Who it suits
People approaching retirement with a lump sum who want a guaranteed lifelong income.
LIC plans / Pension Plans
Pension Plans
New Plan no. 758
LIC’s New Jeevan Shanti
Single premium · Deferred annuity
Pay once now, choose a deferment period, and get guaranteed pension for life afterwards.
30 – 79 years (single life)Entry age
Deferment 5 – 20 years, then pension for lifePolicy term
Single premiumPremium paying term
Annuity amount depends on purchase price and chosen optionSum assured
Plan highlights
What this plan gives you
The main features in plain words. The official brochure is the final word on every figure.
- Guaranteed pension for life
- Single or joint life
- Choose your deferment period
How it works
You pay a single premium. After the deferment period you receive guaranteed pension for life, single-life or joint-life. The rate is fixed from day one.
Death benefit
Depends on the annuity option chosen (for example return of purchase price).
Maturity benefit
None; pension is paid for life.
Survival / income benefit
Guaranteed annuity after deferment.
Options and riders
Single life or joint life annuity options
Step by step
How the plan runs
1
Start the planEntry age: 30 – 79 years (single life). Sum assured: Annuity amount depends on purchase price and chosen option.2
Pay premiumsSingle premium3
Stay coveredPolicy term: Deferment 5 – 20 years, then pension for life. Death benefit applies during the term.4
Income during the termGuaranteed annuity after deferment.5
Receive the benefitNone; pension is paid for life.At a glance
Eligibility and plan limits
A quick reference before you discuss a proposal. Underwriting and channel conditions apply.
| Plan detail | As per summary |
|---|---|
| Plan number | 758 |
| Category | Pension Plans |
| Plan type | Single premium · Deferred annuity |
| Entry age | 30 – 79 years (single life) |
| Policy term | Deferment 5 – 20 years, then pension for life |
| Premium paying term | Single premium |
| Sum assured | Annuity amount depends on purchase price and chosen option |
- Guaranteed rate fixed at the start
Quick answers
Questions families ask
Who is this plan for?
People approaching retirement with a lump sum who want a guaranteed lifelong income.
What is the entry age?
30 – 79 years (single life)
What are the policy term and premium paying term?
Policy term: Deferment 5 – 20 years, then pension for life. Premium paying term: Single premium.
What sum assured can I choose?
Annuity amount depends on purchase price and chosen option
What happens if the life assured dies during the term?
Depends on the annuity option chosen (for example return of purchase price).
What do I receive at maturity?
None; pension is paid for life.
Does the plan pay anything during the term?
Guaranteed annuity after deferment.
Are there options or riders?
Single life or joint life annuity options
Will the amounts always be paid exactly as shown here?
This page is a summary. Actual benefits depend on the policy terms, premium payment status, the options chosen, underwriting and LIC’s official benefit illustration. The official brochure is the final word.
Want this explained in plain words?
Read LIC’s official brochure, compare the options, and I will help you choose what fits your family.
This page is a summary. Benefits, eligibility and premiums can change: the official LIC brochure for the plan is the final word, and I will confirm current terms for you.