LIC JEEVAN AKSHAY VII Plan

LIC JEEVAN AKSHAY VII is a Non-Linked, Non-Participating, Individual Immediate Annuity Plan with many options. This is an Immediate Annuity plan wherein the Policyholder has the option to choose the type of annuity from the 10 available options on payment of a lump sum amount. • The annuity rates are guaranteed at the inception of the policy and annuities are payable throughout the lifetime of the Annuitant(s).

LIC JEEVAN AKSHAY VII plan features:

1. Premium is to be paid in a lump sum.
2. Minimum purchase price: Rs.50,000/= or such amount which may secure a minimum
annuity of Rs.3,000/- p.a.
3. You may choose your annuity to be paid either monthly, quarterly, half-yearly or at yearly
intervals.
4. No medical examination is required under the plan.
5. No maximum limits for purchase price, annuity etc.
6. Minimum age 40 years last birthday, Maximum age 79 years last birthday.
7. Age proof required.

How to buy LIC JEEVAN AKSHAY VII plan

To buy LIC JEEVAN AKSHAY VII, WhatsApp/ call at +919886568000  

Options Available under LIC JEEVAN AKSHAY VII

The investor can decide on the below given options while filling the form.

• Option A: Immediate Annuity for life.
• Option B: Immediate Annuity with guaranteed period of 5 years and life thereafter.
• Option C: Immediate Annuity with guaranteed period of 10 years and life thereafter.
• Option D: Immediate Annuity with guaranteed period of 15 years and life thereafter.
• Option E: Immediate Annuity with guaranteed period of 20 years and life thereafter.
• Option F: Immediate Annuity for life with return of Purchase Price.
• Option G: Immediate Annuity for life increasing at a simple rate of 3% p.a.
• Option H: Joint Life Immediate Annuity for life with a provision for 50% of the annuity to the Secondary Annuitant on death of the Primary Annuitant.
• Option I: Joint Life Immediate Annuity for life with a provision for 100% of the annuity payable as long as one of the Annuitant survives.
• Option J: Joint Life Immediate Annuity for life with a provision for 100% of the annuity payable as long as one of the Annuitant survives and return of Purchase Price on death of last survivor.

Mode of the payment of the Annuity under LIC JEEVAN AKSHAY VII plan:

The investor can choose the option of receiving the pension in monthly, quarterly, half-yearly or in yearly modes. Annuity option once chosen cannot be altered.

LIC JEEVAN AKSHAY VII plan loan and other details :

Loan facility shall be available at any time after three months from the completion of policy.