LIC Monthly Income Calculator
Evaluate monthly regular income payout schedules for fixed capital investments or annuity retirement reserves.
₹3,083 / month
Paid out on the same day every month.
• Principal remains fully intact and is returned at the end of the selected tenure.
• Interest is paid out monthly, making it ideal for regular household expense planning.
Monthly Payout Strategy
A Monthly Income Plan aims to distribute regular cash flows from a stable pool of capital. LIC plans (like Jeevan Akshay VII or Jeevan Shanti) act as immediate annuities providing guaranteed monthly payouts for life.
- Stable Income: Fixed payouts shield retirees from interest rate cycles and market volatility.
- Purchase Price Refund: Option to choose refund of initial investment capital to nominees on death.
Taxability of Annuities
Annuity payouts are treated as taxable income under the head 'Salaries' or 'Income from Other Sources' and taxed at the individual's applicable tax slab rates.
Frequently Asked Questions (FAQ)
What is the minimum age to enroll in LIC Monthly Income annuity plans?
The minimum entry age typically ranges between 30 to 35 years depending on the specific immediate or deferred annuity plan selected.
Are the monthly payout rates fixed for the lifetime of the policyholder?
Yes. Once an immediate annuity is purchased, the monthly payout rate is locked in permanently and does not change during the subscriber's lifetime.
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