LIC Jeevan Akshay

LIC Jeevan Akshay is a one-time investment pension and single premium plan. It is a life annuity (immediate) policy where you can pay a lump sum amount and will start getting annuity instantly at any selected interval such as monthly, quarterly, half-yearly, or yearly. The plan is only available for people above 30 years and can be purchased at any age after that. You will receive the lifetime annuity at a fixed rate of interest.

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Best Investment Options
  • Save upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

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invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
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Key Features of LIC Jeevan Akshay Plan 

The key features of the LIC Jeevan Akshay plan are: 

  • It is a one-time investment pension plan
  • The plan is available for people above 30 years of age 
  • Life annuity will be provided after 30 years of age at a fixed ROI 
  • The plan offers two annuity options – An immediate annuity plan and a deferred annuity plan
  • Increment in an annuity is offered at a rate of 3 percent per annum 
  • In case of unfortunate demise of the policyholder, payment of 50 percent and 100 percent is made to the spouse and ROP i.e., returns of purchase. 
  • The minimum purchase price is Rs.1,00,000 and Rs.1,50,000 for online sales. 

Eligibility of LIC Jeevan Akshay

Entry Age 

30 years to 65 years 

Annuity Options 

Immediate annuity plan 

Deferred annuity plan

Policy Term 

Annuity for life and 5,10,15,20 years and subsequently 

Disclaimer: All savings are provided by the insurer as IRDAI approved insurance plan. Standard T&C applies. 

Benefits 

  1. Flexibility

    The plan offers flexibility to choose from several available options at your disposal for securing the future of your loved ones. 

  2. Rate of Interest 

    The interest rates are almost equal to the interest rate of fixed deposits in the bank. The major difference is that LIC freezes ROI at the time of entering into the policy for the complete term. The interest rates might vary from time to time in banks. 

  3. Annuity Options

    Immediate Annuity Plan: This annuity plan comes with the guaranteed tenure of 5,10, 15, and 20 years and, for life subsequently, lifetime annuity with the reimbursement of buying value, lifetime annuity with a yearly increment of 3 percent, joint annuity option with benefit to co-insured and many more. 

    Deferred Annuity Plan: In this, deferred annuity plans also come with the option of joint and single life. You are allowed to add the name of the following members to the policy: 

    • Spouse, 
    • Children, 
    • Grandchildren, 
    • Grandparents, or other family members. 
    • A differently-abled individual in the family can also be added as a nominee under this plan. 

    The amount and tenure of an annuity can also be decided as per your requirement, ranging between Rs.1000 for a month to Rs.12,000 annually.

  4. Liquidity Options 

    LIC Jeevan Akshay's plan comes with a liquidity option. So, one can easily avail surrender value or loan if he/she wants to. 

Why LIC Jeevan Akshay is a Good Investment option for NRIs? 

The Rate of Interest (ROI) guaranteed by LIC Jeevan Akshay is not available neither in any foreign country nor in any of the other Indian institutes. All the investments made in LIC come with a supreme guarantee from the Indian Government and are 100 percent safe and secure. 

If you wish to purchase the right pension plan for securing yourself and your family, LIC Jeevan Akshay is the one-stop solution for you.

Written By: PolicyBazaar - Updated: 29 September 2021

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