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LIC Pension Plan - fixed Pension throughout life

In the first pension payout option of the LIC's single premium pension plan Jeevan Akshay, a fixed amount of pension will be paid to the policyholder throughout his lifetime. Post the expiry of the policyholder, nothing will be paid to their nominee. Once the policy has been bought and the policyholder starts receiving the pension, this policy cannot be surrendered. Also no Loan can be availed under this policy option. Below is the sample pension that the policy holder will receive for 1 Lakh lumpsum deposit



Comments (4) -

  • Ram

    6/15/2016 10:37:23 PM | Reply

    What will my nominee receive after I expire ?

  • Rajasekaran

    6/16/2016 10:00:24 PM | Reply

    Hi,
    In this pension option, pension will be paid only to the policy holder till they survive and the nominee will not receive anything.

  • Sudharshan

    6/20/2016 10:21:30 PM | Reply

    There are many options available in this Jeevan Akshay plan and i am totally confused with what will be the best option for me. I am planning to invest 20 lakhs in any of the options of Jeevan Akshay and I would like to receive life long pension so that i can cover my expenses.

    • Prashanth

      6/24/2016 11:29:04 PM | Reply

      As for my experience, among the available annuity options available in Jeevan Akshay, option - 3, Getting pension throughout the life and the return of purchase price after the policyholder's demise will be the best option. You shall look at its features in the link :
      policytray.com/.../lic-pension-with-return-of-lumpsum-on-death

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