LIC Jeevan Lakshya


Last updated on September 3rd, 2017 at 09:34 am

LIC Jeevan Lakshya is a participating non ULIP plan which provides a mix of protection and savings. This plan offers for Yearly Income benefit that may assist to meet the needs of the family members, mainly for the benefit of kids, in case of unfortunate death of Insurance policy holder any time prior to maturity and a lump sum total at the time of maturity regardless of survival of the Insurance policy holder.

Jeevan Lakshya Plan Features

  • Here are some wonderful benefits of buying this plan:
  • Save on a regular basis to build a significant corpus on maturity
  • Offered in a different range of terms – from 13 to 25. You can align the maturity according to Other’s career requirements
  • Minimal premium term – Pay 3 years less than the term
  • On maturity get Sum Assured + Bonus + Final Bonus (if any)
  • On loss of life, following benefits are payable:
  • ● 10% of sum assured – every year till one year less than maturity date +  110% of sum assured on maturity date + All bonuses and Final Bonus (if any) for the entire term on maturity date
  • Boost the security benefits by  riders: Accidental Death & Disability Benefit Rider and Term Rider
  • Loan is offered any time after 2 policy years.
  • Policy can be back dated within just the same financial year
  • Premium Paid is TAX EXEMPTED u/s 80 C.
  • All returns from the policy are TAX FREE u/s 10 (10) (D)
  • Free lookup period for 15 days.

Eligibility Conditions

Particulars Min Max
Age   18 50
Policy Term 13 Yrs 25 Yrs
Sum Assured Rs. 1 Lakh No Limit
Premium Mode Yly, Hly, Qly, Mly, SSS
Mix of protection and savings

Jeevan Lakshya Benefit illustration

Illustration specially prepared for Mr. Sanjay (age 28 years)
Benefits Illustration LIC Jeevan Lakshya Plan 
Sum Assured Rs. 5,50,000
Term 25 years
Premium Sanjay’s Yearly premium under this policy is Rs. 23,577. In 22 years he will pay a total of Rs.5,10,021.
LIC Jeevan Lakshya Maturity Benefits:
Policy Year Guaranteed  Bonus Total
25 5,50,000 9,21,250 14,71,250
Life Cover This is the high protection plan where his risk cover will go upto Rs. 28,46,250
Liquidity Mr. Sanjay has an option to surrender the policy & receive the cash value after payment of 3 Yearly premiums. Alternately, he can even avail of loan on this policy once the policy has acquired cash value.


Build a significant corpus on maturity

Important Note:

  • Income Tax: Sec. 80C Limit Available: 1,50,000. Tax Savings on premiums will be @ 30.90 % u/s 80C
  • Jeevan Lakshya Bonus: For the purpose of illustrating the projected benefits, last declared reversionary bonus of LIC’s New Endowment plan has been considered.
  • Terminal Bonus: Last declared terminal bonus of their respective matching discontinued plans has also been considered.
  • The above mentioned illustration is depending on specific presumptions which are likely to change based on Government/Corporation’s policies.
  • The figures shown are in Indian Rupees.


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