LIC Pension Plan – Jeevan Akshay-VI Policy


LIC Pension Plan – Jeevan Akshay-VI Policy

LIC Pension Plan – Jeevan Akshay-VI Policy – It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant. Various options are available for the type and mode of payment of annuities.

Options Available:
The following options are available under the plan

Type of Annuity:
Annuity payable for life at a uniform rate.
Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
Annuity for life with return of purchase price on death of the annuitant.
Annuity payable for life increasing at a simple rate of 3% p.a.
Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
You may choose any one. Once chosen, the option cannot be altered.

Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals. You may opt any mode of payment of Annuity.

Salient features:
Premium is to be paid in a lump sum.
Minimum purchase price : Rs.50,000/= or such amount which may secure a minimum annuity as under:

Mode Minimum Annuity
Monthly Rs. 500 per month
Quarterly Rs. 1000 per quarter
Half-yearly Rs. 2000 per half year
Yearly Rs. 3000 per year

No medical examination is required under the plan.
No maximum limits for purchase price, annuity etc.
Minimum age at entry 40 years last birthday and Maximum age at entry 79 years last birthday.
Age proof necessary.

7 Comments on "LIC Pension Plan – Jeevan Akshay-VI Policy"

  1. GAJENDER SINGH | August 20, 2011 at 6:11 am | Reply

    Sir, I m 58 years old and near about retirement. I want to invest in pension plan so that I survive independently. plz suggest me what LIC plan suit me according my age.

  2. A vishalakshi bhandary | April 19, 2011 at 12:27 pm | Reply

    Respected sir/madam,

    I am A Vishalakshi bhandary who has taken a policy under ‘ LIC of India- jeevan akshaya policy’. I wanted to inquire as to what the correct e-mail address to communicate a change in mailing address is. I kindly request you to send me the required e-mail and how to proceed. Kindly oblige,
    yours sincerely,
    A vishalakshi bhandary

  3. Ila Bhattacharya | April 18, 2011 at 4:48 pm | Reply

    My question: Male , age 51, wants to invest 1 crore on New Jeevan Akshay VI plan. While getting approx @Rs.59,000 per month, will any tax be deducted from the monthly pension Rs.59,000

    • Dear sir,

      First, this is an annuity policy, so don’t expect any returns as this policy does not have any surrender value.

      You cannot take a loan against this policy

      Premium is to be paid in lumpsum.

      Pension amount received is TAXABLE.

      Annuity rates are not that attractive – they are not linked to inflation. So it is possible that you may find the income from this pension comparatively less for meeting the living expenses, the longer you live.

      Lic new plan launched
      Samridhi plus with guarenteed returns. please contact U will get best services without going to any branch.


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