Investing in LIC’s policy is taken into account very safe. LIC offers customers endowment, pension, term, and lifetime plans. The government-run company doesn’t need to worry about losing money. So LIC has different policies but today we are getting to tell you about LIC’s Life Renewable Policy.
Through it, you’ll manage your pension monthly. This policy of LIC is often invested together. Jeevan Akshay is one of the foremost popular and best selling policies of LIC.
What is special about this LIC policy?
this is often a non-linked policy that has nothing to try to to with the stock exchange. Speaking of the peculiarities of the policy, the pension received through it’s taxed under 80C of the tax Act. A minimum of 1 lakh rupees is often invested. Also, there’s no limit to the utmost.
Pensions are often obtained on an annual, semi-annual, quarterly, and monthly basis. Any two members of a family can take a joint annuity in it. People between the ages of 30 to 85 can invest in it and therefore the minimum annual pension is fixed at Rs 12,000. It also provides a loan facility 3 months after the date of issue of the policy.
This policy offers 10 different options for getting a pension. you’ll choose Annuity Payable for all times at a consistent Rate choice to get pension immediately. If you decide on it, you’ll get a pension monthly immediately after the investment.