After withdrawing its annuity plan, Jeevan Akshay-IV, the Life Insurance Corporation of India (LIC) launched its new annuity plan- Jeevan Akshay-V on 20th September 2006.
Jeevan Akshay-V is a single premium immediate annuity plan for which the minimum entry age is 40 years. The maximum entry age for the policy is 79 years.

The various annuity options available underv the plan are annuity for life, annuity guaranteed for 5, 10, 15 or 20 years and for life thereafter, annuity with return of purchase price, annuity for life increasing at a simple rate of 3% p.a. and annuity for life with a provision for 50% or 100% of the annuity to the spouse of the annuitant for life on death of the annuitant. On death during the guarantee period - annuity is paid to the nominee till the end of the guaranteed period.

After the roaring success of Bima Gold, which was introduced to coincide with the golden jubilee celebrations, the Life Insurance Corporation of India (LIC) has launched the policy once again under the name of-New Bima Gold. Bima Gold had become so popular that there was a growing demand from the policyholders for the continuation of the plan. The Corporation had sold over 1 crore policies under the close ended scheme within seven months’ time.

It is believed that parents shape the future of the child. Their decision is the basis of the child’s strong foundation. Just planning an educational degree is not sufficient anymore. With the changing trend we realise progressively that the focus is shifting more towards ‘quality’. Hence the kind of planning, which goes in for preparing a stronger future has changed drastically over the years.

As a conventional method, a stipulated amount is invested in the fixed deposit. Later on, as the need arises, these funds are encashed for various stages of the child’s life. Looking at the returns and the dipping interest rates, this method of securing future may now seem outdated. It would just confirm your worst fears when you realise the savings are marginal and is not in tandem with the rising inflation rate.

It may seem a tedious job for some to manage their money. Finding the right place to deposit your money with returns in mind may be confusing at times. There are a whole lot of choices to choose from and to find the right place to rest your money can be an arduous task. Take a quick glimpse at the tips given below. It may help you in managing your money effectively.

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Dream big and achieve bigger. That’s probably the new mantra that people are following. It’s no longer impossible to posses a house or a car of your dreams. What once seemed unachievable is now within your reach.

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Technology plays an important role in an individual’s life. It has brought comfort and ease to people. What seemed a tedious task and took hours to complete is now just a few clicks away. For example, just punch in a few buttons and you can withdraw the amount you want from an Automated Teller Machine (ATM).