LIC Jeevan Lakshya Plan is an endowment plan which is most suitable for those parents who want to secure their child’s future even in case of sad demise with them. This plan is famous as LIC Kanyadaan Plan as in case of any mishappening with the parents this plan provides the assured return at the time of maturity and in addition to maturity, this plan also provides 10% of sum assured every year to the child for their basic education purpose and that too is without any premium burden over other family members.
LIC Jeevan Lakshya Plan – USP’s
Let’s check some unique selling points of Jeevan Lakshya Plan
Best plan for aspiring parents for their child education & marriage purpose.
Inbuilt premium waiver benefit helps the family for fulfilling their other liabilities in case of sad demise with the parents.
Income benefit of 10% every year ensures child basic education in absence of the policyholder.
Assured maturity with 10% extra sum assured helps in child marriage or higher education.
Jeevan Lakshya Plan is available with helpful add-on riders like accidental rider and term rider for extra benefits to the policyholder.
Double tax benefit of section 80C and 10(10D).
Policyholders can avail loan facility on this plan after completing 3 years.
Maturity Benefit:
- Sum Assured + Simple Reversionary Bonus + Final Addition Bonus will be payable as maturity amount.
Death Claim Benefit:
- In case of death of policy holder during policy term, 10% of Sum Assured will be provided to the child each year till the maturity(Also all future premiums will be waived), and
- On maturity, Sum Assured + Simple Reversionary Bonus + Final Addition Bonus will be payable as maturity amount.
Eligibility Criteria:
| Minimum Age to Apply | 18 Years (Completed) |
| Maximum Age to Apply | 50 Years (Nearest Birthday) |
| Policy Term | 13 to 25 years |
| Premium Paying Term (PPT) | (Policy Term – 3) years |
| Maximum Maturity Age | 65 Years |
| Premium Paying Mode | Yearly, Half Yearly, Quarterly, Monthly (SSS & NACH) |
| Sum Assured | ₹100000 and above (in multiples of ₹ 10000) |
| Loan | After 3 Years |
