Pension Plans

The minimum age for purchase of LIC Saral Pension Plan is 40 years and the maximum age is 80 years. This plan is available for a single annuitant or for joint annuitant in the case of spouse. The annuitant will receive a regular income from LIC as long as he is alive. In case of death of the annuitant, the purchase price is returned to the nominee.

LIC Jeevan Akshay VII is a single premium, whole-life plan, wherein the pension would be paid until the demise of the pensioner. The plan starts offering a regular income immediately after its purchase

Varishtha Pension Bima Yojana 2014 (VPBY-2014) schemes, and to protect elderly persons aged 60 years and above against a future fall in their interest income due to the uncertain market conditions,