LIC's Jeevan Akshay

LIC's Jeevan Akshay is an annuity plan offered by the Life Insurance Corporation of India (LIC). It is a non-linked, immediate annuity plan that provides a steady income stream to the policyholder throughout their lifetime.

Here are some key features of LIC's Jeevan Akshay plan:

1. Annuity Options: Jeevan Akshay offers several annuity options to suit different individuals' needs and preferences. These options include a lifetime annuity, joint-life annuity, and annuity with a return of purchase price.

2. Immediate Annuity: This plan provides immediate annuity payouts, which means the policyholder starts receiving regular income from the very first year of the policy.

3. Premium Payment: Jeevan Akshay is a single premium plan, which means the policyholder needs to make a lump sum payment at the time of purchasing the policy.

4. Annuity Payout Modes: The plan offers various modes of annuity payouts, such as monthly, quarterly, half-yearly, and annual modes. Policyholders can choose the payout frequency based on their preference.

5. Flexibility: Jeevan Akshay provides flexibility in terms of annuity options and payout modes. Policyholders can select the annuity option and payout frequency that best suits their requirements.

6. Eligibility: The minimum entry age for Jeevan Akshay is 30 years, and there is no maximum entry age limit. The minimum purchase price varies based on the annuity option chosen.

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