LIC Jeevan Lakshya Plan (Table No:833)

₹2,000.00

LIC’s Jeevan Lakshya policy is a combination of risk cover and saving plan which is most suitable for the purpose of providing financial security of children and family. This policy provides life cover during the policy term and Sum Assured + Bonuses on survival as maturity. In case of death of policy holder during the policy term, this policy provides 10% of sum assured every year till maturity and on maturity it again provides 110% of Sum Assured + Bonuses as maturity.

  • Annual Income in case of death
  • Sum assured + Simple Reversionary Bonus + Final Addition Bonus as maturity.
  • Annual Income feature can be used as child education in case of death
  • Paid premiums are exempted from income tax under 80C
  • Maturity amount is tax free under 10 (10D)
Category:

Death benefit illustration

In case of unfortunate death of policy holder during policy term, this plan proivides 10% of sum assured every year till maturity and again at competion of policy term maturity amount is also payable. To understand this benefit, let’s suppose death happens 10 year after taking this policy, age of the policy holder and year at time of death will 38 and 2024 repectively. 10% of sum assured will be payable from year of death till maturity and on completion of the policy term maturity benefit will be also provide. Following table provides year-wise details.

End of Year Year Premium Paid Return in case of death Remarks
1 2015 52455 0
2 2016 52455 0
3 2017 52455 0
4 2018 52455 0
5 2019 52455 0
6 2020 52455 0
7 2021 52455 0
8 2022 52455 0
9 2023 52455 0
10 2024 0 100000 Unfortunate death happens
11 2025 0 100000
12 2026 0 100000
13 2027 0 100000
14 2028 0 100000
15 2029 0 100000
16 2030 0 100000
17 2031 0 100000
18 2032 0 100000
19 2033 0 100000
20 2034 0 100000
21 2035 0 2108000 Maturity Amount
Total 524550 3208000 Maturity + Yearly Income

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