LIC Jeevan Lakshya is plan designed to provide
benefit or financial assistance to the beneficiary as regular Annual Income. This plans
provides annual benefits to the family of policy holder in case of unfortunate
death of the policy holder and a lump sum amount is payable irrespective of
survival of the Policy holder at the time Maturity. Related information regarding this plan is as under –
1. Plan's Details:-
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Particulars
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Details
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Payment Mode
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Yearly, Half-Yearly,
Quarterly, Monthly
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Term
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13 to 25 Years
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Premium Paying Terms
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(Policy Terms -3)
Years
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Minimum Entry Age
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18 Years (Completed)
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Maximum Entry Age
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50 Years (Nearest
Birthday)
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Maximum Maturity Age
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65 Years (Nearest
Birthday)
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Minimum Sum Assured
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Rs. 100000
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Maximum Sum Assured
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No Limit
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Maximum Accidental Death and Disability Benefit Rider
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Up to the Maximum age of Maturity (i.e. 65 Years)
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2.
Policy Benefits:-
Ø On
Death –
Sum Assured on Death + Bonuses & Final Additional Bonus,
if any, shall be payable in following manner-
- Assured Absolute Amount of 110% of Basic Sum Assured, Along with Bonuses & Final Additional Bonus, if any, payable (on due date of maturity)
- Annual Income Benefit equal to 10% of the Basic Sum Assured (till policy anniversary prior to date of maturity)
Ø On
Survival –
Basic Sum Assured along with Bonus and Additional Final
Bonus, if Any
Ø
On Surrender-
Policy can be
surrendered provided atleast three full years Premium has been paid. The
Percentage of surrender value depends upon the Policy Term and year in which
such policy has been surrendered.
3. Benefits under Income Tax-
Following Benefits are
available in regards to Income Tax-
Ø Amount of Premium Paid is eligible
for deduction u/s 80C
Ø Amount received on maturity is
exempt u/s 10(10D)
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