Just Give An Installment In This Policy Of LIC, You Can Get 11 Thousand Rupees Pension, Lifetime Benefits

Investing in Life Insurance Corporation of India (LIC) is considered quite beneficial. If you are planning to invest without risk, then you can invest in LIC’s ‘Jeevan Akshay’ policy. This is the annuity plan of LIC.

This policy provides for pension benefits after a lump sum investment. This is a very popular policy of LIC. In fact, after investing in it, the policyholder gets immediate pension benefits. If you want to arrange a pension for yourself or a family member, then you can invest in this policy.

Talking about the terms of this policy, according to the company, any Indian citizen is eligible for investment in this policy but the age should be between 30 and 85 years. Any two members of a family can take a joint annuity. Minimum one lakh rupees can be invested and minimum annual pension will be Rs 12 thousand.

Pension can be received on yearly, half-yearly, quarterly and monthly basis. Tax under 80C of income tax on pension and loan facility is also available through it after 3 months (from the date of issue of policy).

There are 10 different options for getting pension. On choosing ‘Annuity payable for life at a uniform rate’ (Pension option ‘A’ per month), the pension is arranged every month. By investing in this policy, you can get 11 thousand rupees pension every month: –

Age: 80

Sum Assured: 900000

Lump Sum Premium: 916200

Pension:

Annual: 150885

Half Yearly: 72203

Quarterly: 35348

Monthly: 11614

According to the above example, if a person invests in this policy at the age of 80 years and chooses the sum assured of 900000, then he has to pay a total premium of Rs 916200. After this, if the option of pension is selected every month, then he will get a pension of Rs 11614 every month.

(Source: jansatta.com)