September 2006

To give benefit of improved interest rates in the money market to the annuitants, LIC launched Jeevan Akshay V, a single premium immediate annuity plan from 20th September, 2006.

With the introduction of Jeevan Akshay V, the existing plan Jeevan Akshay IV will be withdrawn w.e.f. 20/9/2006.

The Corporation has also passed on the benefit of improved interest rates to the existing policyholders whose annuities will vest on or after 20th September,2006. The annuity rate for the annuity 5 years and life thereafter for person aged 60 years will be 9.14% of purchase price.

Persons between the age group of 40 to 79 years are eligible to opt for the plan. Minimum purchase price is Rs.50,000. For purchase price of Rs.1,50,000 and above, Incentive by way of increase in Annuity is also available.

There is no limit for maximum purchase price.