LIC Jeevan Lakshya Plan is a an endowment plan of LIC that offers investment as well as insurance benefits. it’s a participating product, so this plan is eligible for bonus. In the case of the policyholder ‘s death, the nominee receives a regular yearly benefit in addition to a lumpsum on Maturity amount at the end of policy term.
Frequently Asked Questions
This is an endowment plan of LIC.
LIC Jeevan lakshya can be taken for the benefit of child future and education as there is inbuilt premium waiver benefit. In case of death of proposer parent , the child can get yearly benefit as well as maturity amount without paying premium.
Premium payment term in Jeevan lakshya is always three years less then the policy term.
In case of the death of the insured person before the end of the term, the policyholder’s nominee will receive 10% of the Basic Sum Assured as an Annual guaranteed Income from the next policy anniversary date to the one year before the policy Maturity Date. Additionally on maturity 110% of the Basic Sum Assured and accumulated Simple Reversionary Bonus which has accrued throughout the policy term plus Final Addition Bonus if any declared.
