"Spending a whole day looking for insurance is fun," said nobody, EVER!

LIC Pension Plans

 5.0 / 5.0   by 1 users
Used this product? Write a review >>

Plan Benefits

Payment Options

Policy Coverage

Customer Service

Every person aims at saving enough and living a financially secured retirement life. LIC offers Individual Pension plans to ensure financial stability in your old age.

LIC offers the following Pension Plans:

  1. Jeevan Akshay-VI:

    This is an immediate annuity plan. You can pay a lump sum and purchase this plan. You will get annuity payout throughout your lifetime. You have various options for the type and mode of annuity payments.

    Features and Benefits of Jeevan Akshay-VI

    The features and benefits of this plan are as follows:

    1. Annuity is paid at a uniform rate.
    2. Minimum entry age is 30 years and the maximum is 85 years.
    3. The annuity is payable for 5, 10, 15 or 20 years and thereafter as long as the annuitant is alive.
    4. Return of purchase price on annuitant’s death.
    5. Interest rate is 3% per annum.
    6. You get a provision for either 50% or 100% of annuity which will be payable to spouse during the lifetime or on the annuitant’s death.
    7. Annuity may be paid on a monthly, quarterly, half-yearly or on a yearly basis.
    8. One time premium payment.
  2. LIC's New Jeevan Nidhi:

    This is a conventional plan with profits pension that offers protection and helps you to save. Death cover is offered during the deferment period and annuity is paid on survival till the date of vesting.

    Features and Benefits of LIC's New Jeevan Nidhi

    The features and benefits of this plan are as follows:

    1. You get benefits on vesting, guaranteed additions, simple reversionary bonus and final additional bonus.
    2. Death benefit is offered.
    3. You will be able to participate in profits from the 6th policy year.
    4. Final additional bonus is declared when you claim on death or on vesting.
    5. You can also opt for the LIC’s Accidental Death and Disability Benefit rider.

This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

LIC Pension Plans Reviews

Page 1 of 1
  • LIC Life Insurance
    "So good..."
    0.5 5.0/5 "Blown Away!"
    Vitally the LIC is reliable and we can believe their services. In my one plan they mingled five different things like life insurance, pension and etc., Per annum the payment is 50 thousand. Agents are approaching people and they are sending mails and keep updating. Also they are reminding about the payment date.
    Was this review helpful? 0
    , chennai
    Reviewed on Mar 08, 2016
Common Loader Icon
Page 1 of 1

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

This Page is BLOCKED as it is using Iframes.