LIC Jeevan Lakshya Plan: key features, benefits and more.

LIC Jeevan Lakshya is a participating non-linked plan which offers a combination of protection and savings. This plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder. This plan also takes care of liquidity needs through its loan facility.

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How does LIC Jeevan Lakshya Policy work?

When buying the LIC Jeevan Lakshya Plan, the customer has to decide on the following:

1. Basic Sum Assured – this is the amount of coverage that you want. You can choose a minimum amount of Rs. 1,00,000. There is no upper limit.
2. Policy Term – this is the period for which you wish to have the cover. The term can be anywhere between 13 to 25 years
3. Premium Payment Term – You need to pay the premiums for the Policy Term minus 3 years only.

Based on the basic sum assured, your age, and the policy term selected. your annual premium will be decided. 

Since it is a Participating plan, you will receive Simple Reversionary Bonus and Final Additions as and when declared by LIC.

How does LIC Jeevan Lakshya Policy work?

When buying the LIC Jeevan Lakshya Plan, the customer has to decide on the following:

1. Basic Sum Assured – this is the amount of coverage that you want. You can choose a minimum amount of Rs. 1,00,000. There is no upper limit.
2. Policy Term – this is the period for which you wish to have the cover. The term can be anywhere between 13 to 25 years
3. Premium Payment Term – You need to pay the premiums for the Policy Term minus 3 years only.

Based on the basic sum assured, your age, and the policy term selected. your annual premium will be decided. 

Since it is a Participating plan, you will receive Simple Reversionary Bonus and Final Additions as and when declared by LIC.

Eligibility Criteria for buying LIC Jeevan Lakshya Policy