LIC's Jeevan Lakshya
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LIC's Jeevan Lakshya (Plan No. 933, UIN: 512N297V02) was a non-linked, participating, individual life assurance savings plan offered by the Life Insurance Corporation of India (LIC). This plan combined protection and savings, providing financial support to the policyholder's family in case of unfortunate demise and a lump sum amount at maturity for surviving policyholders.
🔑 Key Features
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Plan Type: Non-linked, participating, individual life assurance savings plan.
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Premium Payment Term: Policy Term minus 3 years.
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Premium Payment Modes: Yearly, Half-yearly, Quarterly, Monthly (through NACH), or salary deductions.
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Loan Facility: Available after payment of premiums for at least two full years.
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Grace Period: 30 days for yearly, half-yearly, and quarterly premiums; 15 days for monthly premiums.
🎯 Eligibility Criteria
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Minimum Entry Age: 18 years (completed).
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Maximum Entry Age: 50 years (nearest birthday).
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Policy Term: 13 to 25 years.
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Maximum Maturity Age: 65 years (nearest birthday).
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Minimum Basic Sum Assured: ₹1,00,000.
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Maximum Basic Sum Assured: No upper limit (subject to underwriting).