Life Insurance Corporation of India (LIC) is considered one of the most trusted insurance institutions in the country. Many of its policies are specifically designed for middle-class investors, where even small deposits can yield good returns. One such plan is LIC’s Jeevan Lakshya policy, which offers insurance protection along with the opportunity to build a strong corpus over the long term.

This plan falls under the non-linked and participating category, so it is not exposed to market fluctuations. The objective of the plan is to promote savings and secure the financial future of the family.

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A daily deposit of ₹172 yields a substantial return upon maturity

The specialty of this plan is that if a person deposits approximately ₹172 daily, or ₹5,169 per month, and takes out a 25-year policy with a sum assured of ₹1.5 million, they can receive approximately ₹28.5 million at maturity. This amount is calculated with bonuses and other benefits, making it a highly attractive investment option.

Nominee receives a lump-sum claim upon death

A major advantage of the Jeevan Lakshya policy is that if the policyholder dies during the policy term, the nominee receives a lump sum assured along with other benefits. This plan helps secure the family’s financial future.

Premium Payment Options and Policy Term

You can choose a policy term between 13 and 25 years. The premium payment term is three years less than the policy term. The minimum sum assured for the policy is ₹1 lakh, while there is no maximum limit. Policyholders can pay premiums monthly, quarterly, half-yearly, or annually.

Tax Benefits

Premium payments under the Jeevan Lakshya policy are eligible for deduction under Section 80C of the Income Tax Act. The maturity amount can also be tax-free as per the rules. This makes this policy beneficial for both savings and tax benefits.

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A means of strong financial security in 25 years

This plan is a balanced option for those who want to build a large corpus over the long term and also require insurance protection. Premiums paid in small installments can accumulate into a substantial sum over time.