LIC policyholders alert! Insurer revises annuity rates of 2 policies, here’s how to check new rates

New Delhi: Life Insurance Corporation (LIC), offers a slew of investment plans, offering impressive returns along with safety on principal. The country’s largest life insurer has revised the annuity rates of its LIC Jeevan Akshay VII and LIC New Jeevan Shanti policies. 

LIC currently has a market share of 64.1 per cent, making it the largest life insurer in India in terms of Gross Written Premium. The new rates are effective from February 1, 2022.

How to check revised annuity rates?  

If you have invested in New Jeevan Shanti, you can calculate the revised annuity amount by using the calculator on the official LIC website. You can also use the LIC app to check the revised annuity returns. 

LIC Jeevan Akshay VII 

LIC Jeevan Akshay VII (Plan no 857) is a non-linked scheme, meaning that the returns are not decided by market trends. The policy offers 10 types of annuity options to choose from. The rates are fixed at the time of buying the policy. The annuity in the scheme is paid either yearly or half-yearly or quarterly, or monthly. 

LIC’s New Jeevan Shanti (Plan 858)

Just like the LIC Jeevan Akshay VII (Plan no 857), the LIC New Jeevan Shanti plan is also a  non-linked, non-participating scheme. Investors are required to make a single premium to receive an annuity for a lifetime. Investors can choose from ‘single life’ and ‘Joint life Deferred’ annuity options. Also Read: Paytm loss widens to Rs 778.4 crores in Q3 FY22, revenue increases by 88%

If you want to buy the policy, you can visit a nearby LIC office or a Common Public Service Centres (CPSC) to invest in the schemes - LIC Jeevan Akshay VII (Plan 857) and LIC New Jeevan Shanti (Plan 858). You can also invest in the schemes from the official website of the insurer. Also Read: Garena Free Fire redeem codes for today, February 5: Check how to get free rewards

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