Which is better Jeevan Shanti or Pmvvy?

Under Jeevan Shanti, where he needs to defer his pension by a year, he would receive ₹54,900. The ₹15 lakh cap on total investments restricts your monthly pension to ₹9,250. PMVVY offers the same pension rate for all subscribers above 60. In other immediate annuity plans, pension rates rise substantially with age.

What is agent commission for Jeevan Shanti?

35\% Commission on 1st year Premium Earn high commission on the policies. You will get 35\% commission on 1st year premium, then 7.5\% for 2nd and 3rd year + 5\% commission till the policy ends.

Is LIC closing Jeevan Shanti?

“With the introduction of new immediate annuity plan Jeevan Akshay-VII, all the immediate annuity options (i.e. Option A to J) available under Jeevan Shanti shall be withdrawn with effect from August 25, 2020,” said LIC of India in its Circular, adding, “However, the deferred annuity options (i.e. Option 1 & Option 2) …

Is it worth investing in PMVVY?

However, if a senior citizen is looking for an option that will give regular monthly income, then Pradhan Mantri Vaya Vandana Yojana (PMVVY) can be a good investment option for them.

Do agents get commission on PMVVY?

Insurance intermediaries such as agents and brokers will get a commission of 0.1\% on invested amount in a newly launched pension scheme for senior citizen called Pradhan Mantri Vaya Vandana Yojana (PMVVY).

What is the interest rate for LIC Jeevan Shanti?

Under different pension plans at intervals of 5 to 20 years, Jeevan Shanti Plan has the option of pension on your deposit at the rate of 8.79 to 21.6 per cent per annum.

What is the current interest rate for LIC Jeevan Shanti?

What is the benefit of LIC Jeevan Shanti?

Benefits. Make one time investment and get Guaranteed life long income. 9 different annuity options to choose from to suit every need and circumstance. Option to choose either Immediate Annuity or postpone it to a future date as Deferred Annuity.

What is the current interest rate in PMVVY?

Pradhan Mantri Vaya Vandana Yojana (PMVVY) provides a government return of 7.4\% p.a. payable monthly. In case you subscribe for monthly pension scheme, the 7.4\% annual interest is equivalent to 7.66\% p.a. Since the scheme essentially operates as a pension plan, it does not attract any GST or service charge.