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Jeevan Akshay (VI) (Table No. 189)



LIC Jeevan Akshay VI (Table no.189) is an immediate Annuity plan which can be purchased by a Lump sum amount.The plan provides for annuity payments of a stated amount throughout the life time of the annuitant.Payment of annuities can be made by various options. Immediate Annuity Plan Annuity starts as early as the next month.Single premium plan: “Pay Once Enjoy Forever”.

Key Benefits:

Single premium and immediate pension.

Retirement Planning.

10 different methods for getting pension.

Option to secure pension for spouse.

Option for guaranteed pension for fixed period.


Eligibility Criteria
Minimum Age at Entry 30 Years (Completed)
Maximum Age at Entry 85 years (completed)
Policy Term 10 Years to 20 Years
Minimum Single Premium 1.00,000/-
Maximum Sum Assured No Limit
Mode Of Pension Yearly, Half-Yearly, Quaterly, Monthly
(Payable through ECS / NEFT)
Loan Not Applicable
Surrender Not Applicable

Options of Annuities to choose from: (Jeevan Akshay VI)

Immediate Annuity per annum payable for the remainder of life.

Immediate Annuity per annum payable for 5 years certain so long thereafter as the annuitant may be alive.

Immediate annuity per annum payable for 10 years certain and so long thereafter as the annuitant may be alive.

Immediate Annuity per annum payable for 15 years certain and so long thereafter as the annuitant may be alive.

Immediate Annuity per annum payable for 20 years certain and so long thereafter as the annuitant may be alive.

Immediate Annuity per annum payable for life with return of purchase price on death of the annuitant.

Immediate Annuity increasing at 3% per annum (simple) payable for life.

Immediate Annuity for life with a provision for 50 % of the annuity to the spouse on the death of the annuitant.

Immediate Annuity for life with a provision for 100 % of the annuity to the spouse on the death of the annuitant.

Annuity for life with a provision for 100% annuity payable to spouse on the death of annuitant with a return of purchase price on death of the last survivor.

No medical examination is required for purchasing this policy.

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.

Example of annuity option:

Comments (Ask An Experts)

Komila Wrote :

Regarding plan for 81 yr old

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