By Tricitynews
Chandigarh 19th September:- LIC Chandigarh
Sr. Divisional Manager, Rajat Mukherjee
today formally launched a new plan, ‘LIC’s Jeevan Shanti’. LIC’s Jeevan Shanti
Plan is a non-linked, non-participating, single premium annuity plan wherein
the Policyholder has an option to choose an Immediate Annuity or Deferred
Annuity. The Deferment period can range from 1-20 years
While interacting with
media after the launch, Rajat Mukherjee briefed about the LIC’s Jeevan Shanti Plan. He
said that the joint
life annuity option can be exercised with any lineal descendant/ascendant
of a family (i.e. Grandparent, Parent, Children, Grandchildren) or spouse or
siblings as secondary life. If the Proposer has a handicapped dependant
(Divyangjan), the plan can be purchased for the benefit of Divyangjan as
nominee or as a Second Annuitant under the Immediate Annuity option.
He shared further that all the annuity options under
Immediate Annuity shall be available to NPS subscriber. The NPS subscribers include government
employees, private companies and also those who have subscribed to NPS lite.
He said that the annuity rates are guaranteed at the inception of the policy
for both Immediate and Deferred Annuity.
Accrued Guaranteed Additions: Under Deferred Annuity, Guaranteed
Additions shall accrue at the end of each policy month, till the end of
Deferment Period only. Under both Immediate Annuity and Deferred
Annuity policies, where purchase price is high, incentive by way of increase in
the tabular annuity rate will be given to the annuitant.
Death
claim proceeds, wherever payable, can be claimed as one lump sum, installments
or in annuity form.
The
policy also provides liquidity as there is provision for loan and surrender as
well for annuity options with Death Benefit.
‘LIC’s Jeevan Shanti’ is a comprehensive annuity
plan with unique features for benefit of the individual and support for the
family too, especially for handicapped dependants.
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