LIC Jeevan Akshay Policy: Invest once, get pension every month for lifetime, there is no limit for maximum investment

Life Insurance Corporation of India (LIC) discontinued its popular insurance policy LIC Jeevan Akshay Policy, but the company has resumed it only a few months ago. LIC Jeevan Akshay is a single premium non linked non participating and personal annuity plan. That is, in this insurance policy the customer needs to invest a lump sum only once. They then receive a lifetime pension.

There is no maximum investment limit in LIC Jeevan Akshay Policy. At the same time, the policy can be started by investing a minimum of one lakh rupees. In this policy, the investor receives a pension of Rs 12,000 per annum for a minimum investment of Rs 1 lakh. The more amount the investor invests, the higher the amount of pension they will receive.

Also Read: LIC Jeevan Shanti Review

LIC Jeevan Akshay policy can be taken from 35 years to 85 years of age. PwDs can also take advantage of this policy. LIC Jeevan Akshay has 10 options to get the pension amount. Annuity rates are guaranteed at the beginning of the policy and the annuity payer is paid throughout the life of the annuity recipient. Types of annual, half-yearly, quarterly and monthly annuities are available in the policy. This plan can be purchased both online and offline.

In this policy, the investor also gets loan facility. In this scheme, a joint life annuity can be taken between any two descendants, descendants of the same family (grandparents, parents, children, grandchildren), spouses or siblings. The loan facility will be available three months after the policy is issued or after the expiry of the free-look period (whichever is later).

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