New Jeevan Nidhi – LIC Pension plan
JEEVAN NIDHI Pension plan is a with profits Deferred Annuity (Pension) plan. Under this plan, On survival of the policyholder beyond term of the policy the accumulated amount (i.e. Sum Assured + Guaranteed Additions + Bonuses) is used to generate a pension (annuity) for the policyholder. The plan also provides a risk cover during the deferment period.
Benefit On Vesting:
1. Option to commute up to 1/3rd of the amount available on vesting, which shall include the Sum Assured under the Basic Plan together with accrued Guaranteed Additions, simple Reversionary Bonuses and Terminal Bonus, if any.
2 . Annuity as per the option selected: Annuity on the balance amount if commutation is exercised, otherwise annuity on the full amount.
On vesting under this plan, the annuity installment, mode of annuity payment and type of annuity which shall be made available to the Life Assured (Annuitant) / Nominee will depend upon the then prevailing Immediate Annuity plan of the Life Insurance Corporation of India and its terms and conditions.
Jeevan Nidhi Pension plan, Call us at 9480240513