New Delhi: If you are looking for an investment plan which is safe and secure with good returns, then LIC has a bouquet of policies to fit into the above-mentioned criteria. LIC New Jeevan Shanti Plan is a single premium plan wherein the policy holders have an option to choose between single life and joint life deferred annuity.


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It offers investors an opportunity to get lifelong income or pension by investing a lump-sum amount at once.


What is an Eligibility criterion for the plan?


LIC offers policyholders to choose from around nine annuity options. The interest rates for the annuity are fixed at the inception of the policy. Policyholders can choose the option according to their needs and circumstances. 


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Rs 1.5 lakh is the minimum purchase price. However, there is no maximum purchase limit.


The abovementioned minimum purchase price would be increased appropriately to meet minimum annuity criterion as specified below.


Minimum Age at Entry : 30 years (Last Birthday)


Maximum Age at Entry : 79 years (Last Birthday)


Minimum Vesting Age : 31 years (Last Birthday)


Maximum Vesting Age : 80 years (Last Birthday)


Minimum Deferment Period : 1 year


Maximum Deferment Period : 12 years subject to Maximum Vesting Age


How to invest in the plan?


Policyholders can invest in the LIC New Jeevan Shanti plan online or offline. For buying the policy online, one needs to visit LIC’s official portal www.licindia.in. You can also invest in the policy offline via a LIC agent or by visiting your nearby LIC branch. 


How to do joint investment?


Policyholders can jointly invest in the scheme. You can co-invest in the policy with your grandparent, parent, children, grandchildren, spouse or even with your siblings.