LIC Jeevan Akshay- VII Calculator

LIC Jeevan Akshay- VII plan has proven to be a game-changer for securing investment plans. Jeevan Akshay- VII is an annuity plan where people can choose any plan among the different options provided. There are ten available options of plan in Jeevan Akshay- VII with different payment options, guarantee period, and termination plan. It is an immediate annuity plan where the policyholder can purchase the plan by paying a lump sum amount. Once he acquires the plan, he becomes eligible for the benefits of the plan. The immediate pension amount would be based on which plan option the policyholder has chosen.

Annuity Options in LIC Jeevan Akshay- VII

LIC Jeevan Akshay- VII comes with ten available options. Customers can choose any one option as per their convenience and requirements. It can be chosen as a single or joint annuity with all the different options available. The annuity payment mode is also available in four different options, monthly, quarterly, half-yearly, and yearly.

The different annuity options available are mentioned in the table below:

What is LIC Jeevan Akshay- VII Calculator?

The LIC Jeevan Akshay- VII calculator is used to calculate the pension amount a policyholder may get on investing a certain amount in the plan. It is a beneficial and easily accessible calculator that will provide all the details based on the option plans a person chooses. Since the LIC Jeevan Akshay- VII comes with many options, it becomes essential to know the exact amount and correct data for easing the investment process by using this calculator.

How to Use LIC Jeevan Akshay Calculator?

The calculating process is as simple as using any other mathematical calculator. One must fill in some data related to the policy, and the pension amount will easily be calculated. Here is the list of data required for calculating the pension amount:

• Pension type: It may be single or joint

• Pension option: Choose any one among the given 10 options

• Primary Holder’s age: Has to be 30 years or more  

• Secondary Holder’s age: In case of a joint plan option

• Purchase Amount: Single, one-time premium to be invested

What are the Benefits of using this Calculator?

Calculating LIC Jeevan Akshay- VII pension amount depends on many factors and data. Hence, using a calculator is very beneficial to make the process straightforward. In the case of calculating from a manual or hard copy premium chart, it consumes a lot of time; hence the calculator is beneficial in terms of saving time. Many factors like pension type, pension option, age, and purchase amount are required to calculate the pension amount, which the calculator can easily do. By all means, the calculator always gives an error-free result since many factors are to be considered before calculating the final pension amount.

Here is a brief list of the benefits of using a calculator:

• Easy and undemanding

• Time-saving

• User friendly

• Avoids the hurdle of calculation from a manual chart

• Promotes accuracy

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