Pranavam Financial Services
LIC • RETIREMENT

Jeevan Akshay VII.
Turn a lump sum into a structured retirement income.

An immediate annuity plan designed to convert a lump-sum purchase price into annuity income under a selected annuity option.

Discuss this plan →See key details
A dedicated plan guide from Pranavam Financial Services
TYPEImmediate annuity
FOCUSRetirement income
CHOICEMultiple annuity options

WHY PEOPLE CONSIDER IT

For someone approaching retirement who values predictable income over managing a large corpus entirely on their own.

Think of this page as the first five minutes of the conversation. The final decision should follow a comparison of your goals, existing cover, affordability, risk and the current policy or scheme documents.

Immediate annuityIncome starts according to the selected annuity option and terms.
Multiple optionsLIC's brochure describes 10 available annuity options in the referenced version.
Retirement cash-flow focusDesigned around converting capital into income.
Clear objectiveUseful when the key question is 'How will I create income after retirement?'

AT A GLANCE

PlanJeevan Akshay VII
Plan No.857
TypeImmediate annuity
StatusCheck current availability

Example scenario

A 60-year-old retiree has a retirement corpus and wants to convert part of it into a defined annuity income.

Key benefits to explore

  • Converts a lump sum into annuity income
  • Multiple annuity-option structures
  • Retirement cash-flow focus
  • Can reduce dependence on active withdrawals

UNDERSTAND THE LANGUAGE

Key terms explained simply.

You do not need to know the jargon before speaking with us. Here are the terms that matter on this page.

AnnuityA financial arrangement that can provide a series of payments, commonly used to create retirement income.
Immediate AnnuityAn annuity where payments begin according to the selected option after the purchase, subject to the policy terms.
PremiumThe amount paid to keep an insurance policy in force, according to its payment schedule.
View the full financial glossary →

QUESTIONS PEOPLE ASK

Before you decide.

Is this a mutual fund?

No. It is an insurance annuity product.

Can I withdraw whenever I want?

Liquidity depends on the selected option and policy terms.

Why consider an annuity?

It can provide a defined stream of income, reducing reliance on active portfolio withdrawals.

PRANAVAM FINANCIAL SERVICES

Let's see if it fits your goal.

Tell us your age, goal, timeline and what you already have. We'll keep the conversation practical and easy to understand.

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Important: This page is for general education and initial comparison. Insurance benefits are subject to the current policy wording, exclusions, waiting periods, underwriting and applicable terms. Mutual funds are market-linked and returns are not guaranteed. Figures marked with * are time-sensitive or scheme/product-specific and should be rechecked against the provider's current documents before publication or purchase.