Table of Contents
Why is an annuity better than FD?
The reason that the Annuities take more time to gain maturity than FD’s is because of the opted policy terms by the investor. In FD, there is limited liquidity, whereas, in Annuity, there is no limit to liquidity. The entire amount is blocked in FD during the fixed tenure, and only limited liquidity is allowed.
Which one is better Jeevan Akshay or Jeevan Shanti?
For a person having taxable income, Jeevan Shanti is a better option as he/she can defer additional tax liability through the deferred annuity option. While Jeevan Akshay is an immediate annuity plan, Jeevan Shanti has options of both deferred and immediate annuity.
How much does a 100000 annuity pay per month?
A $100,000 Annuity would pay you $521 per month for the rest of your life if you purchased the annuity at age 65 and began taking your monthly payments in 30 days.
What is the rate of interest in LIC Jeevan Akshay?
Illustrations
| Policy Details | Sum Assured: Rs. 5 lakhs Policy Purchase Year: 2017 Age: 60 years Pension Mode: Yearly By using a premium calculator, you can calculate the benefit details. |
|---|---|
| Pension Details | Pension Type: Yearly The Rate of Interest: 9.38\% Pension Amount: Rs. 48, 903 |
What is the difference between Jeevan Akshay VI and fixed guaranteed return?
The main difference between these investments is Fixed Guaranteed Return for Life Time in case of Jeevan Akshay VI and Fixed Guaranteed Return for a Specified Limited Term in case of FD. So, interest rate will help us to understand which plan is better than other.
Is Jeevan Akshay a good plan?
Jeevan Akshay is a good plan when compared to FDs as rate of return is fixed for life. Remember Akshay is a Pension plan. The new Akshay six is paying you somewhere between 6.5\% pa. Considering your age and inflation I won’t vouch for Akshay.
What is Jeevan Akshay VI in LIC’s Pension Plan?
LIC’s Jeevan Akshay VI is an immediate annuity plan, which means monthly, quarterly, half yearly or year pension will start immediately on deposit of one time single amount. The policy holder can opt for one of the ten options for pension.
What is the effect of age on annuity rates in Jeevan Akshay?
Also the higher is the age of the member higher will be the annuity received. Given below are annuity rates in Jeevan Akshay VI which shows more annuity is offered then you buy it at higher age which emanates from the fact that company have less period to pay.