LIC Jeevan Lakshya Plan (Table No:833)

LIC’s Jeevan Lakshya policy is a combination of risk cover and saving plan which is most suitable for the purpose of providing financial security of children and family. This policy provides life cover during the policy term and Sum Assured + Bonuses on survival as maturity. In case of death of policy holder during the policy term, this policy provides 10% of sum assured every year till maturity and on maturity it again provides 110% of Sum Assured + Bonuses as maturity.

Key Features

  • Annual Income in case of death
  • Sum assured + Simple Reversionary Bonus + Final Addition Bonus as maturity.
  • Annual Income feature can be used as child education in case of death
  • Paid premiums are exempted from income tax under 80C
  • Maturity amount is tax free under 10 (10D)

Plan Parameters

Age of Entry 18 to 50 years
Calculate your Age
Premium Paying Mode Yearly, Half Yearly, Quarterly, Monthly (ECS Only)
Calculate Premium
Policy Term 13 to 25 years
Premium Paying Term (Policy Term - 3) years
Sum Assured 100000 and above (in multiples of 10000)
Premium Mode Rebate 2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly
High Sum assured Rebate 0% of SA on 0 to 2,00,000
2% of SA on 2,00,000 to 4,90,000
3% of SA on 5,00,000 and above
Loan After 3 Years
Surrender After 3 Years [ Surrender Value Calculator]
Revival Within 2 Years of Lapse

Death benefits

  • In case of death of policy holder during policy term, 10% of Sum Assured will be provided to nominee every year till one year prior to maturity, and
  • On maturity, 110% of Sum Assured + Simple Reversionary Bonus + Final Addition Bonus will be payable as maturity amount.

Maturity benefit

  • Sum Assured + Simple Reversionary Bonus + Final Addition Bonus will be payable as maturity amount. .

Illustrations with Example

To understand Jeevan Lakshya Plan, Lets take an example of a person who is purchasing Jeevan lakshya Plan with following details.

Sum Assured: Rs. 10,00,000
Policy Term: 21 Years
Premium Paying Term: 18 Years
Policy Purchase Year: 2015
Age: 28 Years
Yearly Premium: Rs. 52455

Calculate premium other than above, Click Here

Since Premium paying term is 3 year lesser than policy term, so premium will be payable for 18(21-3) years in this case.

Maturity benefit illustration

At maturity, Jeevan Lakshya provides Sum Assured + Simple Reversionary Bonus + Final Addition as maturity amount on survival of policy holder. Following table indicates the maturity details.

Year Sum Assured (Guaranteed)Bonues (Variable)Maturity Amount (Approx)
2036 10,00,000 11,08,000 21,08,000

Death benefit illustration

In case of unfortunate death of policy holder during policy term, this plan proivides 10% of sum assured every year till maturity and again at competion of policy term maturity amount is also payable. To understand this benefit, let's suppose death happens 10 year after taking this policy, age of the policy holder and year at time of death will 38 and 2024 repectively. 10% of sum assured will be payable from year of death till maturity and on completion of the policy term maturity benefit will be also provide. Following table provides year-wise details.

End of Year Year Premium Paid Return in case of death Remarks
1 2015 52455 0  
2 201652455 0  
3 201752455 0  
4 201852455 0  
5 201952455 0  
6 202052455 0  
7 202152455 0  
8 202252455 0  
9 202352455 0  
10 20240 100000 Unfortunate death happens
11 20250 100000  
12 20260 100000  
13 20270 100000  
14 20280 100000  
15 20290 100000  
16 20300 100000  
17 20310 100000  
18 20320 100000  
19 20330 100000  
20 20340 100000  
21 2035 0 2108000 Maturity Amount
Total 524550 3208000 Maturity + Yearly Income

Comments & Reviews (79)

Wrote :

20-04-2019 19:57:17

In the LIC Jeevan Lakshya plan, is there premium waiver benefit is implied in case of death of policy holder? Please clerify

Wrote :

21-04-2019 12:06:38

Yes, in case of policyholder's death, no further premiums are required to be paid.

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Wrote :

26-03-2019 16:32:09

Hi, Please tell me, If i surrender Jeevan Lakshya (833) policy after completion of 3 year. Will i get full amount equal to premium paid till date or less?

Wrote :

27-03-2019 21:23:19

Surrender after 3 years would not avail full paid premiums. it will be approximately 40% of total paid.
Link: Surrender Value Calculator

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Wrote :

14-03-2019 13:19:37

Sir, I am looking for Jeevan Lakshay plan with term rider and accidental rider benefits. I want to know that if during policy, insured person dies, then nominee will get sum assured plus 10% in normal death and in case of death in accident, the nominee will get double of the sum assured with 10% yearly apart from final maturity amount at the time of expiry policy. I have also question that who has also a Jeevan Lakshay of less amount, then he can again purchase the same plan with some higher sum assured.

Wrote :

14-03-2019 20:57:56

Yes, you can purchase it again, please do not forget to disclose previous policies at the time of buying new one.

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Wrote :

13-03-2019 12:50:03

Sir If I have a jeevan Lakshya policy with A Term Rider Of Accident Death Benefit .I Have not taken any Other rider.Then What Will My Nominee Get If I Die In normal Condition

Wrote :

13-03-2019 17:09:18

If term rider has been taken, then nominee will get sum assured (generally term rider sum assured is same as basic sum assured) just after the death and every year on policy anniversary, 10% of sum assured till one year prior to maturity years. On maturity, 110% of SA + Bonus + FAB, again.

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Wrote :

12-03-2019 22:03:47

Sir I'm confused as some tells in case of Death Nominee will get three benefits 1. Sum assured immediately.
2. Will get 10% of sum assured annually.
3. Again will get 110% of sum assured+B+FAB.

Wrote :

13-03-2019 17:13:37

Point 2 and 3 are right. For point 1, you must have term rider with your Jeevan Lakshya Plan.

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Wrote :

10-03-2019 12:28:31

If I m holding previous LIC policies. What other documents do I require to take Jeevan Lakshya 833?

Wrote :

10-03-2019 14:32:35

You have to take it as fresh policy and mentioned previous policies of lic in proposal form at the time of buying new one.

Wrote :

10-03-2019 21:10:55

Can you please tell what documents require?

Wrote :

11-03-2019 14:19:53

Normally, address proof, id proof, age proof( PAN, 10th markseet etc) are required. For higher sum assured, income proof like salary slips, income tax return are also required.

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Wrote :

06-03-2019 09:20:43

Sir I have a Jeevan Lakshya policy in which I did not choose any term rider. If I die unfortunately in natural condition. Then an immediately amount of sum assured my family get or not

Wrote :

06-03-2019 11:29:28

If term rider is not taken and death happens, nominee will not get sum assured immediately, rather nominee will get 10% of sum assured each year till one year prior to maturity years.

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Wrote :

07-02-2019 21:50:25

1.My daughter documents are required or not , 2.If policy holder unfortunate death after 1 year of taking the policy then also 10% every year will be paid to nominee and so on....

Wrote :

07-02-2019 23:02:18

1. Policy should be in your name, so no documents of your daughter will be required. Daughter should be nominee.
2. Yes, every year 10% sum assured till one year before maturity year and on completion of policy term, 110% SA + Bonus + FAB.

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Wrote :

07-02-2019 17:44:08

Which plan is best 833 or 815... Or is there any plan of LIC which give high returns.

Wrote :

07-02-2019 23:22:40

Both plans provides different benefits, please read details of these plans and decide. In case of any query please write back.

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Wrote :

03-02-2019 19:52:44

Hello I am 32 years and my daughter is 1 month old .i m looking for policy no 833 ,834,836 i am confused which to adapt...need is saving foremost but also insurance......

Wrote :

04-02-2019 14:56:15

You may look for Jeevan lakshya with term rider.

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Wrote :

21-01-2019 22:13:28

ANGAD JI YOU NOT PAY 25 YEARS PREMIUM YOU PAY 22 YEARS PREMIUM FOR MORE QUERY CALL ME

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Wrote :

07-01-2019 09:39:38

Hello Sir, in jeevan lakshya 833 policy, do I need to pay any extra amount for the Term Rider or Accident Rider apart from my regular premiums? Also, how is 6% return rate calculated on this policy. FOR EXAMPLE, if I pay 125000 premium annually for 25 year policy, I end up paying total premium over 25 years is around 32 lacs. But the LIC Agent says that I will get almost the double of 32 lacs, but this doubled amount will not be mentioned on the policy document. So, how is this possible? How LIC applies 6% return in this case? How this 6% rate applied to double the amount? Is it like the home loan interest rate, in which we pay the interest amount which is double the actual home loan amount taken? Kindly help.

Wrote :

07-01-2019 23:43:02

If you want benefit of thiese riders then only you need to pay for these riders.

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Wrote :

12-12-2018 11:31:57

In the Jeevan Lakshya plan , the total maturity amount is tax free? Total maturity amount = Sum assured + Bonus + final addition bonus. Is that three are purely tax free?

Wrote :

12-12-2018 13:29:41

Maturity and death claims are tax free.

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Wrote :

06-12-2018 19:06:12

if u want any quary of LIC please contact me 9711113714

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Wrote :

13-11-2018 23:01:30

I want to know table no Table no 814 and 833 are combined policy. If it is true please tell me the hole policy name.

Wrote :

14-11-2018 08:53:22

No, both are separate policies. You can take any number policies of each plan. Benefits will be separate.

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Wrote :

09-10-2018 09:49:16

For Double Accident Benefit or other rider Medical plan is necessary in 833 plan

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Wrote :

17-09-2018 13:02:39

Replied exactly.... It is very much benefited to Policy Holder in case of death (natural or accidental). Policy Holder should look at the value what he is paying and what he is getting either against death or on maturity. That end the matter of selecting basic plan. When we compare this with Jeevan Anand, Jeevan Anand is better than this....

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Wrote :

02-09-2018 00:05:48

Sir i want to know one thing in jeevan lakshya plan if i haved paid 6months term amount and if my death happens unfortunately or accidental while there be any benefit to my family

Wrote :

03-09-2018 00:55:02

Yes, your nominee will get 10% of sum Assured every year till one year before maturity and on completion of policy term i.e. on maturity, your nominee will get 110% of Sum Assured + Bonus+ FAB.

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Wrote :

11-08-2018 20:59:30

I am planning to start Jeevan Lakshya plan and agent is telling. In case of any death, nominee will get 10% of sum insure every year till policy period and immediate full payment of life insured and again full maturity with bonus at the time of final maturity but no website or link has put immediate full sum insured payment at the time death, is that true or not?

Wrote :

12-08-2018 11:29:40

He must be including term rider with your jeevan lakshya which will provide term rider sum assured immediately after death apart from 10% of sum assured on yearly basis.

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Wrote :

05-08-2018 01:11:47

Please provide name of kanyadan policy of lic and how it work

Wrote :

05-08-2018 22:31:08

It is combination of Jeevan Lakshya Policies.

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Wrote :

26-07-2018 16:49:42

Is kanyadaan policy and Jeevan lakshya 833 policy are same?

Wrote :

29-07-2018 14:09:09

No, it is not the same, but combination of jeevan lakshya 833 is being conceptualized as kanyadaan policy by various agents and advisors.

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Wrote :

14-07-2018 12:51:43

at what time death cover risk start in lic 833 plan

Wrote :

14-07-2018 21:22:45

It will start immediately.

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Wrote :

09-07-2018 11:48:50

If I wish to withdraw the policy after three or four year payment then what will be the system and how much get the amount against the same?

Wrote :

12-07-2018 00:04:05

Please use this calculator and calculate it yourself.

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Wrote :

27-06-2018 16:27:11

Jeevan Labh policy is realated to share market or not

Wrote :

03-07-2018 00:36:43

It is not dependent on share market.

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Wrote :

07-04-2018 12:49:28

Sir, LIC Jeevan Lakshya Plan (Table No:833) is this share market releted plan?

Wrote :

07-04-2018 14:30:25

No, it is not share market based plan. It is bonus based plan and bonus will be according to profit of LIC.

Wrote :

14-06-2018 01:12:14

In jeevan lakshya in case of natural death of the policy holder the nominee will get the returns or is it only on accidental death??

Wrote :

14-06-2018 09:33:31

Natural death is also covered for death claim.

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Wrote :

16-01-2018 13:48:39

Hello is there a minimum premium paying period like 10 years. Kindly update. Thanks Regards, Vincent

Wrote :

16-01-2018 22:51:16

Yes, with Policy Term 13 you can have Premium Paying Term (PPT) as 10 years (13-3).

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Wrote :

12-01-2018 17:26:46

sir, I want to take Jeevan lakshya policy for the sum assured 40 lakhs, my age is 30yrs, working in a private company, should i need to go for medical test, if so what are the tests to be done ???

Wrote :

13-01-2018 22:44:12

Yes, Medical tests shall be required in your case.

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Wrote :

27-12-2017 13:45:28

hi this plan & kandyadan plan same or not

Wrote :

28-12-2017 00:13:28

No, this is not kanyadan policy.

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Wrote :

05-12-2017 23:18:05

Hi plz tell me that jeevan lakshya or sukanya samridhi yojana policies are same or not.

Wrote :

05-12-2017 23:56:36

No, these are not the same plans.

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Wrote :

18-11-2017 08:10:55

Sir I have already two Jeevan Lakshya policies with different nominees. Now I want to have third one with another nominee. I want to know if I die before maturation of these policies will my family members get benefit of all three policies (all three nominees are my family members).I mean will they get yearly benefits of three policies separately.

Wrote :

18-11-2017 21:23:34

Yes, You can take third policy, all you need to do is to mention earlier taken policies in proposal form while taking new policy.

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