Planning for a guaranteed monthly pension for a lifetime?
Planning for a secure and guaranteed income during your retirement years is one of the most important financial decisions you can make. With rising inflation, increasing life expectancy, and the lack of social security in India, ensuring a fixed, lifelong income has become essential. For those looking for a hassle-free, assured pension with a Government guarantee, LIC’s immediate and deferred annuity plans—specifically LIC Jeevan Akshay-VII and LIC Jeevan Shanti—are among the most trusted options in the market.
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LIC Jeevan Akshay-VII – Immediate Annuity Plan
LIC Jeevan Akshay-VII is an immediate annuity plan, which means your pension begins immediately after you invest a lump sum amount. This plan is ideal for those who are nearing retirement or have already retired and want to start receiving regular monthly, quarterly, half-yearly, or yearly pension payments—much like a salary credit.
Key Features:
Immediate Pension: Starts from the next month after paying a one-time premium.
Multiple Options: Choose from several annuity options (single life, joint life, return of purchase price, etc.).
Guaranteed for Life: Once the pension amount is fixed, it is paid for life.
Government-Backed: LIC is a public sector company with the full trust and backing of the Government of India.
Flexible Payment Modes: Choose monthly, quarterly, half-yearly, or yearly pension payouts.
Example:
If you invest ₹50 lakhs in LIC Jeevan Akshay-VII at the age of 55 under the “Return of Purchase Price” option, you may receive immediate a pension of ₹27000/- per month onwards approx. for life, and your nominee will receive 50,00,000/- after your death.
LIC Jeevan Shanti – Deferred Pension Plan
LIC Jeevan Shanti is a deferred annuity plan, where the pension starts after a chosen deferment period ranging from 1 to 5 years. This is ideal for those who are still working and want to lock in today’s annuity rates for future guaranteed income.
The same way If you invest ₹50 lakhs in LIC Jeevan Shanti at the age of 55 under the “Return of Purchase Price” option, from age 60 you, may receive a monthly pension of around ₹35800/- per month approx. for life from the end of 5th year, and your nominee will receive 52,50,000/- after your death.
Key Features:
Deferred Start: Pension begins after 1 to 5 years, as chosen by you.
Single or Joint Life: Available on a single life or joint life basis.
Guaranteed Income: The annuity amount is fixed at the time of purchase and guaranteed for life.
Return of Purchase Price: Option to return the invested amount to nominee after death.
Loan Facility: After a certain period, loans can be availed on the plan.
Why Choose LIC Pension Plans?
Government Guarantee: Being from LIC, these plans come with sovereign assurance—your money is safe.
Lifetime Income: Whether you live 20 or 30 years post-retirement, you will continue to receive a fixed monthly income without any risk.
Peace of Mind for Family: In case of death, the entire investment is returned to the nominee, ensuring that your family remains financially secure.
Available for Everyone: These plans are available for Resident Indians, NRIs (Non-Resident Indians), and OCI (Overseas Citizens of India).
No Market Risk: Unlike mutual funds or stocks, these pension plans are free from market fluctuations.
Who Should Invest?
Retirees looking for immediate pension without any hassle.
NRIs or OCIs who want to invest in India with a guaranteed income source.
Employees close to retirement seeking to convert their retirement corpus into a regular income.
Anyone wanting to secure a risk-free lifelong income with return of capital to their heirs.
Planning for retirement should not be postponed. With LIC Jeevan Akshay-VII and LIC Jeevan Shanti, you can secure a guaranteed pension for life backed by the Government of India. Think of it as monthly salary after retirement, offering both financial independence and dignity in your golden years. Whether you are an Indian resident, NRI, or OCI, these plans offer stability, reliability, and peace of mind for you and your family.
For more details or to start your pension planning,