You can get a fixed amount every month by depositing a lump sum amount in LIC’s Javeen Akshaya policy. There are 10 options available in this, you can choose it according to you.
Monthly income decreases after retirement, but expenses keep increasing day by day. In such a situation, investing in LIC’s Jeevan Akshay policy can be beneficial in order not to face the shortage of money in old age. In this, you can get good returns from long term investment. You can choose any one as per your convenience among the 10 different options present in it. The special thing about this scheme is that you will have to pay premium only once in this policy and with this you will arrange monthly pension according to you.
This policy of LIC is a better option for a secure future. It also has less risk. Jeevan Akshay Policy is a single premium non-linked non-participating and personal annuity plan. A minimum investment of Rs 1 lakh has to be made in this. There is no maximum investment limit in this policy. People between 35 and 85 years can take the policy. Although you will get 10 options in this policy, but the most popular option is Annuity payable for life at a uniform rate. By depositing a lump sum amount in it, one can get a fixed pension every month in lieu of it.
How to deal with profit
If you deposit one lakh rupees in this policy, then you will get an annual pension of 12,000 rupees. Similarly, if a person takes a sum assured of Rs 70,00,000 under the Annuity Payable for Lifetime option at the age of 45, then he will get a pension of Rs 36,429 per month. This benefit will be available till the life of the pensioner. The pension will stop after his death. Nominee can claim for the remaining amount.
If a person invests in it at the age of 65 years and opts for Sum Assured of 9,00,000 then he will have to pay a total lump sum premium of Rs 9,16,200 – thereafter, opting for pension option per month will get a lifetime pension of Rs 6326 per month .