Question

Different pension options mentioned in pension plan jeevan suraksha

Answer 1

The annuity options available under LIC’s Jeevan Suraksha pension plan:

• Annuity payable for remainder of life

• Annuity payable for life with guaranteed period of 5, 10, 15 or 20 years

• Joint life and last survivor annuity to the annuitant and his/ her spouse under which annuity payable to the spouse on death of the purchaser will be 50% of that payable to the annuitant

• Life annuity with a return of purchase price on death of the annuitant

• Life annuity increasing at a simple rate of 3% per annum.