Pension Scheme: Being a prominent insurance firm in the nation, LIC holds a distinguished position amongst investors. It consistently introduces commendable policies catering to diverse segments of society, establishing a strong foundation of trust. This particular policy serves as a safety net for people employed within the private sector. Opting for the LIC Jeevan Akshay Policy can significantly contribute to securing a prosperous future. In essence, this policy serves as an effective retirement strategy.
More about LIC Jeevan Akshay policy
The Jeevan Akshay policy is categorised as an immediate annuity plan, by a one-time premium payment requirement. An investment is made into this policy, offering the flexibility to opt for annuity payouts on a monthly, quarterly, half-yearly, or annual basis. Payouts commence right from the beginning of the plan, with the requirement that the chosen payment option remains fixed and cannot be changed subsequently.
The quantum of pension corresponds to the extent of investment in this scheme. An entry with as little as Rs 1 lakh is allowed, requiring the individual to be at least 30 years of age. For instance, investing Rs 5 lakh in this scheme yields an annual return of Rs 28,625. The policy offers diverse payout options, encompassing a monthly pension of Rs 2,315, a quarterly pension of Rs 6,988, and a semi-annual pension of Rs 14,088.
How will you get monthly pension of INR 16,000?
If you aspire to receive a consistent monthly pension of ₹16,000 post-retirement via the LIC Jeevan Akshay Plan, a lump sum investment of ₹35 lakh is required. This investment configuration ensures a monthly pension of ₹16,479, a quarterly pension of ₹49,744, a semi-annual pension of ₹1,00,275, and an annual pension of ₹2,03,700.
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