Recently, the country’s largest insurance company Life Insurance Corporation of India (LIC) has launched a special policy. The name of this policy is Jeevan Akshay-7 (Plan Number 857). The most important thing about this plan is that you can earn a lifetime by investing. Let us know about it in detail.
LIC’s Jeevan Akshay-7 is a single premium non-linked, non-participating and personal annuity scheme. Let me tell you here that after a lump sum investment in any annuity scheme there is a fixed income. This earning goes on throughout the life.
Types of annual, half-yearly, quarterly and monthly annuities are available in the policy. The minimum annuity is Rs 12,000 annually. Annuity rates are guaranteed at the beginning of the policy.
This plan can be purchased both online and offline. The minimum purchase price for this plan is one lakh rupees. There is no maximum purchase price limit.
This plan is available for ages from 30 years to 85 years. The scheme can also be purchased to benefit the differently-abled (handicapped dependent).
In this scheme, a joint life annuity can be taken between any two descendants, descendants of the same family (grandparents, parents, children, grandchildren), spouses or siblings.
The loan is also available for three months after the policy is issued. This means that policy holders will also be able to take loans.
