LIC New Jeevan Shanti Plan Calculator – Easy Guide for Guaranteed Pension
Single premium • Deferred annuity • Guaranteed annuity rates
Results
Annuity Estimate
| Mode | Annual Amount (₹) | Per-Installment (₹) | Minimum Annuity Check |
|---|
Mode reductions applied: Half-yearly −2%, Quarterly −3%, Monthly −4%. Paid in arrears.
Death Benefit (During Deferment)
ABD per month = (Purchase Price × base yearly rate × 0.96) / 12 / 1000, using monthly-mode rate without incentives.
Surrender Value
Loan Eligibility (Indicative)
Retirement planning is important. Do you want security? Also, you want a fixed income for life.
The LIC New Jeevan Shanti Plan Calculator helps you do that. It gives a clear estimate of pension, annuity, and benefits.
What is LIC New Jeevan Shanti Plan?
LIC New Jeevan Shanti Plan is a single premium, deferred annuity plan.
- You pay once.
- You get pension after a chosen deferment period.
- You can choose Single life annuity or Joint life annuity.
The annuity rates are guaranteed at the start.
The pension continues for the lifetime of the annuitant(s).
How Does the LIC New Jeevan Shanti Plan Calculator Work?
The calculator is simple. You enter:
- Purchase Price (the single premium you pay)
- Age at entry
- Deferment Period (1–12 years)
- Annuity Option (Single or Joint life)
- Mode of Pension (Monthly, Quarterly, Half-yearly, Yearly)
The calculator shows:
- Monthly Pension / Annuity amount
- Death Benefit
- Guaranteed Returns
- Surrender Value
Key Features of LIC New Jeevan Shanti Plan
| Feature | Details |
| Plan Type | Single Premium, Deferred Annuity |
| Options | Single Life & Joint Life |
| Minimum Purchase Price | ₹1,50,000 (₹50,000 for Divyangjan cases) |
| Maximum Purchase Price | No limit |
| Entry Age | 30 – 79 years |
| Vesting Age | 31 – 80 years |
| Deferment Period | 1 – 12 years |
| Minimum Annuity | ₹1,000/month, ₹3,000/quarter, ₹6,000/half-year, ₹12,000/year |
| Payment Modes | Yearly, Half-yearly, Quarterly, Monthly |
| Incentives | Higher annuity rate for large purchase price & online purchase |
| Surrender Value | Available after policy starts |
| Loan Facility | Available after 3 months |
Benefits of Using LIC New Jeevan Shanti Plan Calculator
- It gives quick pension estimate.
- It shows clear comparison of Single vs Joint life annuity.
- It helps in retirement planning.
- It explains death benefit and surrender value.
LIC New Jeevan Shanti Plan Benefits (Simple Table)
| Situation | Benefit |
| During Deferment Period | No annuity paid. On death – Death Benefit paid. |
| After Deferment Period | Pension starts. Paid for lifetime. |
| On Death (Single life) | Death Benefit to nominee. |
| On Death (Joint life) | Pension continues for survivor. On last death – Death Benefit paid. |
| Death Benefit | Higher of (Purchase Price + Additional Benefit – Annuities Paid) OR 105% of Purchase Price |
| Surrender Value | 75%–90% of Purchase Price (based on year) minus annuities paid |
| Loan Facility | Available after 3 months |
| Tax Benefits | Eligible under current tax laws |
Example – Benefit Illustration
- Purchase Price: ₹10,00,000
- Age at Entry: 45 years
- Deferment Period: 12 years
Annuity Payouts:
| Option | Yearly | Half-yearly | Quarterly | Monthly |
| Single Life | ₹1,13,600 | ₹55,664 | ₹27,548 | ₹9,088 |
| Joint Life | ₹1,07,900 | ₹52,871 | ₹26,166 | ₹8,632 |
Tax Benefits
- Premium qualifies for tax deductions under current Income Tax Act.
- Pension income is taxable as per your income slab.
Who Should Use LIC New Jeevan Shanti Plan Calculator?
- People planning for retirement income.
- Senior citizens looking for lifetime pension.
- Couples who want joint life annuity.
- Parents or guardians planning for dependent with disability.
Other Related LIC Plan Calculators:
- LIC 917 Plan Calculator
- LIC Plan 178 Maturity Calculator
- LIC Plan 133 Maturity Calculator
- LIC Plan 815 Maturity Calculator
- LIC Plan 836 Maturity Calculator
- LIC Plan 814 Maturity Calculator
- LIC Plan 833 Maturity Calculator
- LIC Child Plan 832 Premium Calculator
- LIC Child Plan Calculator [Plan No. 934 & 932]
- LIC Jeevan Saral Plan 165 Maturity Calculator
- LIC Dhan Vriddhi Plan Calculator
Conclusion
The LIC New Jeevan Shanti Plan Calculator is an easy tool. It helps you know your pension amount, death benefit, and returns. Also gives peace of mind. Finally supports retirement planning in India.
Plan wisely. Use the calculator. Build a secure future.
FAQs
1. What is the minimum purchase price for LIC New Jeevan Shanti Plan?
₹1,50,000 (₹50,000 for Divyangjan cases).
2. What is the minimum pension amount?
₹1,000 per month or ₹12,000 per year.
3. Can I surrender the policy?
Yes. You can surrender anytime. The surrender value is 75%–90% of purchase price (minus annuities paid).
4. What is the maximum deferment period?
12 years (subject to maximum vesting age).
5. Does this plan provide tax benefits?
Yes. Premium qualifies for tax deduction. Pension income is taxable.
Disclaimer: This LIC New Jeevan Shanti Plan Calculator is for educational and illustrative purposes only. Calculations shown are estimates and may differ from actual LIC values. Please visit lic official website or consult LIC or a certified financial advisor before making any investment. Use this tool at your own risk.
