Life Insurance Corporation of India's Jeevan Lakshya Plan no. 833, is a limited premium paying with profit endowment plan. Premium paying term is 3 year less than the policy term. For more queries Visit: http:insuranceblog.asia

1. Plan No. 833
UIN No: 512N297V01

2. Limited payment, with profit endowment plan
Premium payment term is less than 3 years of policy term
Regular yearly income to family with 110% of sum assured
on maturity to nominee in case of death of life assured.
Sum assured with simple reversionary bonus on maturity
Income tax rebate under Income tax section 80(C) on
premium paid1
Maturity payment is not taxable under section 10(10)(D)2

3. Death Benefit
From next policy anniversary after death-Payment of 10% of
sum assured every year till the date of maturity to nominee.
On date of maturity- Payment of 110% of sum assured with
reversionary bonus and final additional bonus (if any declared
by LIC) to nominee
Maturity benefit
Payment of Sum assured with reversionary bonus with final
additional bonus (if declared by LIC) to Life assured.

4. Minimum entry age: 18 years (LBD)
Maximum entry age: 50 years (NBD)
Maximum age at maturity: 65 years
Policy Term: 13 to 25 years
Premium payment term: Policy term- 3
Minimum sum assured: Rs. 100000
Maximum sum assured: No limit
Premium Modes: Yearly, Half Yearly, Quarterly,
Monthly (ECS and SSS only)

5. LIC’s Accidental death and permanent disability rider
Minimum entry age: 18 years (LBD)
Maximum entry age: any time during the policy term
provided 5 year premium paying
term is left
Maximum cover ceasing age: 65 years
Minimum sum assured: Rs. 100000
Maximum sum assured: Upto the Sum assured in plan to
the extent of Rs. 1 crore in all the
previous policies together.

6. LIC’s New Term assurance rider
Minimum entry age: 18 years (LBD)
Maximum entry age: 50 years (NBD)
Minimum sum assured: Rs. 100000
Maximum sum assured: Maximum cover under this rider
must be less than or equal to
basic sum assured subjected to
maximum of Rs. 25 Lacs under
all existing policies.

7. Loan facility after 3 year with full 3 years
premium paid
Income tax rebate under section 80(C) and
10(10)(D)
1. Death sum assured must be 10 times of annual
premium without tax.
2. Maturity claim is not taxable if above
condition is fulfilled.

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