(THE NEWSMAN OF INDIA)
Life Insurance Corporation of India (LIC), the country’s largest life insurance company, offers pension plans besides providing term insurance and endowment insurance plans. LIC’s Jeevan Akshay-VI is one of the pension plans among others like LIC Jeevan Shanti plan. LIC’s Jeevan Akshay-VI is an immediate annuity plan (pension plan), which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant, according to LIC’s website – licindia.in.

LIC Jeevan Akshay-VI pension plan can be purchased by any individual between the minimum age of 30 years and up to maximum age of 85 years by paying a single lump sum premium of Rs 1 lakh for all distribution channels except online or by paying Rs 1.5 lakh or above via online sale, LIC noted on its website.
https://www.licindia.in/Products/Withdrawn-Plans/jeevan_akshay