How is LIC Jeevan Lakshya calculated?
About Jeevan Lakshya Plan (933) Maturity Calculator Maturity amount is equal to basic Sum Assured + Accumulated Simple Revisionary (Bonus) + Final Additional Bonus (FAB). Bonus is declared for each policy year and it gets accumulated to the policy. FAB is a onetime bonus and it is declared in the year of maturity.
What is the maturity amount of LIC Jeevan Lakshya?
Eligibility Conditions of LIC Jeevan Lakshya
| Policy Name/Criteria | LIC Jeevan Lakshya | New Term Assurance Rider |
|---|---|---|
| Maximum Age of Entry | 50 years | 50 years |
| Maximum Maturity Age | 65 years | Same as Jeevan Lakshya |
| Sum Assured | Minimum – Rs. 1,00,000 Maximum – No limit | Minimum – Rs. 1,00,000 Maximum – Rs. 25 lakhs |
How LIC maturity is calculated?
How is Maturity Calculated? The exact Maturity Value cannot be calculated but one can calculate a close estimate of the value to get an idea of the benefit at the end of the term. The basic format is Sum Assured + Bonuses + Final Additional Bonus (if declared).
Is Jeevan Lakshya 933 a good policy?
For the financial security of children and family, LIC Jeevan Lakshya Plan (Plan No: 933) is the most suitable one. It is a collection of savings plus it covers the risk factor. It is a limited premium paying plan which is not at all linked and classified With- Profits Endowment Assurance plan.
What is the benefit of Jeevan Lakshya?
Benefits in the LIC Jeevan Lakshya Plan 110% of the Basic Sum Assured payable on the Maturity Date. Simple Reversionary Bonus which has accrued throughout the policy term payable on the Maturity Date. Final Addition Bonus if declared payable on the Maturity Date.
Which policy is better Jeevan Labh or Jeevan Lakshya?
As indicated in the table above despite the total premium amount being significantly higher for LIC Jeevan Lakshya, the maturity benefit is higher in the case of LIC Jeevan Labh (although not significantly). Please note that the premium paying term for each of these plans differs as per the policy term chosen.
What is the surrender value of Jeevan Lakshya policy?
Calculation of Surrender Value of Jeevan Lakshya
| Particulars | Amounts | Factored Amount |
|---|---|---|
| Paid Premium | 1,00,300 | 50150 |
| Vested Bonus (approx.) | 1,22,500 | 19,049 |
| Final Surrender Value(approx.) | 69,199 |
How is LIC premium calculated?
The LIC Premium Calculator is a tool that will help you ascertain the approximate amount of money you will have to pay as premium….LIC Premium Calculator:
| Monthly Premium | Rs.5,000 |
|---|---|
| Quarterly Premium | Rs.14,500 |
| Half-Yearly Premium | Rs.29,250 |
| Yearly Premium | Rs.58,500 |
What is Jeevan Lakshya plan?
LIC Jeevan Lakshya is a saving plan which offers a combination of both protection and savings. The plan was introduced in March 2015. This plan is a combination of both protection and savings. The plan provides a regular income to take care of your family’s needs as a death benefit.
Which is best Jeevan Lakshya or Jeevan Labh?
The foundational aspect of LIC Jeevan Labh and LIC Jeevan Lakshya is to offer benefits….LIC Jeevan Lakshya versus LIC Jeevan Labh: Sample Illustration.
| Features | LIC Jeevan Lakshya | LIC Jeevan Labh |
|---|---|---|
| Age | 35 years | 35 years |
| Sum Assured | Rs.5 Lakhs | Rs.5 Lakhs |
| Policy Term | 25 years | 25 years |
| Premium Paying Term | 22 years | 16 years |
Is Jeevan Lakshya tax benefit?
Tax Benefit: All the premiums paid towards LIC Jeevan Lakshya Plan qualify for tax exemption under Section 80C of the Income Tax Act. Also, under Section 10D, the maturity amount earned by a policyholder is free from tax.
What is maturity calculator for LIC’s Jeevan Lakshya Plan No 833?
Maturity Calculator for LIC’s Jeevan Lakshya (Plan No: 833) provides easy way to calculate maturity amount and illustrates Year-Wise amount of risk covers. It uses Parameter like Bonus rate, Final Addition Bonus (FAB) etc which are similar to declared values, not exact and calculations are indicative only.
What is Jeevan Lakshay plan in LIC?
LIC’S Jeevan Lakshay Plan is a unique plan which ensures cash flow in case of untimely demise of the policyholder. It provides 10% of Sum Assured every year to the nominee for the remaining policy years and; the nominee doesn’t has to pay the remaining premiums.
What is the Jeevan Lakshya calculator?
LIC Jeevan Lakshya calculator gives you a fair estimate of the surrender value, bonus, Loan, paid up and projected maturity value on the basis of the total premium paid. Please enter correct sum assured, premium, premium paying term, policy term, last premium paid date and your personal details.
What is the premium of LIC Jeevan Lakshya for accidental death?
Disease leads to death is a normal death while an road accident leads to death is accidental death. If i purchase LIC Jeevan Lakshya for 16 Years. Howmany years , i have to pay premium. Premium payment term in jeevan lakshay is 3 year less than policy term. So, premium paying term in your case will be 13 (16-3).