LIC's Jeevan Akshay - VII - LIC | BrightLife Insurance

LIC's Jeevan Akshay - VII

Non-linked, non-participating, individual immediate annuity plan — pay once and get pension payments starting immediately.

Why Choose This Plan?

Jeevan Akshay VII is LIC's flagship immediate annuity plan — perfect for retirees or anyone who wants to convert a lump sum into a regular, guaranteed income stream that begins immediately. With 10 different annuity options (life only, joint life, with return of purchase price, etc.), you can fully customise how the pension is paid and what happens to the residual amount. It eliminates longevity risk — the fear of outliving your savings. Once invested, regardless of how long you live, LIC guarantees your pension.

Frequently Asked Questions

Eligibility criteria vary based on age, medical history, and specific plan requirements. Contact our advisors for a detailed assessment of your eligibility.

The claim process is simple and hassle-free. You can initiate a claim through our online portal, or by contacting our customer support team with the required documentation.

Yes, premiums paid towards this insurance plan may be eligible for tax deductions under relevant sections of the Income Tax Act. Please consult with a tax advisor for specifics.

LIC's Jeevan Akshay - VII