Calculate Your Returns with the Lic Jeevan Shanti Plan Calculator

How to Use the LIC Jeevan Shanti Calculator: Step-by-Step

Ready to see how the LIC Jeevan Shanti calculator works? It’s super easy! Follow these steps to get your personalized estimates:

Step 1: Pick Your Plan Type

• Single Life: For one person.
• Joint Life: For you and a partner (like your spouse).

Quick Tip: Joint Life is a smart choice if you want to secure your spouse’s future too.

Step 2: Enter Your Age

• For Single Life, just add your age.
• For Joint Life, include both your age and your partner’s.

Heads Up: You need to be between 30 and 79 years old.

Step 3: Add the Purchase Price

• This is the one-time amount you’ll invest. The minimum is ₹1,50,000.

Pro Tip: Investing more means bigger annuity payments—think about what you can comfortably afford.

Step 4: Choose the Deferment Period

• Decide how long you’ll wait before payments begin (1 to 12 years).

Fun Fact: Waiting longer often boosts your annuity amount.

Step 5: Select Payment Frequency

• How do you want your money? Yearly, half-yearly, quarterly, or monthly?

Suggestion: Monthly payouts work great for everyday expenses, while yearly gives you a bigger lump sum.

Step 6: Check for Incentives

• Buying online or through QROPS? You might get a 2% bonus on your annuity rate.

Note: This little perk can make a nice difference!

Step 7: Add Surrender Year (Optional)

• Want to know what you’d get if you cash out early? Enter the year (1 to 5).

Word of Caution: Surrendering isn’t the best move unless you’re in a tight spot.

Step 8: Hit “Calculate”

• The new Jeevan Shanti plan calculator will show you everything—your pension, death benefit, surrender value, and more.

What Do the Results Mean?

Once you’ve used the LIC Jeevan Shanti calculator, you’ll get a detailed breakdown. Here’s what each part tells you:

1. Annuity Amount

• This is your pension—the money you’ll get after the deferment period.
• It’s shown for all payment options, so you can compare.

Example: A 55-year-old investing ₹5,00,000 with a 5-year deferment might get ₹50,000 yearly.

2. Death Benefit

• If you pass away, your nominee gets this amount.
• During the deferment period, it’s typically 105% of your investment plus extras.
• After payments start, it adjusts based on what’s been paid out.

Key Takeaway: Your family stays protected no matter what.

3. Surrender Value

• Exit early, and you’ll get this amount.
• First three years: 75% of your investment (minus payouts).
• After that: 90%.

Advice: Try to avoid surrendering—it’s better to keep the plan running.

4. Loan Amount

• Need cash? Borrow up to 80% of the surrender value after three months.
• Interest rate is around 9.5% per year (as of 2023).

Use Case: Great for emergencies, but pay it back to keep your benefits intact.

Disclaimer: The Jeevan Shanti calculator gives estimates based on sample rates. For exact figures, reach out to LIC or a trusted advisor.