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LIC's Jeevan Akshay-VII

Immediate annuity, income starts now

A single premium immediate annuity: pay a lump sum and start receiving a guaranteed pension for life from the very next period.

Who it suits: Retirees converting a provident fund or gratuity into monthly income.

  • Pension
  • Immediate annuity, income starts now
  • Maturity Benefit
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LIC plan reference: 857

LIC LIC's Jeevan Akshay-VII pension plans illustration

Eligibility at a glance

Entry age
25 to 100 years
Maturity age
Up to 75 years (plan dependent)
Sum assured
Purchase price from ₹1,00,000
Policy term
Lifetime annuity
Premium modes
Yearly, half-yearly, quarterly, monthly (NACH) and salary savings scheme

Key benefits

  • Ten annuity options including return of purchase price
  • Rates guaranteed for life at purchase
  • Joint life options for spouse
  • Higher rates for larger purchase prices

Estimate your LIC's Jeevan Akshay-VII premium and maturity value

LIC Premium & Maturity Calculator

Estimates from publicly published LIC rate tables. Not a quotation.

Yearly premium
₹1,200
First instalment
₹1,200
Renewal instalment
₹1,200
Total outgo over the term
₹1,200
Estimated maturity value
₹22,40,000
Get an exact LIC quotation

Figures exclude underwriting loading and high sum assured rebates. Bonus-linked maturity values are projections, not guarantees.

Want an exact LIC illustration?

Your estimate is ready. For an official quotation and a suitability discussion on LIC's Jeevan Akshay-VII:

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This plan may not be ideal if…

  • You need the maximum possible life cover for the lowest premium — a term assurance plan does that better.
  • You may need the money back within the first few years; early surrender values are low.
  • You expect market-linked returns; participating LIC returns are steadier but more modest.
  • Your income is irregular and you cannot commit to the full premium paying term.

Frequently asked questions

Get advice on LIC's Jeevan Akshay-VII

Send your age and budget and you will get an official LIC quotation plus an honest view on whether this plan is the right fit.

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This page describes LIC's Jeevan Akshay-VII in our own words, based on LIC's published product literature. For the binding terms, always refer to the official policy document issued by Life Insurance Corporation of India.