Lic Jeevan Akshay vs Lic Jeevan Saathi

LIC Jeevan Akshay VI Plan is an immediate annuity pure pension plan for senior citizens provided by one of the top ranked insurance companies in India, Life Insurance Corporation of India (LIC).

It is a smart retirement investment plan, a lump sum amount is to be paid to purchase the policy. Under this annuity plan, pension for a regular interval of time immediately after the payment of premium is received by the insured. The type and mode of payment is to be selected by the policyholder from multiple options available.

The plan is ideal for retired people so as to remain independent and financially stable after their retirement.

LIC Jeevan Akshay Plan offers you a range of benefits including:

• Death Benefits
• Maturity Benefits
• Loyalty Additions

• Policy Revival
• Multiple Rider Options

LIC Jeevan Saathi is basically an endowment assurance policy that is there to ensure the lives of husband and wife. It offers the required financial protection to the insured's life. Under the same, the insured lives will be able to get the maturity amount and the end of the policy term.

It is a unit-linked insurance plan under which a couple can get the required insurance coverage within a single policy. In this policy, the proposer will be called Principal Life Assured (P.L.A.) and the other life (husband/wife) will be called Spouse Life Assured (S.L.A.). Recently, this plan has gained so much popularity just because of its unique features. The plan allows the P.L.A. to choose the sum assured amount, under which both lives will be insured. It may also vary if you opt for a single premium or regular premium contract, as well as your age and the amount of premium agreed to pay.

When it comes to regular premium policies, in case of the demise of the P.L.A. during the policy's tenure, the plan will help his/her spouse for waiver of all future premiums including outstanding premiums as well.

LIC Jeevan Saathi Plan offers you a range of benefits including:

• Maturity benefits
• Bonuses
• Partial withdrawals

• Switching
• Death benefits