Jeevan Akshay VI – Pension plan

Jeevan Akshay VI Table No. 189 Summary:

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.

Options Available:
The following options are available under this pension plan.

Type of Annuity:

  1. Pension (Annuity) payable for life at a uniform rate.
  2. Pension (Annuity) payable for 5, 10, 15 or 20 years certain and thereafter as long as you are alive.
  3. Pension (Annuity) for life with return of purchase price on death of the annuitant (Policyholder).
  4. Pension (Annuity) payable for life increasing at a simple rate of 3% p.a.
  5. Pension (Annuity) for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
  6. Pension (Annuity) for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.

You may choose any one option from the above list. However once chosen, the option cannot be altered.

Mode:

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

Special 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 as under:
    ModeMinimum Annuity
    MonthlyRs. 500 per month
    QuarterlyRs. 1000 per quarter
    Half-yearlyRs. 2000 per half year
    YearlyRs. 3000 per year
  3. No medical examination is required under the plan.
  4. No maximum limits for the purchase price, annuity, etc.
  5. Minimum age at entry 40 years last birthday and Maximum age at entry 79 years last birthday.
  6. Age proof necessary.
Also Read  Jeevan Nischay

Incentives for high purchase price:
If your purchase price is Rs. 1.50 lakh or more, you will receive a higher amount of annuity due to available incentives.

Annuity Rate:
The amount of annuity payable at yearly intervals which can be purchased for Rs. 1 lakh under different options is as under:

Age last birthdayYearly annuity amount under option
( i )( ii ) (15 years certain)( iii )( iv )( v )( vi )
40751074406930561073107120
45777076606960589075007240
50814079507000628077607420
55865083307050681081307670
60935087907110753086408030
651041093307180859094008570
70120809830726010220105609370
7514510102207360125901224010590

The Unique Identification Number (UIN) for LIC’s Jeevan Akshay VI plan is 512N234V03.

Cooling off period:
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.

How to Apply for LIC Of India’s Amulya Jeevan 1?
Contact your nearest Life Insurance Corporation Of India (LIC of India) Branch/ LIC Agent.

Note:
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.

 

  1. Hi,
    I invested about 2,10,000 in about 3 years and a quarter in MNYL ULIP policy and used to get BP and headache whenever i have called them to know about the policy value, so i decided to cancel the policy with a loss of 20,000. So I need to know what is a better policy for me in LIC which will not give me a headache or High BP.

    Please reply, as i am ready to invest.

    Thanks & Regards,
    Prasad

  2. Hi,

    I am 40 years old. I want to invest 20 to 25 laks in immediate annuity (Jeevan Akshay VI plan) and i want to chose the option where the annuity rate increases by 3% per year. Can you pls tell me how much money i will get every month, and how good is the growth every year.

  3. when i will deposit 2 lacs in pension plan,
    how much i will receive on monthly

    • What is the minimum entry age for policy jeevan akshay VI plan.189, as i saw 30 years(minimum entry age) in LIC site

  4. Is there any risk coverage under jeevan akshay VI. If no return on invested amount is very low as compared to return available from banks.I have already invested rs.5lac under Plan 189 (jeevan Akshaya VI). On perusal of policy I did not find the option opted by me. Policy merely indicates the plan 189 which contains the details of all 6 options and do not speak the OPTION opted by me. Pl. reply. Thanks.

  5. Niladri Bhattacharya , Agent LIC of India , Code 10702416 September 24, 2010 at 6:37 pm

    Mr. Kale ,
    I need the age of your sister .
    The policy can be issued from Kolkata .

  6. If my widow sister take the Jeevan Akshay 6 Table No. 189 Policy with a amount of Rs.300000/- Then plase let me know how much pension she can get per month and from when the pension starts ?

  7. Dear sir,

    1. I have to invest 1 lac to 1.5 lac in one to three years(one time or yearly payment) for pension plan. i need pension exactly after 5 year(now my age is 44) what plan suitable for my age and time period. how much getting pension for after 5 years period per month.

    2. I need pension 6k to 7k then how much i have invest.

    Please advice
    Thanks for your advance help.

  8. Dear Sir,
    I plan to invest 1 time payment of 3L into annuity for life with return of purchase price, as I am told this is popular. My querry:
    Please revert how much i will get yearly. My age is 60 yrs.
    If I die in two years time to whom and how much will my nominee get.

    also what can u tell me about Beema Bachat scheme as many I read wants to pull out from Jeevan Akshay-VI and reinvest in Beema Bachat.

    Thanks and awaiting your prompt reply.
    Lobo

  9. I would like to invest Rs. 10 lakhs in Jeevan Akshay. I am 64. How much income can I expect every month?

  10. 1) i am a pensioner and will be 60 yrs next april i.e april2011. i would like to know about a pension scheme from which i can get a monthly income of Rs. 20,000/- and for that how much i have to invest in lumpsome.

    2) if i invest Rs. 2-3 lakhs as one time investment ,how much i can get as pension from immediate effect.
    kindly mail me the address of the office which i can contact in bangalore as i am staying in bangalore

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