New Delhi: LIC’s New Jeevan Shanti Plan is a great option for those seeking long-term financial security and a stable source of income during retirement. This annuity plan provides an opportunity for the policyholder to purchase a deferred annuity by paying a one-time lump sum and thus makes retirement planning easy. One may get lifelong annuity payments on payment of a single premium; continuing contributions are not required. The plan also comes with incentives for higher purchases and does not require any medical examinations hence usable by all people belonging to a wide range of people.
Some key benefit of the New Jeevan Shanti Plan is that it can generate a guaranteed income at retirement. One can accumulate a big fund with them while in service by investing in it, which later gets converted into regular payouts after retirement, ensuring complete financial stability. Furthermore, this plan provides for tax-deferred growth—the invested money can grow without having annual taxes on dividends, interest, or capital gains, which, in effect, will yield greater accumulation over time.
While LIC’s New Jeevan Shanti requires a single premium payment, many deferred annuity plans offer flexible premium contributions. This makes people invest according to their financial situation. The plan also aims at lifetime income, protecting the risk of outliving savings and ensuring continuous support for sustenance throughout retirement.
Unlike some retirement accounts that have contribution limits, generally speaking, there are no such limits with deferred annuities—including LIC’s New Jeevan Shanti—so a person may invest as much money as one desires. Again, the plan has a death benefit that ensures a payout to beneficiaries in case of death during the policyholder’s accumulation phase, hence providing more financial security for loved ones.
The LIC New Jeevan Shanti plan is, therefore, an astute retirement plan combining the reliability of income flow, tax benefits, and lifetime security. It may aptly be labeled as an offer impossible to refuse for any of those who intend to cover and protect their financial future with the guarantee of an absolute income flow throughout retired life.
Discover peace of mind with LIC’s New Jeevan Shanti Plan, offering guaranteed lifelong income and financial stability in retirement. Invest a lump sum now for a secure and tax-deferred future. Companies Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
