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Plan No. 933Endowment
LIC's Jeevan Lakshya
"Secure your family's dreams, no matter what."
Participating non-linked plan providing annual income benefit for the family in case of unfortunate death of Policyholder before maturity.
Key Features
- ✓Annual Income Benefit: 10% of Basic Sum Assured paid annually if policyholder dies.
- ✓Premium Waiver: In case of death, all future premiums are waived.
Eligibility Criteria
Minimum Age18 Years
Maximum Age50 Years
Minimum Term13 Years
Maximum Term25 Years
Min Sum Assured₹ 1,00,000
Max Sum AssuredNo Limit
Plan Benefits
Death Benefit
10% of Basic Sum Assured paid annually until maturity.
Survival Benefit
N/A
Maturity Benefit
110% of Basic Sum Assured + Bonuses.
Real-World Example
Profile35-Year-Old Father
Sum Assured₹ 10,00,000
Term Details21 Years (Premium Paying Term: 18 Years)
Annual Premium₹ 54,000 / Year
Expected ReturnsMaturity of ₹ 21,50,000
How it Works
He takes this plan for his child's education (due in 21 years). If he survives, he gets ₹ 21.5L. But if he dies in the 5th year: (1) All future premiums are waived. (2) His family gets ₹ 1 Lakh (10% of SA) every year from the 6th to 20th year to manage expenses. (3) At the 21st year, they still get the full ₹ 21.5L maturity amount for the child's education!