Life Insurance Corporation launches ‘Jeevan Akshaya-1’ pension scheme, People above 40 years and less than 75 years can get insured
Life Insurance Corporation (LIC) Nepal has launched ‘Jeevan Akshaya-1’ insurance scheme as a pension plan as its new product. The scheme ensures the insured to receive pension as soon as the pension plan is taken. The chairman of the Insurance Board, Mr Chiranjeevi Chapagain had launched this scheme.
Mr Abhijit Ghosh, CEO of Life Insurance Corporation Nepal said that people above the age of 40 will be able to get enrolled in the scheme.
People above 40 years of age and below 75 years of age will be able to get enrolled in the scheme. The insured needs to decide the time of receiving pension before taking the scheme. The insured can pay the premium on an annual, semi-annual, quarterly or monthly basis. However, the insured has to decide since when he/she wants to receive the pension amounts before getting the scheme. The insured shall get the pension payments throughout his life once enrolled in the scheme. Also, the spouse of the insured shall receive the pension amount throughout his/her life after the demise of the insured.
If the insured takes a policy of Rs 10 lakh then a 40 year old person can claim from this policy for 20 years. For this, the premium amount of Rs 47,660 will have to be paid annually. Until the expiry of the policy period, the insured will pay Rs 9.53 lakh in total.
On the completion of policy period, total amount of Rs 14.44 lakh will be received and after that monthly pension of Rs 12,860 will be received by the insured. And if the insured wants to receive pension as soon as the policy is taken, then he will receive 15% of the paid premium amount.
People above 40 years of age and below 75 years of age will be able to get enrolled in the scheme. The insured needs to decide the time of receiving pension before taking the scheme. The insured can pay the premium on an annual, semi-annual, quarterly or monthly basis. However, the insured has to decide since when he/she wants to receive the pension amounts before getting the scheme. The insured shall get the pension payments throughout his life once enrolled in the scheme. Also, the spouse of the insured shall receive the pension amount throughout his/her life after the demise of the insured.
If the insured takes a policy of Rs 10 lakh then a 40 year old person can claim from this policy for 20 years. For this, the premium amount of Rs 47,660 will have to be paid annually. Until the expiry of the policy period, the insured will pay Rs 9.53 lakh in total.
On the completion of policy period, total amount of Rs 14.44 lakh will be received and after that monthly pension of Rs 12,860 will be received by the insured. And if the insured wants to receive pension as soon as the policy is taken, then he will receive 15% of the paid premium amount.
