LIC Jeevan Akshay VII
An immediate annuity plan from LIC of India with multiple annuity options.
Overview
LIC Jeevan Akshay VII is an immediate annuity plan from LIC of India where the annuity begins after a single premium payment, with several annuity options described in the official brochure.
Key features
- Annuity income as per the option chosen
- Annuity rates declared by LIC at the time of purchase
- Options and conditions defined in the official brochure
Eligibility
- Entry age, maturity age, minimum and maximum sum assured and policy term limits are prescribed by LIC in the official brochure
- Eligibility is subject to underwriting and the insurer's current rules
- Speak to the advisor for a personalised eligibility check
Benefits
- Death benefit as defined in the official policy conditions
- Maturity or survival benefit where applicable to this plan type
- Tax treatment depends on prevailing law and individual circumstances — confirm independently
Policy term & premium payment
- Policy term
- Lifetime annuity as per the option chosen
- Premium frequency
- Single premium
Who may consider this plan
People at or near retirement who want to convert a lump sum into a regular annuity.
Important notes
Annuity rates and options are declared by LIC and must be verified from official sources.
This page describes the plan type as published by LIC of India and does not reproduce or estimate premium rates, bonus rates, returns or guarantees. Refer to the official LIC brochure and policy document before purchase. Official source: LIC of India. Verification against the official brochure is carried out by the advisor at the time of enquiry.