LIC Jeevan Akshay Policy: This is a non-linked policy i.e. it has nothing to do with the stock market. Talk about the features of this policy, the pension received through it is taxed under 80C of income tax.
LIC Jeevan Akshay Policy: It is considered safe to invest in insurance policy of LIC. LIC offers endowment, pension, term and life time plans to customers. The government-run company does not even worry about sinking money.
Though LIC has different policies but today we will talk about the ‘Jeevan Akshay’ policy. Through this, you can arrange pension per month. This can be done by making a lump sum investment in this policy of LIC. Jeevan Akshay is one of LIC’s most popular and best-selling policies.
It is a non-linked policy i.e. it has nothing to do with the stock market. Talk about the features of this policy, the pension received through it is taxed under 80C of income tax. Minimum one lakh rupees can be invested. There is no maximum limit.
Pension can be received on yearly, half-yearly, quarterly and monthly basis. Any two members of a family can take a joint annuity. People between 30 and 85 years of age can invest in it. And the minimum annual pension is fixed at Rs 12 thousand. The loan facility is also available through 3 months from the date of issue of the policy.
There are 10 different options for getting pension in this policy. You can choose the option ‘Annuity Payable for Life at a Uniform Rate’ (‘A’ immediately after taking a lifetime pension policy) to get an instant pension. On selecting this, pension starts every month immediately after investment.
Age: 39
Sum Assured: 4000000
Lump Sum Premium: 4072000
Pension:
Annual: 244800
Half Yearly: 120400
Quarterly: 59650
Monthly: 19767
According to the above example, if a person invests in this policy at the age of 39 and chooses the sum assured of 4000000, then he has to pay a total premium of Rs 4072000. After this, every month 19767 rupees will be received as pension. The policyholder will get this benefit as long as he survives.
