Is LIC Jeevan Akshay a good policy?
Is LIC Jeevan Akshay a good policy?
Is LIC Jeevan Akshay VI Plan a good policy? Well, the LIC Jeevan Akshay VI Plan is surely a good policy for it comes from one of the most reputed insurance companies of India, LIC. Apart from its credibility, it offers several benefits such as uniform pension plans, lump sum payments, tax deductions, etc.
How much pension will I get Jeevan Akshay?
Illustrations
| Policy Details | Sum Assured: Rs. 5 lakhs Policy Purchase Year: 2017 Age: 60 years Pension Mode: Yearly By using a premium calculator, you can calculate the benefit details. |
|---|---|
| Pension Details | Pension Type: Yearly The Rate of Interest: 9.38% Pension Amount: Rs. 48, 903 |
Which is better Jeevan Akshay or Jeevan Shanti?
But the annuity rate is slightly higher in Jeevan Akshay. However, Jeevan Shanti has two more options over Jeevan Akshay for immediate annuity on joint life. For a person having taxable income, Jeevan Shanti is a better option as he/she can defer additional tax liability through the deferred annuity option.
What is the maximum annuity in LIC Jeevan Akshay 7?
Jeevan Akshay- VII (Table No. 857) is a single premium, non-linked and non-participating immediate annuity plan….Eligibility Criteria.
| Entry Age | 30 years to 85 years |
|---|---|
| Purchase price | Minimum: Rs.1 lakh Maximum: No-limit |
| Minimum annuity | Rs.12,000/year |
| Annuity payment modes | Yearly, half-yearly, quarterly and monthly |
How is Jeevan Akshay plan?
LIC Jeevan Akshay is a single premium payment plan, meaning that the premium has to be paid in lump sum at once. The annuity can be paid annually, biannually, quarterly or monthly depending on what the assured chooses. Listed below is an illustration of annuity payouts for Rs. 1 lakh for different options of the plan.
Which is best pension plan?
Best Pension Plans in India 2022
| Pension Plans | Entry Age | Annual Premium Amount |
|---|---|---|
| Max Life Online Savings Plan – | 50 years – 75 years | N/A |
| PNB Metlife Monthly Imcome Plan-10 pay | 18 years-55 years | Rs.23,280 |
| Reliance Immediate Annuity Plan | 20 years-80 years | N/A |
| SBI Life Saral Pension Plan | 18 years-60 years or 65 years | Rs.7,500 |
What is the best single premium pension plan?
Top Pension Plans in India 2021
| Pension Plans in India | Entry Age | Policy Term |
|---|---|---|
| Reliance Smart Pension Plan | 18-65 years | Single premium-10-30 yearsRegular & limited premium-15-30 years |
| SBI Life Saral Pension Plan | 18-65 years | Regular Premium-10-40 yearsSingle Premium-5-30 years |
How much pension will I get from LIC?
As per the details of this LIC Saral pension plan, modes of annuity available for the annuitant are monthly, quarterly and half-yearly. Hence, minimum monthly annuity available in this plan is ₹1,000, minimum quarterly annuity in this plan is ₹3,000 while minimum half-yearly annuity offered in this plan is ₹6,000.
What is the maximum rebate allowed for higher purchase price in Jeevan Akshay VII 857 )?
1) Minimum age of entry is 30 years, maximum age is 100 years. 2) Minimum purchase price is ₹1 lakh. There is no maximum limit for purchase price. 3) It is a single premium payment plan.
How do I get a 50000 pension per month?
Pension up to Rs 50,000 If you invest in NPS, then you can get pension of up to Rs 50,000 every month. For example, if you are currently 30 years old and if you invest Rs 10,000 in NPS, then till retirement i.e. at the age of 60 years, you will have a lump sum amount of more than Rs 1 crore.
What is LIC Jeevan Akshay plan?
LIC Jeevan Akshay is an Immediate Annuity plan offered by Indian Life insurance and investment company Life Insurance Corporation of India (LIC). It is a single premium policy and has to be purchased by paying a lumpsum amount at once.
What is Jeevan Akshay- VII annuity?
Jeevan Akshay- VII (Table No. 857) is a single premium, non-linked and non-participating immediate annuity plan. It pays annuity or pension to the policyholder on annuity age. The annuity plan also allows joint life cover. The plan provides annuity payments of a stated amount throughout the lifetime of the annuitant.
Is medical examination required to invest in Jeevan Akshay- VII?
No Medical Examination: There is no need for a medical examination to invest in Jeevan Akshay- VII. Amount of annuity payable at yearly intervals, which can be purchased for Rs.10,00,000 under different options for Immediate Annuity is as under:
Can I buy an annuity from LIC If I have pension plan?
Our take – If you have already purchased a Pension Plan (also called Deferred Annuity plan) from LIC you will have to buy an Annuity from LIC itself. As per the current regulations, at Vesting Age you can withdraw a maximum of 1/3 of the accumulated amount and the rest has to be used to purchase an Annuity from the same insurance company.
