Jeevan Lakshya (833)
- Non – linked, with-profits, limited premium payment endowment plan for the age group of 18 years to 50 years.
- This plan covers high risk cover with moderate premium rate.
- A unique point of this plan is high risk coverage with limited premium paying term. Premium is payable up to policy term minus 3 years.
Certain important features of the plan are.
1 – Minimum 13 years term to maximum 25 years. Maximum maturity age is 65.
2 – Sum assured – Minimum Rs. 1,00,000 to maximum no limit ( subject to certain condition ) in multiples of Rs. 10,000.
3 – Wide range of premium modes available, Yearly, half-Yearly, quarterly and monthly (ECS only or through salary deduction – SSS) .
4 – LIC’s accidental death and disability benefit is available up to Rs. 1 crore (against Rs. 50 lakhs in other plans) as an optional rider with additional premium.
5 – Loan facility available, provided full 3 years premium is paid and policy is in force.
6 – Policy can be surrendered at any time during the policy term, if it is in force.
Benefits
- A) Maturity Benefit:
- On maturity, at the end of policy term, basic sum assured along with vested simple reversionary bonuses and final additional bonus, if any.
- B) Death Benefit
- In case of unforeseen death during the policy period of in force policy, 10% of sum assured is payable every year from date of death till 1 year prior to the maturity. Premium ceases from death date. If it is accidental death, an amount equal to accident benefit will be paid immediately.
In addition, additional 110% of basic sum assured with bonus and final additional bonus, if any shall be payable to the nominee on maturity death.