Which LIC plan is closing?

Is Jeevan Akshay VI closed?

Reportedly, the Life Insurance Corporation of India (LIC) will stop selling one of its most popular annuity products, Jeevan Akshay VI, from December 1, 2017, and is expected to introduce a new version of the plan with revised rates soon.

Can I have 2 pension plans?

There's no restriction on the number of different pension schemes that you can belong to. However, there are limits on the total amounts that can be contributed across all schemes each year, if you're to receive tax relief on contributions.

What is deferment period in LIC?

Under the immediate option, the returns can be availed post payment of all the premiums, while under the deferred option, you can avail returns only after a limited time period. The minimum deferment period of the policy is one year, while the maximum deferment period of the policy is 20 years.

Is Jeevan Anand good policy?

LIC's New Jeevan Anand is a good life insurance plan for your family. It offers an attractive combination of savings and protection. The cover provided is available throughout the lifetime of the policy. In addition, this plan comes with a loan facility as well.

What is Jeevan Anand 149 plan?

Key Features of LIC Jeevan Anand – Plan 149

Jeevan Anand plan is a combination of an Endowment Assurance plan and a Whole Life plan. Maturity benefit includes Sum Assured + Accrued (Simple reversionary) Bonus + Final addition bonus (If any) and shall be available after the completion of the term.

Can LIC be closed online?

First keep in mind that as of now Surrendering LIC policy is not possible ONLINE. Also, you have to surrender the LIC policy at your servicing LIC branch ONLY. ... Also, keep in mind that you have to personally visit the branch and request for surrender of LIC policy.

When can we surrender LIC policy?

The policy can be surrendered after it has been in force for at least 3 full years. The Guaranteed Surrender value will be equal to 30% of the total amount of premiums paid excluding the premiums for the first year and all the extra premiums and premiums for accident benefit / term rider.

Can we close LIC policy?

A policyholder can surrender his/her policy only after the completion of 3 years, i.e. the policy has to have been in force for a period of 3 years, at least. The surrender value provided by LIC is essentially 30% of the premiums that have been paid so far.

How do I get a 50000 pension per month?

Your maturity amount will be roughly Rs 2 crore when you reach the age of 60. You will receive 50 percent of this, or around Rs 1 crore, in a single sum, with the remaining Rs 1 crore available as a monthly pension. If the annuity rate is 6% at the time, you will receive a monthly pension of around Rs 50,000.

Is SBI pension plan good?

The SBI Life Saral Pension Plan is an individual participating non-linked traditional pension plan which comes with Guaranteed Bones and Simple Reversionary Bonus. ... If you are looking for a good retirement plan with a regular income, this plan is a good investment.

What is a normal retirement age?

Age 65 has long been considered a typical retirement age, in part because of rules around Social Security benefits.

What is plan No 189 LIC?

It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant. Various options are available for the type and mode of payment of annuities.

What is LIC annuity plan?

An annuity plan, as its name suggests, offers you a regular income for life after you invest a lump sum. What happens with an annuity plan is that your life insurance company invests your money and pays back the returns that are generated from it as pay-out when you get to retire.

Which is the best pension plan in India?

How many years FD will double in LIC?

So it will take a little more than 14 years for one's investment to get doubled in LIC Housing Finance.