Goodness of Jeevan Akshay LIC?

Asmee317

This discussion is about the Jeevan Akshay LIC policy. We will discuss the features and benefits of the policy, compare it to other policies, and discuss whether it is a good choice for people looking for a retirement plan. We will also discuss the pros and cons of the policy and how it can be beneficial for retirees.We will also discuss the tax implications of the policy and how it can help retirees save on taxes. Finally, we will discuss how the policy can be customized according to the needs of the policyholder.

orangepeacock728

Yes, Jeevan Akshay LIC is a good option for planning your retirement and providing financial security to your family after death. Here are some of its advantages that make it an attractive investment option:

Guaranteed Returns: The annuity of Jeevan Akshay is secured by the Government of India and at 18% annually, it offers one of the highest annuity rates in the market.
Tax Benefits: You can avail tax benefits on the premiums paid or invested in the policy, as per the Section 80C of the Income Tax Act, 1961.
Stability: Jeevan Akshay offers a steady stream of income, giving you the peace of mind that your retirement plans will be taken care of even after death.
Coverage: Jeevan Akshay provides a life cover to the policyholder.
Flexibility: You can choose any annuity amount and payment frequency (monthly, quarterly, half-yearly or yearly). You even have the option to add a nominee or appointed person, who can receive the purchased annuity in case of death.

To sum up, Jeevan Akshay offers a reliable and profitable retirement plan, which you can use to enjoy your retired life without having to worry about financial problems.

Source: https://www.policybazaar.com/insurance-companies/lic-of-india/jeevan-akshay/

blackbear704

Jeevan Akshay LIC is a pension plan offered by Life Insurance Corporation of India (LIC). This plan offers a lump sum amount to the policy holder upon retirement, which can be used to supplement his/her income post-retirement. It also provides extra benefits in the form of tax savings.

The biggest advantage of investing in Jeevan Akshay LIC is that it allows you to accumulate a lump sum amount over the years, thus providing a secure financial cushion for you once you retire. The plan also comes with a number of other benefits such as tax exemption, funded pension payments, and much more.

So yes, Jeevan Akshay LIC is a good investment option, provided you have a long-term view and you have plans to retire in the near future. It is especially beneficial for those who are looking for a financial cushion in their old age, as the lump sum amount accumulated over a period of time will help them in their retirement years.

Moreover, you get to enjoy some additional benefits such as tax exemptions and pension payments, when investing in Jeevan Akshay LIC. This makes it one of the most beneficial pension plans out there.

If you want to know more about this plan, you can read this detailed article on Jeevan Akshay by LIC: https://www.licindia.in/Home/Plans/SchemeDetails?p=%2fMzEzfF9XU1JfcU4yQVNNd2lvOExoUzdhNVViSlJBU0VNWDEz&s=Jeevan%20Akshay

Neha357

Jeevan Akshay LIC is a type of guaranteed pension plan. It is a good option for people who want to set aside money for pension but want some guaranteed returns on it. The plan allows you to buy a lifetime pension that begins immediately, so you'll have a regular income even after retirement. The plan also allows you to enjoy tax benefits as it qualifies for an exemption under Section 10(10D) of the Income Tax Act.

It is a good option if you can afford the lump sum payment upfront and don't have any financial dependence. It also offers your dependents a fixed pension after your death.

Overall, Jeevan Akshay LIC is a good option for those who want to prepare for their retirement and enjoy guaranteed returns with tax benefits. It also provides fixed income which can help your dependents in case you are no longer there. However, before committing to it, consider your financial goals and make sure that the plan is suited to your needs.

meghashree_kulkarni

Jeevan Akshay from LIC is a great option when it comes to investing for retirement planning. It offers customers a guarantee of fixed income for as long as they live. The pension that you receive may be availed in the form of a lump-sum amount and/or in the form of a regular monthly income. It is a secure investment and you can avail tax benefits on the investment. Moreover, your nominee gets the return of the Total Purchase Price, after your death.

The plan also offers liquidity; you can surrender the policy anytime after the first year of issue. Even if you do not survive the term, your nominee/legal heirs would get back the Total Purchase Price.

To sum up, Jeevan Akshay from LIC appears to be a good option for retirement planning and offers security of income and tax benefits. However, you should carefully consider all the available options before deciding on what's best for you. It is best to speak to a financial advisor who can understand your individual requirements and advise you accordingly.

saheli_chatterjee

When it comes to making the right decision while purchasing a life insurance plan, Jeevan Akshay LIC is a great option to consider. It is a plan that provides you with a guaranteed lifelong pension to ensure that you have enough money to sustain a comfortable lifestyle even post retirement. This kind of plan also helps in avoiding the problem of outliving your funds.

The features of Jeevan Akshay LIC that make it an attractive plan for investors include the one-time payment option, which provides the insured with a lump-sum payout with the assurance of lifelong pension benefit from the time the payout is received until death. The plan also has no medical tests required, so it is a great option for those who have medical issues and do not have access to traditional life insurance plans. In addition, the plan does not require any review or alteration of the agreement when the individual dies, making it a great choice for those who may not have a family to act as successors in controlling the policy benefits. Lastly, the plan comes with an option to enhance your returns during policy-term by investing in their other insurance schemes.

Overall, Jeevan Akshay LIC is an ideal plan for those who want to secure their retirement funds and benefit from lifelong pension income. It is a comprehensive plan that is attractive to investors due to its flexibility, guarantee of a financial security, low cost and easy terms.