Jeevan Lakshya Plan of LIC

Jeevan Lakshya is a limited premium plan of LIC (Life Insurance Corporation) of India. Jeevan Lakshya plan was launched on 4th of March 2015. Jeevan Umang plan is the combination of life insurance, saving, and guaranteed maturity.

What is Jeevan Lakshya Plan

Jeevan Lakshya is a limited premium life insurance plan. Suppose a person of 25 year age buy Jeevan Lakshya plan with 25 years policy term then he has to pay the premium for 22 years only. At the end of policy term (at the age of 50 Years), that person will receive full maturity.

Suppose, at the age of 35 years that person passes away then after this Jeevan Lakshya Plan will remain active without any future premium. His nominee will receive 10 % of sum assured annually up to maturity. His Nominee will also receive maturity at the end of policy term.

Example of Jeevan Lakshya Plan

Suppose a person wants to buy Jeevan Lakshya Plan of LIC with 2,00,000 sum assured for 25 years then he has to pay the premium of 767 rupees per month for 22 years. 

Flowchart of Jeevan Lakshya Plan

Poster of Jeevan Lakshya Plan

Child Education Planning with Jeevan Lakshya Plan

Suppose a 30 year old father/mother wants to do child education planning for their new born baby and want to get 2 Lakh each year at the age of 17, 18, 19, and 20 year of his/her child. Then he may invest ₹2,678 monthly premium up to 14 year age of their child and thereafter decreasing premium up to the 17 year age of child. Details are given in the below mention table.