Jeevan Shanti (Plan Number 850) is the most popular single premium, deferred annuity plan of LIC. An annuity means a fixed annual payment or pension. In a deferred annuity, payment begins after the deferred period chosen by the investor.
The period from one year to 20 years can be chosen as per the wishes of the policy holder in the life peace period. The biggest benefit of Jeevan Shanti is that the annuity rate fixed at the beginning of the policy is guaranteed throughout the life of the policyholder. In other words, during the term of the policy your annuity rates are protected from interest rate fluctuations and market risks.