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LIC — Pension / Retirement Plans
LIC's Jeevan Akshay VII
Premium
Single Premium
Sum Assured
Based on purchase price
Term
Whole Life
Premium Paying
Single Pay only
Key Features
Immediate annuity from next month
10 annuity options available
Guaranteed pension for life
Pension can be monthly/quarterly/half-yearly/yearly
Return of purchase price option
No medical examination required
Minimum purchase price ₹1,00,000
Higher pension for higher purchase price
Benefits
Maturity Benefit
Immediate guaranteed pension starts
Death Benefit
Return of Purchase Price to nominee (in most options)
Eligibility
Age: 30-85 years, Min Purchase Price: ₹1,00,000
Highlights
Pay once, get pension for life - simplest retirement solution from LIC