jeevan shanti vs jeevan umang

Which policy is better Jeevan Shanti or Jeevan Umang

What is Jeevan Shanti?

Jeevan shanti is a fixed income plan from LIC of India that can be taken by anyone and they can start getting monthly pension immediate or after a few (1 to 20) years. The policy holder has an option to either start the pension immediately or after any period of his choice from 1 year to 20 years.

Jeevan Shanti features

  • Fixed income, life long
  • Full principal amount return after death
  • No insurance cover
  • Dual lives can be opted
  • Immediate or deferred pension

When shanti is best option

People who want good monthly pension assured and want to keep their principal save can opt for Shanti. The plan can be taken for life long returns. People who have some additional amount that they do not need for a long time can opt for this.

What is Jeevan Umang?

Jeevan Umang is a yearly money back plan with increasing risk cover. The plan requires the investor to save for minimum 15 years and start getting the yearly payout for the rest of his life. The insurance cover or the death claim also keeps increasing with every passing year.

Jeevan Umang features

  • Yearly payout life long
  • Increasing life cover

When Umang is best option

People who want to systematically plan for their retired life can opt for Umang. The plan comes with minimum payment period of 15 years, so the investor gets a good time to plan out the pension. The pension is fixed and there is also a fixed death claim that is paid to the nominee

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Conclusion

Jeevan shanti is best for people who are looking to get immediate pension or can wait for a short duration but do not want to invest periodically. The pension starts immediately and there is no increase in the death claim. Jeevan Umang gives you an option to plan ut your pension by investing small amounts every year and the life cover also keeps increasing.

To understand the differences in details or to buy Jeevan Shanti and Jeevan Umang, contact us.

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