New Delhi: LIC’s New Jeevan Akshay – VII is one such appealing Immediate Annuity plan that guarantees an income stream from the date of investment. A single payment the policyholder pays under this plan can provide them with a lifelong annuity, ensuring both sustenance and financial stability. This plan is designed to provide rapid returns, making it ideal for persons who are retired or nearing retirement and want a consistent source of income.
One of the most appealing aspects of LIC’s Jeevan Akshay-VII plan is its simplicity and efficacy. It has a single premium, and annuity payments begin immediately upon enrolment. This single payment option simplifies investment by eliminating the need for further administration or depositing extra money. Aside from that, LIC offers incentives to customers who pay greater premiums, making it more appealing to those who want to invest a larger sum.
Because the plan requires no medical checks, it is appealing to a wider range of individuals. The policyholder has 10 annuity alternatives to select from, depending on their requirements and preferences: life-only annuities, joint-and-survivor annuities, period-certain annuities, and others.
There are various reasons why instant annuities, such as LIC’s Jeevan Akshay- VII, are so appealing. They give a regular, guaranteed, and instantaneous revenue stream—typically shortly after the premium is paid. This is critical for retirees who need a consistent source of income. The plan also protects retirees from market swings by providing consistent annuity payments regardless of current economic conditions or interest rate changes. It avoids continuing investment choices made by the insurance company that manages the assets and ensures regular payouts.
Thus, the LIC Jeevan Akshay VII is the most straightforward, safe, and customisable retirement solution. The simplicity, guaranteed income, and protection from market volatility make this product one of the best for dealing with financial concerns in old age with the least amount of bother.
Discover LIC’s Jeevan Akshay – VII, the ideal Immediate Annuity plan offering lifelong income with a single premium payment. Enjoy guaranteed, stable returns and customizable options tailored to your retirement needs Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
