Jeevan Lakshya

LIC Jeevan Lakshya is a conventional limited premium uncommitted plan classified as a With-Profits Endowment Assurance Plan. The plan came into force in March 2015. This plan provides an annual income which can be used for the needs of the family, especially minor children, in the event of the death of the policyholder before the expiry of the plan. In addition, a lump sum is provided at the end of the term regardless of whether the policyholder survives.

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LIC's Jeevan Lakshya is a non-linked plan that offers a combination of security and savings. The scheme provides for annual income benefits that can help meet the needs of the family, mainly for the benefit of children, in case of unfortunate death of the policyholder at any time before maturity and in spite of surviving Lump sum at the time of maturity. Policy holder. The scheme also takes care of liquidity needs through its credit facility Apart from this, the scheme also takes care of liquidity needs through loan facility.

FAQ's of LIC Jeevan Lakshya
Q.1 I am not happy with the LIC Jeevan Lakshya policy can I cancel the policy?
Yes, if you are unhappy with the term and conditions of the LIC Jeevan Laksh scheme then you can cancel the plan. The scheme can be canceled within the free-look period i.e. within 15 days from the date of issue of the policy. On cancellation, the premium paid will be refunded but after deducting some relevant expenses.
Yes, a grace period is the additional time for payment of unpaid premium by LIC. The policies with annual, half-yearly and quarterly mode of premium payment have a grace period of 30 days while policies with monthly premium payment mode have a duration of 15 days.
If you stop paying the policy premium before the expiry of the period for paying the policy premium, LIC Jeevan Lakshmi policy will be missed.
Yes, LIC Jeevan Lakshya Policy can be surrendered provided that 13 years premium has been paid. On surrender, the policyholder is eligible to receive the surrender value of the policy. The surrender value is calculated based on the year in which the plan is surrendered and as per the policy. The policyholder is eligible for a surrender value which is a fixed percentage of the total premium paid.
Under the LIC Jeevan Lakshya plan, you can avail rider coverage either equivalent to the sum assured (SA) or below the sum assured (SA) of LIC Jeevan Lakshya plan.
LIC Jeevan Lakshya Yojana is a participating plan i.e. if the insurance company makes a profit and has good financial performance then such benefit will be shared with the policyholders through bonus. So the payment of bonus will depend on the performance and profits earned by the insurance company. Thus the bonus is not guaranteed, but will be paid according to the company's financial performance.

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