LIC Jeevan Akshay 7 Annuity Insurance Scheme: Life Insurance Corporation of India (LIC) is one of the most respected insurance company in the country. That is why it is always safe to invest in every policy. Millions of people continue to invest in LIC’s one-way policy, as it is a government-run company. In addition, investing in LIC’s policy also gives a good return on maturity to any kind of risk from accident to insurance.
What are the benefits of Jeevan Akshay-7 annuity scheme?
Recently, life Insurance Corporation of India has come up with its new policy. This policy is very beneficial. This is lic’s life Akshay-7 (plan No. 857). It is a single premium, non-linked, non-participating and personal instant annuity policy. The scheme has been commissioned by LIC from 25th August 2020. Shareholders get the option to choose one of the 10 available annuity options on payment of lump sum amount. At the beginning of the policy, the rates of annuity are guaranteed, and annuity is paid to the annuity.
How much is the minimum and maximum investment?
Lic’s scheme can benefit any person aged 30 years to 85 years. The special point of the scheme is that persons with disabilities can also avail the benefit of the scheme. In addition, the policyholder also gets the loan facility, which can be taken three months after the policy. The policyholder has to invest at least Rs. 1 lakh to avail the benefit of the scheme. It can be purchased annually, 6 months, 3 months and 1 month in annuity. The lowest annuity of the scheme is Rs 12, 000 per annum, and the maximum amount can be invested.
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Who benefits more?
The person who invests more than 5 lakh in this scheme also gets incentive as an increase in the annuity rate. For information, let’s say that the interest on the money invested in the annuity scheme becomes good income after a fixed time. After a lump sum investment, the scheme also has a fixed income on a regular scale.
Find out which are the options
Option A: Imedit Annuity for Life
Option B: Intermediate annuity with guaranteed period of 5 years followed by lifetime payment
Option C: Intermediate annuity with guaranteed period of 10 years followed by lifetime payment
Option D: Intermediate annuity with guaranteed period of 15 years followed by lifetime payment
Option E: Intermediate annuity with guaranteed period of 20 years followed by lifetime payment
Option F: Payment of lifetime annuity with returns of purchase price
Option G: Paying age annuity with simple interest of 3 per cent annually
Option H: Age-long Joint Life Intermediate Annuity with provision to provide 50 per cent annuity to secondary annuity on death of primary annuity
Option I: Age-long Joint Life Intermediate Annuity with a provision to provide 100 per cent annuity for over-serving an annuity of an annuity
Option J: Provide 100 per cent annuity for over-serving an annuity of one annuity and an age-long joint life intermediate annuity with a provision to return the purchase price on the death of the last survivor
Who can apply on this plan?
More than one people from the same family can avail the benefit of lic scheme. The scheme can also be taken up with joint life annuity between 2 people, descendants of the same family, husband and wife or siblings.
