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:
    ModeMinimum Annuity
    MonthlyRs. 500 per month
    QuarterlyRs. 1000 per quarter
    Half-yearlyRs. 2000 per half year
    YearlyRs. 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.
Related Training Material  How Much Insurance you need

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 birthdayYearly annuity amount under option
( i )( ii ) (15 years certain)( iii )( iv )( v )( vi )
40751074406930561073107120
45777076606960589075007240
50814079507000628077607420
55865083307050681081307670
60935087907110753086408030
651041093307180859094008570
70120809830726010220105609370
7514510102207360125901224010590

 

This is a best plan of LIC of India

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