Invest once, get monthly pension of Rs 20,000

LIC Jeevan Akshay Pension plan: The minimum investment in this plan is Rs 1 lakh. (File)

Life Insurance Corporation of India is the market leader when it comes to insurance in India. The government owned company has more market share than all the other companies combined. One of the major reasons for this is the trust they have built among the masses. LIC policies not only provide insurance cover, they also give hefty returns. LIC’s Jeevan Akshay is one of such policies. It is one of the best LIC policies. One can earn upto Rs 20,000 every month by paying a lump sum amount of money. 

There are many policies of the company. Some are purely life cover policies. LIC Jeevan Akshay, however, ensures a monthly pension against a lump sum deposited with the company. 

How will LIC Jeevan Akshay give the investor Rs 20000 per month?

For any person to earn Rs 20,000 per month, she must invest Rs 40 lakh 72 thousand with the Life Insurance Corporation. 

If the investor pays Rs 6 lakh 10 thousand and 800, the sum assured under LIC Jeevan Akshay will be Rs 6 lakh. Under this, you will be paid Rs 76,650 as annual pension. This means your half yearly pension will be Rs 37000.

A pensioner gets the pension throughout her life.

The minimum pension allowed is Rs 12000 per year.

Other benefits of the plan include the facility to avail loan. Policy holders can secure a loan against the policy 90 days after buying it. 

The minimum investment in this plan is Rs 1 lakh.

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