Hyderabad, Sep 12: Life Insurance Corporation of India has launched a new plan ‘Jeevan Shanti’, which will be available for sale from Wednesday.
The product helps to provide life-long regular income in the form of pension, a statement here said. The plan provides a unique option of taking either immediate or deferred annuity depending upon the requirement of the individual.
The Plan also provides for guaranteed additions during the deferment period in case of deferred annuity option. The annuity rate—the pension rates are guaranteed from inception of the policy in both the options--immediate annuity and deferred annuity. (UNI)