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LIC

LIC's JEEVAN AKSHAY-VI (189) PLAN

UIN: 512N234V06

This is an Immediate Annuity plan with Guaranteed Returns throughout the life time of the annuitant.

Fixed Rate of Return throughout life Irrespective of market condition

Varied option for annuity to suit the particular need of the individuals

New option Annuity to spouse at same rate of Annuitant is a unique tool in volatile market scenario

In a falling interest regime the best economic solution for old age

Features and Benefits

It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant.

  • Premium is to be paid in a lump sum as Single Premium.
  • Minimum purchase price: Rs.100,000/- with no maximum limit.
  • No medical examination is required under the plan.
  • Minimum allowed age at entry is 30 years (completed) and Maximum allowed age at entry is 100 years (completed).Age upto 85 years all annuity options available. Age 86 & above only F option available.
  • Mode of Annuity: Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals. You may opt any mode of payment of Annuity.

Various options are available for the type and mode of payment of annuities.

  • Annuity payable for life at a uniform rate.
  • Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
  • Annuity for life with return of purchase price on death of the annuitant.
  • Annuity payable for life increasing at a simple rate of 3% p.a.
  • Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
  • Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
  • Annuity for life with a provision of 100% of the annuity payable to spouse during his/ her life time on death of annuitant. The purchase price will be retuned on the death of last survivor.

Annuity Rate:Indicative amount of annuity payable at yearly intervals which can be purchased for Rs. 1 lakh under different options is as under. However the actual annuity rate will be as prevailing at the time of purchase.

Age last birthday Yearly annuity amount under option
( i ) ( ii ) (15 years certain) ( iii ) (iv ) ( v ) ( vi ) (vii)
30 6490 6470 6150 4640 6380 6270 6130
40 6820 6770 6190 5010 6620 6430 6150
50 7470 7300 6240 5690 7090 6740 6190
60 8700 8170 6320 6930 7990 7390 6240
70 11410 9250 6440 9600 9910 8750 6340
80 17160 9880 6620 15190 13930 11720 6470

 

Surrender shall be allowed after completion of atleast one policy year only for Annuity Option – “Annuity with return of purchase price.

  • If the annuitant is diagnosed as suffering from any of the critical illnesses as mentioned in brochure.
  • If the annuitant is shifting to another country permanently as evidenced in their visa or citizenship documents. The surrender value payable shall depend on the age (last birthday) of the policyholder at the time of surrender of the policy. For all annuity options other than “Annuity with return of purchase price” surrender shall not be allowed in any case.

For more details, refer to nearest Axis bank branch

This Life Insurance Product Is Offered and Underwritten By Life Insurance Corporation of India. The Life Insurance contract is between the Proposer and Life Insurance Corporation of India.


For more details on the risk factors, Terms and Conditions, please read the sales brochure carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Insurance is the subject matter of solicitation.


The purchase of a Life Insurance Corporation of India product by Axis Bank's customer is purely on a voluntary basis. As Axis Bank is not in the business of insurance, there is no link either direct or indirect between the banking services offered by the bank to its customers and use of the insurance products.

ARN: LIC/Axis/Web Content/Jeevan Akshay/ Nov 2017

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