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LIC’s Jeevan Lakshya is a participating, non-linked endowment assurance plan.
It’s specially designed to provide financial protection to the family in case of the policyholder’s unfortunate death and also ensures a lump-sum amount at maturity — even if the policyholder is no more.
This plan is perfect for those who want to secure their family’s financial goals (like children’s education or marriage) while building long-term savings.
| Feature | Details |
|---|---|
| Plan Type | Non-linked, Participating, Endowment Assurance Plan |
| Premium Payment Mode | Yearly, Half-yearly, Quarterly, or Monthly |
| Policy Term | 13 to 25 years |
| Premium Paying Term (PPT) | Policy Term – 3 years |
| Minimum Sum Assured | ₹1,00,000 |
| Maximum Sum Assured | No limit (subject to underwriting) |
| Minimum Entry Age | 18 years (completed) |
| Maximum Entry Age | 50 years |
| Maximum Maturity Age | 65 years |
| Loan Facility | Available after 3 full years’ premium payment |
| Surrender Value | Available after 3 full years |
| Bonus | Eligible for Simple Reversionary + Final Bonus |
Let’s assume:
You pay ₹45,000 annually for 17 years.
If the life assured passes away anytime during the policy term, LIC ensures:
This ensures family income continues even in the absence of the policyholder.
If the policyholder survives till maturity:
✅ Maturity Benefit = Basic Sum Assured + Accrued Bonuses + Final Bonus
Example (approximate):
If bonuses total ₹4,00,000,
Maturity = ₹10,00,000 + ₹4,00,000 = ₹14,00,000
If death occurs during the policy term (after risk commencement):
👉 The premium payment stops, but the benefits continue automatically — ensuring your family’s goals are achieved even in your absence.
| Benefit Type | Description |
|---|---|
| Death Benefit | Yearly income + full maturity at end of term (Sum Assured + Bonus) |
| Maturity Benefit | Full Sum Assured + Bonuses if policyholder survives |
| Bonus Participation | Eligible for yearly Simple Reversionary Bonus + Final Bonus |
| Loan Facility | After 3 years |
| Surrender Option | After 3 years of full premium payment |
| Tax Benefits | Under Sec 80C & Sec 10(10D) of Income Tax Act |
| Particular | Details |
|---|---|
| Age | 30 years |
| Policy Term | 20 years |
| Premium Paying Term | 17 years |
| Sum Assured | ₹10,00,000 |
| Annual Premium | ₹45,000 (approx.) |
| Approx. Maturity Value | ₹13 – ₹14 lakh |
| Death Benefit | 10% yearly till maturity + ₹10 lakh + Bonuses at maturity |
✅ Family income continues even after the policyholder’s death
✅ Maturity benefit guaranteed — even in case of early demise
✅ Combines protection + long-term savings
✅ Eligible for bonuses and final additions
✅ Loan & surrender flexibility
✅ Ideal for family goal-based planning (education, marriage, or retirement)
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Niva Bupa Health Insurance Company Limited is one of India's leading standalone health insurers (SAHI), headquartered in New Delhi and founded in 2008. The company was formerly known as Max Bupa Health Insurance Company Limited and was rebranded to Niva Bupa in 2021. Niva Bupa offers a wide range of health insurance products for individuals, families, senior citizens, and corporate employees.
