The South Indian Bank Ltd. has entered into a tie up with the Giant in the Life Insurance Sector - LIC of India for soliciting Life Insurance policies for our customers. LIC is the only insurance company whose policy proceeds are guaranteed by the Government. Through this tie up, the banking expertise of The South Indian Bank Ltd. and the Risk Management expertise of LIC of India will be combined to provide excellent life cover policies and investment option to our customers. All the products of LIC will now be available through our branches. It opens up a reliable and trustworthy investment avenue, making SIB a one stop shop for all financial requirement..

 

LIC’S JEEVAN SHANTI
 
LIC offers a basket of schemes to meet the various needs of an individual and his family. 
 
PENSION has gained much more importance than it ever had. Given below are some of the reasons why pension is needed:
 
• Increase in longevity of human life.
 
• Expenses of livelihood does not reduce rather increases with age (Cost of medicine, inflation etc)
 
• To maintain the same level of life style, regular, guaranteed cash flow is needed as long you and your spouse live. 
 
• Cash flow must be unaffected by variable interest rates. 
 
LIC’s pension product “JEEVAN SHANTI” is a very good choice to meet the above criteria.
 
Salient Features of the Plan:
  •         One-time Investment and no limit on maximum investment
  •         Life Long Guaranteed Pension Rates
  •         Plan can be taken on Self, Joint life and Divyangjan Life 
  •         Variable returns ranging from 5.64% to 18% p.a.
  •         Protection against changing Interest Rates & No risk of investment.
  •         Immediate Pension & Deferred Pension as per the choice of the customer
  •         Guaranteed additions during deferment period
  •         Sec 80C benefit on investment
  •         No medical formality, for any age. Simple documentation & KYC
  •         Annuity (Pension) available in Monthly/ Quarterly/ Half-yearly/ Yearly modes
 
 
There are two types of Pensions:
Immediate Annuity
Deferred Annuity
Entry Age: 30 to 100 years
Entry Age: 30 to 79 years
Pension Starts immediately
Deferment (Waiting) period:    1 to 20 years
Guaranteed Pension for Life Time
Guaranteed Pension for Life Time
Out of the options available, one can choose :
options available
Option A: Immediate annuity for life
 
 
 
The Two options are:
Deferred Annuity for Single Life.
2)    Deferred Annuity for Joint Life.
Option B,C,D &E: Immediate Annuity guaranteed for 5,10, 15 and 20 years and for life thereafter respectively.
Option F : Immediate Annuity for life with return of purchase price on death.
Option G : Immediate Annuity for life increasing at a   simple rate of 3% p.a
Option H : Joint Life Immediate Annuity for life with a provision for 50% of the annuity to the Secondary Annuitant for life on death of the Primary Annuitant.
Option I : Joint Life Immediate Annuity for life with a provision for 100% of the annuity payable as long as one of the Annuitant survives.
Option J : Joint Life immediate Annuity for life with a provision for 100% of the annui9ty payable as long as one of the Annuitant survives and return of purchase price on death of last survivor
 
 

 

Let Us Invest Now – Enjoy The Benefits Life Long