Pension Calculator for Jeevan Akshay Plan VI (189)

Jeevan Akshay plan is single premium immediate pension plan which provides pension for life time. Know More about this plan. To calculate Pension amount, please enter single deposit amount and other details and after selection of one pension option out 10 options click on calculate.

This plan is closed for sale, however similar pension (Annuity) plan Jeevan Shanti is available for purchase.

Terms of Service

Pension Options

One of following options may be selected at the time of buying plan and the same cannot be changed in the future.

Option How Pension will be Received What will happen in case of death
1 Pension payable for life at a uniform rate. Pension Stops.
2 Pension payable for 5 years guaranteed and thereafter as long as the Policy holder is alive. 1. Death during guaranteed period, pension is paid to nominee till end of the guaranteed period.

2. On death after guaranteed period, pension stops.
3 Pension payable for 10 years guaranteed and thereafter as long as the Policy holder is alive.
4 Pension payable for 15 years guaranteed and thereafter as long as the Policy holder is alive.
5 Pension payable for 20 years guaranteed and thereafter as long as the Policy holder is alive.
6 Pension for life with return of purchase price on death of the Policy holder. Pension stops and paid amount returned to nominee.
7 Pension payable for life increasing at a simple rate of 3% p.a. Pension stops.
8 Pension for life with a provision of 50% of the Pension payable to spouse during his/her lifetime on death of the Policy holder. 50% of pension amount to spouse (wife or husband) for life time.
9 Pension for life with a provision of 100% of the Pension payable to spouse during his/her lifetime on death of the Policy holder. 100% of pension amount to spouse (wife or husband) for life time.
10 Pension for life with a provision of 100% of the Pension payable to spouse during his/ her life time on death of Policy holder. The purchase price will be returned on the death of last survivor. 100% of pension amount to spouse (wife or husband) for life time and on death of spouse (wife or husband) purchased amount is returned to nominee.

Comments & Reviews (164)

Wrote :

28-09-2021 14:02:46

If I invest 1 Crore + GST then and I am opting Life at uniform rate pension, the above mentioned calculator shows 58583 monthly I will get as pension, my question is any TDS will be deducted from this amount? or any tax do I need to pay after getting this amount monthly?

Wrote :

05-10-2021 15:37:38

Monthly pension will be counted as income like pension or salary. LIC might not deduct TDS on submission of for 15G/15H but it will same as other sources of income. In simple terms, pension received from this plan is not tax free.

Write CommentReply

Wrote :

01-07-2020 09:29:19

Want to know the interest paid for 1000000.

Wrote :

01-07-2020 13:41:52

There are 10 options under this plan. You can calculate your interest or annuity by using above calculator and in case of any further assistance, please write in the the comment box.

Write CommentReply

Wrote :

11-05-2020 21:09:41

I brought a Policy In lIc my Lic policy Under a plan Plan name Jeevan Akshay 6 189 I invest a Amount like 750000 .The lic given neft 3981 ( Annuity for life ) But I cannot Under stand what percentage and what calculation is under taken .I help you plz .

Wrote :

12-05-2020 16:08:11

The annuity amount depends upon age and option, please follow below link. https://www.insurance21.in/faq/interest-rate-of-lic-jeevan-akshay-vi-plan.html

Write CommentReply

Wrote :

06-04-2020 15:58:25

TDS will be deducted from pension/annuity or receiver has to pay applicable Income tax?

Wrote :

07-04-2020 16:34:09

Generally, LIC Pays full pension and receiver has to assess his/her income and pay applicable income tax.

Write CommentReply

Wrote :

27-10-2019 16:36:28

Regards the policy jeevan akshaya 6 ,if insured and his wife died ,what will happen to investment after that who will get this money?

Wrote :

27-10-2019 23:57:28

What is your annuity option? The purchase price is returned to the nominee in options F and J only. In all other options, purchase price is not returned.

Write CommentReply

Wrote :

08-09-2019 14:34:42

Is the purchase price returnable to nominee on death of annuitant.

Wrote :

11-09-2019 00:58:50

Purchase price is returned to the nominee of the policy holder only in 6th(F) and 10th(J) option.

Write CommentReply

Wrote :

12-03-2019 18:59:10

Dear Sir, What advantage does this policy have over a fixed deposit? Except for options 6 and 10, in all other options, we will not even get the invested amount. In case if I invest 10 Lakhs in Fixed deposit, with the current rate of 6.8%, I will get more than 70,000 every year and my investment amount is also secure. While most options given by Jeevan Akshay neither yield me higher returns, not give me back the invested amount. Regards

Wrote :

12-03-2019 21:36:45

The most important feature is the amount of pension(Annuity rate) is guaranteed for life time.

Wrote :

18-03-2019 14:44:43

Sir, Will the annuity payment increase depends on the inflation or the rate be reviewed by LIC to meet.

Wrote :

18-03-2019 17:05:11

Annuity rate in Jeevan Akshay is fixed and guaranteed for life time. However, in 5th option (Option-E) there is a provision of 3% per annum increase in annuity (simple Interest). The annuity rate of the purchased plan is not revised during the course of the policy.

Write CommentReply

Wrote :

06-03-2019 03:50:02

Sir i am 38 years old , working in abroad i want get monthly 15000 pension after my age of 44. so how much i hv to invest n which plan suitable for me .can u assist.. thank you Sudhakar Abudhabi

Wrote :

06-03-2019 11:39:25

You may look Jeevan Shanti deferred annuity with 6 year deferment period. You will need to deposit approximately 20Lakh to ensure guaranteed pension of 15,000 per month from age 44.

Write CommentReply

Wrote :

20-02-2019 22:24:08

How is this plan beneficial if I invest 500000+9000gst I will get 35k annually which amounts to 7% roi. Where as if I keep the same 500000 amount in FD without any gst I am getting 43500 annually at 8.7% roi.

Wrote :

22-02-2019 10:44:29

Which FD is providing 8.7% Return? Please note, this plan guarantees the return for lifetime.

Write CommentReply

Wrote :

28-01-2019 02:56:04

Sir, I am an NRI 60 years old. Want to buy Jeevan Akshay by investing 60 lakhs as single premium. After my death the amount can be returned to spouse ?Any other single premium plan to get 50k monthly as pension and return the amount to the legal heirs.?

Wrote :

28-01-2019 22:23:43

In the 6th option (Option -F), you will get Rs. 32250 per month and purchase price will be returned to legal heirs in case of death. Jeevan shanti is similar plan but, the return will be less.

Write CommentReply

Wrote :

24-01-2019 08:37:27

I am 37 years old if I take this policy with option 10 so when this pension will start after 60 year or immediately from next month after the purchase time please advice.

Wrote :

24-01-2019 14:23:14

It will start from next month if you choose monthly mode. If you are looking for a plan which provides you pension from 57 year of age then you can plan LIC Jeevan Shanti (850) for your with 20 years deferred option.

Write CommentReply

Wrote :

26-12-2018 19:35:37

Hi Sir, I wanted to buy life insurance plan for my father. He just crossed 60 years.Is there any policy suitable for him. Which can help my mother from financially. Please help me out.

Wrote :

27-12-2018 14:29:10

You can kook for jeevan akshay, Jeevan Shanti, Vaya Vandana, these are good plans for a person avove 60 years of age.

Write CommentReply

Wrote :

21-12-2018 20:26:29

I am siva, age 39 which pension plan is suitable for me? I am planning to invest 10L for Jan-2019 pension start immediately which plan i have select please tell sir

Wrote :

21-12-2018 23:55:16

As you are 39 year old, you should plan your pension such that you receive pension after 55 year of age. So you can look for Jeevan Shanti plan with deferred option. In Jeevan Akshay plan, pension starts immediately. If you are planning Jeevan Akshay, then please note, Only 6th and 10th (F& J) options, have provision of returning of purchase price in case of death of the policy holder.

Write CommentReply

Wrote :

11-12-2018 14:50:43

Dear Sir/Madam, if a nominee purchase (invest) Rs.100,00,000 (Rs. 1 Crore) on 1.1.2019. When will pension start (date Please). Also can that person get pension monthly till death.

Wrote :

13-12-2018 12:44:45

First week of February-2019.

Write CommentReply

Wrote :

13-11-2018 19:30:09

I purchased Rs 450000 jeevan akshya pension plan VI (2)for 10 years. Now i am getting Rs3000 per month. Shall I get back my purchased price after 10 years?

Wrote :

14-11-2018 09:03:16

No, in this annuity option, purchase price is not returnable. Here 10 years means, irrespective of death in first 10 years, either you or your nominee will get pension and after 10 years, you will keep getting this pension as long as your are alive.

Write CommentReply

Wrote :

12-11-2018 15:27:42

which lic pension plan is suitable for me? age 44 will not be getting pension after retirement. how much should i invest today to get pension after 10 years? after my death will my nominee get the pension

Wrote :

14-11-2018 22:16:28

You can plan Jeevan Shanti for yourself. Please visit above link and calculate it yourself.

Write CommentReply

Wrote :

21-10-2018 22:07:04

Age 42 want a pension plan, which option should be taken for investment of RS.400000/- ( immediate or Deferred) so that best suited option should be selected

Wrote :

22-10-2018 13:01:47

Deferred annuity option is available in Jeevan Shanti, please use Jeevan Shanti Pension Calculator.

Write CommentReply

Wrote :

16-10-2018 17:42:54

If one were to take a 20 year plan with no return of capital - then after death of the insurer does the pension continue for the spouse and if the spouse also dies within this 20 year period, does the pension then continue to the nominee for the remainder of the 20 years?

Wrote :

17-10-2018 07:59:49

No, in 20 year guaranteed annuity option, pension is only for policy holder i.e. no pension for spouse or nominee.

Write CommentReply

Wrote :

24-08-2018 03:15:13

Dear Sir please let us know if a single parent select option no. 6 can he or she nominate child or grand child as nominee.

Wrote :

28-08-2018 22:57:28

Yes, she can nominate anyone.

Write CommentReply

Wrote :

18-08-2018 12:23:19

please explain, how much percentage of tax will be deduction and when it will be deducted, after deduction how much i can get in potion no.10 with policy sum 5000000 Rs.

Wrote :

18-08-2018 20:29:01

It can be understood like this, suppose the purchase price 50,00,000, then you need to pay GST @ 1.5% which comes to 75,000, so total amount of purchase will be 50,75,000 and return amount will be 50,00,000.

Write CommentReply

Wrote :

15-08-2018 22:02:22

What is the interest rate you are offering?

Wrote :

17-08-2018 18:40:21

We( this site) are not offering any interest, it is just a blog to help customers. For pension rates, please use above calculator.

Write CommentReply

Wrote :

24-07-2018 09:51:38

If I choose for 10yrs plan for pension then after 10yrs would I receive or after my death would my wife recieve or if my wife is the nominee would she recovers all the invested money back.

Wrote :

24-07-2018 14:22:36

In case of 10 years guaranteed pension option, pension will be available for 10 years irrespective of policy holder's survival, i.e. first 10 years, he will receive pension himself if he survives or his nominee will get if he does not. After 10 years, pension will be available ONLY to policyholder as long as he survives. Purchase price is not returned in this option.

Write CommentReply

Wrote :

19-07-2018 09:12:51

I just want to know if i don’t have kids so to whom may I give nominee,if their any possibility to change the nominee ? I talking about number 10 potion...

Wrote :

20-07-2018 13:23:08

You may assign nomination to anybody and it is modifiable in future during policy term.

Write CommentReply

Wrote :

13-07-2018 23:57:00

Wheather benefit under Jiveevan sashay VI is taxable or not

Wrote :

14-07-2018 21:21:25

It will be taxable.

Write CommentReply

Wrote :

13-07-2018 12:12:18

[7] Pension payable for life increasing at a simple rate of 3% p.a What happens to principal amount.

Wrote :

13-07-2018 12:26:08

It will not be returned in case policy holder's death.

Write CommentReply

Wrote :

12-07-2018 03:41:06

Option no 10 plz details suppose after my death ..my wife pension started or not....plz details

Wrote :

13-07-2018 12:28:26

Yes, After death of policy holder, pension will be available to policy holder's spouse.

Write CommentReply

Wrote :

27-04-2018 19:17:42

I am not complaining but the interest rate is 3% under option 7 n while calculating its showing 5.04 or more depending upon age what's the actual rate of int. 3% or 5 n above.

Wrote :

27-04-2018 23:50:19

In option 7, pension increases by 3% every year, for example if your pension is 100 Rupees in 2018, then it will Rs 103 and Rs 106 in 2019 and 2020 respectively.

Write CommentReply

Wrote :

26-04-2018 22:33:04

Sir, under option 7 at present calculator works out to 5.04% at age 30 n at age 35 it gives 5.20% is it for the 1st yr or life time or is there any error

Wrote :

27-04-2018 11:32:56

Calculator works fine, as the age increases pension increases.

Write CommentReply

Wrote :

21-04-2018 05:20:23

My only Q- which option should I prefer after the death pension would be continued to nominees OR returned all amt to Nominee?

Wrote :

21-04-2018 11:54:59

Pension does not continue to nominee but in option 10 it continues to spouse (only to wife or husband not son or daughter) and purchase price is returned to nominee.

Write CommentReply

Wrote :

13-03-2018 13:10:28

Sir, in Jeevan Akshay Plan VI (189) option# 6, Suppose husband is policy holder & wife is nominee, according to policy wife will get purchase price husbands death, my enquiry is : If wife (nominee) death happens before husband, what next. who will get purchase price after husbands death. Please explain.

Wrote :

13-03-2018 13:31:33

In this case, purchase price shall be credited to legal heir of policy holder.

Write CommentReply

Write Comment & Reviews

Related Links
More Links