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  • About Policy

Features of LIC Jeevan Akshay :


• This is an immediate Pension plan bought with Single premium
• Pension can be opted for Monthly, Quarterly, Halfyearly of Yearly Intervals
• There is an incentive for purchase of Rs 2.5 lakhs of annuity or more

LIC Jeevan Akshay Eligibility Conditions :


Minimum

Maximum

Sum Assured (in Rs.) 100,000 No Limit
Premium Payment Term(in years) Single
Entry Age of Policy Holder 30 85
Annuity Payment modes Yearly, Half-yearly, Quarterly and Monthly


Benefits of LIC Jeevan Akshay :


Survival Benefit: Annuity / Pension will be paid based on the pension option choosen.

Death Benefit – The death return depends completely on the type of Annuity chosen.

Income Tax Benefit – Available under Section 80 C for premiums paid. Pension received is taxable.
Loan on Policy - Not Available
Housing Loan Surity - Not Available


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LIC Jeevan Akshay VI

LIC Jeevan Akshay VI (Table 189) is an immediate annuity plan that can be bought by paying a lumpsum as Single Premium. Pension will start immediately after buying the policy. There are 6 pension options available to choose. But once choosen, it cant be changed.

The below 6 pension options are available:

• Annuity for Life- where pension is paid till the life assured is alive and nothing is payable on death. Click here to know more
• Annuity Guaranteed for Certain Periods- where pension is definitely paid for 5/10/15 or 20 years as chosen whether the life assured is alive or not and is paid as long as annuitant is alive. Click here to know more
• Annuity with Return of Purchase Price on Death- pension is paid till the life assured is alive and the remaining amount of the corpus is paid to the nominee as death benefit. Click here to know more
• Increasing Annuity- pension is paid till the life assured is alive at an increasing rate of 3% p.a. Click here to know more
• Joint Life Last Survivor Annuity 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant. Click here to know more
• Joint Life Last Survivor Annuity 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant. Click here to know more