Jeevan Akshay Policy
LIC has named this plan as Jeevan Akshay, which gives you good returns with just one investment. Returns will keep coming till the death of the beneficiary and a fixed amount will be received every month as pension. Once you invest in Jeevan Akshay Yojana, you will start getting monthly or quarterly or annual pension after the stipulated period. Actually LIC will also get interest from your money so that you are given pension.
who can apply
If you are a person in the age group of 30 to 85 years then you can buy Jeevan Akshay policy. In this scheme, you can easily apply both online and offline. The minimum investment amount in the plan is Rs 1 lakh as single premium. That is, you have to invest at least 1 lakh rupees.
Joint investors can also invest
The good thing is that joint investors can also invest in Jeevan Akshay policy. However, each investor has to invest at least Rs 1 lakh individually. Once you have invested a specified amount, sit back, as you will soon start getting your monthly pension. The more you invest, the more pension you will get.
10 types of options
More than 10 available annuity options are provided in LIC Jeevan Akshay policy. The policyholder gets a guaranteed annuity rate at the very beginning of taking the policy. The investment returns vary slightly depending on the option you choose.
How much pension on how much investment
In this example we are considering that an investor has deposited Rs 9,16,200 in one go in Jeevan Akshay policy. Roughly speaking, the investment is around Rs 9 lakh. Investors will get Rs 6,859 per month as return or pension from their investments. Similarly, they will get Rs 86,265 annually or Rs 42,008 on half yearly basis or Rs 20,745 on quarterly basis. That is, if you want, you can take a pension of Rs 6,859 every month or Rs 86,265 annually or Rs 42,008 on half-yearly basis or Rs 20,745 on quarterly basis.