New Delhi :
Renowned for its reliability, LIC policies serve as a trusted investment option for a multitude of individuals. While private sector employees often lack the pension security post-retirement, planning for a secure financial future becomes essential.
The LIC Jeevan Akshay Policy emerges as a potent retirement planning solution, offering substantial benefits for a worry-free retirement.
LIC Jeevan Akshay Policy Details
LIC Jeevan Akshay Policy is an annuity plan designed to ensure steady post-retirement income. This policy operates on a single premium payment model, where a lump sum investment guarantees a regular pension payout.
With options to receive annuity payments on a monthly, quarterly, semi-annual, or annual basis, retirees can tailor the plan to suit their needs.
Payments commence immediately upon the plan’s activation, offering timely financial assistance.
Pension Amount
The pension amount received under this scheme is directly proportional to the invested sum. While the minimum investment starts at ₹1 lakh, the age requirement for entry is a minimum of 30 years.
As an example, an investment of ₹5 lakh yields an annual return of ₹28,625, translating to ₹2,315 per month, ₹6,988 per quarter, and ₹14,088 semi-annually.
₹16,000 Monthly Pension
For those aiming to secure a ₹16,000 monthly pension through the LIC Jeevan Akshay Plan post-retirement, an investment of ₹35 lakh is required.
With this investment, retirees can relish a monthly pension of ₹16,479, a quarterly payout of ₹49,744, a semi-annual payment of ₹1,00,275, and an annual pension of ₹2,03,700.
