LIC Jeevan Akshay VI (6) Plan Premium and Maturity Calculator

How it works – You pay a Single Premium (also called the 'Purchase Price') to purchase an Annuity. LIC will then pay you regular amounts for the rest of your life. You could receive this regular payouts monthly, quarterly, half-yearly or annually. This regular payout amount is called an Annuity. You have 7 options to decide on the type and amount of annuity you want to receive.

Option 3 - Annuity with Return of Purchase Price on Death: pension is paid till the policyholder is alive and the “Purchase Price” or the amount initially invested is paid to the nominee as death benefit.
Example: The policyholder would receive an annual pension of Rs. 37,550 for the rest of his/her lifetime. Post the policyholder's death, the nominee will receive the Purchase Price of Rs. 5,00,000 and policy is terminated.

Option 4 - Increasing Annuity: pension is paid till the policyholder is alive at an increasing simple rate of 3% per annum.
Example: The policyholder would receive an annual pension of Rs. 39,650 for the first year. The annual payout will increase by Rs. 1,190 (3% of Rs. 39,650) every year for the rest of his/her lifetime.

Option 5 - Joint Life Last Survivor Annuity with 50% for Spouse: pension is paid till the policyholder is alive. On the death of the policyholder, 50% of the pension is payable to spouse for his/her lifetime. All benefits stop on death of the spouse also.
Example: The policyholder would receive an annual pension of Rs. 45,200 for the rest of his/her lifetime. After the death of the policyholder, the spouse will be paid Rs. 22,600 (50% of Rs. 45,200) for the rest of his/her life.

Option 6 - Joint Life Last Survivor Annuity with 100% for Spouse: pension is paid till the policyholder is alive. On the death of the life insured, 100% of the pension is payable to spouse for his/her lifetime. All benefits stop on death of the spouse also.
Example: The policyholder would receive an annual pension of Rs. 42,150 for the rest of his/her lifetime. After the death of the policyholder, the spouse will be paid Rs. 42,150 (100% of Rs. 42,150) for the rest of his/her life.

Option 7 - Joint Life Last Survivor with Return of Purchase Price: pension is paid till the policyholder is alive. On the death of the policyholder, 100% of the pension is payable to spouse for his/her lifetime. The purchase price is returned on death of the policyholder and the spouse.
Example: The policyholder would receive an annual pension of Rs. 37,050 for the rest of his/her lifetime. After the death of the policyholder, the spouse will be paid Rs. 37,050 (100% of Rs. 37,050) for the rest of his/her life. On death of the spouse, the Purchase Price of Rs. 5,00,000 will also be returned.
 

Depending the Payment mode selected you will receive your payments are follows: