Benefits from Jeevan Akshay VI Plan no 810

Benefits from Jeevan Akshay VI Plan 810

1. Death Benefit – In case of death of the Life Insured it entirely depends upon pension option chosen
   • Annuity for Life- Pension stops when Annuitant dies and nothing further would be payable to nominee.
   • Annuity Guaranteed for Certain Periods-
     • During the Guaranteed Period - Pension is paid to the nominee till the end of the guaranteed period after which it stops.
     • After the Guaranteed Period- Pension stops when Annuitant dies and nothing further would be payable to nominee.
   • Annuity with Return of Purchase Price on Death- Pension stops when Annuitant dies and the remaining amount is paid to nominee.
   • Increasing Annuity- Pension stops when Annuitant dies. Nothing further would be payable to nominee.
   • Joint Life Last Survivor Annuity with 50% pension for spouse- When Annuitant dies and Spouse survives, 50% of the Pension continues as long as spouse is alive and stops thereafter. Nothing further would be payable to nominee.
   • Joint Life Last Survivor Annuity with 100% pension for spouse- When Annuitant dies and Spouse survives, 100% of the Pension continues as long as spouse is alive and stops thereafter. Nothing further would be payable to nominee.
2. Maturity Benefit – There is no maturity benefit since this is a plan to protect the risk of living too long. Pension is provided immediately according to the option selected.
3. Income Tax Benefit – Premiums paid under life insurance policy are exempted from tax under Section 80 C. Pension that is received is taxable.