LIC's New Jeevan Shanti - Shreeji Investments

LIC’s New Jeevan Shanti

LIC’s New Jeevan Shanti is a Non-Linked, Non-Participating, Individual, Single Premium, Deferred Annuity plan wherein the Policyholder has an option to choose between Single life and Joint life Deferred annuity. The annuity rates are guaranteed at the inception of the policy and annuities are payable post deferment period throughout the life time of Annuitant(s).¹

This is a non-participating product under which benefits payable on death or survival are guaranteed and fixed (as per the chosen Annuity Option) irrespective of actual experience. Hence the policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus. This plan can be purchased offline through agents/ other intermediaries as well as online directly through website www.licindia.in.²

Key Features:

Single Premium Deferred Annuity plan.
Two annuity options to suit your needs.
Flexibility to choose from:
- Single Life Annuity and Joint Life Annuity.
- Mode of Annuity payments (yearly, half-yearly, quarterly and monthly).
Option to take death benefit as Lump-sum, in the form of Annuitisation or in Installments.

Benefits:

Benefits payable are:

Option	Benefits
Option 1	During Deferment Period: On survival of the Annuitant, nothing shall be payable. On death of the Annuitant, Death Benefit as defined below shall³ be payable to nominee(s).⁴ After Deferment Period: The annuity payments, as per the chosen mode, shall be made in arrears for as long as the Annuitant is alive.⁵ On death of the Annuitant, the annuity payments shall cease immediately and Death Benefit as defined below shall be payable to nominee(s).
Option 2	During Deferment Period:⁶ ⁷On the survival of the Primary Annuitant and/or Secondary Annuitant, nothing shall be payable. On death of the last survivor, Death Benefit as defined below shall be payable to nominee(s). After Deferment Period: The annuity payments, as per the chosen mode, shall be ⁸made in arrears for as long as the Primary Annuitant and/or Secondary Annuitant is alive. On death of the last survivor,⁹ the annuity payments shall cease immediately and Death Benefit as defined below shall be payable to nominee(s).

Option

Benefits

Option 1

During Deferment Period: On survival of the Annuitant, nothing shall be payable. On death of the Annuitant, Death Benefit as defined below shall³ be payable to nominee(s).⁴ After Deferment Period: The annuity payments, as per the chosen mode, shall be made in arrears for as long as the Annuitant is alive.⁵ On death of the Annuitant, the annuity payments shall cease immediately and Death Benefit as defined below shall be payable to nominee(s).

Option 2

During Deferment Period:⁶ ⁷On the survival of the Primary Annuitant and/or Secondary Annuitant, nothing shall be payable. On death of the last survivor, Death Benefit as defined below shall be payable to nominee(s). After Deferment Period: The annuity payments, as per the chosen mode, shall be ⁸made in arrears for as long as the Primary Annuitant and/or Secondary Annuitant is alive. On death of the last survivor,⁹ the annuity payments shall cease immediately and Death Benefit as defined below shall be payable to nominee(s).

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