LIC Jeevan Akshay VI table no 810 – A Pension plan from LIC of India

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LIC Jeevan Akshay VI table no 810 policy is one of the popular pension plan from LIC of India. LIC Jeevan Akshay 6 is an Immediate Annuity Plan under which insurer can start getting pension from the next month of policy purchase. This is the retirement plan from LIC of India.

Don’t Miss LIC Launch a New Plan Endowment Plus Table no 835

LIC Jeevan Akshay VI Immediate Annuity Plan online

In this article we will discuss more on LIC Jeevan Akshay VI Review, how to calculate the retirement pension amount, key features and more information. One can choose from various annuity options while buying LIC Jeevan Akshay 6 policy and accordingly pension amount will be credited to bank account.

Want to calculate lic jeevan akshay policy Premium amount without wasting much time? Then use lic jeevan akshay 6 premium calculator directly visiting to LIC of India website and find out how much premium you have to pay or how much pension you are going to get by using lic jeevan akshay 6 plan calculator. 

Terms and Eligibility Conditions of LIC Jeevan Akshay 6 Policy

Check out the basic eligibility conditions of lic jeevan akshay pension plan from LIC of India.

Entry Age
  • Minimum- 30 years(last birthday)
  • Maximum-85 years(last birthday)
Minimum Purchase Price
  • Rs.1,00,000 (Offline mode)
  • Rs.1,50,000 (Online mode)
Maximum Purchase Price
  • No limit
Premium paying mode
  • Single premium
Mode of getting annuity (pension)
  • Monthly, Quarterly, Half Yearly, Yearly
Payment of Annuity or Pension to pensioner or policyholder
  • Starts Immediately
Minimum annuity installment for Rs.1,00,000 purchase price
  • Rs.500 per month
  • Rs.1000 per quarter
  • Rs.2000 per half-year
  • Rs.3000 per year
Annuity guaranteed for certain periods
  • 5,10,15 and 20 years and as long as annuitant is alive
Other features
  • No medical examination is required
  • Age proof necessary
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Different Pension Options of LIC Jeevan Akshay 6 Plan

Generally if you visit LIC India website you can find out the annuity chart like below where different amounts are listed based on entry age of insurer for a lump-sum investment of Rs 1 lakh. But the types are not mentioned clearly here. 

If you try to buy the policy online via LIC Portal you will get these 7 option to choose from based on your current situation and requirement. According to that your annuity amount will be determined.

  • Annuity during the life time of the annuitant (without any guaranteed period)
  • Annuity for a guaranteed term of years and during subsequent lifetime of the annuitant
  • Annuity during the life time of the annuitant with return of purchase price on death of the annuitant
  • Life annuity with annuities increasing at 3% per annum simple
  • Joint life and last survival annuity with reducing to 50% payable to spouse on death of annuitant
  • Joint life and last survival annuity with 100% payable to spouse on death of annuitant
  • Joint-life and 100% of annuity to spouse on death of the annuitant with return of purchase price on death of last survivor.
Also Read  LIC Jeevan Lakshya Plan no 833

Benefits of LIC Jeevan Akshay 6 Plan and Other features

LIC Jeevan Akshay VI policy is a pension plan, so the major benefit is to provide pension on maturity. But as this is an insurance policy as well, you will get death benefit as well.

Death Benefit: In case of your death during the policy tenure, your family will get the pension amount as per the annuity selected.

Maturity Benefit: There is no maturity benefit under this LIC Jeevan Akshay 6 plan.

Income Tax Benefit:Income tax rules are similar for other LIC policies. Here the pension amount received will be taxable.

Loan facility is not available under this plan.

As Jeevan Akshay 6 is an annuity plan, there is no Surrender value or Paid up value concept for this policy.

LIC Jeevan Akshay 6 Policy Rebates

In case you buy LIC Jeevan Akshay VI plan online, then you will get very good rebate on premium payment. You can also get rebate if you opt for purchase price of Rs 2,50,000 or more.

Also Read  LIC Bima Bachat Money Back Plan Review - Discontinued
Mode of AnnuityPurchase price (in Rs.)

2,50,000   to

4,99,999

5,00,000 to

7,49,999

7,50,000   to

9,99,999

10,00,000  &

above

Yearly3.754.004.30

4.35

Half Yearly3.453.704.00

4.05

Quarterly3.353.603.90

3.95

Monthly2.903.503.80

3.90

LIC Jeevan Akshay VI Return Calculation

Let’s say Sharmaji a 32 year old male has invested Rs 10 lakh under this policy. Now he has to pay approx Rs 30,900 as Service tax. So total amount invested = 10,00,000 + 30,9000 = 10,30,900/-.

As per LIC Jeevan Akshay VI he can earn a monthly pension of Rs 6014.00 or a yearly pension of 75,050.00. So let’s calculate the return by % here.

Considering the Monthly pension = ( 6014 X 12 ) / 10,30,900 = 7%
Considering the Yearly pension = 75,050.00 / 10,30,900 = 7.2%

How to buy LIC Jeevan Akshay 6 pension plan online

LIC Jeevan Akshay VI Plan table no 810 is one of the online policy launched by LIC of India. You can simply visit to LIC India Online website and provide necessary details and buy the policy online.

Don’t forget to provide the below documents while sending the printed form submitted online.

Application form/Proposal form along with photo
Address proof
Age proof
Medical reports(if required)

To know more about Lic jeevan akshay 6 calculator and Lic jeevan akshay VI policy details, visit lic website.

 

8 COMMENTS

  1. Hi,
    I am looking for right suggestion regarding pension plan. I am 44 and can invest upto 50 yrs. I am looking for assured pension plan from the age of 55

  2. sir mere ki agge 7year or main uski jivan shikhar policy karwana chahta hoo to kitne Rs or preimiam ki t tha year or kist ki hogi 15year ke baad benifit hoga

  3. Hi This is Ayub Khan from Kuwait I am Indian I want to know about jeevan akshay 6 my age is 41 I want to take this policy for 20 year’s and I want pension Rs.20,000/-then how much I have to pay yearly premium. Please reply me.Thanks

  4. I HAVE ICICI PRUDENTIAL LIFE INSURANCE POLICY LIFETIME SUPER PENSION.
    I HAVE PAID TOTAL PREMIUM AMOUNT Rs 300000/- MATURITY DATE IS 13/03/2017.
    I MAY GET ABOUT RS 750000/-AT THE TIME OF MATURITY.
    1/3RD AMOUNT WILL BE GIVEN TO ACCOUNT HOLDER IMMMIDIATELY AND REMAINING 2/3RD AMOUNT WILL BE INVESTED IN ANNUITY.
    MY DOB IS 05/11/1942.I WANT TO KNOW WHICH IS BEST SCHEME FOR ME & WHICH COMPANY WILL BE BETTER
    SUCH AS NPS, LIC,ICICI,HDFC, AVIVA INDIA LTD., ETC.
    PLEASE INFORM HOW MUCH APPROXIMATE AMOUNT I WILL GET AS A PENSION AT PRSENT MARKET RATE This my reminder Please reply
    THANKING YOU
    REGARDS,
    PARMANAND JETHANI

  5. I AM A RETIRED EMPLOYEE FROM H.A.L. WE DO NOT GET ANY PENSION. I HAVE SOME 20 LAKHS INVESTED IN SYNDICATE BAK AT10.5% METURING SHORTLY.. I AM TOLD YOUR jEEVAN AKSHY 6 SCHEME CAN GIVE THAT RETURN. KINDLY CONFIRM OR SUGGEST ANY OTHER SCHEME WHICH CAN GIVE AROUND 10%.

    • Hi Sir,

      I think you should look for plans like monthly income options, instead of investment with 5-10 years horizon. Do you have health insurance?
      I am not sure any product in current market will return 10% return after income tax deductions.

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