LIC Jeevan Akshay Policy Details| Features & Benefits | Review
LIC Jeevan Akshay Plan is Best Pension
policy in LIC in which any one can start Immeaidiate Pension. For this you have
to pay lump sum amount to LIC and start pension for life.
Features Benefits of LIC Jeevan
Akshay-VI
There are Seven options with this Policy.
- Pension
for Whole Life - Pension will be paid till annuitant Alive.
- Pension
for Period - Pensioner has option 5, 10, 15 or 20 years
for choose pension, thereafter as long as pensioner is alive.
- Pension
with return of Annuity Price - Pension will continue
till annuitant is Alive.
- Annuity
Increase - Annuity will increase 3% per year till
Annuitant is Alive.
- Joint
Life Annuity Option with 50% to Spouse- in
this option Annuitant will get whole life Pension but after his death
spouse will get only 50% of Annuitant Pension.
- Joint
Life Annuity option with 100% to Spouse- in
this option Spouse will get 100% pension till alive.
- Joint
Life Annuity option with 100% to Spouse with Return of Purchase Price- in
this option, Spouse will get 100% Pension but after her death Purchase
price return to Last Survivor.
Death Benefits from LIC Jeevan Akshay VI
Plan
Death Benefit -
In case Death of Pensioner Following Benefits available for Nominee.
- Pension
for Whole Life- After death of Annuitant Pension Stop.
Nominee will get Nothing.
- Pension
for Period (a) Death during Purchase Period, Nominee will
get annuity till purchase period. (b) Death after Purchase Price Annuity
Stop, Nnominee will not get Anything.
- Pension
with return of Annuity Price After Death of
Annuitant, purchase price of Annuity return to Nominee.
- Annuity
Increase - After death of annuitant, Annuity
stop, Nominee will not get Anything.
- Joint
Life Annuity Option with 50% to Spouse- in
case, Death of Annuitant, 50% pension of Annuitant will provide to Spouse
till Whole Life.
- Joint
Life Annuity option with 100% to Spouse- in
case, Death of Annuitant, 100% Pension of Annuitant will Provide to Spouse
till Whole Life.
- Joint
Life Annuity option with 100% to Spouse with Return of Purchase Price- in
case Death of Annuitant, Spouse will get Pension and after Spouse Death,
Annuity Amount Returned to Last Survivor.
Maturity Benefit:
Maturity Benefits Option not available with LIC Jeevan Akshay-VI.
Income tax Benefit :Income Tax Benefits available under section 80C on Paid
Premium.
Pension Mode of LIC Jeevan Akshay-VI
When you purchase annuity , you have option to select
annuity mode , which will be Monthly, Quarterly, Half yearly & Yearly.
Eligibility conditions and other
restrictions in LIC Jeevan Akshay VI Plan
Age: Age should be
Minimum 30 years and Maximum 85 years. Age Proof Required for this Policy.
Medical: No
Medical check-up required for this Policy.
Annuity Limit:No
any annuity limit for LIC Jeevan Akashay-VI, But minimum will be 1 Lakh .
Loan Option with LIC Jeevan Akshay-VI: No any Loan Option available with Policy.
Surrender Value:
No, any surrender Value with this Policy.
Cooling Off Period: You can cancel this policy within 15 days, after receiving of
bond if not satisfied with Terms. LIC will charge only stamp duty & return
all amount and cancel this policy.
When we Receive First Pension in Jeevan
Akshay-VI ?
You can Receive Pension from Next Month, Quarterly,
Half-Yearly or Yearly.Its depend on mode you Select.
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