LIC Jeevan Lakshya
LIC Jeevan Lakshya, participating non-linked, limited premium paying conventional profit linked Endowment Assurance plan which provides Annual Income Benefit to fulfill the family requirements. In case of death of the policy holder takes place prior to the maturity, 10% of the basic sum assured will be paid on every policy anniversary, further it also provides a lump sum amount at the time of maturity regardless of survival of the policyholder.
Policy Benefits :
On Death :
Sum Assured on Death + Bonuses & Final Additional Bonus, if any, shall be payable in following manner. Annual Income Benefit equal to 10% of the Basic Sum Assured (till policy anniversary prior to date of maturity) Assured Absolute Amount of 110% of Basic Sum Assured, payable (on due date of maturity) Along with Bonuses & Final Additional Bonus, if any, on maturity. (on due date of maturity)
On Survival : On survival Basic Sum Assured + Vested Bonus + FAB if any.
Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly(ECS)
Term : 13 to 25 Years
P.P.T. (Policy Term minus 3) Years
Minimum Entry Age : 18 Year Completed
Maximum Entry Age : 50 Year (Nearest Birthday)
Maximum Maturity Age :65 Year (Nearest Birthday)
Minimum Sum Assured :1,00,000
Maximum Sum Assured :NO LIMIT (Depending upon Income)
Maximum Accidental Death and Disability Benefit Rider up to age 65.
Surrendered Value : The Policy can be surrendered at any time during the policy term provided at-least 3 full years premiums have been paid.
Loan : Available after payment of premium of 3 full years.
Income Tax Benefit :
� Premium paid under this plan is eligible for TAX rebate under section 80c.
� Maturity under this plan is free under sec 10(10D).
Best for planning children education and marriage.