LIC Jeevan Akshay Policy
The Life Insurance Corporation of India (LIC) offered an Immediate Annuity plan named as “LIC Jeevan Akshay Policy”. Individuals can purchase the एलआईसी का जीवन अक्षय प्लान easily by paying the lump-sum amount. The policy holder can pay annuity as per his/her choice that is annually, biannually, quarterly, or monthly. There are 06 options for the plan. The details of the Plan Premium, Benefits, features and other information have been provided below.
LIC Jeevan Akshay Policy- Features
- It is an annuity pension plan.
- There is the option to pay the premium in lumpsum
- There are 6 options that are
- Annuity for life
- Annuity guaranteed for a certain period
- Annuity with return of purchase price on death
- Increasing Annuity
- Joint Life Last Survivor Annuity
- No need of medical examination
- There are four options to pay annuity that are monthly, annually, biannually as chosen
- The corporation will give you special incentives on online purchase of plan
- No surrender value will be given to policy holder
- Individuals is not eligible to take a loan against this policy
- The plan does not acquire any paid-up value
LIC Jeevan Akshay Policy- Eligibility Criteria
Age For Purchase Policy
- Minimum age-30 years
- Maximum age- 65 years
Purchase Price of Annuity
- Minimum purchase- Rs.1,00,000
- Maximum purchase- No limit
LIC Jeevan Akshay Plan- Benefits
The benefit at the time of death will totally depends on the plan choose by the policy holder.
This play will not provide any maturity benefit
Income tax benefit
The policy holder will get the tax benefits all the premiums paid for the LIC Jeevan Akshay Plan will be exempted from tax under section 80C of the Income Tax Act.
LIC Jeevan Akshay- Premium Payment
The annuity can be paid
Here in the below stated example of annuity pay-outs for Rs.1 lakh for different options of the plan.
|Age||Option 1||Option 2||Option 3||Option 4||Option 5||Option 6||Option 7|
Mr. shivam who is 30 years of age, working professional intends to purchase a LIC Jeevan Akshay policy with a purchase annuity of Rs.50,000. Here are the here option and rates for the plan have a look.
Annuity payable for life
In this option Mr. shivamwill earn pension till he is alive.
Annuity With Return Of Purchase Price On Death:
The corporation will pay the pension to Mr. shivam till he is alive and the nominee will get the remaining amount after the Mr. shivam dies.
Annuity For Life: