JEEVAN LAKSHYA POLICY
Jeevan Lakshya is a traditional, non-linked participating endowment life insurance plan offered by the Life Insurance Corporation of India (LIC). The plan is designed to provide financial protection to the policyholder's family in case of their untimely death, while also offering a savings component that can help the policyholder achieve their long-term financial goals. Some of the key features of the Jeevan Lakshya plan include flexible premium payment options, guaranteed maturity and death benefits, and the option to choose from various policy terms.
Jeevan Lakshya is an endowment life insurance plan that provides both death benefit and maturity benefit to the policyholder. The key benefits of this plan include:
Death benefit: In case of the policyholder's untimely death during the policy term, the nominee will receive the sum assured along with a bonus (if any) as a death benefit.
Maturity benefit: If the policyholder survives the policy term, they will receive the sum assured along with a bonus (if any) as a maturity benefit.
Bonus: The policy may be eligible for prizes, which are declared by LIC from time to time. These bonuses are added to the sum assured to enhance the death and maturity benefits.
Tax benefits: Premiums paid towards the policy are eligible for tax benefits under Section 80C of the Income Tax Act.
Flexible premium payment options: The policyholder can choose to pay the premium either annually, half-yearly, quarterly, or monthly.
Guaranteed maturity and death benefit: The maturity and death benefit is guaranteed and is not affected by the performance of any underlying assets.
Variety of policy terms: Policyholders can choose from a variety of policy terms to suit their needs and financial goals.
It is always best to review the policy brochure and consult with a licensed insurance agent to fully understand the policy terms and conditions, as well as the benefits.
ALI ASGAR LIC
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