LIC operates many types of schemes. Here you can start investing to secure the future of your children and also to financially secure your retirement life. Today we are going to tell you about a very wonderful scheme of LIC. The name of this scheme is LIC Jeevan Akshay Policy. If you are planning your retirement.

In this situation you can start investing in LIC’s Jeevan Lakshya policy. By investing in this scheme you are getting many great benefits. Let us know about it in detail – LIC’s Jeevan Akshay Plan is a special type of single premium policy. In this you have to invest your money only once.

Under this scheme, you start getting payouts from the inception of the policy. The special thing about LIC’s Jeevan Akshay Plan is that the more you invest in it. The more pension you get. You can invest a minimum of Rs 1 lakh in this scheme. To invest, your minimum age should be 30 years. If you invest Rs 35 lakh in this scheme.

In such a situation, you will get a pension of Rs 16,479 every month. The pension amount on quarterly basis is Rs 49,744. The amount of pension on half yearly basis is Rs 1,00,275. Apart from this, you will get Rs 2,03,700 on annual basis. This scheme is quite safe from investment point of view. For this reason many people in the country are investing in this scheme of LIC.

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LIC launched this plan on 28 February this year. This plan can be subscribed both offline and online. LIC Jeevan Akshay-VII Plan is an immediate annuity plan wherein the policyholder has the option to choose the type of annuity from 10 available options on payment of a lump sum amount.

The annuity rates are guaranteed at the inception of the policy and the annuity policyholder is given a pension for life.

Annuity Option for LIC’s Jeevan Akshay-VII Plan

1. Option A: Immediate Annuity for life.
2. Option B: Guaranteed period of 5 years and thereafter immediate annuity for life.
3. Option C: Guaranteed period of 10 years and thereafter immediate annuity for life.
4. Option D: Guaranteed period of 15 years and thereafter immediate annuity for life.
5. Option E: Guaranteed period of 20 years and thereafter immediate annuity for life.
6. Option F: Immediate Annuity for life with return of purchase price.
7. Option G: Immediate annuity for life with increasing rate of 3% p.a.
8. Option H: Immediate annuity for life with provision of 50% of the annuity to the second policyholder on death of the policyholder under Joint Life Annuity Plan.
9. Option I: Joint immediate annuity for life with provision for 100% of the annuity as long as either of the annuitants survives.
10. Option J: Joint Life Immediate Annuity for life with provision for 100% of the annuity as long as either of the annuitants survives and return of purchase price on his death.

Terms-Conditions and Benefits of LIC Jeevan Akshay-VII Plan

Remember that the immediate annuity plan under LIC Jeevan Akshay-VII cannot be changed once chosen. LIC Jeevan Akshay-VII plan has a minimum purchase price of Rs.10,00,000 and the entry age into the plan is 25 years to 29 years and 30 years or more subject to minimum annuity. Whereas, there is no limit for the maximum purchase price for the plan. At the same time, the maximum age limit at the time of admission is 85 years for the rest except option F.

12 thousand pension on 1 lakh investment

If you invest 1 lakh rupees under LIC Jeevan Akshay-VII policy, then you get 12 thousand rupees annually as pension. Monthly, quarterly, half-yearly and yearly options are available for pension. For more information related to this policy of LIC, investors must see the conditions on the official website of LIC.

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