LIC’s Jeevan Akshay-VII Plan 857:
The best pension and Investment Plan for NRIs & FNIOs in India
Life time guaranteed Income Plan from LIC?
If you’re an NRI (Non-Resident Indian) or FNIO (Foreign National of Indian Origin) looking for a secure investment option that provides a steady income in India, LIC’s Jeevan Akshay-VII Plan 857 could be the perfect choice. This plan is one of the Best pension and investment plan for NRIs and FNIOs, offering a lifetime income in exchange for a one-time investment. Here’s why LIC’s Jeevan Akshay-VII is considered one of the best NRI schemes in India and a top choice for anyone looking for the best investment plan for NRIs.
Why The Best pension and investment plan for NRIs and FNIOs
This plan provides guaranteed income for life, making it a great pension scheme for NRI and FNIO investors. As one of the best investment options in India for NRIs, it allows you to make a single payment and start receiving monthly, quarterly, half-yearly, or yearly payouts, depending on your preference.
Here’s what makes it stand out:
- Immediate Income: You start receiving payments soon after your one-time premium.
- Guaranteed Income for Life: Enjoy a steady income stream for as long as you live.
- Flexible Payout Options: Multiple options let you choose the best annuity plan for your needs.
- Peace of Mind: LIC is India’s most trusted insurer, offering security and reliability.
Key features of LIC Jeevan Akshay-VII?
- Single Premium: This plan requires a single payment, so there’s no need to manage ongoing premiums. After your investment, the plan takes care of itself.
- Lifetime Income: With this plan, you receive guaranteed payouts for your lifetime, which is ideal for NRIs who want financial stability in India.
- Tax Benefits: Depending on your country’s tax laws, you may receive tax benefits in India for the premium invested.
- Flexible Annuity Options: There are multiple annuity options that let you customize your investment based on your needs, making it a top choice for NRIs.
Annuity Options Tailored for NRI Needs
This plan offers different options, so you can choose what works best for you:
- Life-Only Annuity: A simple option where you receive income as long as you live.
- Annuity Guaranteed for 5, 10, 15, or 20 Years: You’re guaranteed an income for a set number of years. If you pass away within the guaranteed period, the payments continue to your nominee.
- Return of Purchase Price: Your investment (purchase price) is returned to your nominee upon your death.
- Increasing Annuity: With this option, your income increases by 3% each year, helping you keep up with inflation.
- Joint Life Annuities:
- ->50% to Secondary Annuitant: 50% of your income continues to a second person, like a spouse, after you pass away.
- ->100% to Secondary Annuitant: The full income continues to your spouse or other secondary annuitant upon your passing.
- ->100% to Secondary Annuitant with Return of Purchase Price: Full income continues to the second person and, upon their passing, the purchase price goes to the nominee.
Eligibility and Conditions
- Minimum Age: 25 years
- Maximum Age: 85-100 years, depending on the option
- Minimum Investment: ₹10,00,000 for ages 25-29; ₹1,00,000 for those aged 30 and above
- No Maximum Limit: You can invest as much as you like
- Annuity Payment Modes: Choose from monthly, quarterly, half-yearly, or yearly
Additional Benefits for NRIs
- Rebates on High Investments: For larger investments, you receive an added bonus on your annuity rate, which means a higher monthly income.
- Existing LIC Policyholder Benefits: If you or your nominee already have an LIC policy, you may receive an additional 0.15% on the annuity rate.
- Special Options for Dependents: LIC’s Jeevan Akshay-VII has options to ensure financial security for dependents with disabilities.
Why LIC’s Jeevan Akshay-VII is the Best Pension and Investment Plan for NRIs & FNIOs in India
For NRIs looking for the best pension scheme or investment plan in India, LIC’s Jeevan Akshay-VII offers peace of mind, consistent income, and flexibility. Here’s why it’s one of the best options for investment in India for NRIs:
- Simple, One-Time Investment: You make a single payment and start receiving your income. There’s no need to manage ongoing contributions or multiple payments.
- Stable, Guaranteed Income: This plan offers a secure, predictable income for life, helping you plan your finances confidently.
- Options for Family Security: Whether you want to ensure income for a spouse, provide for dependents, or return the initial investment to your heirs, the plan provides flexible choices to suit your needs.
- Trustworthy Provider: LIC is India’s largest insurance provider and is known for its strong financial backing and commitment to customers.
Conclusion: The Best Pension and Investment Plan for NRIs and FNIOs Investors
LIC’s Jeevan Akshay-VII (V06) Plan 857 is an ideal investment for NRIs and FNIOs who want a reliable income source from India. With guaranteed lifetime income, flexible options, and high security, it stands out as one of the best NRI pension schemes in India. Whether you’re planning for retirement, want an additional income stream, or wish to support family members, this plan is the perfect solution for secure investment for NRIs in India.
By investing in LIC’s Jeevan Akshay-VII, you’re choosing stability, flexibility, and a government-backed income stream in India.
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