HomeMoney & FinanceLIC modifies Jeevan Akshay VII, New Jeevan Shanti plans

LIC modifies Jeevan Akshay VII, New Jeevan Shanti plans


The Life Insurance Corporation of India (LIC) has announced a revision in two of its insurance policies – Jeevan Akshay VII and New Jeevan Shanti.

According to a press release, the LIC of India has revised annuity rates in respect of its annuity plans LIC’s Jeevan Akshay VII (Plan 857) and LIC’s New Jeevan Shanti(Plan 858). Besides, the modified version of these insurance plans with revised annuity rates shall be available for sale from 1 February.

The annuity amount under both annuity options of New Jeevan Shanti can be calculated through the calculator provided on LIC’s website as well as through various LIC apps.

The insurance plans are available both online and offline. That is, you can either purchase the policy online by visiting the LIC India website or you can visit the branch channel to buy the plan offline.

In addition to the revision of annuity rates, LIC’s Jeevan Akshay VII (Plan no 857) can be purchased from the new distribution channel Common Public Service Centres (CPSC – SPV) along with other existing distribution channels, as per the press release.

Last month, that is in December 2021, the LIC had launched a new insurance policy- Dhan Rekha. It is a non-linked, non-participating, individual savings life insurance policy. While the policy is offering special premium rates for females, it is also allowed for the third gender. You get guaranteed benefits under the plan.

The plan provides a minimum of 2 lakh sum assured and there is no limit for the maximum sum assured. The maximum age at entry ranges from 35 years to 55 years depending upon the chosen policy term.



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