LIC Jeevan Akshay Policy-one of the significant lump-sum payment plans, which has guaranteed regular pension post-retirement. It accepts all citizens between the ages of 30 and 85, and the pension plans have a tax benefit attached. Anyone seeking to plan their retirement much better should read the complete article.
Life Insurance Corporation of India, which has come to be recognized as the leading insurance company in India, works well under this company, and even middle class to lower-class citizens are earning very good returns through investments of this kind. You can choose LIC Jeevan Akshay Policy according to your convenience; for in this type, you only have to make free premium payments and avail yourself with the regular pension benefit. This not only pays back return for knowledge but also provides financial security and is the best in this.
Premium and Pension Options
Minimum investment for LIC Jeevan Akshay Policy starts from ₹ 1 lakh; there has been no upper limit defined for maximum investment. Various pension options are given in the scheme where an investor can avail a pension as per requirement on a monthly, quarterly, half-yearly, or yearly basis.
For example, by investing ₹ 1 lakh, one is entitled to pension benefits up to ₹ 12,000, annually. Under such a scheme, if an amount of about ₹ 40,72,000 is invested, a person would receive a monthly pension of ₹ 20,000.
Scheme Features
You can choose any one of LIC Jeevan Akshay Policy having 10 Additional Pension Options. Well, you can also open a personal or joint account just by this policy. After getting this policy, the facility of the loan is opened in three months in terms of a financial condition. You are also given the tax benefit under section 80C of the income tax for whatever money is invested in this scheme, although income tax will be included in the case of the pension received, as this too is included in income.
Who can invest
The eligible minimum age of an applicant to invest in this scheme is 30 years, while the limit of age goes up to a maximum of 85 years. This means that the entire benefit is provided to a person under this plan, if they want pension benefit for the rest of their lives.
Online application process
There is facility of applying for Jeevan Akshay policy without coming to branches of Life Insurance Corporation of India; you can apply online instead. Alternatively, you may visit a nearby branch and submit your relevant documents to the agent there. To read further about it, please visit the official website. Thanks for being in the article.
Disclaimer: The information contained in this document is intended for general public information only and is not intended to be nor should it be taken as a substitute for expert advice of any kind. Contact the expert for individual circumstances or unique information. This channel is not responsible for the accuracy of this information nor its results.