Who it suits
Retirees who want income from the very next period.
LIC plans / Pension Plans
Pension Plans
New Plan no. 857
LIC’s Jeevan Akshay – VII
Single premium · Immediate annuity
Pay a lump sum and start receiving pension straight away, with 10 annuity options.
30 – 85 yearsEntry age
Pension for life (depending on the option)Policy term
Single premiumPremium paying term
Pension depends on purchase price and optionSum assured
Plan highlights
What this plan gives you
The main features in plain words. The official brochure is the final word on every figure.
- Immediate pension
- 10 annuity options
- Guaranteed for life
How it works
Your purchase price buys a pension that starts almost at once. You pick one of ten options, for example life annuity or annuity with return of purchase price.
Death benefit
Depends on the annuity option chosen.
Maturity benefit
None.
Survival / income benefit
Pension from the start.
Options and riders
10 annuity options
Step by step
How the plan runs
1
Start the planEntry age: 30 – 85 years. Sum assured: Pension depends on purchase price and option.2
Pay premiumsSingle premium3
Stay coveredPolicy term: Pension for life (depending on the option). Death benefit applies during the term.4
Income during the termPension from the start.5
Receive the benefitNone.At a glance
Eligibility and plan limits
A quick reference before you discuss a proposal. Underwriting and channel conditions apply.
| Plan detail | As per summary |
|---|---|
| Plan number | 857 |
| Category | Pension Plans |
| Plan type | Single premium · Immediate annuity |
| Entry age | 30 – 85 years |
| Policy term | Pension for life (depending on the option) |
| Premium paying term | Single premium |
| Sum assured | Pension depends on purchase price and option |
- Guaranteed rates from the start
Quick answers
Questions families ask
Who is this plan for?
Retirees who want income from the very next period.
What is the entry age?
30 – 85 years
What are the policy term and premium paying term?
Policy term: Pension for life (depending on the option). Premium paying term: Single premium.
What sum assured can I choose?
Pension depends on purchase price and option
What happens if the life assured dies during the term?
Depends on the annuity option chosen.
What do I receive at maturity?
None.
Does the plan pay anything during the term?
Pension from the start.
Are there options or riders?
10 annuity options
Will the amounts always be paid exactly as shown here?
This page is a summary. Actual benefits depend on the policy terms, premium payment status, the options chosen, underwriting and LIC’s official benefit illustration. The official brochure is the final word.
Want this explained in plain words?
Read LIC’s official brochure, compare the options, and I will help you choose what fits your family.
This page is a summary. Benefits, eligibility and premiums can change: the official LIC brochure for the plan is the final word, and I will confirm current terms for you.