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LIC's Jackpot Scheme: Invest Once, Get Lifelong Pension!
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News18•03-10-2026, 12:04
LIC's Jackpot Scheme: Invest Once, Get Lifelong Pension!
- •LIC's 'Jeevan Akshay-VII' plan offers a steady income after retirement with a single investment.
- •This Immediate Annuity Plan starts pension payments right after the investment.
- •At age 60, investing 10 lakh rupees can yield up to Rs. 7,175 per month.
- •The 'joint life' option ensures your spouse continues to receive a pension after you.
- •Option J allows for the return of the investment amount after the last person passes away.
Key Questions Answered
If you invest 10 lakh rupees in Option A of LIC's Jeevan Akshay-VII plan at age 60, you will receive an annual annuity of 86,100 rupees, which amounts to 7,175 rupees per month.
LIC's Jeevan Akshay-VII is an Immediate Annuity Plan where annuity payments start immediately after a single investment is made. The annuity rate is fixed at the outset, and regular amounts are received throughout life based on the chosen option.
Yes, there is a joint life option where the pension can continue for the second person after your demise. Specifically, options H and I provide this facility, while option J also allows the original investment amount to be returned after the last person passes away.
