0% GST on LIC Policies from Sep 22, 2025 licindia.in ↗ | India · 2026
Plan 850 Pension 0% GST 2025

Jeevan Shanti (Plan 850)

Single Premium Annuity — Guaranteed Pension for Life

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About Jeevan Shanti

LIC Jeevan Shanti (850) is a single premium non-participating immediate annuity plan. Pay once, get pension every month/quarter/half-year/year for life. Annuity rates range from 6.5% to 11.5% depending on age.

Key Features

Single lump sum payment — pension starts immediately
Higher age = higher annuity rate
Pension for life — never stops
Joint life option available (spouse continues pension)
Multiple payout frequencies: monthly/quarterly/yearly
0% GST on pension plans

Policy Benefits

Immediate Annuity: Pension starts within 1 month
Joint Life: Pension continues to spouse on death
Return of Purchase Price on death (some variants)
Tax: 80CCC for pension deduction

Eligibility & Terms

Min Entry Age 30 years
Max Entry Age 85 years
Min Purchase Price ₹1,50,000
Min Annuity ₹1,000/month

Annuity Rates by Age

% of Purchase Price per year
Age 30
6.5%
per year
Age 40
7.0%
per year
Age 50
7.6%
per year
Age 60
8.3%
per year
Age 70
9.2%
per year
Age 80
10.5%
per year
Age 85
11.5%
per year
Example: Age 60, Purchase Price ₹10L → Annual Pension = ₹83,000 (₹6,917/month)
Who Should Buy This Plan?

Retirees, senior citizens, NRIs wanting guaranteed lifetime pension.

Frequently Asked Questions

LIC Jeevan Shanti (850) is a single premium non-participating immediate annuity plan. Pay once, get pension every month/quarter/half-year/year for life. Annuity rates range from 6.5% to 11.5% depending on age.

Minimum entry age is 30 years and maximum entry age is 85 years.

No! From September 22, 2025, GST on all individual LIC policies including Jeevan Shanti is 0%. Earlier, endowment plans had 4.5% GST and term plans had 18% GST. This saves you significantly — for example, ₹10L SA endowment saves ₹2,688/yr.

Use our free LIC Calculator on this site. Select Plan 850, enter your age, sum assured and policy term — get instant accurate premium using LIC official tabular rates. The calculator includes all rebates and 2025-26 bonus slabs.

Surrender is available after 3 full years of premium payment. You receive the higher of Guaranteed Surrender Value (30%-90% of premiums paid) or Special Surrender Value. However, surrendering early results in significant loss. Consider a policy loan at 10% instead.

You need: (1) Identity proof — Aadhaar/PAN/Passport, (2) Address proof — Aadhaar/Utility bill, (3) Age proof — Birth certificate/School certificate, (4) Income proof for high SA — Salary slip/ITR, (5) Passport-size photographs, (6) Filled proposal form from LIC branch or online.

Annuity = Purchase Price × Annuity Rate ÷ 100. For example, at age 60 with Purchase Price of ₹10 Lakhs and annuity rate 8.3%, annual pension = ₹83,000 (₹6,917/month). Higher age = higher rate. Use our calculator to see exact pension for your age.

Related Pension Plans
Plan 858
Saral Pension
Standard Annuity — Simple Guaranteed Lifetime Pension
Plan 842
PMVVY
Government-Backed Senior Citizen Pension Scheme
Plan 850 Quick Info
Min Age
30 yr
Max Age
85 yr
Min SA
₹150,000
GST
0% ✅
Calculate My Premium
Sample Premium
Age 60yr · ₹10.0L SA
₹83,000 /yr
Approx · 0% GST · verify with calculator
GST = 0% (Sep 2025)

From September 22, 2025, no GST on Jeevan Shanti. You save up to 18% on premium!

Rates shown are indicative. Verify actual premium at licindia.in or with a licensed LIC agent.
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