LIC Jeevan Akshay-V

          

      Features


Introduction:
This is an Immediate Annuity plan, which can be purchased through lump sum payment as Single Premium. The plan provides for annuity payments which are available throughout the life time of an annuitant. Various options are available for the type and mode of payment of annuities.


Options Available:
The following options are available under the plan

Type of Annuity:

  • Regular annuity for life. 
  • 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 increasing at simple rate of 3% p.a. 
  • Annuity for life with a provision of 50% of the annuity to spouse for life on death of the annuitant. 
  • Annuity for life with a provision of 100% of the annuity to spouse for life on death of the annuitant.

 You may choose any one. Once chosen, the option cannot be altered.

Mode:

  • Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals. You may opt any mode of payment of Annuity.


Salient features:

  • Premium is to be paid in a lump sum. 
  • Minimum purchase price : Rs.50,000/= or such amount which may secure a minimum annuity of Rs.3,000/- p.a. 
  • No medical examination is required under the plan. 
  • No maximum limits for purchase price, annuity etc. 
  • Minimum age 40 years last birthday, Maximum age 79 years last birthday. 
  • Age proof necessary.

Surrender Value :
No surrender value will be available under the policy.

Loan :
No loan will be available under the policy.