Interest Rate of LIC Jeevan Akshay VI Plan (189) - [Explained]

Many people have asked, what is the interest rate of jeevan akshay plan? The answer is, Jeevan akshay does not have a straight forward x% of interest rate, rather it has 10 options and each option provides a fixed pension/annuity amount that depends on policy holder's age at the time of purchase.

So, LIC Jeevan Akshay VI plan is an immediate annuity plan which provides fixed annuity or pension as per selected pension option. The word immediate annuity signifies that policy holder will start receiving regular payouts immediately after completion of selected mode duration, for example, if monthly mode is chosen, then first amount will be available after completion of 1 month from date of purchase.

The Annuity or pension rates of each option are mentioned in a table against each permissible age, to explain it better, yearly pension or annuity for age 60 and 50 have been given below.

Yearly Pension Rate on 10,00,000 Purchase Price
Options [Know More about Options] Pension Amount
For 60 Year old For 50 Year old
Option-1 93650 81450
Option-2 92750 81250
Option-3 90850 80550
Option-4 88250 79650
Option-5 85050 78650
Option-6 70350 69550
Option-7 75750 63350
Option-8 86550 77650
Option-9 80550 74250
Option-10 69650 69050

As we can see from the above table that annuity/pension amount are dependent to pension option and age at the time of purchase. So for getting pension amount as per your age and choice of option, please use pension calculator of Jeevan Akshay Plan.

Comments & Reviews (12)

Wrote :

29-01-2021 22:27:58

Can I open Jeevan Akshay policy at the age of 69.

Wrote :

30-01-2021 13:20:12

Yes, you can calculate pension for you using the calculator of this plan.
Jeevan Akshay VII Pension Calculator

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Wrote :

01-06-2020 01:20:27

Can I pay all my installments at one time for Jeevan Anand and jeevan labh.. For all years at one time.

Wrote :

01-06-2020 15:30:13

No, single premium option is not available in these plans.

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Wrote :

12-03-2020 11:11:57

Suppose at the time of investment in LIC Jeevan Akshay age is 58 years .the rate of interest is 8.14% . and on other side rate of interest at the age of 60 years is 9.37 approx. the rate of interest will automatically increase or it will remain the same ?

Wrote :

12-03-2020 13:25:48

It will remain unchanged throughout the policy duration.

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Wrote :

14-03-2019 16:05:30

Sir Can I surrender my Jeevan Akshay VI Policy.

Wrote :

14-03-2019 20:54:18

What is your annuity option of Jeevan Akshay VI?

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Wrote :

30-12-2018 22:12:51

please confirm can we change the second holder name in this policy in between.

Wrote :

31-12-2018 11:52:24

Second holder allowed is spouse (wife or husband), so changing second holder means remarriage of first holder. Technically it should be possible, but we do not have information on it, please contact nearest branch. Above is for Jeevan Akshay, but in LIC Jeevan Shanti (850) Plan, second policy holder can be any lineal descendant/ascendant of a family (i.e. Grandparent, Parent, Children, Grandchildren) or spouse or siblings.

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Wrote :

21-07-2018 15:53:58

Sir, I have proposed to invest in option 10, my age 57 years 8 months and get Rs 3000.00 per month pension how much I have to invest today Supriya Mondal

Wrote :

21-07-2018 22:40:52

You need to buy this plan with 6,00,000 purchase value.

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Wrote :

25-03-2018 18:05:15

Hi, Is the annunity amount that you receive is taxable and it comes under Income from Other sources

Wrote :

26-03-2018 19:33:09

Yes, it will be included into your income for tax calculation.

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Wrote :

19-03-2018 23:40:00

Can I make my son nominee ( who is Minor ) with wife as Guardiian

Wrote :

19-03-2018 23:42:23

Yes, Son can be your nominee.

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Wrote :

19-01-2018 20:45:11

Sir, In option nine, if husband is policy holder and in case of his wife's death, what will happen?

Wrote :

19-01-2018 22:16:05

In case of death of policyholder's spouse (wife) before policyholder (husband), policyholder will continue to receive pension as long as policyholder (husband) survives and in case of death of policyholder, purchase price will not be returned to anyone.

Wrote :

20-01-2018 23:10:47

Thanks for reply, noted the contents. I have understood from your reply that if wife death happens first before husband, since husband is policy holder, obviously husband will be getting pension till survives,right.! Please elaborate this: In option 10: If husband is policy holder and if wife death occurs before husband, then pension obviously continues to husband I believe. But as you have mentioned example, if husband death the purchase price is returned to nominee or nominee also will get pension and if nominee also dies after wife,what will happen?

Wrote :

21-01-2018 00:43:46

Nominee will not get pension. If nominee is not alive then, puchase price will be given to the legal hair. Please note, it is not official information from LIC, for more details, please visit nearest lic branch.

Wrote :

21-01-2018 11:33:32

Thanks so much for replying

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Wrote :

25-10-2017 05:03:34

Sir, I have proposed to invest in option 10. May I give option of getting pension by son age 30 now after my demise. Whether he can get the same amount of pension till his life. My son can nominate someone to get the invested amount.

Wrote :

26-10-2017 00:56:22

No, option 10 is for spouse i.e. wife and husband only, not other than spouse.

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Wrote :

22-09-2017 13:40:07

Please give the details about option 1

Wrote :

22-09-2017 20:56:38

Please read here to know more about all options of jeevan akshay.

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Wrote :

07-07-2017 15:01:01

what is the interest rate?

Wrote :

07-07-2017 16:48:47

It is already explained above.

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