LIC plans have always been considered a reliable investment for Indian families. People trust LIC due to its secure returns, stable bonuses, and strong insurance coverage. One popular plan is the Jeevan Lakshya policy, which offers the benefits of both savings and protection. Designed to meet the future needs of middle-class families, this policy helps build a substantial corpus over the long term.

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What is the Jeevan Lakshya Policy?

LIC Jeevan Lakshya is a non-linked, participating life insurance plan. This scheme offers investors attractive bonuses and strong protection coverage upon maturity in exchange for regular premium payments. This plan is considered a suitable option for securing children’s education, marriage, and other financial goals. It also offers tax savings, reducing the investor’s overall financial burden.

Sum-Insured Options and Policy Term

The special feature of this plan is that the sum insured can start from Rs 1 lakh and can be increased as per one’s wish. There is no maximum limit, making this plan suitable for investors of all categories. The policy term can be chosen between 13 and 25 years, and premiums can be paid up to three years less than the policy term. Payment options are available on a monthly, quarterly, half-yearly, and annual basis, allowing investors to choose the option as per their convenience.

Large Funds Available at Maturity

According to LIC’s example, if a 29-year-old person takes out a 25-year policy with a sum-insured of Rs 15 lakh, they need to deposit approximately Rs 5,169 per month, or approximately Rs 172 per day. At the end of the plan, with double bonuses and other benefits, the policyholder can receive a return of up to Rs 28.5 lakh. This amount provides strong financial security in the long run.

Death Benefits to the Nominee

In the unfortunate event of the policyholder’s death during the policy term, the nominee receives the sum assured plus additional benefits as a lump sum. This ensures financial security for the family and helps meet the needs of the children.

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Tax Benefits

Investments in the Jeevan Lakshya policy are eligible for tax benefits under Section 80C of the Income Tax Act. This plan offers savings, protection, and tax benefits all in one.