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LIC scheme: Pay a single premium in THIS plan to get lifetime returns

New Delhi: Many Indians invest in various schemes to secure their retirement. Investment options such as EPF, Post Bank schemes and LIC schemes are quite popular among Indian investors saving for their tough times.

Many private companies and banks have also come up with multiple investment opportunities that will help you fulfil your retirement goals. In one scheme by state-owned insurer, Life Insurance Company (LIC), investors have to invest just once to enjoy returns for a lifetime.

Zee Media Bureau|

Updated:Jun 03, 2021, 03:59 PM IST

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Invest once to get lifetime returns

LIC has named the scheme Jeevan Akshay, which offers decent returns by investing just once. The returns will keep coming until the death of the beneficiary. Your investment in the Jeevan Akshay scheme starts earning a monthly or three-monthly or an annual income after a stipulated period of time after LIC has gained enough interest from your money.

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How to buy Jeevan Akshay policy?

You can buy the Jeevan Akshay policy online or offline if you’re an individual aged between 30 to 85 years. The minimum investment as a single premium in the scheme is Rs 1 lakh.

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Jeevan Akshay policy for joint investors

Joint investors can also invest in the Jeevan Akshay policy. However, each investor has to invest Rs 1 lakh individually. Once you invest the sum, you can sit back and relax, as you’ll start receiving your monthly pension soon. The more you invest the more pension you’ll get.

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Options in Jeevan Akshay policy

LIC offers over 10 available annuity options in the Jeevan Akshay policy. The policyholder gets a guaranteed annuity rate at the very beginning of taking the policy. The returns of investments vary slightly depending on the option you select.

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Jeevan Akshay policy returns

In this example, we’re considering that an investor deposited Rs 9,16,200 in one go in Jeevan Akshay policy. Roughly, the investment is approximately Rs 9 lakh. Investors will get Rs 6,859 per month as returns from their investment. Likewise, they’ll get Rs 86,265 annually or Rs 42,008 on a half-yearly basis or Rs 20,745 on a quarterly basis.