LIC Jeevan Akshay: Life Insurance Corporation of India (LIC) has been the primary investment choice of most people in India. This state-owned company has a larger market share than other insurance companies. Taking out policies from LIC provides policyholders with a certain fixed income. Some of the policies offered by LIC are life insurance and pension plans, which like most plans create a corpus for retirement for the policyholders.
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Currently LIC’s Jeevan Akshay plan is different from other policies. You only need to invest once in the Jeevan Akshay scheme and you will get a monthly pension of up to Rs.20,000. This way you will not have any pressure to pay monthly installments. In this scheme, the pension can be drawn monthly, quarterly or annually in the name of the policyholder’s choice. Anyone between the age of minimum 30 years to maximum 85 years can avail this policy online or offline.
In Jeevan Akshay scheme an individual can spend a minimum of Rs. 1 lakh as premium and take out the policy. In this scheme the minimum pension for the policyholder is Rs. 12,000 and the facility of availing loan after 90 days of policy purchase. It has been said that those who want to get a monthly pension of up to Rs.20,000 will have to pay a total of Rs.40 lakhs and 72 thousand in this scheme.
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