New Delhi: Life Insurance Corporation of India (LIC), one of many trusted firm within the nation, is providing a ‘Jeevan Akshay’ coverage which ensures an everyday month-to-month pension for traders.
You can make investments on this coverage for your self or to your family members. The ‘Jeevan Akshay’ coverage is among the finest promoting coverage supplied by the state-owned insurance coverage firm. Under the scheme, policyholders must make investments a set amount once after which they will sit again and luxuriate in pensions every month.
You can go for the pension on a yearly, half-yearly, quarterly and month-to-month foundation below the scheme. Moreover, two family members can turn into joint traders within the coverage that’s open to all Indians aged 30 to 85.
However, one of many main setbacks of the coverage is that there isn’t a mortgage facility obtainable below the Jeevan Akshay plan.
One has to take a position no less than Rs 1 lakh to avail the advantages of the scheme. However, there’s no cap on the utmost amount you’ll be able to spend money on the coverage. For occasion, when you go for the Rs 9,00,000 sum insured within the coverage then you definately’ll have to take a position a complete of Rs 9,16,200. You may avail a 1% tax rebate on the scheme.
If you go for this coverage, then you definately’ll obtain a lifetime pension of Rs 6,859 on a month-to-month foundation or Rs 20745 on a quarterly foundation or Rs 42008 on a half-yearly foundation or Rs 86,265 on an annual foundation.
