Answer: Option D
Answer: (d)
LIC (Life Insurance Corporation, India) introduces its pension plan to offer individuals regular income during their old age. Pension also well-known as retirement plans are predominantly intended for the citizens who are disposed to make their old age financially secure.
Jeevan Kishore is a children’s plan under which the child becomes the owner of the policy automatically at the age of 18 yeaRs.Jeevan Chhaya is beneficial for a partner having less than a year old child (not an adopted child).
It makes provision for higher education/marriage of the child. Jeevan Sanchay is a without profit money-back plan available for the age group between 14 years and 58 yeaRs.LIC’s Jeevan Akshay- VI is a pension plan for people who are at present in their retirement age and have no pension.
Under this policy, LIC will pay the policyholders a reliable payment at normal time periods starting right after the holder pays a lump sum premium towards the cost of the policy. The annuitant can accept the payment as per his aspiration either monthly, quarterly, half-yearly or yearly.