LIC LIC's New Jeevan Shanti (Plan No. 858): Full Guide, Eligibility & Premium

LIC's New Jeevan Shanti belongs to LIC's pension plans family. In one line: deferred annuity with locked-in rates

Eligibility at a glance — entry age 30 to 79 years; sum assured Purchase price from ₹1,50,000; policy term Deferment of 1 to 12 years. Anything outside those bands will simply not be issued, so check them before you plan the premium.

What the plan actually gives you: Annuity rate guaranteed at purchase Single life and joint life options Death benefit during deferment Loan and surrender facilities available Those are the contractual features; bonus or market-linked components, where they apply, are declared by LIC each year and are not guaranteed in advance.

Who it suits: People retiring in a few years who want to lock today's rates. If that does not describe your situation, there is usually a better-fitting plan in the same family, and it costs nothing to ask.

Before you sign, run LIC's New Jeevan Shanti through the premium calculator on this site with your own age, sum assured and term. Seeing the yearly outgo next to the projected maturity value is the fastest way to know whether the plan fits your cash flow — and the fastest way to spot a mis-sold recommendation.

Buying, servicing and claiming are three different jobs. We help with all three free of charge, including for policies you bought elsewhere, from our office at Fort, Mumbai and online across India.