Is LIC Jeevan Lakshya a good policy?

For the financial security of children and family, LIC Jeevan Lakshya Plan (Plan No: 933) is the most suitable one. It is a collection of savings plus it covers the risk factor. It is a limited premium paying plan which is not at all linked and classified With- Profits Endowment Assurance plan.

Is Jeevan Lakshya tax benefit?

Tax benefits- Under the income tax act of 80C the premium paid under this plan is permissible for availing rebate on annual income tax and as per section 10 D the maturity amount is free from tax.

What is term Rider in Jeevan Lakshya?

Riders offered by LIC Jeevan Lakshya Plan LIC’s New Term Assurance Rider : This rider provides life cover in case of unfortunate death of the insured during the policy term. The rider can be attached to the base policy for extra premium at the inception of the policy.

Can we surrender Jeevan Lakshya policy?

Similar to the most endowment plans of LIC, Jeevan Lakshya (833) can be surrendered any time during policy term provided that all premiums for first 3 years have been paid.

Can I close my LIC policy after 5 years?

Moreover, if you have paid your premiums for more than four years, but less than five years, then you will receive 90% of the total maturity sum assured as a special surrender value. A 100% special surrender value is given out if the policyholder has regularly paid the premiums for five years.

Which LIC policy is best for salaried?

Top 6 LIC Plans In India 2020

LIC Plans Type of Plan Policy Term (in years)
LIC Jeevan Amar Pure Term Insurance plan 10 – 40
LIC Tech Term Plan Pure Term Insurance plan 10 – 40
LIC New Children’s money-back Plan Traditional money-back Child Plan 25 years – Age at Entry
LIC New Jeevan Anand Endowment Plan 15 – 35

How to calculate LIC Jeevan Lakshya plan premium?

LIC Jeevan Lakshya Plan (833) Premium Calculator | Complete Premium with Maturity risk cover. Following premiums are sample and calculated as per parameters given in first table. Please use above calculator to calculate premiums and benefits as per your AGE, TERM and SUM ASSURED (SA).

How old is Vinod of LIC Jeevan Lakshya?

Consider Mr. Vinod has availed LIC Jeevan Lakshya for a term of 30 years. His current age is 25 and the sum assured is 20 lakhs. Let’s list out the initial details of how the policy would work in his case –

Can You avail long against LIC Jeevan Labh plan?

Loan – You can avail a long against this policy after you have paid 3 years of premium. Surrender Value – If you surrender the plan anytime before paying 3 years of premiums, you will not be paid anything back. In case you have paid at least 3 years premiums, the policy will acquire a Surrender Value.

Which is an example of Jeevan Lakshya plan?

To understand Jeevan Lakshya Plan, Lets take an example of a person who is purchasing Jeevan lakshya Plan with following details. Since Premium paying term is 3 year lesser than policy term, so premium will be payable for 18 (21-3) years in this case.