LIC Policy: There is no shortage of money while working because salary keeps coming every month. However, after retirement the salary stops coming. Then there is a shortage of money. Everyone worries about managing expenses after retirement. If you also want a fixed pension for expenses after retirement, then you can invest in LIC’s Jeevan Akshay Policy. You have to invest once in this policy and then you will keep getting monthly pension. Let us know all the important things about this policy.
Investment age limit is 30 years to 85 years
The investment age limit in LIC Jeevan Akshay Policy is 30 years to 85 years. That is, any person of this age can invest. Let us tell you that this policy is a single premium non-linked non-participating and personal annuity plan. That is, once you deposit the money, the income is fixed for life. The amount of pension in this depends on the investment made by you.
You can buy this policy in single or joint form. You can get pension on your investment on monthly, quarterly, half-yearly or yearly basis.
Pension of Rs 12 thousand on investment of 1 lakh
By investing ₹ 1 lakh in this policy, you will get a pension of ₹ 12,000. At the same time, if you want a pension of ₹ 20,000 every month, then you will have to invest a lump sum amount of ₹ 40,72,000 in LIC Jeevan Akshay Policy.
Why buying a policy is beneficial
Once the premium is paid, you start receiving money every month. This is good for those who have retired and need regular income. In this, you keep getting income for life, no matter how many years you live. This ensures that your savings will not end and you will always get money. Your investment is not affected by market fluctuations. You can choose different payment options according to your need, such as income for life or for both spouses.
(Disclaimer: This is not an investment advice but just an information. Consult your financial advisors before taking any decision related to money.)
