LIC Jeevan Lakshya (833)

LIC Jeevan Lakshya (833) plan is a limited premium paying term conventional With-Profits Endowment Assurance plan of LIC where premium paying term is less than policy term by three years.

Below are some of the additional details of this plan. To get more information, contact us using the "Contact Form" option on this blog.

Premium Payment Mode:
Yearly, Half yearly, Quarterly, Monthly(ECS)

Term :
13 to 25 Years

Premium Paying Term (PPT) :
(Policy Term - 3) Years

Minimum Entry Age :
18Years Completed

Maximum Entry Age :
50Years (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.

Policy Benefits :
On Death :
Benefits payable on death:
Sum Assured on Death + Bonuses and 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 and Final Additional Bonus, if any, on maturity. (on due date of maturity).

On Survival :
On survival Basic Sum Assured + Vested Bonus + FAB if any.

Surrender Value :
The Policy can be surrendered at any time during the policy term provided atleast 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).