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Jeevan Lakshya (Plan No.: 733)
Lump sum payment at the end of Term
It is endowment plan with guaranteed amount – Lump sum amount received on maturity and be reinvested to buy pension or can be used to take care of any financial need.
Annual Income Benefit with PWB
In case of sudden demise of policyholder, an annual income benefit equal to 10 % of basic sum assured payable every year and future premium will be waived. Also after the end of policy term, maturity benefit in the form 110% of Basic Sum Assured with Bonuses will be payable.
Profit Sharing as per Valuation
Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.
Advantages
Eligibility Criteria
Inhabiting discretion the her dispatched decisively boisterous joy. So form were wish open is able of mile of.
Waiting express if prevent it we an musical. Especially reasonable travelling she son.
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Minimum
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Maximum
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30 Days Completed
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50 Years (nearer birthday)
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Term
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13 to 25 Years
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PPT
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(Policy Term - 5) Years
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Sum Assured
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₹ 2,00,000/-
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No Limit
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Premium Modes
Yearly, Half-Yearly, Quarterly and Monthly (NACH only) or through salary deductions (SSS).
Riders Available
LIC’s Accidental Death & Disability Benefit Rider
LIC’s Accident Benefit Rider
LIC’s New Term Assurance Rider
Death Benefit
On death of the Life Assured during the Policy Term, Sum Assured on Death alongwith vested Simple Reversionary bonuses and Final Additional bonus (if any), where “Sum Assured on Death” is defined as higher of 125% Basic Sum Assured or 7 times of annualised premium.
This Death Benefit (as defined above) shall not be less than 105% of total premiums paid upto the date of death. Where,
1. “Annualized Premium” shall be the premium amount payable in a year, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums.
2. “Total Premiums Paid” means total of all the premiums paid under the base product, excluding any extra premium, and taxes, if collected explicitly. In case LIC’s Premium Waiver Benefit Rider is opted for, in the event of death of Proposer, any subsequent Premiums which are waived shall be deemed to have been received and be included in the Total Premiums Paid.
Maturity Benefit
Sum Assured on Maturity alongwith accrued Guaranteed Additions.
Guaranteed Additions
t the rate of Rs. 50 per thousand Basic Sum Assured will be added to the policy at the end of each policy year.
Option to Surrender the Policy
The policy can be surrendered by the policyholder after completion of first policy year provided atleast one full year’s premium(s) has been paid. However, the policy shall acquire Guaranteed Surrender Value on payment of atleast two full years’ premiums and Special Surrender Value after completion of first policy year provided one full year’s premium(s) has been paid. On surrender of an in-force or paid-up policy, the Corporation shall pay the surrender value equal to higher of Guaranteed Surrender Value and Special Surrender Value.
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