India Pension Plan

hii sir I wants to know the details of the pension plans of the life insurance Corporation of India?

[Raman Vij]

Life Insurance Corporation is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of ₹1560482 crore.


As you asking for the pension plans of the life insurance Corporation of India the details of the pension plans are as follow :

Pension Palns
JEEVAN AKSHAY-VI
LIC'S NEW JEEVAN NIDHI


Options Available:

The following options are available under the plan

Type of Annuity:

Annuity payable for life at a uniform rate.

Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.

Annuity for life with return of purchase price on death of the annuitant.

Annuity payable for life increasing at a simple rate of 3% p.a.

Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.


Mode:

Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals. You may opt any mode of payment of Annuity..


Salient features:

Premium is to be paid in a lump sum.

Minimum purchase price :

Rs.100,000/- for all distribution channels except online.

Rs.150,000/- for on line sale.

No medical examination is required under the plan.
No maximum limits for purchase price, annuity etc.

Minimum allowed age at entry is 30 years (completed) and Maximum allowed age at entry is 85 years (completed).

Age proof necessary.


Annuity Rate:

Amount of annuity payable at yearly intervals which can be purchased for Rs. 1 lakh under different options is as under:


for more details you may contact to the nearest branch of LIC