LIC Jeevan Shanti plan - why immediate annuity now?
Due to COVIV-19, there has been contraction of the economy. Business men are apprehensive about future and hence are not investing more monies in business. They are also worried about future income. Hence many are investing in Shanti to secure their future and get steady guaranteed income. Big investments in Tiruppur and Salem are testimony to this fact.
Non resident Indians are worried about the continuation of their employment abroad, hence they are investing in Shanti, so that when they come back to India they have steady source of income. Big investments in Trivandrum and Ernakulam are examples. Many retirees are apprehensive about falling interest rates and are investing in Shanti to get steady guaranteed income. The huge flow in Urban areas are examples.
Many young professionals want to retire early. They are using deferred option in Shanti to create steady income flow after early retirement. Natural calamities like flood and earthquakes combined with the sluggishness in real estate market are forcing people to invest in financial assets and they are investing in Shanti to generate steady returns
Debt fund investors in mutual funds suffered huge value erosions recently due to defaults and they are moving their monies to Shanti for safety and steady income. Share market valuations are unreasonably high and people are booking profits and moving the monies to Shanti
The demand for gold has gone done due to high prices and change in psyche of younger generation. They prefer less ostentatious and inexpensive fancy ornaments. These monies are moving to Shanti. Ostentatious weddings have stopped. Savings moving to Shanti plan
Middle and upper middle class people are choosing various deferment periods to get their desired returns and are investing small amounts of ₹10-₹15 lac. Many in Kerala by default chose 20 year deferment period to avail 18% annuity.
Employers are investing in Shanti under Employer Employee scheme to earn the loyalty of employees as well as provide for their pension. Parents with special children are using Shanti to create steady income for their children using the concessions given in Shanti Joint life option used by elders to provide for their spouses and their children and the investment benefits three generations
Jeevan Shanti can be assigned and hence many are using it to provide collateral for availing loans. Trusts are investing big monies in the names of principal trustees and getting it assigned to the Trust to receive steady income. Rich people are using Marriage Women Property act, so that the capital and annuity belongs to the Trust and the creditors can not attach it
- HUF are investing in Shanti to generate steady returns .
- Option for joint life ensures benefits for 3 generations.
- Liquidity by way of loans is a special feature in this pension product .
- 10 attractive options available .
