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JEEVAN LAKSHYA

(A Non-Linked, Participating, Individual, Life Assurance Savings Plan)

LIC’s Jeevan Lakshaya is a Non-linked, Participating, Individual, Life Assurance plan which offers a combination of protection and savings. This plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder.This plan also takes care of liquidity needs through its loan facility.

Key Features & Highlights :

Sum assured

Minimum - Rs. 1,00,000
Maximum - No limit

Policy term - 13 to 25 years
Premium payment modes - Premiums for the policy can be paid in yearly, half-yearly, quarterly and monthly thru Electronic Clearing Service (ECS) , wherein it facilitates an easier option to pay the premiums.
Premium payment term - The premium paying term is 3 years less than the policy term, irrespective of whatever term the policy is for
Age of entry

Minimum - 18 years (completed)
Maximum - 50 years (nearest birthday)

Maximum maturity age - 65 years (nearest birthday)
Bonuses - Being a With-Profits Endowment Assurance plan, this policy garners profits made by the Life Insurance Corporation of India through the Simple Reversionary Bonus and Final Additional Bonus (if applicable) and these are paid out at the end of the maturity period
Optional riders - The policy can have two optional riders

LIC Accidental Death and Disability Benefit Rider
LIC New Term Assurance Rider

A Sample Case Study On LIC Jeevan Lakshya Plan:

Let us suppose that Mr. XYZ has availed LIC Jeevan Lakshya for a term of 30 years. His current age is 25 and the sum assured is 20 lakhs. Let’s list out the initial details of how the policy would work in his case -

Mr. XYZ’s age - 25 years
Sum Assured - Rs. 20 lakhs
Policy Term - 30 years
Premium Payment Term - 27 years (Policy Term - 3 years)

Maturity Benefit - If Mr. XYZ survives through the entire policy period, the final amount that he receives is -

Maturity Amount = Rs. 20,00,000 (Sum Assured) + Simple Reversionary Bonuses + Final Additional Bonus (if any).

In Case of an unfortunate event:

- If Mr. XYZ dies after 8 years from the date of the receipt of the policy, the death benefit payable will be -

From the 9th year of the policy period, the nominee will receive Rs. 2,00,000 (10% of the the Basic Sum Assured) on every policy anniversary till the end of the policy term (30 years).
At the end of the policy term / maturity period, the nominee shall receive : (110% of the Basic Sum Assured) + Simple Reversionary Bonuses + Final Additional Bonus (if any).

LIC’s Jeevan Lakshya Plan is an Endowment Plan that gives Regular Income to family, in case of an unfortunate event.

For Consultation Call / WhatsApp @

+91 - 9028917175, +91 - 7892795163

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