Jeevan Akshay

LIC's LIC's Jeevan Akshay VI is an Immediate Annuity Plan that provides annuity payouts immediately after the premium payment for a financially secured life after retirement.

Minimum Purchase Price : Rs.100,000 or Rs.150,000 for online mode
Maximum Purchase Price : No Limit (Multiple of Rs. 10,000/- only)
Minimum Policy Term : 5 years
Maximum Policy Term : 25 years
Minimum Entry Age : 18 years (completed)
Maximum Entry Age :55 years (nearer birthday)
Maximum Cover Ceasing Age : 65 years
Mode of Premium Payment : Yearly, half-yearly

LIC's Jeevan Akshay Key Features

The annuity options can be chosen for a single life (policyholder) or for joint life (policyholder and spouse).

No medical check-ups required for Lic's Jeevan Akshay plan.

The annuity options are:

Life Annuity at a uniform rate

Lifetime Annuity with Return of Purchase Price

Life Annuity guaranteed for 5/10/15 or 20 years and thereafter payable for life

Life Annuity increasing at a simple rate of 3% p.a.

Annuity for life with 50% annuity to spouse after the annuitant's death

Annuity for life with 100% annuity to spouse after the annuitant's death

Annuity for life with 100% annuity for spouse after the annuitant's death and also Return of Purchase Price after death of the last survivor

LIC's Jeevan Akshay Benefit Details

Annuity payouts will be paid as per the frequency chosen immediately after the premium paid.

Income Tax Benefit : Premium paid under this plan is eligible for TAX rebate under section 80CCC.

Life Insurance Corporation of India

Podanur Branch , Coimabatore.