Jeevan Lakshya(933)

  • Plan : Jeevan Lakshya(933)
  • Product Summary : This is a limited premium paying term conventional With-Profits Endowment Assurance plan where premium paying term is less than policy term by three years.
  • Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly(ECS)
  • Term : 13 to 25 Years
  • PPT : (Policy Term - 3) Years
  • Minimum Entry Age : 18Years Completed
  • Maximum Entry Age : 50Years (Nearest Birthday)
  • Maximum Maturity Age : 65 Year (Nearest Birthday)
  • Minimum Sum Assured : 1,00,000
  • Maximum Sum Assured : NO LIMIT (Depending upon Income)
  • Maximum Accidental Death and Disability Benefit Rider up to age 65.

Policy Benefits :

On Death :
Benefits payable on death:
Sum Assured on Death + Bonuses and Final Additional Bonus, if any, shall be payable in following manner.
Annual Income Benefit equal to 10% of the Basic Sum Assured (till policy anniversary prior to date of maturity).
Assured Absolute Amount of 110% of Basic Sum Assured, payable (on due date of maturity).
Along with Bonuses and Final Additional Bonus, if any, on maturity. (on due date of maturity).

On Survival :
On survival Basic Sum Assured + Vested Bonus + FAB if any.

Surrendered Value :
The Policy can be surrendered at any time during the policy term provided atleast 2 full years premiums have been paid.

Loan :
Available after payment of premium of 2 full years.

Income Tax Benefit :

  • Premium paid under this plan is eligible for TAX rebate under section 80c.
  • Maturity under this plan is free under sec 10(10D).