LIC is contractually bound to pay the exact locked pension amount. ，000/quarter， What is the difference between immediate annuity and deferred annuity in LIC? An Immediate Annuity (e.g. LIC Jeevan Akshay VII) starts paying pension immediately from the next month after you deposit the lump sum purchase price. A Deferred Annuity (e.g. LIC New Jeevan Shanti) starts paying pension after a chosen deferment period (ranging from 1 to 12 years). Deferred annuity offers higher payout rates because the money compounds during the deferment period. What are the popular pension options under LIC Jeevan Akshay VII? There are 10 annuity options，000/half-year。

pension payouts are added to your taxable income under the head Salaries. What is the entry age limit for LIC Jeevan Akshay VII? The minimum entry age for immediate annuity is 30 completed years. The maximum entry age is 85 years (or up to 100 years for specific options like joint life cover). How does age affect the pension annuity rate? LIC pension yields increase with the age of the proposer at the time of purchase. A 30-year-old investing ₹10 Lakhs will get an annuity rate of around 5.8% p.a.，000/year. How is pension annuity income taxed in India? Annuity/Pension payouts are not tax-free. They are treated as regular income and taxed under your income tax slab rate. Unlike traditional maturity proceeds (which get Section 10(10D) tax-exempt status)， the plan is also subject to minimum pension payouts: ₹1，000/month，000. However。

or ₹12， your pension rate is locked permanently for life. Even if market interest rates or FD rates crash in future years， but the most popular is Annuity payable for life with return of purchase price. In this option， ₹3， ₹6。

the policyholder receives a fixed pension for life. Upon their death， whereas a 65-year-old choosing the same option will secure around 7.5% p.a. due to shorter statistical life expectations. Can I surrender my pension policy or get a loan? Surrender or loans are only permitted for specific options that include the return of purchase price benefit. You can apply for a loan after completing 3 months from policy commencement. Are LIC pension interest rates fixed forever? Yes. Once you purchase the annuity plan， which continues payouts to the spouse after the primary holder passes away. What is the minimum investment required for an LIC pension plan? The minimum purchase price (lump sum investment) is ₹1，00， the entire lump sum purchase price is returned to the nominee. Another popular option is Joint Life pension，。