LIC New Jeevan Nidhi

15
lic new jeevan nidhi

Last updated on September 23rd, 2017 at 04:09 am

LIC New Jeevan Nidhi  is conventional deferred retirement plan. This is made to protect the risk of living a long time and therefore provides a number of pension options to cover the risk. Pension Plans available from insurance companies assist people to prepare properly for their retirement life. But deciding upon the proper pension plan policy hasn’t ever been simple. The primary purpose of any retirement plan is to get good monthly pension after retirement. However some people today have no idea how much of earnings they are going to receive from the retirement plans when time comes for retirement & additionally number of pension plans available in market do not give a specific idea on what amount the buyer can get at the end. Getting a very good retirement plan will assist to make sure the freedom from post retirement monetary issues. If you have to think of a safe and secure future you will need to start to take action now. Appropriate pension plans offer monetary protection to the policy owners while in their retirement living days & assists them to keep their preferred lifestyle without having any problems. It is necessary to decide on a pension plan very carefully, bearing in mind of particular requirements, needs and limits; to ensure that it could take care of all the old age needs completely.

Policy Benefits

Benefit on Vesting: On vesting a sum equivalent to the basic Sum Assured together with accumulated assured additions, vested simple revisionary bonuses and Final Additional bonus, if there are any, will be provided to the policyholder. The choices will be there for the Life Assured for usage of the benefit amount of money are mentioned below.

1. To buy an immediate annuity plan like Jeevan Akshay : The policyholder shall have an option to commute the total amount offered on vesting to the extent permitted under Income Tax Act. The whole amount offered on vesting or the balance amount after withdrawing the permitted amount, will likely be used to buy immediate annuity for the then existing annuity rates. Commutation shall just be permitted provided the balance amount is adequate to buy a lowest amount of annuity according to the provisions of Insurance Act, 1938. In the event the overall benefit amount is inadequate to buy the minimum amount of annuity, then your said amount will be given as a lump sum to the policy holder.
OR
2. To buy a new one time premium deferred retirement plan LIC New Jeevan Nidhi from Life Insurance Corporation of India. Under this solution the whole income offered on vesting shall be used to buy a single premium deferred pension product provided the insurance holder meets the eligibility requirements for buying single premium deferred pension plan. The policyholder will need to intimate his / her plan to choose a specific choice available on the date of vesting a minimum of six months before the date of vesting.

Guaranteed Bonus: LIC New Jeevan Nidhi policy offers for assured additions @ Rs.50/- per thousand Sum assured for each and every completed year, for the 1st five years.
Income Tax Benefit : Premium paid are Tax Exempted u/s 80 C

Key Features

  • LIC New Jeevan Nidhi is conventional deferred pension plan by LIC
  • Makes it possible for moderate typical savings to create a considerable corpus on maturity.
  • Life Coverage to the extent of Sum Assured + accumulated Guaranteed Additions + Bonus + Final Additional Bonus (as applicable)
  • On Maturity of the term, Sum Assured + accumulated Guaranteed Additions + Bonus + Final Additional Bonus (as applicable) will be available for buying annuity.
  • Options available on maturity: Purchase immediate annuity OR Purchase deferred annuity
  • LIC’s Accidental Death and Disability Benefit Rider is available as an optional rider

LIC New Jeevan Nidhi – Eligibility Conditions

Age : Minimum 20 years and maximum 60 years.
Policy Term : Minimum 5 Yrs and maximum 35 Yrs.
Sum Assured : Minimum Rs. 1 Lakh and maximum No Limit.
Premium Mode : Yearly, Half yearly, Quarterly, Monthly, SSS, single
one time premium.

lic new jeevan nidhi - pension plan by lic
LIC india jeevan nidhi table 818

This kind of pension plan has two primary stages, the savings stage in which you invest money into the account, and the income phase where the plan is converted into an annuity and pension payments are received.

A deferred annuity through Life Insurance Corporation of India can be a wonderful way to go on your retirement saving.

Get Monthly Pension Income with No Market Risk

Whether you choose to retire very early or work for a longer period, the earlier you start pension planning, the much more likely you will be in financial terms ready for retirement. You should seek advice from your financial advisers or authorized LIC agent if any question about whether the plan is suitable for them.

Receive income even after you stop working

With a life long pension payment, you’ll get a guaranteed and secured flow of income for as long as you live.

Buy Online

How to get pension of Rs. 60,000 per month and Rs. 1.2 Cr for your family by investing Rs. 6,000 per month?
You can compare different plans and get best pension plan online.
1. Check Premiums : Use our pension calculator to see real-time premiums of multiple plans available.
2. Compare Benefits : Compare the benefits, features and premiums of different policies.
3. Select Plan : Only after you are satisfied with all the plan information, you can proceed to buy / book online.

lic new jeevan nidhi - deferred annuity plan
deferred annuity plan in India

15 COMMENTS

  1. Thank you for the great information. I am looking for a plan which can give me minimum 50 thousand per month after my age 55 onward. I am currently 35 years old, working as a software engineer. I have received the age specific illustration after submitting my details into lic jeevan nidhi returns calculator. As there any other plan suitable for me where I will get assured pension and whole life insurance as well

    • Thank u for your information.I am looking for a plan which can give me minimum 25 thousand per month after my age 60 year. I am currently 46 yrs old,. As there any other plan suitable for me where I will get assured pension and whole life insurance as well.

  2. How do I know the cash value of my policy as on today? I had taken this policy a long back. Now I am located outside India. I just wanted to know the total amount deposited along with accrued interest. Also please get back to me to that we can discuss more about plans.

  3. PLease provide more detaisl in terms of premium per year in ase i need pension from 55 years. I am currently 45 years

  4. I am looking for a plan which can give me minimum 50 thousand per month after my age 60 onward. I am currently 46 years old, working as a engineer.

  5. Thank you for the great information. I am looking for a plan which can give me minimum 50 thousand per month after my age 55 onward. I am currently 30 years old, working as a Admin Facility. As there any other plan suitable for me where I will get assured pension and whole life insurance as well.
    Pls Help me

  6. I am 44 years. Please suggest how much premium I ll pay in one year.I need pension after 60 years.
    Also how many year I ll get pension after 60 years ?

  7. Please provide more details in terms of premium per year in as i need pension from 55 years. I am currently 45 years.if i paid 50000 per year after 10 years how much i will get.please send the details to my mail ID.

  8. I am Sushil Pandey currently 42 years old I want pension of 30000 per month fix so how much I have to invest per month and for how many years I have to deposit .

LEAVE A REPLY

Please enter your comment!
Please enter your name here