LIC: If you invest Rs 108 per day or Rs 3,240 per month in Jeevan Lakshya policy, you can get Rs 26 lakh at the time of maturity in 25 years
LIC’s Jeevan Lakshya policy is a limited premium paying traditional plan. If the policyholder dies at any time before the maturity of this plan, the nominee is given the benefit of regular annual income under the scheme. Apart from this, a lump sum amount is also provided on completion of the maturity period.
LIC’s Jeevan Lakshya Policy is also known as ‘Kanyadaan Policy’. According to Debashish Dutta, LIC agent associated with Million Dollar Roundtable Club, this one is “it is a concept. There is no LIC policy under this name.
Policy Features
Premiums in LIC Jeevan Lakshya policy are paid every year in advance in yearly, half-yearly, quarterly or monthly mode. You can also take a loan under this scheme.
Check out some more features of this policy
- Minimum age to join the plan 18 years
- Maximum age to join the plan 50 years
- Maximum maturity age 65 years
- Minimum Basic Sum Assured Rs.100,000
- Maximum Basic Sum Assured No Limit
- Policy Term 13 to 25 years
- Premium Paying Term: Policy Term – 3 Years
Policy can be surrendered at any time
The policy can be surrendered at any time provided premiums for at least two full years have been paid.
Loan
Loan can be taken under the policy after full premium payment of at least 2 years.
These benefits will be available on maturity
- Basic Sum
- Assured – Simple Reversionary Bonus
- Final Additional Bonus when declared
There are four optional riders available under this plan. A customer can choose any three. These include Accidental Death and Disability Benefit Rider, Accident Benefit Rider, New Term Assurance Rider and New Critical Illness Benefit Rider.
Why is it popular in the name of ‘Kanyadaan’?
The specialty of this policy is that it provides a lump sum amount after 25 years. Keeping this in mind, when the daughter is one year old, then this policy is bought. With this, a lump sum amount is received at the time of the daughter’s marriage. For this reason, this policy is popular among agents as Kanyadaan.
