New Delhi, Oct. 23 -- Life Insurance Corporation (LIC) has recently launched a new non-linked, non-participating, individual, single-premium deferred annuity scheme - New Jeevan Shanti plan. The annuity rates are guaranteed at the inception of the policy and annuities are payable post deferment period throughout the life time of annuitants, the insurer said in a statement.

There are two annuity options available - deferred annuity for single life, and deferred annuity for joint life.

Under the deferred annuity for single life plan, the annuity payments shall be made in arrears for as long as the annuitant is alive after the deferment period. Customer can chosose the mode of payments. In case of unfortunate death, during or after the def...