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This plan provides an annual income benefit to your family and the policy holder. Unfortunate deaths are of major concern and this policy covers it. LIC Jeevan Lakshya Plan (T-933) is a limited premium paying conventional plan. This plan gives security for children’s education and for marriage also. In this policy if the policyholder dies during the policy term than the child will get the 10% of sum assured as income benefit every year till maturity which helps in child’s basic education and again on maturity child will get the full maturity amount which helps in child’s higher education or marriage and that is without paying any further premium after the death of policyholder (Inbuilt Premium Waiver Benefit).

Why Jeevan Lakshya Plan

Due to an unfortunate demise or the end of the policy term, the policy holder or the nominee gets the entire sum assured.

Key Features

The loan facility on the policy is taken care of by the bank.

  • For Taking Care Of Your Day To Day Expenses.
  • Immediate Regular Income to the Family in Your Absence.
  • For Taking Care Of Your Loved Ones.
  • For Taking Care Of Your Short Medium Term Goals.
  • Income Benefit of 10% of SA to the Family (Education of the Child is completely taken care).
  • Inbuilt Premium Waiver Benefit.
  • No Other Product can do this Wonder.
  • Term Rider Benefit Available.
  • Double Accident Rider Available.
  • Double Tax Benefit Available (Premium Paid gives 80C Tax Benefit upto Rs. 1,50,000 and Maturity is also Tax Free under section 10(10D)).
  • Loan and Surrender Facility Available

Death Benefits

10% of the Annual Income will be paid until the maturity date when 110% of the return will be paid to the nominee of the policy.

  • In case of death of policy holder during policy term, 10% of Sum Assured will be provided to the child each year till the maturity(Also all future premiums will be waived)
  • On maturity, Sum Assured + Simple Reversionary Bonus + Final Addition Bonus will be payable as maturity amount.

Maturity Benefits

If the premiums are paid regularly, then the sum assured will be paid at the end of the policy. Sum Assured + Simple Reversionary Bonus + Final Addition Bonus will be payable as maturity amount.

Eligibility Criteria:

Minimum Age to Apply 18 Years (Completed)
Maximum Age to Apply 50 Years (Nearest Birthday)
Policy Term 13 to 25 years
Premium Paying Term (Policy Term – 3) years
Maximum Maturity Age 65 Years
Premium Paying Mode Yearly, Half Yearly, Quarterly, Monthly (ECS)
Sum Assured 100000 and above (in multiples of 10000)
Loan After 3 Years
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