Plan 857 Pension Engine 2026

LIC Immediate Annuity (Jeevan Akshay VII) Pension Calculator

Model LIC's flagship immediate annuity plan. Invest a lump sum once to start receiving a guaranteed regular pension immediately for life.

Immediate Payouts: Pension starts immediately from the next month/year

10 Pension Options: Single life, joint life, and return of purchase price

Guaranteed Annuity rates locked in for life at inception

High Purchase Price Rebates: Higher pension rates for larger deposits

Tax benefits on purchase price u/s 80C (select options)

LIC Immediate Annuity Inputs

LIC Immediate Annuity (Plan 857) specialized calculator. Adjust your sliders to recalculate active returns.

1. Purchase Price (₹)₹10,00,000

2. Age of Annuitant (Years)60 Years Old

Annuity Payout Option

Pension Payout Frequency

Plan 857

Estimated Modal Pension Payout

₹93,000

Guaranteed lifetime annuity

Actuarial Projections

Sovereign-backed security of sum assured and returns u/s 10(10D).
Eligible for annual premium tax exemptions under Section 80C.
Loan and policy surrender values accumulate continuously.

Estimated yearly Pension:₹93,000

Total Annual Pension:₹93,000

Total Purchase Price (Incl 1.8% GST):₹10,18,000

Death Benefit Refund to Nominee:₹10,00,000

Assumed Pension Yield Rate:9.30% p.a.

Returns Performance2.81x Return

Guide to LIC Immediate Annuity (Jeevan Akshay VII / Plan 857)

LIC's Jeevan Akshay VII (Plan 857) is a non-linked, non-participating, individual immediate annuity plan. It requires a single premium (lump sum) payment. In return, LIC guarantees a regular pension (annuity) for the lifetime of the policyholder. Policyholders can choose from 10 different annuity options, including monthly, quarterly, half-yearly, or yearly pension frequencies.

Plan Eligibility & Key Actuarial Limits

Policy parameter	Details and limits
Minimum Entry Age	30 Years (Completed)
Maximum Entry Age	85 Years (except for Option F which is 100 Years)
Minimum Purchase Price	₹1,00,000 (subject to minimum annuity limits)
Maximum Purchase Price	No Limit
Annuity Frequencies	Monthly, Quarterly, Half-Yearly, or Yearly
Pension Options	Life Annuity, Joint Life, Return of Purchase Price, etc.

Tax Benefits & Payout Options

The purchase price qualifies for tax deductions under Section 80C. The regular annuity pension received is treated as taxable income in the hands of the pensioner under their respective tax slab.

Frequently Asked Questions (FAQs)

What is the most popular pension option in Jeevan Akshay VII?

Option F (Life Annuity with Return of Purchase Price) is highly popular. It pays a guaranteed pension to the policyholder for life, and upon their demise, the entire initial purchase price is returned to the nominee.

How soon does the pension start?

For monthly frequency, the pension starts exactly one month after the purchase date. For yearly frequency, it starts after one year.

Can I surrender an immediate annuity policy?

Surrender is allowed under specific options that feature the Return of Purchase Price, typically after completing 3 months.

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