LIC INSURANCE CORPORATION JEEVAN AKSHAY VI 189

 LIC INSURANCE CORPORATION

JEEVAN AKSHAY VI 189

 

PRODUCT SUMMERY:

LIC Jeevan Akshay VI(189) is an immediate annuity plan that can be bought  by paying a lump sum as single premium.Pension will start immediately after buying the policy.Various options are available for the type and mode of payment of annuities But once chosen,It can not be changed. 

PREMIUM PAYMENT MODE:

Single Premium

ANNUITY MODE:

Annuity may be either at monthly,Quarterly,Half yearly or yearly inervals.

you may opt any mode of payment of annuity.

MINIMUM ENTRY AGE:

30Years completed.

MAXIMUM ENTRY AGE:

1. 100 Year Last Birthday for Option[F] Annuity for life with return of purchase price on death.
2. 85 Year last Birthday for all annuity option other than option F  

MINIMUM SUM ASSURED:

Rs 1,00,000/- for all distribution channels except online.
Rs 1,50,000/- for on line sale.

MAXIMUM SUM ASSURED:

NO LIMIT

ANNUITY OPTION:

i) Annuity for life.
ii) Annuity guaranteed for 5,10,15,20 years And for life thereafter.
iii)Annuity for life with return of purchase price on death.
iv)Annuity for life purchasing at a simple rate 3 % P.A
v)Annuity for life with a provision for 50 % of the annuity to the spouse of the annuitant for life on death of the annuitant.
vi)Annuity for life with a provision for 100% of the annuity o he spouse of the annuitant for life on death of the annuitant.
vii)Annuiy for life with a provision of 100% of the annuity payable o spouse during his/her life time on death f annuitant with return of purchase price on the death of last survivor.

POLICY BENEFITS:

ON DEATH:
a) Under option(i)
 payment of annuity ceases.
b) Under option (ii) 
1.On death during the guarantee period- annuity is paid to the nominee till the end of the guraneed period after which the same ceases.
2.On death after the guranee period- payment of annuity ceases.
c) Under option (iii)
Payment of annuity eases and the purchase price is returned to the nominee.
d) Under option (iv)
Payment of annuity cease.
e)Under option(v)
Payment of annuity ceases and 100% of the annuity is paid to the surviving names spouse during hos /her life time If the spouse predeceases the annuitant,nohing is payable after the death of the annuitant.
g) Under option(vi)
Payment of annuity ceases 100% of the annuity is paid o the surviving named spouse during his/her life time and purchase price is returned  the nominee after the death of the spouse.If the spouse predeceases the annuitant the annuity ceases and purchase price is paid to the nominee.The amount of annuity shall be assured throughout the period for which it is payable.

SURRENDERED VALUE:

Surrender shall be allowed after completion of at least one policy year from date of commencement of policy only for annuity option F Annuity for life with return of purchase price in some circumstance  

LOAN:

No Loan Available 

INCOME TAX:

Premium paid under this plan is eligible for TAX rebate under section 80 c
Pension that is received is taxable.

 FOR MORE DETAILS:

ALLWIN J

LIC AGENT/ADVISOR

LIC0207174G

PH: 82202 00471/63821 58007

E-MAIL: allwin.js2009@gmail.com