LIC's Jeevan Akshay- VII
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LIC’s Jeevan Akshay-VII (Plan No. 857) is a non-linked, non-participating, single-premium immediate annuity plan offered by the Life Insurance Corporation of India. Launched on February 28, 2023, this plan provides a guaranteed income stream for the policyholder's lifetime, with various annuity options to cater to different financial needs.
Key Features
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Single Premium: A one-time lump sum payment to purchase the annuity.
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Immediate Annuity: Annuity payments commence immediately, typically from the next month.
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Annuity Payment Modes: Monthly, Quarterly, Half-Yearly, or Yearly.
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Online Purchase Rebate: A 2% increase in the basic annuity rate for policies purchased online.
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No Maximum Limit: There is no upper cap on the purchase price.
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Tax Benefits: Premiums qualify for tax deductions under Section 80CCC of the Income Tax Act, 1961.insurance21.in+1livemint.com+1goodmoneying.com+2livemint.com+2stableinvestor.com+2licagent.co.in