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LIC's New Jeevan Shanti

Deferred annuity with locked-in rates

Pay once now, choose a deferment period, and receive a guaranteed annuity for life at rates fixed on the purchase date.

Who it suits: People retiring in a few years who want to lock today's rates.

  • Pension
  • Deferred annuity with locked-in rates
  • Maturity Benefit
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LIC plan reference: 858

LIC LIC's New Jeevan Shanti pension plans illustration

Eligibility at a glance

Entry age
30 to 79 years
Maturity age
Up to 75 years (plan dependent)
Sum assured
Purchase price from ₹1,50,000
Policy term
Deferment of 1 to 12 years
Premium modes
Yearly, half-yearly, quarterly, monthly (NACH) and salary savings scheme

Key benefits

  • Annuity rate guaranteed at purchase
  • Single life and joint life options
  • Death benefit during deferment
  • Loan and surrender facilities available

Estimate your LIC's New Jeevan Shanti premium and maturity value

LIC Premium & Maturity Calculator

Estimates from publicly published LIC rate tables. Not a quotation.

Yearly premium
₹1,200
First instalment
₹1,200
Renewal instalment
₹1,200
Total outgo over the term
₹6,000
Estimated maturity value
₹22,40,000
Indicative surrender value (mid-term)
₹1,620
Get an exact LIC quotation

Figures exclude underwriting loading and high sum assured rebates. Bonus-linked maturity values are projections, not guarantees.

Want an exact LIC illustration?

Your estimate is ready. For an official quotation and a suitability discussion on LIC's New Jeevan Shanti:

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This plan may not be ideal if…

  • You need the maximum possible life cover for the lowest premium — a term assurance plan does that better.
  • You may need the money back within the first few years; early surrender values are low.
  • You expect market-linked returns; participating LIC returns are steadier but more modest.
  • Your income is irregular and you cannot commit to the full premium paying term.

Frequently asked questions

Get advice on LIC's New Jeevan Shanti

Send your age and budget and you will get an official LIC quotation plus an honest view on whether this plan is the right fit.

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This page describes LIC's New Jeevan Shanti in our own words, based on LIC's published product literature. For the binding terms, always refer to the official policy document issued by Life Insurance Corporation of India.