LIC Jeevan Lakshya (833)
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
P.P.T. (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 & 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 & 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 3 full years premiums have been paid.
Loan : Available after payment of premium of 3 full years.
Income Tax Benefit : • Premium paid under this plan is eligible for TAX rebate under section 80c. • Maturity under this plan is tax free under sec 10(10D).
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