Pension Plans in India – Lic Jeevan Akshay 6 Pension Plan, National Pension Scheme

Pension Plans in India – Lic Jeevan Akshay 6 Pension Plan, National Pension Scheme: Lic Jeevan Akshay 6 Pension Plan is organized by the oldest insurance company LIC ( Life Insurance Corporation) which provides insurance and pension plan to guarantee Pension For the Life of a citizen in India. A rebate of 1% by way of an increase in the annuity rate shall also be available. The Date of Withdrawal is 01.12.2017 and the Citizen of India who is in the age group of 30 years- 85 years can apply under the Lic Jeevan Akshay 6 Pension Plan. To know more about Lic Jeevan Akshay 6 Pension go through the given below article.

Lic Jeevan Akshay 6 Pension Plan

Highlights on Lic Jeevan Akshay 6 Pension Plan – Pension Plans in India

Title	Pension Plans in India – Lic Jeevan Akshay 6 Pension Plan, National Pension Scheme
Name of the LIC Pension	LIC’s Jeevan Akshay_VI
Managed by	Life Insurance Corporation of India (LIC)
Department	Insurance Company
Motive	to guaranteed Pension For Life For senior citizen
Date of Withdrawal	01.12.2017
Minimum purchase price	Rs.100,000- Rs.150,000
Minimum allowed age	30 years-85 years
Annuity paid	monthly, quarterly, half yearly or yearly intervals
Official website	licindia.in

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NPS Account meaning in Tamil

Type of LIC Jeevan Akshay 6 Pension Plan (Annuity)

1. At a uniform rate, an annuity is payable for life
2. An annuity is payable for 5, 10, 15, or 20 years and thereafter as long as the annuitant is alive.
3. An annuity is also available for the return of the purchase price on the death of the annuitant.
4. At a simple rate of 3%, p.a. life is increasing in Annuity payable
5. Annuity for life with a provision of 50%  and 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
6. Annuity for life with a provision of 100% purchase price will be returned on the death of the last survivor.

Features of Lic Jeevan Akshay 6 Pension Plan

• The premium for LIC Jeevan Akshay 6 Pension Plan is to be paid in a lump sum.
• The minimum purchase price for LIC Jeevan Akshay 6 Pension Plan for all distribution channels except online is Rs.100,000/- and for online sales is Rs.150,000/-
• Under the plan LIC Jeevan Akshay 6 Pension no medical examination is required.
• No maximum limits for the purchase price, or annuity under the plan
• In the LIC Jeevan Akshay 6 Pension plan minimum allowed age for entry is 30 years (completed) and the Maximum allowed age at entry is 85 years (completed).
• Age proof in LIC Jeevan Akshay 6 Pension plan is necessary
• The annuity may be paid under the plan either at monthly, quarterly, half-yearly, or yearly intervals.
• You can opt for any mode of payment of LIC Jeevan Akshay 6 Pension Plan

What are the Pension Plans in India?

LIC’s Pension Plans are policies that talk to you individually and as citizens and give you the most suitable options and plan that can fit your requirement. There is a number of Pension Plans under the LIC company which are given below. Types of Pension Plans In Life Insurance Corporation of India (LIC) are

• Insurance Plan
• Health Plans
• Pension Plans
• Special Plans
• Unit Plans
• Micro Insurance Plans
• Withdrawn Plans

Pension Plan Numbers

Pension Name	Plan No.
“Pradhan Mantri Vaya Vandana Yojana “	856
LIC’s Jeevan Akshay – VII	857
LIC Jeevan Akshay 6 Pension Plan	189
LIC’s New Jeevan Shanti	858
LIC’s Saral Pension	862

NPS (National Pension Scheme)