LIC 1 Crore Pension Plan

LIC 1 Crore Pension Plans allow you to safeguard your post-retirement life and allow you to live independently. These pension plans are custom-made to meet the needs of senior citizens who are looking for a secure way to guard the golden years of their lives.

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What is the LIC 1 Crore Pension Plan?

1 Crore Pension Plans offered by the Life Insurance Corporation of India is a type of investment plan that allows the policyholder to accumulate a part of their savings for a long tenure to have a secured financial future. Not only It helps in dealing with post-retirement uncertainties but also ensures a steady flow of income after retirement.

Best LIC 1 Crore Pension Plans

LIC Pension plans are designed to offer higher coverage to the policyholder so that they can continue living their current lifestyle without worrying about their day-to-day expenses. Take a look at the 1 crore pension plans offered by LIC:

  1. LIC’s Jeevan Akshay- VII

    LIC Jeevan Akshay-VII is an Immediate Annuity plan in which the policyholder has the option to choose a type of annuity from 10 available options. The plan is available online as well as offline. 

    Eligibility Criteria of Plan

    Parameters Details
    Entry Age 30-85 years Except for option F, wherein the maximum entry age is 100 years
    Minimum Purchase Price Rs. 1 Lakh, subject to minimum annuity
    Maximum Purchase Price No Limit
    Minimum Annuity Monthly: Rs. 1,000 Quarterly: Rs. 3,000 Half-yearly: Rs. 6,000brAnnually: Rs. 12,000
  2. LIC's New Jeevan Shanti

    LIC New Jeevan Shanti is a single premium plan where the policyholder can choose Joint Life and Single life Deferred annuity. Along with this, the plan comes with guaranteed annuity rates at the inception of the policy.

    Eligibility Criteria of LIC New Jeevan Shanti

    Parameters Details
    Entry Age 30-79 years
    Vesting Age 31-80 years
    Minimum Purchase Price Rs. 1 Lakh, subject to minimum annuity
    Maximum Purchase Price No Limit
    Minimum Annuity Monthly: Rs. 1,000 Quarterly: Rs. 3,000 Half-yearly: Rs. 6,000 Annually: Rs. 12,000
  3. LIC’s Saral Pension Yojna

    LIC Saral pension Yojna is a standard Immediate Annuity plan that offers immediate annuity and in case the policyholder dies, the plan pays 100% of the Purchase Price to the nominee.

    Eligibility Criteria of LIC Saral Pension Yojna

    Parameters Details
    Entry Age 40-80 years
    Minimum Purchase Price Rs. 1 Lakh, subject to minimum annuity
    Maximum Purchase Price No Limit
    Minimum Annuity Monthly: Rs. 1,000 Quarterly: Rs. 3,000 Half-yearly: Rs. 6,000 Annually: Rs. 12,000

Why Should You Buy 1 Crore Pension Plans?

A pension plan is a long-term investment where you invest regularly to build your retirement corpus. Below mentioned are some of the reasons why you should start investing in 1 crore Pension plans:

  • Financial Independence Post-Retirement

    Achieving financial dependence in your port-retirement days is very important. With a LIC 1 crore pension plan, you can assure to live the golden years of your life stress-free without compromising on your needs.

  • Instill a Savings Habit

    By investing regularly in LIC Pension plans, one can inoculate a habit of disciplined savings. 

  • Leave a Legacy Behind

    Having a large financial corpus ensures that you leave something for your family which can help them financially in your absence. 

  • Fulfilling your unfulfilled Desires

    With a huge retirement corpus of Rs.1 Crore, you can fulfill your unfulfilled dreams such as buying a big house, going on a world tour, buying a brand new SUV, etc, that you ignored while fulfilling your duties as a son/daughter, husband/wife, or father/mother.

  • Tax Benefits

    Investments up to Rs 1.5 lakhs in retirement plans are eligible for tax deduction under section 80CCC.



With LIC 1 Crore Pension plans, you need to invest a part of your income towards creating a retirement corpus which in turn will be accumulated to create a financial corpus. The funds accumulated will ensure that you live stress-free after your retirement and plan to do everything you always wanted to do.


  • Q: Can I surrender my LIC Jeevan Akshay VII pension plan?

    Ans: Yes, one can surrender their LIC Jeevan Akshay VII pension plan only under the annuity option J & option F
  • Q: Can I avail loan under LIC 1 Crore Pension Plans?

    Ans: Yes, to meet financial emergencies, one can avail loans under LIC Pension plans.
  • Q: Will I be able to change the nominee under LIC 1 Crore Pension Plans?

    Ans: Yes, a policyholder can change the nominee anytime during the policy tenure.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-
++Returns are 10 years returns of Nifty 100 Index benchmark

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