LIC Jeevan Shanti is a **single-premium deferred annuity plan** crafted to provide a steady income stream for life. One time payment and you begin receiving regular pension payouts after a predefined waiting period — a practical solution for those who want certainty in retirement without market risk.
• You pay a lump sum premium, called the “purchase price”.
• You choose between single-life or joint-life annuity variants and decide when payouts commence (deferment period).
• After the deferment ends, you receive regular annuity payments (monthly, quarterly, half-yearly or yearly) for life. In case of death, the nominee receives the defined death benefit.
• **Guaranteed lifetime income**: Annuity rates are locked at inception and payouts continue throughout the lifetime of the annuitant(s).
• **Flexible variants**: Choose single or joint life; choose deferment and payout mode to match your retirement plan.
• **Death benefit option**: On death before or after the annuity commencement, a death benefit is passed to the nominee under choices like lump sum, installments or purchase of another annuity.
• **No market risk**: Since this is a non-linked, non-participating product, returns are not tied to markets — you prioritise income certainty.
• Entry age typically starts at 30 years and goes up to approx. 79 years at entry; vesting age (when annuity starts) may go up to around 80 years.
• Minimum purchase price is defined (for example ₹1.5 lakh and above) and there is no upper cap on purchase price—subject to terms.
• Deferment period can be from 1 year onwards; the longer the deferment, the higher the annuity amount.
• Once chosen, annuity option (single/joint) and mode cannot be changed later — pick wisely.
• Choose a premium amount that can generate the income you’ll need in retirement—too low a premium means modest annuity.
• Estimate inflation—while payments are for life, they may not keep pace with rising cost of living unless you plan accordingly.
• Confirm surrender and exit terms—early exit or discontinuation may reduce benefits significantly.
• Review how death benefit is defined in your variant—whether nominee gets lump sum, installments or annuity.
• Individuals close to retirement who want a predictable income stream rather than market-linked risks.
• Adults who have a lump sum ready and want to convert it into lifetime pension rather than leaving it idle or in volatile investments.
• Couples who want joint life option so that income continues for the surviving partner.
LIC Jeevan Shanti (Plan No. 758) offers lifetime peace of mind by converting your savings into guaranteed lifetime income.
If you prioritise safety, certainty and simplicity in retirement income planning, this plan deserves serious consideration.
Take time now to match premium, payout mode and variant to your income-needs—so you can retire with confidence.