LIC Jeevan Akshay Plan
Posted on by Thomas Bloggs
LIC Jeevan Akshay VI Policy is a Single Premium Immediate Annuity Plan
How it works – You pay a Single Premium (also called the 'Purchase Price') to purchase an Annuity. LIC will then pay you regular amounts for the rest of your life. You could receive this regular payouts monthly, quarterly, half-yearly or annually. This regular payout amount is called an Annuity. You have 7 options to decide on the type and amount of annuity you want to receive.
Key Features of LIC Jeevan Akshay VI Plan
- Premium is paid in a lump-sum
- Minimum purchase price or premium paid is Rs 100,000 for channels other than online and Rs 150,000 for plans purchased online
- Annuity may be paid monthly, quarterly, half yearly or yearly intervals depending on how you choose initially
- Different annuity payment options may either be chosen for a single policyholder or jointly for policyholder and spouse
- Annuity will be calculated at higher rates for plan purchased online and lump sum premium (or purchase price) of Rs 250,000 or higher
- No medical examination is required
- No upper limit for purchase price or annuity under the plan
