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 Maturity of the policy, survival Basic Sum Assured + Vested Bonus + FAB if any.
Premium Payment Mode: Yearly, Half yearly, Quarterly, Monthly(ECS)
Under LIC Jeevan Lakshya minimum term is 13 yrs and maximum is 25 Years
For any term the premium paying term would be maturity minus 3 years.
Minimum Entry Age would be 18 Year Completed and maximum entry age is 50 years.
Maximum Maturity Age :65 Year (Nearest Birthday)
Minimum Sum Assured is Rs. 1,00,000/- and there is no limit on maximum sum assured
Maximum Accidental Death and Disability Benefit Rider up to age 65.
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.