Jeevan Lakshya is an excellent policy designed to ensure financial protection for your family in case of the policyholder’s untimely demise, while also providing savings and lump-sum benefits for future financial goals.
Key Features:
- Provides annual income to the family in case of the policyholder’s death before maturity.
- Lump-sum payment of maturity benefits ensures financial goals are met, even in the absence of the policyholder.
- Participates in LIC’s profit by accruing bonuses.
- Policyholders can avail loans after paying premiums for a minimum specified period.
- Tax benefits on premiums paid and maturity benefits under Section 80C and 10(10D) of the Income Tax Act.
Eligibility Criteria
- Minimum Entry Age: 18 years
- Maximum Entry Age: 50 years
- Policy Term: 13 to 25 years
- Minimum Basic Sum Assured: ₹1,00,000
- Maximum Basic Sum Assured: No limit
- Maximum Maturity Age: 65 years
Benefits:
- Maturity Benefit:
On surviving the policy term, the Basic Sum Assured, accrued bonuses, and Final Additional Bonus (if any) are paid as a lump sum. - Death Benefit:
In case of death before maturity:- 10% of the Basic Sum Assured is paid annually to the nominee until the policy term ends.
- Upon maturity, the full Basic Sum Assured along with bonuses is paid.
- Total Death Benefit will not be less than 105% of the total premiums paid.
- Tax Benefits:
Premiums paid and benefits received qualify for tax exemptions under the Income Tax Act, 1961.
Premium Payment:
- Premiums are paid during the policy term, excluding the last three years.
- Payment modes: Yearly, Half-Yearly, Quarterly, or Monthly (ECS only).
Bonuses:
- Simple Reversionary Bonuses are added annually during the policy term.
- Final Additional Bonus may be payable on maturity or death if applicable.
Example Scenario:
Policyholder: Ramesh
Age at Entry: 30 years
Policy Term: 20 years
Basic Sum Assured: ₹10,00,000
Annual Premium: ₹48,000 (approximate)
In Case of Death During the 10th Year:
- Annual Income: ₹1,00,000 (10% of Basic Sum Assured) paid every year for 10 years.
- On Maturity: ₹10,00,000 (Basic Sum Assured) + Bonuses (approx. ₹6,00,000).
On Maturity (If the Policyholder Survives):
Ramesh receives ₹10,00,000 (Basic Sum Assured) + ₹5,00,000 (Bonuses) + ₹1,00,000 (Final Additional Bonus), totaling ₹16,00,000.
Loan Facility:
Loan can be availed after paying premiums for at least three years, subject to conditions.
Exclusions:
- Suicide within the first 12 months of the policy will result in a refund of 80% of the premiums paid.
Why Choose Jeevan Lakshya?
This plan ensures that your family’s financial needs are met even in your absence while helping you build a financial corpus for future goals like education or marriage.
Contact Us to Learn More:
Call/WhatsApp: +91 7036557621
Email: info@nalgondalic1969.in
Visit: Jeevan Jyothi Buildings, Beside Court, Nalgonda, 508001
Stay protected and secure your future with Jeevan Lakshya!