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LIC Pension Plan Jeevan Akshay - Lifetime pension for policyholder with 100% pension for Spouse

Under this option in Jeevan Akshay, pension will be provided to the policy holder from the time he purchases the policy till the end of their life. After the policy holder expires, equal amount (100 %) of the pension the policyholder received will be provided to their spouse till the end of the life of the policy holder's spouse. Nothing will be paid to anyone after the spouse of the policy holder expires. Below is the pension rates under this option for 1 Lakh deposit.


LIC Pension Plan Jeevan Akshay - Lifetime pension for policyholder with 50% pension for Spouse

Under this option in Jeevan Akshay, pension will be provided to the policy holder from the time he purchases the policy till the end of their life. After the policy holder expires, 50 % of the pension the policyholder received will be provided to their spouse till the end of the life of the policy holder's spouse. Below is the pension rates under this option for 1 Lakh deposit.


LIC Pension Plan Jeevan Akshay - Lifetime pension with annuity increasing at 3% annually

Under this increasing annuity option, the policyholder will receive a lifetime pension. But the amount of pension that he would receive is not a fixed one. The pension that he would receive will be increasing at a rate of 3% every year. So, 10 years down the line, the pension paid would be 30% higher compared to what would be given right now. After the policy holder expires, nothing would be paid to the nominee. Below is the sample pension rates that the policy holder would receive on the first year as annuity.


LIC pension plan with return of lumpsum on death

This is one of the best options available under the LIC pension plan in which, the policy holder will receive a continuous fixed amount of pension till the end of their life. After the policyholder expires, his nominee would receive the entire amount deposited as single premium. Below is the sample pension that the policy holder will receive for 1 Lakh deposit.



LIC Pension Plan - Pension guaranteed for a certain period

Under LIC Jeevan Akshay plan, we have an option where the policy holder / annuitant shall opt to receive guaranteed benefits for a few years either the policy holder is alive or not. Options of choosing 5 / 10 / 15 / 20 years as a guaranteed period are available. If a policy holder opts to choose a guaranteed period of say 10 yrs, annuity will be provided to the policy holder till he is alive even after the completion of that 10 yrs. But if the policy holder expires before the completion of this guaranteed period, the annuity will be provided to their nominee till the completion of this 10 yrs. Below is the sample annuity rates for a guaranteed period of 15 yrs per lakh sum assured.

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

LIC's single premium pension plan

LIC has 2 pension plans under its portfolio. One is a regular premium pension plan and the other is a single premium pension plan - Jeevan Akshay 6. This single premium pension plan Jeevan Akshay 6 has various types of annuity options that can be chosen by the annuitant. The premium needs to be deposited as a lumpsum. The annuitant can choose any of the available options to receive his/her annuity. No loan or surrender can be availed under this pension policy. This plan can also be bought online. Person of age between 30 years and 85 years old are eligible to purchase this policy.