We all think of investing a small part of our income somewhere where our money will be safe and will also give good returns. Especially many people are worried about their financial needs after retirement.

In such a situation, LIC always comes up as a reliable option. LIC has many good schemes according to every age and need.

One such special scheme is ‘LIC New Jeevan Shanti Yojana’. This is a single premium plan, meaning you have to invest a certain amount of money only once. And through this one investment, you will continue to get regular pension throughout your life after retirement. If you plan properly, you can get a pension of Rs 1 lakh or more every year.

Every person wants their life to be financially secure after retirement. If you also think like this and are looking for a good scheme, then the ‘New Jeevan Shanti’ scheme can be very beneficial for you. This scheme guarantees you a regular pension throughout your life after investing once. Although it does not have any risk cover, it is popular as a pure investment and pension scheme.

Who can avail the benefits of this scheme?

The age limit for investing in this scheme is 30 to 79 years. You can choose from two options as per your convenience: one is pension only for yourself (single life) and the other is joint pension for yourself and your spouse (joint life).

How to get pension?

‘New Jeevan Shanti’ is an annuity scheme. You can decide when and how much you want the pension while taking the policy. For example, if a 55-year-old person invests Rs 11 lakh at a time and starts pension after 5 years, then that person can get a pension of more than Rs 1 lakh every year. The amount of pension depends on your age, investment and the time of starting pension.

What are the other features of the scheme?

You can invest a minimum of Rs 1.5 lakh in this scheme, but there is no maximum investment limit. You can surrender this policy at any time as per your need. Also, in the unfortunate event of the policyholder’s death, the invested or vested amount is returned to his nominee.