LIC Jeevan Akshay-VI Policy:
It is an immediate annuity plan.It can be purchased buy paying lump sum amount. Plan provides fixed annuity till the maturity. Various options are available for annuity.
Key Features:
- This is an immediate annuity plan.
- Annuity is paid life time at fixed rate or as specified below.
- Death benefit: on death of the insured, assured sum is payable to the nominee or annuity of nominee starts.
- Accidental death and other riders can be added at nominal top up.
- Plan is tax exempted under 80(C) and 10(D).
Policy benefits:
- fixed annuity.
- Death Benefits as below:
- payable to the nominee the sum assured.
- Accidental death and disability benefit:
- No rider can be availed.
- Tax benefit:
- Premium is exempted from tax under 80(C)
- Sum assured is exempted from tax under 10(D)
Options of annuity:
- Annuity payable for life at a uniform rate.
- Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
- Annuity for life with return of purchase price on death of the annuitant.
- Annuity payable for life increasing at a simple rate of 3% p.a.
- Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
- Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
- Annuity for life with a provision of 100% of the annuity payable to spouse during his/ her life time on death of annuitant. The purchase price will be returned on the death of last survivor.
You may choose any one. Once chosen, the option cannot be altered.
Mode of annuity to be paid:
- Monthly
- Quarterly
- Half yearly
- Yearly
To know more about the policy and any other details regarding LIC, mail us at tinytopic@gmail.com
Also Read: LIC Amulya Jeevan 2 plan
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