Jeevan Lakshya Plan No. 933 is a non-linked, limited premium ,with-profits Endowment Plan. Premiums are payable for 3 years less than Policy terms.
Jeevan Lakshya Features & Conditions:
Minimum age at entry: 18 years (Completed)
Maximum age at entry: 50 years (Nearer Birthday)
Maximum maturity age: 65 years (Nearer Birthday)
Policy Term: 13 to 25 years.
Premium Paying Term (PPT): ( Policy Term -3) Years
Minimum Sum Assured: 1,00,000/-
Maximum Sum Assured: No limit
Available Riders:
LIC’s Accidental Death and Disability Benefit Rider or Accident Benefit Rider, Term Rider & Critical Illness Rider.
Payment Modes of Premium:
Yearly, Half Yearly, Quarterly & Monthly (SSS & NACH)
Rebates:
Mode Rebate: – Yearly Mode : 2%, Half Yearly Mode : 1 %
Grace Period:
15 Days for monthly premium payment mode and 30 days for other payment modes.
Claim Concessions:
Available under Base Plan only.
Paid-up Value of policy:
Available after payment of premium of 2 full years.
Surrender:
Available after payment of premium of 2 full years.
Policy Loan Benefits:
Available after payment of premium of 2 full years.
Revivals:
Within 5 years of First Unpaid Premium (FUP)
Back Dating:
Allowed with lean Month’s benefits.
Proposal Form:
Form 300 or Form 340
Tax Benefits:
On Premium Paid : Deduction under Section 80C of Income Tax
Maturity Amount: Exempt u/s 10(10D)
Death claim : Exempt u/s 10(10D)
All Jeevan Lakshya Plan No. 933 Details with example are available in Video. Please check the Video given below.
SUM ASSURED ON DEATH:
Income Benefit (10% of basic Sum assured Payable from Policy anniversary after death till Policy anniversary before maturity) + 110% of Basic Sum Assured payable on Maturity.
DEATH BENEFIT:
Sum assured on Death + Bonus for full term + Final additional bonus, if any, Payable on Maturity.
MATURITY BENEFIT:
Basic Sum Assured + Vested Bonus + Final additional bonus if any.
Maturity/Death Claim in Installments for 5/10/15 years for Full or Part of Maturity/Death Claim Amount: Option to be exercised -3 months before Maturity and for Death Claim during lifetime by Life Assured.
Non -Medical Schemes: All Allowed.
Age Proofs: All Allowed.
Female Lives: All Allowed.
Pregnant ladies: Cat Al only up to 24 weeks of pregnancy.
Keyman/Partnership/Empl-Employee:
Allowed only under Employer-Employee
Example
