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New Jeevan Shanti Pension Plan (Table-850) Premium Calculator
The New Jeevan Shanti Pension Plan (Table-850) is a pension plan offered by LIC of India. It is a non-linked, non-participating, single-premium annuity plan that provides immediate or deferred annuity options. The plan guarantees annuity rates from the start, protecting against interest rate fluctuations and market risks. It differs from another popular plan called Jeevan Akshay VI by allowing surrender and loan facilities.
The Jeevan Shanti Pension Plan offers various annuity options, including a life annuity, an annuity with a certain period, an increasing annuity, and an annuity with spouse benefits. For deferred annuity, options are available for single life or joint life. The eligibility conditions include a minimum purchase price and age requirements.
What is a New Jeevan Shanti Pension Plan Calculator?
The New Jeevan Shanti Pension Plan (Table-850) Premium Calculator is a tool that helps individuals estimate the premium or investment amount required for the plan. It takes into account factors such as age, desired annuity option, and mode of payment to calculate the premium.
By using the premium calculator, individuals can get an idea of how much they need to invest in order to avail themselves of the pension benefits offered by the plan. It provides a convenient way to plan and determine the financial commitment involved in the New Jeevan Shanti Pension Plan.
The plan also provides death benefits under specific annuity options, allowing beneficiaries to receive a lump sum or annuitized payments. NPS subscribers and individuals with handicapped dependents have specific provisions under the plan. Surrender value and loan facilities are applicable to certain annuity options.
- Minimum – 30 years
- Maximum – 79 years
Plan Purchase Amount
- Minimum – Rs 1.5 Lacks
- Maximum – N/A
- Pension Starts After – 1 Year
- Pension Mode – Yearly, Half Yearly, Quarterly, Monthly
- GST – 1.8%
How to use New Jeevan Shanti Pension Plan Calculator?
To calculate the pension amount for the Jeevan Shanti Plan, there are online pension calculators [https://licpremiumcalculator.pro/new-jeevan-shanti-pension-plan-table-850/]. These calculators take into account factors such as the premium amount, age, and mode of payment, and provide an estimate of the pension amount. The pension amounts can vary based on different combinations of these factors.
Step-by-Step Tutorial for Utilizing the LIC Premium Calculator
Utilizing the LIC Premium Calculator is a straightforward procedure that can be accomplished in a few uncomplicated steps:
- Navigate to the LIC Premium Calculator website in order to gain access to the Premium Calculator. [Here]
- Input the required personal information, including age, gender, smoking habits, and medical history.
- Choose the desired type of life insurance policy and specify the sum assured or coverage amount.
- Opt for the preferred frequency of premium payments, such as annually, semi-annually, quarterly, or monthly.
- Click on the calculate button or generate the estimate to obtain the premium amount based on the provided information.
In summary, the New Jeevan Shanti Pension Plan (Table-850) is a pension plan offered by LIC of India. It provides immediate or deferred annuity options, with various annuity choices and benefits. There are eligibility conditions, surrender and loan facilities, and death benefit options. The pension amount can be calculated using online pension calculators, considering factors such as the premium amount, age, and mode of payment.