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Calculators LIC plans Pension

New Jeevan Shanti (Plan 758)

LIC's deferred annuity: pay a lump sum today, choose when the income starts (1–12 years from now), and receive a guaranteed lifetime income from the vesting date. The longer you defer, the higher the monthly income.

Age 30–79 Single premium Deferment 1–12 yrs Non-participating
Read our take ↓
Illustrative rates. Actual annuity rates are locked in at the time of purchase and depend on your exact age and deferment period. Verify with LIC before committing. Source: LIC CIS (Plan 758), licindia.in.
yrs
₹
1 yr 12 yrs
Annuity option
Monthly income from age 60
₹11,027
₹1,32,322 per year for life
Estimated corpus at vesting (age 60)
₹15,03,657
After 5 years of accumulation
Effective yield on original investment
13.23% p.a.
(8.80% p.a. on vested corpus)
Break-even (original PP recovered from annuity payments)
Age 68 (8 years of payments from vesting)
Cumulative annuity received (from vesting)
After 10 years of annuity ₹13,23,218
After 20 years of annuity ₹26,46,436
After 30 years of annuity ₹39,69,654
+ ₹10,00,000 returned to nominee on death (Return of Purchase Price option)
Indicative annuity rates by age and deferment period (illustrative)

Monthly income per ₹10,00,000 purchase price, Option A (single life), from vesting date. Rates are illustrative — verify with LIC before purchase. Last updated: 1 May 2026.

Entry age Defer 1 yr
(vests at age X+1)		Defer 3 yrs
(vests at age X+3)		Defer 5 yrs
(vests at age X+5)		Defer 10 yrs
(vests at age X+10)
Annual Monthly Annual Monthly Annual Monthly Annual Monthly
40 years ₹71,604 ₹5,967 ₹86,728 ₹7,227 ₹1,04,504 ₹8,709 ₹1,76,369 ₹14,697
50 years ₹81,756 ₹6,813 ₹99,756 ₹8,313 ₹1,21,044 ₹10,087 ₹2,08,328 ₹17,361
55 years ₹88,560 ₹7,380 ₹1,08,570 ₹9,047 ₹1,32,322 ₹11,027 ₹2,34,369 ₹19,531
60 years ₹97,416 ₹8,118 ₹1,20,832 ₹10,069 ₹1,48,862 ₹12,405 ₹2,67,512 ₹22,293
65 years ₹1,09,944 ₹9,162 ₹1,37,181 ₹11,432 ₹1,69,913 ₹14,159 ₹3,12,492 ₹26,041
70 years ₹1,26,144 ₹10,512 ₹1,58,895 ₹13,241 ₹1,98,483 ₹16,540 ₹3,74,043 ₹31,170

Joint-life (Option B) rates are approximately 5–8% lower. All figures assume Return of Purchase Price on death. Vested corpus grows at approximately 8–9.5% p.a. (implied rate, varies by deferment period). Source: LIC CIS Plan 758 (licindia.in).

Our Take

New Jeevan Shanti (Plan 758)

Editorial rating:  3.5/5  — Rate-lock advantage but illiquid during deferment; compare opportunity cost carefully

New Jeevan Shanti (Plan 758) is LIC's deferred annuity — you pay a lump sum today and choose when the income starts (1–12 years from now). During the deferment period the policy accrues Guaranteed Additions, so the annuity you receive is significantly higher than an immediate annuity purchased with the same sum. This makes it attractive for someone who wants to pre-fund retirement income at current (potentially lower) annuity rates. The key trade-off: you receive no income during deferment, unlike an FD which pays interest throughout.

  • Deferment period 1–12 years — longer deferment = higher monthly income
  • Annuity rate locked in at inception — immune to future interest rate cuts
  • Option A (single life) and Option B (joint life, last survivor)
  • No income during deferment — compare opportunity cost vs FD + immediate annuity
  • Purchase price returned to nominee on death (both options)
  • Break-even from vesting date — typically 12–16 years of annuity payments

Eligibility & Key Parameters

Plan typeNon-participating, non-linked deferred annuity
Entry age30 – 79 years
Vesting age31 – 80 years
Deferment period1 – 12 years (integer, chosen at inception)
PremiumSingle lump sum (Purchase Price)
Min purchase price₹1,00,000
Max purchase priceNo limit
Annuity frequencyMonthly, quarterly, half-yearly, or yearly
Annuity guaranteed?Yes — locked in at inception, payable for life
Online purchaseYes (licindia.in)

Annuity Options

Option Coverage On death
Option A Single life — income stops on your death 100% Purchase Price returned to nominee
Option B Joint life, last survivor — income continues to joint-life annuitant 100% Purchase Price returned to nominee on death of last survivor

The annuity option and deferment period are irrevocable once chosen. Joint-life annuitant can be your spouse, lineal descendant, lineal ascendant, or sibling.

How Deferment Affects Your Income

During the deferment period LIC credits Guaranteed Additions to the policy. These effectively compound your purchase price so that by the time the annuity starts, the policy's accumulated value is significantly higher than what you paid. A longer deferment means:

  • Higher monthly income (more accumulation, older vesting age → higher annuity rate)
  • Later start — you wait longer before receiving any income
  • No income during deferment (unlike an FD which pays interest throughout)

The break-even vs an FD alternative depends on your time horizon. The calculator above lets you compare the monthly income at each deferment period on the same purchase price.

⚠ Tax Treatment

Purchase price paid Sec 80CCC deduction — up to ₹1.5L per year within the overall Sec 80C ceiling. Single-premium qualifies only in the year of payment.
During deferment No income received; no tax liability during this period.
Annuity received (each year) Fully taxable as "income from other sources" at your marginal slab rate. At the 30% slab: ₹1,00,000 annuity → ₹70,000 net.
Death benefit (PP returned) Taxable in the nominee's hands as income in the year received.

Sources

  • LIC New Jeevan Shanti (Plan 758) official page — CIS, policy document, and sales brochure (licindia.in), downloaded 2026-04-26.
  • Annuity rates in the calculator are illustrative, calibrated to LIC CIS documents. The exact rate is determined by LIC at time of purchase and is guaranteed for life.

This page is an independent analysis. Asymmetrica is not affiliated with or endorsed by LIC of India. Verify current annuity rates directly with LIC before purchasing.

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