Online Pension plan: New Jeevan Akshay VI

LIC has customized traditional Jeevan Akshay VI the only immediate pension plan to sell it online due to the huge demand for online LIC policy. Jeevan Akshay VI is the single premium pension plan.


  • It’s a single premium pension plan with a minimum purchase price of Rs.1,00,000/- (except online.)
  • If you want to buy it online the minimum purchase would be Rs.1,50,000/-
  • No maximum purchase price limit or pension.
  • Minimum entry age: 30 years (completed)
  • Maximum entry age: 85 years (completed).
  • No medical examination is needed in this plan.
  • Age proof must be produced.

New Jeevan Akshay VI can be bought online and offline with these 7 pension Options:

  1. Annuity payable for life at a fixed rate.
  2. Annuity payable for 5, 10, 15, or 20 years certain and thereafter as long as the annuitant is alive. (4 Options)
  3. Annuity for life with return of purchase price on death of the annuitant.
  4. Annuity payable for life increasing at a simple rate of 3% p.a.
  5. Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
  6. Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
  7. Annuity for life with a provision of 100% of the annuity payable to spouse during his/ her lifetime on death of the annuitant. The purchase price will be returned on the death of the last survivor.

Anyone who is eligible for the above plan can buy it online or contact their LIC agent to enroll it offline.

Flexible Pension option:
Receive pension monthly, quarterly, half-yearly, or yearly.

Also Read  LIC Saral Pension: All you need to know

Surrender value:
There is no surrender value for this policy, hence you can not surrender.

No loan available under this plan.

Service tax:
Service tax shall be payable by the policyholder along with the purchase price.

Which Proposal form?
Proposal Form 440 (IA) should be used under this plan for the offline policy.

Example:  If Mr. Rakesh (Age 40 ) buys an online pension plan with the minimum purchase price of Rs.1.5 lac He will need to pay Rs.1,50,000/- plus Rs.4635/- service tax (This may change as service tax change) total: Rs.1,54,635/- Depending on 7 options chosen Mr. Rakesh will get approx. 10,000 to 11,200/- annual pension. for more details click her

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  2. Mrinal kanti barman January 9, 2013 at 11:34 am

    if i open any account to lic the agent gets commision but if i do directly do i get any advantage ?

  3. 1. Can I invest in Jeevan Akshay VI without visiting LIC office or LIC Agent.
    2. How or What are the options to pay the amount (Rs.1,54,635/).
    3. I would also like to know whether I will get the pension amount directly in my saving bank account.

  4. Please tell me what is the status of LIC wealth plus plan which I had joined 2 years before??

  5. Please send me more details of one time payment and the rate of interest/tax benifits/bening as a NRI, any additional benifits ? when i do not want to coninue in the scheme, what will be your % deduction or levy of any taxes etc; since I am seeing the 3% interest is very low; we are already getting the interest of 4% on our SB accounts !

    Please reply to me,

    C.K. Dasan,
    Muscat, 00968 99066807

    Paisa Portal