LIC PENSION PLAN – BEST INSURANCE POLICY

Hello people, if you are looking for a good LIC pension plan, then I will help you with this matter. Today, the plan which I am going to tell you about is the best pension plan of LIC that you can take at the time of retirement. The name of the plan is LIC Jeevan Akshay VI Plan No 189, it was launched on December 1, 2017.

Topics covered in this article:

1. What is the LIC Jeevan Akshay plan?
2. Features and benefits of the plan.
3. Taxation (rebate explain).
4. Lic Jeevan Akshay 7 plan option.
5. Annuity price.
6. Pension calculation, that is: (on 1, 5, 10, 20,50 lakhs, how much pension will create).
7. Who should invest?
8. Advantages or disadvantages.

What is the LIC Jeevan Akshay plan?

• It provides fixed income.
• Jeevan Akshay works on a one-time investment option.
• eligibility:- minimum investment 1 lakh offline or minimum investment 1.5 lakh for online(1%more
Annuity).
• taxation explains:
1. Tax benefits under 1961 act 80c (pension will be taxable under the slab of income).
2.Tax rebate on only investment( you can save up to 1,5 lakhs).

Lic Jeevan Akshay explains annuity/pension/income explains.

1st option: annuity for life.
• you will receive a fixed pension until your death.

2nd option: annuity payable for guaranteed 5, 10, 15, 20 years.
• fixed pension form open date till choose date.
• your family will receive a pension for 4 years.

3rd option: an increasing annuity.
• your annuity will increase by 3 % pa.

4th option: annuity for life with purchase price on death.
• after death, your nominee will get all purchase money.

5th option: annuity of life with a provision of 50% of the annuity.
• after your death your spouse will get 50%pension.

6th option: annuity of life with a provision of 100% of the annuity.
• after your death your spouse will get 100% of your pension.

7th option: annuity of life with a provision for 100% of the annuity.
• after your death your spouse will get 100% of your pension.
• nominee will get all the purchase money.
• his/her spouse will get a 100% of his/her pension.

Now, moving on to the other topic, which is the calculation of annuity, which everyone should know before
Investing and also we will be discussing the advantage and disadvantages of this policy.

Calculation of annuity annually:

Investments        Annuity

1 lakh              6490 yearly
5 lakh              34450 yearly
10 lakh            69250 yearly
20 lakh            138500 yearly
30 lakh            207750 yearly
40 lakh            277000 yearly
50 lakh           346250 yearly

Purchase according to your comfort to understand the pension plans:

Why you should invest?
• if you don’t have any pension plan then you should invest in this plan as it provides the best possible
Returns.
• if you have bulk money.
• best returns LIC policy.

Its advantages(pros):

• fix pension (guaranteed returns).
• no limit to buy LIC Jeevan Akshay policy.
• tax rebate under 80c.

Its disadvantages(Cons):

• return is very low as another pension planner investment provides.
• tax rebate is only on 1.5 lakh investment, not only on return.

• your pension will county your annual income.
• you can’t change your annuity or pension plans

I hope, you lovely people got all the needed information related best Lic pension plan, and if you’re still in doubt then you can read our tips to consider before buying a LIC policy. Please, make sure to share this article with your family and friends.

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