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LIC Jeevan Lakshya Plan

LIC Jeevan Lakshya Plan offers annual benefits that help the family fulfill their primary and secondary needs during life and after life of the policy holder. LIC Jeevan Lakshya Plan 833 allows the family to continue their life smoothly including children’s education through its Annual Income feature paid to the nominee after the grievous death of the insured life.

Some of LIC Jeevan Lakshya policy features for eligibility are –

  • Minimum entry age: 18 years
  • Maximum entry age: 50 years
  • Maturity Age: 65 years
  • Policy term ranges between 13 years to 25 years
  • Minimum Sum Assured of Rs. 1,00,000

LIC Jeevan Lakshya Policy benefits offer life protection and savings. This plan is suitable for parents having girl child. This plan is very popularly called as Kanyadaan Plan in North India. This plan suits well for education and marriage in case of any eventuality

Death Benefit:

LIC Jeevan Lakshya Plan 833 provides the sum assured and bonus if any in the unfortunate event of death of the life insured. The policy continues to participate in profits even after death till the date of maturity and the vested bonuses are paid accordingly on the date of maturity. The sum assured on death is payable as below along with the Simple Revisionary Bonuses and Final Additional Bonus payable on the maturity date.

a. Assured amount equalling to 110% of Basic Sum Assured due to be paid on maturity or
b. Annual Income Benefit of 10% of Basic Sum Assured calculated from the policy anniversary

following the date of death till the policy anniversary prior to the date of maturity.
The death benefit offered under LIC jeevan lakshya 833 shall not be less than 105% of all premiums paid till the date of death.

Maturity Benefit:

Sum Assured on the maturity of LIC Jeevan Lakshya Plan is offered under LIC Jeevan Lakshya benefits. It pays a lump sum amount at the end of the policy term if all premiums are paid on time with the accrued bonuses.

LIC Jeevan Lakshya benefits also offer the following optional advantages:

a. Accidental Death and Disability Rider Benefit
b. New Term Assurance Rider
c. LIC lakshya tax benefits can be availed under Section 80C for premiums paid and under Section 10 (10D) on the maturity amount received.

LIC agents help you understand LIC Jeevan Lakshya Policy details and help you submit all documents without any hassle and enroll for the policy.

Eligibility Conditions & Restrictions 
Minimum age18 years (Completed)
Maximum age50 years
Maximum maturity age65 years
Policy Term13 years to 25years
Premium paying termPolicy term -3years
Minimum Sum AssuredRs.1,00,000
Maximum Sum AssuredNo limit
Premium payment modeYearly / Half yearly / Quarterly / Monthly (Thru Bank)
LoanEligible after 3 years
SurrenderEligible after 3 years