The purchase price will be returned on the death of last survivor. 5. Options Available: Service Tax: The product information for comparison displayed on this website is of the insurers with whom our company has an agreement. Service tax (if any) must be paid according to the Service Tax Laws and at the Service tax rate as applicable at regular intervals of time. It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. Further, for the policies that are sold online, there is an availability of a rebate of 1 percent by way of adding in the rate of the annuity. BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS. The following options are available under the plan 06 Registration Code No. 857, UIN : 512N337V01) LIC's Jeevan Akshay - VII (Plan No. 2.5 lakhs or more. Depends on the Purchase Price and entry age. Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive. 4) Pension amount would depend on the terms of the pension plan. Minimum allowed age at entry is 30 years (completed) and Maximum allowed age at entry is 85 years (completed). The service tax amount, according to the prevailing rates, must be paid along with the purchase price. Paid-up value: Type of Annuity: You may choose any one. IRDAI/WBA21/15 Valid till 13/07/2021. - For the purposes of this sub-section, the misstatement of or suppression of fact shall not be considered material unless it has a direct bearing on the risk undertaken by the insurer, the onus is on the insurer to show that had the insurer been aware of the said fact no life insurance policy would have been issued to the insured. LIC Jeevan Akshay Pension Plan. Lifetime Annuity with Return of Purchase Price, Life Annuity guaranteed for 5/10/15 or 20 years and thereafter payable for life. It is single premium, non linked, non participating and immediate annuity pension plan where one can get immediate pension income after purchase. We Would love to interact with you, LIC Jeevan Akshay VI – Jeevan Akshay 6 Pension Plan, Benefits and Types. Policybazaar does not in any form or manner endorse the information so provided on the website and strives to provide factual and unbiased information to customers to assist in making informed insurance choices. 4. *The information provided on this website/page is only for information sake. Policy Termination or Surrender Benefit: the policy does not acquire any Surrender Value. You may opt any mode of payment of Annuity.. You can buy Jeevan Akshay plan by making payment of the lump-sum amount. Once chosen, the option cannot be altered. This plan, which is a successor of Jeevan Akshay VI replaces the immediate annuity option of Jeevan Shanti (Plan No 850) with effect from 25th August 2020. Based on the mode of payment chosen you will start getting pension as follows: You will get a higher annuity amount due to the available incentives if you buy a policy for a purchase price of Rs. It is an immediate annuity plan with additional enhancements and changes. Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant. 857, UIN : 512N337V01) Basic Safety measures to fight against Coronavirus Disease(COVID-19), Intimation to policyholders regarding changes in tax structure due to implementation of Goods and ServicesTax (GST) - Click Here, Beware of Spurious Phone Call and Fictitious/Fraudulent Offers, " FRAUDULENT RECRUITMENT ADs: BEWARE...!
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