New Jeevan Nidhi .. एल. आय.सि.न्यू जीवन निधि

It is similar to the old pension plan “Jeevan Nidhi” with small modifications & comes with one time and also regular premium choices.

This is made to protect the risk of living a long time and therefore provides a number of pension options to cover the risk. Pension Plans available from insurance companies assist people to prepare properly for their retirement life.  But deciding upon the proper pension plan policy hasn't ever been simple. The primary purpose of any retirement plan is to get good monthly pension after retirement. However some people today have no idea how much of earnings they are going to receive from the retirement plans when time comes for retirement & additionally number of pension plans available in market do not give a specific idea on what amount the buyer can get at the end. Getting a very good retirement plan will assist to make sure the freedom from post retirement monetary issues. If you have to think of a safe and secure future you will need to start to take action now. Appropriate pension plans offer monetary protection to the policy owners while in their retirement living days & assists them to keep their preferred lifestyle without having any problems. It is necessary to decide on a pension plan very carefully, bearing in mind of particular requirements, needs and limits; to ensure that it could take care of all the old age needs completely.

New Jeevan Nidhi Plan 812 Policy Benefits:

Benefit on Vesting:  On vesting a sum equivalent to the basic Sum Assured together with accumulated assured additions, vested simple reversionary bonuses and Final Additional bonus, if there are any, will be provided to the policyholder. The choices will be there for the Life Assured for usage of the benefit amount of money are mentioned below.

1. To buy an immediate annuity plan like Jeevan Akshay: The policyholder shall have an option to commute the total amount offered on vesting to the extent permitted under Income Tax Act. The whole amount offered on vesting or the balance amount after withdrawing the permitted amount, will likely be used to buy immediate annuity for the then existing annuity rates. Commutation shall just be permitted provided the balance amount is adequate to buy a lowest amount of annuity according to the provisions of Insurance Act, 1938. In the event the overall benefit amount is inadequate to buy the minimum amount of annuity, then your said amount will be given as a lump sum to the policy holder.OR2. To buy a new one time premium deferred retirement plan from Life Insurance Corporation of India. Under this solution the whole income offered on vesting shall be used to buy a single premium deferred pension product provided the insurance holder meets the eligibility requirements for buying single premium deferred pension plan. The policyholder will need to intimate his / her plan to choose a specific choice available on the date of vesting a minimum of six months before the date of vesting.Guaranteed Bonus:  The policy offers for assured additions @ Rs.50/- per thousand Sum assured for each and every completed year, for the 1st five years.

Jeevan nidhi pension plan benefit illustration:

Age : 33 Years
Sum : Rs. 10,00,000Premium payment mode : YearlyPremium Paying Term : 22 YearsDouble Accident Benefit  Premium : Rs. 1000Total yearly premium : Rs. 45942Assumed Bonus Rate : Rs. 38 per thousand sum assured.

Benefits During The Deferment Period
Year	Age	Risk Cover		Premium Per year	Cash Value
		Normal	Accident
2013	33	1050000	2050000	47362	0
2014	34	1100000	2100000	46652	0
2015	35	1150000	2150000	46652	64575
2016	36	1200000	2200000	46652	92629
2017	37	1250000	2250000	46652	134538
2018	38	1288000	2288000	46652	146886
2019	39	1326000	2326000	46652	183309
2020	40	1364000	2364000	46652	224477
2021	41	1402000	2402000	46652	270814
2022	42	1440000	2440000	46652	323089
2023	43	1478000	2478000	46652	381734
2024	44	1516000	2516000	46652	447659
2025	45	1554000	2554000	46652	521354
2026	46	1592000	2592000	46652	594587
2027	47	1650000	2650000	46652	676907
2028	48	1693000	2693000	46652	769845
2029	49	1736000	2736000	46652	875530
2030	50	1779000	2779000	46652	996053
2031	51	1832000	2832000	46652	1142869
2032	52	1890000	2890000	46652	1308228
2033	53	1958000	2958000	46652	1494522
2034	54	2046000	3046000	46652	1704529
2035	55	0	0	0	0

In the year 2035, the deferment time period will finish and also the policy is going to be due for annuity (pension) payment. In this year, the Notional Cash Option (NCO) benefit on what the pension will likely be determined is projected to be  Rs. 2046000 (depending on presumed Bonus and Final Bonus Rate). The policyholder have an alternative to withdraw 1/3rd of this sum in lum psum which is free from taxes and make the remainder out there for buying annuity from LIC. At the same time, the whole amount can be used for buying the annuity. The tables below show you the total of pension you may get from LIC's Jeevan Nidhi Plan presently under different pension choices available.

Pension Amount Available With Commutation
Pension Options Available	Pension Mode
	Monthly	Quarterly	Half Yearly	Yearly
A	9878	29855	60459	123919
B	9821	29684	60118	123237
C	9707	29343	59300	121601
D	9548	28866	58345	119555
E	9366	28320	57254	117099
F	8127	24569	49752	102095
G	7934	23955	48388	98822
H	9332	28184	57049	116827
I	8843	26717	53980	110552
J	8070	24399	49343	101004

Pension Amount Available Without Commutation
Pension Options Available	Pension Mode
	Monthly	Quarterly	Half Yearly	Yearly
A	14816	44782	90689	185879
B	14731	44526	90177	184856
C	14561	44015	88950	182401
D	14322	43298	87518	179332
E	14049	42480	85881	175649
F	12191	36854	74628	153143
G	11901	35933	72582	148233
H	13998	42275	85574	175240
I	13265	40076	80970	165828
J	12106	36598	74014	151506

Pension options available under this plan are as under.


Important Note: 

• Premium including Service Tax @ 3.09% on 1st year and @ 1.545% for following years.
• The above mentioned illustration is depending on specific presumptions which are likely to change based on Government/Corporation's policies.
• The figures shown are in Indian Rupees.