<h3><strong><span style="text-decoration: underline;">Jeevan Akshay VI Table No. 189 Summary:</span></strong></h3>
<p>Jeevan Akshay VI plan no.189 is an Immediate Pension (Annuity) plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant (Policy holder). Various options are available for the type and mode of payment of annuities.</p>
<p><strong>Options Available:<br />
</strong>The following options are available under this pension plan.</p>
<p><strong>Type of Annuity:</strong></p>
<ol>
<li>Pension (Annuity) payable for life at a uniform rate.</li>
<li>Pension (Annuity) payable for 5, 10, 15 or 20 years certain and thereafter as long as you are alive.</li>
<li>Pension (Annuity) for life with return of purchase price on death of the annuitant (Policyholder).</li>
<li>Pension (Annuity) payable for life increasing at a simple rate of 3% p.a.</li>
<li>Pension (Annuity) for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.</li>
<li>Pension (Annuity) for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.</li>
</ol>
<p>You may choose any one option from the above list. However once chosen, the option cannot be altered.</p>
<p><span style="text-decoration: underline;"><strong>Mode:<br />
</strong></span></p>
<p>The annuity may be paid either at monthly, quarterly, half-yearly, or yearly intervals. You may opt for any mode of payment of Annuity.</p>
<p><span style="text-decoration: underline;"><strong>Special Features:</strong></span></p>
<ol>
<li>Premium is to be paid in a lump sum.</li>
<li>Minimum purchase price: Rs.50,000/= or such amount which may secure a minimum annuity as under:<br />
<table style="width: 350px;" border="1" cellspacing="1" cellpadding="1" bgcolor="#ffffff">
<tbody>
<tr>
<td><strong>Mode</strong></td>
<td><strong>Minimum Annuity</strong></td>
</tr>
<tr>
<td>Monthly</td>
<td>Rs. 500 per month</td>
</tr>
<tr>
<td>Quarterly</td>
<td>Rs. 1000 per quarter</td>
</tr>
<tr>
<td>Half-yearly</td>
<td>Rs. 2000 per half year</td>
</tr>
<tr>
<td>Yearly</td>
<td>Rs. 3000 per year</td>
</tr>
</tbody>
</table>
</li>
<li><strong>No medical</strong> examination is required under the plan.</li>
<li>No maximum limits for the purchase price, annuity, etc.</li>
<li>Minimum age at entry 40 years last birthday and Maximum age at entry 79 years last birthday.</li>
<li>Age proof necessary.</li>
</ol>
<p><span style="text-decoration: underline;"><strong>Incentives for high purchase price:</strong></span><br />
If your purchase price is Rs. 1.50 lakh or more, you will receive a higher amount of annuity due to available incentives.</p>
<p><strong>Annuity Rate:</strong><br />
The amount of annuity payable at yearly intervals which can be purchased for Rs. 1 lakh under different options is as under:</p>
<table style="width: 480px; height: 187px;" border="1" cellspacing="1" cellpadding="1" align="left" bgcolor="#ffffff">
<tbody>
<tr>
<td align="center" valign="middle"><strong>Age last birthday</strong></td>
<td colspan="6" align="center" valign="middle"><strong>Yearly annuity amount under option</strong></td>
</tr>
<tr>
<td align="center" valign="middle"></td>
<td align="center" valign="middle"><strong>( i )</strong></td>
<td align="center" valign="middle"><strong>( ii ) (15 years certain)</strong></td>
<td align="center" valign="middle"><strong>( iii )</strong></td>
<td align="center" valign="middle"><strong>( iv )</strong></td>
<td align="center" valign="middle"><strong>( v )</strong></td>
<td align="center" valign="middle"><strong>( vi )</strong></td>
</tr>
<tr>
<td align="center" valign="middle">40</td>
<td align="center" valign="middle">7510</td>
<td align="center" valign="middle">7440</td>
<td align="center" valign="middle">6930</td>
<td align="center" valign="middle">5610</td>
<td align="center" valign="middle">7310</td>
<td align="center" valign="middle">7120</td>
</tr>
<tr>
<td align="center" valign="middle">45</td>
<td align="center" valign="middle">7770</td>
<td align="center" valign="middle">7660</td>
<td align="center" valign="middle">6960</td>
<td align="center" valign="middle">5890</td>
<td align="center" valign="middle">7500</td>
<td align="center" valign="middle">7240</td>
</tr>
<tr>
<td align="center" valign="middle">50</td>
<td align="center" valign="middle">8140</td>
<td align="center" valign="middle">7950</td>
<td align="center" valign="middle">7000</td>
<td align="center" valign="middle">6280</td>
<td align="center" valign="middle">7760</td>
<td align="center" valign="middle">7420</td>
</tr>
<tr>
<td align="center" valign="middle">55</td>
<td align="center" valign="middle">8650</td>
<td align="center" valign="middle">8330</td>
<td align="center" valign="middle">7050</td>
<td align="center" valign="middle">6810</td>
<td align="center" valign="middle">8130</td>
<td align="center" valign="middle">7670</td>
</tr>
<tr>
<td align="center" valign="middle">60</td>
<td align="center" valign="middle">9350</td>
<td align="center" valign="middle">8790</td>
<td align="center" valign="middle">7110</td>
<td align="center" valign="middle">7530</td>
<td align="center" valign="middle">8640</td>
<td align="center" valign="middle">8030</td>
</tr>
<tr>
<td align="center" valign="middle">65</td>
<td align="center" valign="middle">10410</td>
<td align="center" valign="middle">9330</td>
<td align="center" valign="middle">7180</td>
<td align="center" valign="middle">8590</td>
<td align="center" valign="middle">9400</td>
<td align="center" valign="middle">8570</td>
</tr>
<tr>
<td align="center" valign="middle">70</td>
<td align="center" valign="middle">12080</td>
<td align="center" valign="middle">9830</td>
<td align="center" valign="middle">7260</td>
<td align="center" valign="middle">10220</td>
<td align="center" valign="middle">10560</td>
<td align="center" valign="middle">9370</td>
</tr>
<tr>
<td align="center" valign="middle">75</td>
<td align="center" valign="middle">14510</td>
<td align="center" valign="middle">10220</td>
<td align="center" valign="middle">7360</td>
<td align="center" valign="middle">12590</td>
<td align="center" valign="middle">12240</td>
<td align="center" valign="middle">10590</td>
</tr>
</tbody>
</table>
<p>The Unique Identification Number (UIN) for LIC’s Jeevan Akshay VI plan is 512N234V03.</p>
<p><strong>Cooling off period:</strong><br />
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to Life Insurance Corporation Of India within 15 days.</p>
<p><strong><span style="text-decoration: underline;">How to Apply for LIC Of India’s Amulya </span><span style="text-decoration: underline;">Jeevan 1</span><span style="text-decoration: underline;">?</span></strong><strong><br />
</strong>Contact your nearest Life Insurance Corporation Of India (LIC of India) Branch/ LIC Agent.</p>
<p><strong><span style="text-decoration: underline;">Note</span>:</strong><br />
The above is the product summary giving the key features of the plan. This is for illustrative purposes only. This does not represent a contract and for details please refer to your policy document.</p>
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This post was last modified on March 22, 2021
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