LIC’s Jeevan Akshay is a single premium policy and has to be purchased by paying a lumpsum amount at once. The annuity can be paid monthly, quarterly, biannually or annually as chosen.
This pension plan has 6 options to choose from. Once the individual chooses an option, it can't be changed during as the payout starts immediately with the plan.
| Minimum Entry Age | 30 years |
|---|---|
| Maximum Entry Age | 65 years |
| Minimum purchase price of annuity | Rs. 1,00,000 |
| Maximum purchase price of annuity | No limit |
| LIC Premium Payment modes | Annual, biannual, quarterly, monthly. |