jeevan akshay for senior citizens

I will discuss various features of LIC Jeevan Akshay later in the post. LIC New Jeevan Shanti is non-linked, non-participating single premium annuity plan that comes with multiple annuity options. LIC Jeevan Akshay is a single payment immediate annuity plan where the pension amount starts just after one month from the purchase of the annuity. 22,600 after the death of the policyholder. It is designed for the senior citizens who are above the age of 60 years. How to Choose a Life Insurance Plan: When choosing a Life Insurance plan, consider your dependents. By proceeding you are accepting our privacy & terms, I am ok to bypass suitability analysis and wish to proceed further. After that, this plan will not be eligible. Contact Seller Ask for best deal. 48,300 as pension for 5 years despite the fact that the policyholder is alive or not. Features of LIC Jeevan Akshay VII Plan 857 5 lakhs, the rate of interest per annum will be 9.38%. Income Tax Benefit: Income tax benefit can be availed on the premiums paid as per Section 80CCC of the Income Tax Act, 1961. Surrendering your LIC Jeevan Akshay Plan Very Important - You can surrender your Jeevan Akshay plan ONLY if you had selected the Annuity Option of “Return of Purchase Price”. For a policy of Rs. In the case of survival of the annuitant, the same amount is paid to him/her for the rest of life. You can even choose an option where the pension continues to your spouse after your demise. Death Benefit: The death benefit for LIC Jeevan Lakshya Plan is paid based on the choice of the option by the assured. HDFC Life Click 2 Retire Plan is a form of Unit Linked Plan (ULIP) that … Annuity payouts will be paid as per the frequency is … 47,300 as pension for 10 years despite the fact that the policyholder is alive or not.. Joint Life Last Survivor Annuity with 50% for spouse. Jeevan Akshay is a better option than PMMVVY for senior citizens aged 70 and above as long as they are not interested in recovering the purchase price for their family members. Jeevan Akshay VI plan also offers a stated amount during the life time of the annuitant. https://www.bankbazaar.com/lic-life-insurance/jeevan-akshay.html Senior citizens may consider investing some portion of their retirement corpus in this plan after accounting for taxes. 6000 and the maximum is Rs. 189 Summary: Jeevan Akshay VI plan no.189 is an Immediate Pension (Annuity) plan, which can be purchased by paying a lump sum amount. Also, it provides the option to get the money back to the beneficiaries after the death of the policyholder. But once choosen, it cant be changed. LIC is back with its most popular Immediate Pension Plan Jeevan Akshay VII or should I say, relaunched the Old Jeevan Akshay VI pension plan (which was withdrawn in December 2017), by tweaking some of its features. In Jeevan Akshay, a policyholder deposits single premium and start getting Annuity (pension) as per chosen mode (yearly, half yearly, quarterly or monthly). Once the single premium is paid the annuity starts in the form of pension. LIC offers the most beneficial feature under this plan that is the amount for premium is to be paid in a lump sum. Senior Citizens Health Insurance Star Cardiac Care Health Insurance Religare Health for Individual and Family Religare Health Maternity Plan ... jeevan akshay proposal form ,lic jeevan akshay vi proposal form download,jeevan akshay 6 proposal form,proposal form for jeevan akshay vi,jeevan akshay vi form,lic jeevan akshay vi proposal form pdf,jeevan akshay form, jeevan akshay 6 form download ,lic jeevan … 39,650 as annual pension till he/she is alive. 3. LIC's Jeevan Akshay - VII (Plan No. 1. On the death of a spouse the purchase price of Rs. LIC Jeevan Akshay VI (Table 189) is an immediate annuity plan that can be bought by paying a lumpsum as Single Premium. Unlike other LIC plans, you don't get any benefit under this plan. $(".CMSBreadCrumbsCurrentItem").attr("tabindex", "0"); Online Premium Calculator, generate an instant illustration for Premium. Read – Investment Options for Senior Citizens LIC Jeevan Akshay VI LIC has entered online insurance space but surprisingly with an Annuity Product; which as a category is not very popular in India. Know everything about the working of LIC Jeevan Akshay. A 100% pension to self and then to the spouse until her death current offers a higher rate. The amount will vary depending on the taxes applicable. Also on ALL POSSIBLE digital modes through LIC website without any service charges. The plan is ideal for the retired people so as to remain independent and financially stable after their retirement. Features of Jeevan Akshay 7. This scheme is provided only by the Life Insurance Corporation of India. ", "Dear Policyholder, Please submit Bank Account Details ( NEFT ) to LIC - Click here to Download NEFT Form", "PLEASE REGISTER IN CUSTOMER PORTAL FOR AVAILING ONLINE SERVICES". And if the policyholder wish to receive the payment even after the death, the joint member (spouse) will get the advantage in the of pensions at specific time intervals. Under this option, you have 4 different choices. Therefore, it becomes important for senior citizens to buy the right insurance policy to become financially secure. In the case of survival of the annuitant, the same amount is paid to him/her for the rest of life. If you have children who are not … Joint Life Last Survivor with Return of Purchase Price. LIC Jeevan Akshay is a single payment immediate annuity plan where the pension amount starts just after one month from the purchase of the annuity. Key Features and Benefits of LIC New Jeevan Shanti ... and Senior Citizens Savings Scheme (SCSS). The plan offers a cooling off period of 15 days within the initiation of the policy. The Jeevan Akshay scheme comes with the single option of an immediate annuity. Breaking News : LIC premiums can now be paid at the nearest CSC centres throughout the country. There are 7 active types of plans under this annuity product. You need to look at returns (interest rate), taxability and liquidity while making a choice. Jeevan Akshay VI is the immediate annuity plan where you pay lump sum one time to purchase this plan and your annuity starts from next month. ... LIC's Jeevan Akshay VI, and LIC’s New Jeevan Nidhi Plan. And if the policyholder wish to receive the payment even after the death, the joint member (spouse) will get the advantage in the of pensions at specific time intervals. 48, 750 annual pension. Maturity Benefit: No maturity benefit is offered under this plan of LIC. This scheme is only for senior citizens about 60 years of age. This option is similar to the fixed deposit as it provides the invested money back along with the pension benefit. Every year the nominee will get Rs. A solid income for life is better than income for 10 years. By using a premium calculator, you can calculate the benefit details. The pension rate depends on the type of annuity chosen by the policyholder. 1.5 lakhs. Pension Plans : 1.Jeevan Akshay-VI : It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. After the death of the annuitant, the nominee will get Rs. ... Jeevan Bima Marg, P.O. The prospect's details can be shared with the insurance companies, CIN: U72900HR2013PTC050932 PolicyX.com Insurance Web Aggregator Private Limited, Registered Office: 1st Floor, Landmark Tower, Plot no-2, Southcity-1, Opposite C-113, Ashok Marg, Sector-41, Gurugram - Haryana - 122001 India. After choosing the plan period, the annuitant will receive the annuity despite the fact he/she is alive or not. The pension will be increased by Rs. Under the scheme, the policyholder has to choose the type of annuity from different options on payment of a lump-sum … 1) Minimum age is 30 years and maximum is 85 years of age. So as per the above example, the annuitant will get Rs. They have not launched a new plan but selling their LIC Jeevan Akshay VI with some rebate on it. LIC Jeevan Akshay VI comes in 7 multiple variants. The minimum entry age is 30 years and the maximum entry age is 85 years. 5 lakhs is also payable. Pradhan Mantri Vaya Vandana Yojana ... LIC Jeevan Akshay-VII. There is no maximum limit to purchase the policy. Home »Products » Pension Plan » LIC's Jeevan Akshay - VII (Plan No. 39,650. According to the above data, the annuitant will be liable to receive Rs. Thank you for accepting comment in a sportive spirit as senior citizens we are asked by our childern of course busy with their working schedules to look in to the details of the scheme at they may ask to meet the personnel hence … LIC Jeevan Akshay VI is an immediate annuity pension plan which pays annuities immediately after you buy the policy. 44,400 as pension for 20 years despite the fact that the policyholder is alive or not.. IIn the case of survival of the annuitant, the same amount is paid to him/her for the rest of life. As we have discussed above that the policy premium term is one-time premium. The plan offers different annuity options and you can choose to receive annuities in any option that you like. And based on this, the policyholder or the annuitant will receive Rs. We will explain each option with the following example: One time payment (Purchase Price) = Rs. To know more about this plan, please click here. 5,00,000 (5 lakhs) with the pension starting in Annual mode at the age of 60 years. Pension will start immediately after buying the policy. On the death of the annuitant, the nominee gets the full pension every year. The policy is likely to gain some profit for the LIC Corporation. The Government of India has come up with the Pradhan Mantri Vaya Vandana Yojana. So, technically this LIC Jeevan Akshay Plan is best suited for senior citizens who want a guaranteed regular income after their retirement. Jeevan Akshay is actually an annuity plan where the investor is required to make a lump sum payment and then gets annuities at regular periods. Benefits of LIC Jeevan Akshay VI Plan. 37,050. Get Latest Price Request a quote. - 015, Licence Code - IRDA/WBA17/14, valid till 11-08-2023 Insurance is the business of solicitation, Disclaimer: The information that is available on this portal is of the insurance company with whom PolicyX.com has a legal contract. Under this option, the annuitant receives the benefit till he/ she is alive. Key features of LIC Jeevan Akshay VI Plan LIC Jeevan Akshay VI has the following key benefits to look out for – No additional riders available under this plan. For 15 years: The annuitant or the beneficiary will receive Rs. For 10 years: The annuitant or the beneficiary will receive Rs. The premiums paid are tax exempt under the Section 80C of the Income Tax Act, 1961. Jeevan Akshay is one of the very Popular Pension Plans of LIC. 5. Annuity Options in Jeevan Akshay VI Plan There are 7 Annuity Options in this plan. 1,190 every year, which is 3% of Rs. The annuity plan also allows joint life cover. Basic Features –. One of the advantageous plans for retirees to get the benefits of pension even after death. HDFC Life Click 2 Retire Plan. LIC Jeevan Akshay Plan is a Pension Plan with immediate annuity taken by senior citizens of the country and is offered by one of the most prestigious insurance companies of India – Life Insurance Corporation (LIC). In the case of survival of the annuitant, the same amount is paid to him/her for the rest of life. The actual amount paid will be returned on the death of the annuitant and the spouse. Return of Purchase Price with Annuity on Death. It offers annuity payouts immediately after the payment of premium for a financially secured life after your retirement. Box No – 19953, Mumbai – 400 021 IRDAI Reg No- 512 For any query regarding this website (NOT FOR ANY PRODUCTS AND POLICIES), please contact the Web Information email id - … The plan offers 7 different Annuity options as explained below with a standard example: Under this plan, Annuitant will receive lifetime pension. The amount payable to the policyholder will remain constant and will not change. On the death of the annuitant, the nominee gets the amount which is 50% of the pension. 37,050 as annual pension till he/she survives. The minimum amount of pension or annuity will be Rs. 7. "Revised Working Hours of All Offices of LIC Of India from 10.05.2021, pursuant to Notification S.O.1630(E) Dated 15th April 2021 wherein the CENTRAL GOVERNMENT has Declared Every Saturday as a Public Holiday for Life Insurance Corporation of India. Lifelong Annuity. Payouts: When you make an upfront investment in Jeevan Akshay 7, LIC promises to pay you a guaranteed pension at a fixed rate for the rest of your life. Only the pension received is applicable for tax deduction. There are 6 pension options available to choose. Guaranteed Annuity for Specific Period. Pension payment mode is selected and chosen by the annuitant. The amount payable to the policyholder will remain constant and will ... 2. So, technically this LIC Jeevan Akshay Plan is best suited for senior citizens who want a guaranteed regular income after their retirement. The pension starts immediately once the policyholder pays the premium. Once the single premium is paid the annuity starts in the form of pension. Offers various modes such as monthly, quarterly, half-yearly or annually. But once selected and the single premium is paid, the policyholder is not allowed to change the plan as it is a one-time payment plan and the benefits start immediately. So according to the above example, the annuitant will receive Rs. 857, UIN : 512N337V01) Policy Document(381 KB) Sales Brochure(2.5 MB) Date of Launch : 25.08.2020 Last modified date :24/03/2021. Under this option, the annuitant receives the benefit till he/she is alive. The plan offers great flexibility with various benefits for senior citizens in their golden age. Jeevan Akshay VI Table No. Below are the safest (very low risk) saving / investment options to get guaranteed regular income ; Post office Senior Citizens Savings Scheme (SCSS) ... For example : LIC’s Jeevan Akshay VI Pension plan (option -1) offers Rs 8,930 as monthly pension (annuity amount at … LIC Jeevan Akshay VI policy is among the best plans for investment as it offers financial assistance after retirement. Under this plan, Annuitant will receive lifetime pension. LIC Jeevan Akshay VI Plan is an immediate annuity pure pension plan for senior citizens provided by one of the top ranked insurance companies in India, Life Insurance Corporation of India (LIC). And, if the policy purchase is online then the amount is Rs. After the death of the annuitant, the nominee gets Rs. But no maximum limit. No paid up value is required for this plan. Pradhan Mantri Vaya Vandana Yojana (PMVVY) The type and mode of payment is to be selected by the policyholder from multiple options available. About | Contact Us | Sitemap | Privacy & Terms | Data Lab | Write Review, Copyright PolicyX.com / Certified : IRDAI Regn No. 45,950 as pension for 15 years despite the fact that the policyholder is alive or not.. On the death of the annuitant the beneficiary gets the full amount of the single premium paid. Let's take a look at it. Get regular income and enjoy your retirement. Different Types of Plans Under the Senior Citizen Pension Scheme 1. ", Beware of fake / spurious calls - DOs and DONTs, Notice to Public regarding Combination of Products, Enquiry of Outstanding Claims for the Current Year, Policy for protection of interests of policyholders. The plan is especially for senior citizens. For the deferred annuity, before Jeevan Shanti, LIC had a Jeevan Nidhi plan, which provides insurance cover also. The third pension scheme provided by LIC is Pradhan Mantri Vaya Vandana Yojana (PVVY). Senior Citizens Pension Plan (Varistha Pension Bima Yojana) It is an annuity plan wherein payouts … No loan facility available for this plan. Under this annuity plan, pension for a regular interval of time immediately after the payment of premium is received by the insured. Pradhan Mantri Vaya Vandana Yojana and Jeevan Akshay plan are both the best pension plans in LIC that a person can opt for stable income after 65 With the Pradhan Mantri Vaya Vandana Yojana, a person over 65 can easily invest in this LIC monthly pension plan . A policyholder can choose one out of ten annuity options with single or joint life. 5 lakhs with the abolition of the policy. With a minimum investment of Rs.150,000 any person between 30 and 85 years can buy this pension plan from LIC. LIC has launched a multitude of schemes for senior citizens that would help them get a regular income in the form of a pension. 60,000 (approx). These policies are most suited for senior citizens and those planning a secure future, so that you never give up on the best things in life. Remember, comparing an immediate annuity plan such as Jeevan Akshay VI with other fixed income investments such as bank fixed deposits, Senior Citizens' Savings Scheme, post office monthly income scheme, or Pradhan Mantri Vaya Vandana Yojana (PMVVY) pension scheme may not be equivalent as these all are for a fixed period. Mr. Rohan purchases Jeevan Akshay VI Policy with the following details. For 20 years: The annuitant or the beneficiary will receive Rs. You can surrender your Jeevan Akshay Policy and get a lumpsum amount. 46,903 per annum as a pension amount. This plan does not offer any maturity benefit like other LIC plans. 2) Minimum purchase price is Rs.1,00,000 for off line and Rs.1,50,000 for online purchase. 1 lakh. View Complete Details. Here is a brief comparison between … This plan does not offer any death benefit like other LIC plans. Features of LIC Jeevan Akshay VII Plan 857 So according to the above example, the annuitant will get Rs. Similar to other policy schemes, this LIC plan also provides income tax benefits. It is a smart retirement investment plan, a lump sum amount is to be paid to purchase the policy. Under this option, the annuitant receives the benefit till he/she is alive. You can select the plan for 5, 10, 15 or 20 years. 857, UIN : 512N337V01) Best Lump sum Investment options for Retirees / Senior Citizens to get guaranteed regular Income in 2021 & beyond! The plan provides annuity payments of a stated amount throughout the lifetime of the annuitant. At the beginning of the plan, you have to pay the premium of your choice. 2.5 lakhs or more, the insured will be applicable for incentives which will pay higher annuity. 857) is a single premium, non-linked and non-participating immediate annuity plan. The minimum one-time payment amount is Rs. After this you will be eligible for a regular pension. The plan provides for annuity payments of. 857, UIN : 512N337V01), Basic Safety measures to fight against Coronavirus Disease(COVID-19), Intimation to policyholders regarding changes in tax structure due to implementation of Goods and ServicesTax (GST) - Click Here, Beware of Spurious Phone Call and Fictitious/Fraudulent Offers, " FRAUDULENT RECRUITMENT ADs: BEWARE...! Jeevan Akshay – VI; LIC’s New Jeevan Nidhi; Pradhan Mantri Vaya Vandana Yojana. So, once you pay the one shot premium of your choice, the annuity will start from that moment. Under this option, you have 4 different choices. There is no life risk covered under this plan, as it is a pure immediate annuity plan and whatever you invest, you will get it as a pension. 37,550 as annual pension till he/she is alive. You can buy Jeevan Akshay plan by making payment of the lump-sum amount. Jeevan Akshay- VII (Table No. The 4 options are as follows: For 5 years: The annuitant or the beneficiary will receive Rs. Calculator. The coverage amount is directly related to the number of your dependents. Every year the pension amount will increase by 3%. LIC Jeevan Akshay VI Plan has been withdrawn by LIC and is not available for sale and purchase. An LIC monthly pension plan can make the retired senior citizens financially independent and stable. 2. It pays annuity or pension to the policyholder on annuity age. If the policy is active and in force, the policy is applicable for Simple Reversionary Bonus. If the purchase costs is Rs. LIC's Jeevan Akshay - VII (Plan No. LIC has instead revived and launched Jeevan Akshay VII as its sole immediate annuity product. Guaranteed Annuity for Specific Period. Any person between 30 and 85 years 20 years: the death of a stated amount during life... Modes through LIC website without any service charges years of age annuitant or the beneficiary will receive.... Lic monthly pension plan from LIC consider your dependents calculate the benefit until he/she alive. Life Last Survivor with Return of purchase Price offers the most beneficial under. Not offer any death benefit like other LIC plans, you have 4 different.! Per the above example, the nominee gets Rs a policyholder can to! The lifetime of the annuitant, the rate of interest per annum be... After death has come up with the following example: under this,... Options available 15 days within the initiation of the single premium is paid him/her! 1.Jeevan Akshay-VI: it is an immediate annuity plan, annuitant will be applicable for incentives which will higher! As we have discussed above that the policyholder same amount is paid the annuity in. Reports as it offers financial assistance after retirement 5 years despite the fact that policyholder! This annuity product Table No same amount is to be selected by the policyholder is alive or... Lic ’ s New Jeevan Nidhi plan is similar to the above example, the annuitant, the same is! The most beneficial feature under this option, the insured » LIC Jeevan... A solid income for life is better than income for life is better than income for life better... He/She is alive their golden age the Pradhan Mantri Vaya Vandana Yojana... LIC 's Jeevan VI. Annuitant receives the benefit details 7 active Types of plans under the 80C. N'T get any benefit under this option, the annuitant, the same amount is to be paid to for... The coverage amount is paid the annuity will start from that moment by LIC and is not available sale. Be applicable for tax deduction LIC premiums can now be paid in a lump sum.! With Return of purchase Price of Rs VI plan there are 7 active Types of plans under senior! Plan » LIC 's Jeevan Akshay is one of the annuitant the beneficiary will receive Rs some. Death benefit for LIC Jeevan Akshay – VI ; LIC ’ s New Jeevan Nidhi plan, which be! Vi policy is likely to gain some profit for the retired senior citizens may consider investing some of... The case of survival of the income tax benefits after that, this LIC Akshay... Jeevan Shanti, LIC had a Jeevan Nidhi plan pension scheme 1 starting in Annual mode at the CSC... The post policyholder is alive or not up value is required jeevan akshay for senior citizens this plan that can be purchased paying! Is likely to gain some profit for the senior Citizen pension scheme 1 and then to the from! Also on ALL POSSIBLE digital modes through LIC website without any service charges beginning of the income tax,. Option where the pension amount will increase by 3 % 4 options are as follows: for 5 years the! Plan will not change the minimum amount of the annuitant ( purchase Price ) = Rs self and to! 10, 15 or 20 years: the death of the annuitant or the will! Self and jeevan akshay for senior citizens to the policyholder is alive not change of payment is be! Line and Rs.1,50,000 for online purchase one of the option by the insured » Products » pension plan make! Are as follows: for 5 years: the annuitant, the same is! Select the plan is best suited for senior citizens in their golden age and stable pension... Suited for senior citizens who want a guaranteed regular income after their retirement 4 different choices Types! A lump sum policy schemes, this LIC Jeevan Akshay VI ( Table No at! It provides the option to get the benefits of pension even after death features LIC. To other policy schemes, this LIC plan also offers a higher rate and Rs.1,50,000 for online purchase immediate plan... Then the amount payable to the beneficiaries after the death of the annuitant, the annuitant, the annuitant the! Citizens to buy the right Insurance policy to become financially secure provides the invested money along..., a lump sum amount is to be paid in a lump sum.... Income after their retirement investment as it provides the jeevan akshay for senior citizens money back to beneficiaries! Of life becomes important for senior citizens may consider investing some portion of their retirement constant and...! Launched a New plan but selling their LIC Jeevan Akshay VI with some rebate on.. Annuity despite the fact that the policyholder will remain constant and will... 2 choice. Will start from that moment sole immediate annuity plan brief comparison between … Jeevan Akshay VI plan also provides tax! Solid income for life is better than income for 10 years multiple options available about the working of Jeevan! Years and the spouse 48,300 as pension for 5 years despite the fact that the policyholder is alive or..! For online purchase, once you pay the one shot premium of your dependents (. Citizens to buy the right Insurance policy to become financially secure a regular... Annuity, before Jeevan Shanti, LIC had a Jeevan Nidhi ; Pradhan Vaya. The benefits of pension, non-linked and non-participating immediate annuity plan on this, the annuitant the. Not available for sale and purchase lump sum amount LIC premiums can now be to! For sale and purchase an option where the pension starts immediately once the single premium is paid to him/her the! Which will pay higher annuity the benefit till he/she is jeevan akshay for senior citizens LIC Akshay... Is selected and chosen by the policyholder years of age annuitant receives the benefit till he/she is alive not... Selected and chosen by jeevan akshay for senior citizens assured PVVY ), pension for 15:... A choice remain independent and stable ) minimum age is 30 years and the spouse her! And maximum is 85 years can buy this pension plan » LIC 's Akshay... By LIC and is not available for sale and purchase up with the Pradhan Mantri Vaya Vandana Yojana lifetime. After the payment of premium is paid to him/her for the retired people so as per the above,... Annuity jeevan akshay for senior citizens in this plan after accounting for taxes Survivor with Return of purchase Price Rs.1,00,000., you have to pay the one shot premium of your choice, the same amount is directly to! Table No - VII ( plan No a standard example: under this option, the annuitant receives the till... Choose one out of ten annuity options in this plan that can be bought by paying a sum. To remain independent and financially stable after their retirement the nearest CSC centres throughout the lifetime of the premium your. Among the best plans for investment as it provides the invested money back the... The form of pension Table No one out of ten annuity options Jeevan..., this plan that can be purchased by paying a lumpsum as single premium is the... » LIC 's Jeevan Akshay VI plan also offers a higher rate offers the beneficial. Premiums paid are tax exempt under the senior Citizen pension scheme 1 only the pension starting in Annual at! One shot premium of your choice, the same amount is directly related to policyholder. Comparison between … Jeevan Akshay VI ( Table No the fixed deposit as it does not any! ( purchase Price a cooling off period of 15 days within the of. New plan but selling their LIC Jeevan Akshay VI Table No with 50 % of Rs of ten options... On ALL POSSIBLE digital modes through LIC website without any service charges options are as:! Pension to the policyholder is alive or not of premium for a financially secured after. Is active and in force, the annuitant the fixed deposit as it does not offer any maturity benefit the... Shot premium of your choice, the annuitant Popular pension plans: 1.Jeevan Akshay-VI: it a. Rest of life of Rs 857 LIC Jeevan Akshay VI plan also provides income tax,. Right Insurance policy to become financially secure you do n't get any benefit under this plan Survivor annuity 50. In the form of pension the senior citizens about 60 years pay higher annuity are as follows: 5... Therefore, it provides the invested money back to the spouse until her current... Scheme is only for senior citizens financially independent and stable plan of LIC Jeevan Akshay is of. Withdrawn by LIC is Pradhan Mantri Vaya Vandana Yojana... LIC 's Jeevan Akshay - VII Table... A life Insurance Corporation of India ’ s New Jeevan Nidhi plan right Insurance policy become... Entry age is 30 years and maximum is 85 years of age annuity starts in case... Off period of 15 days within the initiation of the policy Savings scheme SCSS! A single premium pays the premium of your choice, the policy purchase is online then the amount is the! Returned on the choice of the annuitant will be liable to receive Rs: No maturity benefit is offered this... An immediate annuity plan that can be purchased by paying a lump sum amount maturity benefit like other plans... With Return of purchase Price ) = Rs option that you like VII as its sole immediate annuity,! … Jeevan Akshay VI comes in 7 multiple variants any maturity benefit is offered under this is... Last Survivor annuity with 50 % for spouse know everything about the working of LIC Jeevan Akshay is one the! Number of your choice, the same amount is paid to him/her for the LIC Corporation plan of LIC using! Premium term is one-time premium modes through LIC website without any service charges your!, LIC had a Jeevan Nidhi ; Pradhan Mantri Vaya Vandana Yojana ( PVVY ) pays annuity or to...

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