LIC Immediate Annuity Plan Calculator

An immediate annuity is when your pension starts flowing in as soon as you have paid the purchase price. LIC of India offers two immediate annuity pension plans viz. LIC’s Saral Pension and LIC’s Jeevan Akshay-VII. The LIC immediate annuity plan calculator offers insight into the pension amount you are likely to receive if you invest in either of these plans. 

Read more
LIC Plans-
Buy LIC policy online hassle free
Tax saving under Sec 80C & 10(10D)^
Guaranteed maturity with life cover for securing family's future
Sovereign guarantee as per Sec 37 of LIC Act
LIC life insurance
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
Now Available on Policybazaar
Grow wealth through
100% Guaranteed Returns with LIC
+91
Secure
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on ''View Plans'' you, agreed to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

What Is the LIC Immediate Annuity Plan Calculator?

It is an online tool that will help you calculate the pension amount yourself before actually investing your money in the plan.

If you are planning your retirement, you probably have an idea of how much income you would need after retirement to sustain your lifestyle. The LIC Immediate Annuity Plan Calculator allows you to see how much you would have to invest to get to that desired pension amount.

How Does the LIC Immediate Annuity Plan Calculator Work?

The LIC immediate annuity plan calculator uses the following factors to give you accurate estimates of the pension amount -

Factors Considered by the LIC Immediate Annuity Plan Calculator

  • Purchase price

  • Current age

  • Type of annuity - annuity for life, joint life or single life annuity, increasing annuity, etc.

  • Expected annuity amount

  • Frequency of pension - monthly, quarterly, half-yearly, or yearly

To be able to use the LIC Immediate Annuity Plan Calculator, you should be aware of the eligibility conditions of both the LIC annuity plans.

Eligibility Criteria of LIC Saral Pension & LIC Jeevan Akshay-VII

Criteria LIC Saral Pension LIC Jeevan Akshay-VII
Minimum Age at Entry 40 years 30 years
Maximum Age at Entry 80 years 85 to 100 years
Minimum Purchase Price Depends on a minimum annuity Rs. 1 Lakh
Maximum Purchase Price No limit No limit
Minimum Annuity For Monthly: Rs 1000
For Quarterly: Rs. 3000
For Half-yearly: Rs. 6000
For Annually: Rs. 12000
For Monthly: Rs 1000
For Quarterly: Rs. 3000
For Half-yearly: Rs. 6000
For Annually: Rs. 12000

Sample Calculation Using the LIC Immediate Annuity Plan Calculator For :

  1. LIC Saral Pension

    For this plan, let’s take the following sample -

    • Purchase price - Rs.10 Lakhs

    • Age at entry - 60 years

    • Frequency of annuity - Annually

    • Type of annuity - Lifetime annuity

    The yearly annuity payouts come to be Rs.56,450. A key feature of the LIC Saral Pension is that it returns 100% of the purchase price to you.

  2. LIC Jeevan Akshay-VII

    Let’s assume the following to use this LIC annuity calculator -

    • Purchase price - Rs.10 Lakhs

    • Age at entry - 45 years

    • Frequency of annuity - Annually

    • Type of annuity - Lifetime annuity

    Based on the above fields, the yearly annuity amount comes to be equal to Rs.67,950. You will get this amount every year till your death.


What Is The Benefit of Using the LIC Immediate Annuity Plan Calculator?

It will help you understand if your current savings is enough to start receiving the annuities you will need when you retire. With immediate annuities, you start receiving a pension right after the investment period. This leaves very little room to accumulate returns on your investment. With the help of this digital tool, you will at least have a clear estimate of the pension amount so that you can adjust your financial plan accordingly.

FAQ's

  • Q: Which LIC plans offer immediate annuity?

    Ans: LIC’s Saral Pension and LIC’s Jeevan Akshay-VII offer immediate annuity payouts.
  • Q: What are the best annuity plans in India?

    Ans: The best annuity plan depends on the needs of each user, the current age and retirement age, current savings, amount of investment, type of annuity, etc.
  • Q: What are the pension plans offered by LIC?

    Ans:

    LIC pension plans include the following -

    • LIC’s Saral Pension
    • LIC’s Jeevan Akshay-VII
    • LIC's New Jeevan Shanti
  • Q: Which LIC plans offer deferred annuity?

    Ans: LIC's New Jeevan Shanti is a deferred annuity type.
  • Q: What is the maximum annuity possible with LIC’s Jeevan Akshay-VII?

    Ans: There is no limit. You can earn as much annuity as possible based on the purchase price. LIC only has a cap on the minimum annuity amount.

*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:- http://bit.ly/3J20bXZ
++Returns are 10 years returns of Nifty 100 Index benchmark

LIC of India
LIC Plans
LIC Jeevan Utsav
LIC Jeevan Kiran
LIC Dhan Vriddhi
LIC Monthly Investment Plans
LIC Jeevan Azad
LIC 1 Crore Endowment Plans
LIC Jeevan Labh 1 Crore
LIC Crorepati Plan
LIC Dhan Varsha - Plan No. 866
LIC Pension Plus Plan
LIC New Jeevan Shanti
LIC Bima Ratna
LIC Group Plans
LIC Fixed Deposit Monthly Income Plan
LIC Savings Plans
LIC’s New Jeevan Anand
LIC New Jeevan Anand Plan 915
LIC's Saral Jeevan Bima
LIC's Dhan Rekha
LIC Jeevan Labh 836
LIC Jeevan Jyoti Bima Yojana
LIC Child Plans Single Premium
LIC Child Plan Fixed Deposit
LIC Jeevan Akshay VII
LIC Yearly Plan
LIC Bima Jyoti (Plan 860)
LIC’s New Bima Bachat Plan 916
LIC Bachat Plus Plan 861
LIC Policy for Girl Child in India
LIC Samriddhi Plus
LIC New Janaraksha Plan
LIC Nivesh Plus
LIC Policy for Women 2024
LIC Plans for 15 years
LIC Jeevan Shree
LIC Jeevan Chhaya
LIC Jeevan Vriddhi
LIC Jeevan Saathi
LIC Jeevan Rekha
LIC Jeevan Pramukh
LIC Jeevan Dhara
LIC Money Plus
LIC Micro Bachat Policy
LIC Endowment Plus Plan
LIC Endowment Assurance Policy
LIC Bhagya Lakshmi Plan
LIC Bima Diamond
LIC Anmol Jeevan
LIC Bima Shree (Plan No. 948)
LIC Jeevan Saathi Plus
LIC Jeevan Shiromani Plan
LIC Annuity Plans
LIC Jeevan Akshay VII Plan
LIC SIIP Plan (Plan no. 852) 2024
LIC Jeevan Umang Plan
LIC Jeevan Shanti Plan
LIC Online Premium Payment
LIC Jeevan Labh Policy-936
LIC Money Plus Plan
LIC Komal Jeevan Plan
LIC Jeevan Tarang Plan
LIC Bima Bachat Plan
LIC’s New Money Back Plan-25 years
LIC Money Back Plan 20 years
LIC Limited Premium Endowment Plan
LIC Jeevan Rakshak Plan
LIC New Jeevan Anand (Previously LIC Plan 149)
LIC New Endowment Plan
LIC Varishtha Pension Bima Yojana
LIC Investment Plans
LIC Pension Plans
Show More Plans
LIC Calculator
  • One time
  • Monthly
/ Year
Sensex has given 10% return from 2010 - 2020
You invest
You get
View plans

LIC of India articles

Recent Articles
Popular Articles
LIC Amritbaal Premium Calculator

29 Mar 2024

LIC Amritbaal Premium and Maturity Calculator is an online tool
Read more
LIC New Endowment Plan Maturity and Premium Calculator

04 Mar 2024

LIC's New Endowment Plan premium and maturity calculator allows
Read more
LIC Amritbaal

22 Feb 2024

LIC Amritbaal is a newly launched plan specially designed to
Read more
Benefits of LIC Jeevan Amar

13 Feb 2024

LIC Jeevan Amar is a term insurance policy offered by the LIC of
Read more
LIC Jeevan Azad Calculator

12 Feb 2024

LIC Jeevan Azad Calculator is an online tool that allows
Read more
10 Best LIC Plans to Invest in 2024
Since 1956, LIC of India has offered several policies that combine insurance protection with wealth accumulation
Read more
How to Check the Maturity Amount of LIC Policies?
The LIC maturity value is the amount payable to the policyholder upon the completion of the policy term. LIC
Read more
LIC Online Premium Payment
The LIC Online Payment by Policybazaar enables policyholders to pay their insurance premiums online at their
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL