LIC Jeevan Lakshya Plan (Table: 933) Maturity Calculator

Enter your age, term and Sum Assured with optional riders to calculate benefits of Jeevan Lakshya Plan (933).

About Jeevan Lakshya Plan (933) Maturity Calculator

LIC’S Jeevan Lakshay Plan is a unique plan which ensures cash flow in case of untimely demise of the policyholder. It provides 10% of Sum Assured every year to the nominee for the remaining policy years and; the nominee doesn’t has to pay the remaining premiums. The policy is available to anyone between 18 and 50 years of age and the term of policy can be anywhere between 13-25 years. The Premium Payment Term (PPT) is 3 years less than the policy term i.e. if a policy matures in 13 years; one has to pay premium only for 10 years

Maturity: The maturity benefits of the plan would become available after the completion of policy term. Maturity amount is equal to basic Sum Assured + Accumulated Simple Revisionary (Bonus) + Final Additional Bonus (FAB). Bonus is declared for each policy year and it gets accumulated to the policy. FAB is a onetime bonus and it is declared in the year of maturity.

Death Benefit (Life Cover): ): Death Claim is paid to the nominee in case of death of policyholder during the policy term. It is 10% of Basic Sum Assured for each year starting from next policy anniversary till the year preceding the maturity year ( one year before/prior the maturity year). After completion of the policy term(maturity), Death Sum Assured(110% of BSA) + Accumulated Bonus of policy term+ FAB(if any) is paid to the nominee again and the policy terminates.

Accidental Death & Disability Benefit (AD & DB) Rider: One can pay additional premium and opt for AD& DB Rider if they are 18(or above) years of age. It would provide additional death claim amount in case of accidental death. For cases where accident causes permanent disability, all further premiums of the rider and base plan are waived off; and the Sum Assured amount would be paid in monthly installments over the next 10 years.

Term Rider: : On payment of additional premium Term Assurance Rider can be opted for along with Jeevan Lakshya Plan. . It provides additional Death Claim amount equal to Term Rider Sum Assured to nominee if the policyholder dies during the policy term. Keep in mind that if the policyholder completes(survives through) the policy term , he won’t get any maturity value. But we highly recommend choosing Term Assurance Rider as it immediately provides a handsome amount to the nominee in case of untimely and unfortunate demise of the policyholder.