Jeevan Akshay VI

Jeevan Akshay VI Table No. 189 Summary:

Jeevan Akshay VI plan no.189 is an Immediate Pension (Annuity) plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant (Policy holder). Various options are available for the type and mode of payment of annuities.

Options Available:
The following options are available under this pension plan.

Type of Annuity:

  1. Pension (Annuity) payable for life at a uniform rate.
  2. Pension (Annuity) payable for 5, 10, 15 or 20 years certain and thereafter as long as you are alive.
  3. Pension (Annuity) for life with return of purchase price on death of the annuitant (Policyholder).
  4. Pension (Annuity) payable for life increasing at a simple rate of 3% p.a.
  5. Pension (Annuity) for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
  6. Pension (Annuity) for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.

You may choose any one option from above list. However once chosen, the option cannot be altered.

Mode:

Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals. You may opt any mode of payment of Annuity.

Special Features:

  1. Premium is to be paid in a lump sum.
  2. Minimum purchase price : Rs.50,000/= or such amount which may secure a minimum annuity as under:
    Mode Minimum Annuity
    Monthly Rs. 500 per month
    Quarterly Rs. 1000 per quarter
    Half-yearly Rs. 2000 per half year
    Yearly Rs. 3000 per year
  3. No medical examination is required under the plan.
  4. No maximum limits for purchase price, annuity etc.
  5. Minimum age at entry 40 years last birthday and Maximum age at entry 79 years last birthday.
  6. Age proof necessary.
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Incentives for high purchase price:
If your purchase price is Rs. 1.50 lakh or more, you will receive higher amount of annuity due to available incentives.

Annuity Rate:
Amount of annuity payable at yearly intervals which can be purchased for Rs. 1 lakh under different options is as under:

Age last birthday Yearly annuity amount under option
( i ) ( ii ) (15 years certain) ( iii ) ( iv ) ( v ) ( vi )
40 7510 7440 6930 5610 7310 7120
45 7770 7660 6960 5890 7500 7240
50 8140 7950 7000 6280 7760 7420
55 8650 8330 7050 6810 8130 7670
60 9350 8790 7110 7530 8640 8030
65 10410 9330 7180 8590 9400 8570
70 12080 9830 7260 10220 10560 9370
75 14510 10220 7360 12590 12240 10590

 

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