Hyderabad: Life Insurance Corporation of India has introduced New Jeevan Shanti plan which is a non-linked, non-participating, individual, single premium, Deferred Annuity Plan.

The annuity rates are guaranteed at the inception of the policy and annuities are payable post deferment period throughout the life time of Annuitant(s). This plan can be purchased offline as well as online from October 21.

Two Annuity options are available under the plan, according to a press release. While the option 1 is deferred annuity for single life, the option 2 is deferred annuity for joint life.

The minimum purchase price is Rs 1.5 lakh and the modes of annuity available are yearly, half-yearly, quarterly, and monthly. The minimum annuity is Rs 12,000 per annum and there is no ceiling on maximum purchase price, it added.

For further details and to purchase the plan online, log on to our website www.licindia.in.

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