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Jeevan Akshay VI 810

LIC Jeevan Akshay VI Pension Plan | LIC Plan 810 Features, Benefits

LIC Jeevan Akshay VI (Plan 810) is a Single Premium, Immediate Annuity plan. This immediate retirement plan which provides monthly pension throughout the life on one-time premium payment. Jeevan Akshay VI Pension Plan offered by LIC helps the individuals adequately for their retirement. With the high-speed rise in the cost of basic needs, your savings today might not reach the cost of necessities throughout the retired life.

Jeevan Akshay VI Retirement Plan Key Features

LIC Jeevan Akshay VI Pension plan provides for annuity payments of a stated amount throughout the lifetime of the Life assured. Various options are available for the type and mode of payment of pensions. Let’s check the key features of Jeevan Akshay VI Annuity Plan here.

  •     Single Premium: Policy Premium is to be paid in a lump sum.
  •     Minimum Purchase Price: For all distribution channels except online: Rs. 100,000/-.
  •     For online sale: Rs.150,000/-.
  •     No medical examination: No need of Medical examination under Jeevan Akshay VI plan.
  •     No maximum limits for the annuity purchase price:  Under LIC Pension Plan- Jeevan Akshay     VI there is no Maximum limit for policy buying and the Annuity, etc.
  •     The Minimum & Maximum allowed age at entry is 30 years (completed) and 85 years     (completed) respectively.
  •     Age proof of the Life assured is necessary.
  •     Under Jeevan Akshay VI pension plan 7 (seven) different types of annuities are available.
  1.         Annuity for Life.
  2.         An annuity is guaranteed for 5, 10, 15 or 20 years and life after that.
  3.         Annuity for Life with the return of purchase price on death.
  4.         Annuity for life is increasing at a simple rate of 3% per annum.
  5.         Pension for life with a provision for 50% of the pension to the spouse of the annuitant for life         on death of the annuitant.
  6.         Annuity for life with a provision for 100% of the annuity to the spouse of the life assured for         life on death of the Life Assured.
  7.        Pension for life with a provision of 100% of the annuity payable to spouse during his/her                   lifetime on the passing of annuitant with the return of purchase price on the passing of the last         survivor.
Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals. You may opt any mode of payment of Annuity.
Salient features
i)     Premium is to be paid in a lump sum.
ii)    Minimum purchase price: Rs.1,00,000/- for all distribution channels except online.
        Rs.1,50,000/- for on line sale.                                     
iii)   No medical examination is required under the plan.
iv)   No maximum limits for purchase price, annuity etc.
v)    Minimum age at entry: 30 years (completed).
vi)   Maximum age at entry: 100  years  (completed)  for  annuity  option Annuity  for  life  with  return  of  purchase  price  on  death  of  the annuitant 85 years (completed) for all annuity options other than Annuity for life with return of purchase price on death of the annuitant
vii)  Age proof necessary.

Statutory  Taxes,  if  any,  imposed  on  such  insurance  plans  by  the  Govt.  of  India  or  any  other constitutional Tax Authority of India shall be as per the Tax laws and the rate of tax as applicable from time to time.