Life Insurance Corporation (LIC) has recently launched a new non-linked, non-participating, individual, single-premium deferred annuity scheme — New Jeevan Shanti plan. The annuity rates are guaranteed at the inception of the policy and annuities are payable post deferment period throughout the life time of annuitants, the insurer said in a statement. There are two annuity options available — deferred annuity for single life, and deferred annuity for joint life.
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