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 (6)

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

Replied : 26-03-2018 19:33:09
Yes, it will be included into your income for tax calculation.

Write CommentReply

Wrote : 19-03-2018 23:40:00

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

Replied : 19-03-2018 23:42:23
Yes, Son can be your nominee.

Write CommentReply

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?

Replied : 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?

Replied : 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

Write CommentReply

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.

Replied : 26-10-2017 00:56:22
No, option 10 is for spouse i.e. wife and husband only, not other than spouse.

Write CommentReply

Wrote : 22-09-2017 13:40:07

Please give the details about option 1

Replied : 22-09-2017 20:56:38
Please read here to know more about all options of jeevan akshay.

Write CommentReply

Wrote : 07-07-2017 15:01:01

what is the interest rate?

Replied : 07-07-2017 16:48:47
It is already explained above.

Write CommentReply

Write Comment & Reviews