Review of LIC Jeevan Lakshya

LIC Jeevan Lakshya is one of the best LIC Plans. I am so happy that I bought this plan 2 years ago. Now, I have also convinced my sister to buy this plan for her family’s security. She was skeptical about it, but after talking to the experts of Policybazaar, she is totally convinced. Thank you LIC & Policybazaar for assisting your customer’s every insurance need. By Rishika Adhikari 

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We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

Mrs. Rishika bought the LIC Jeevan Lakshya plan in January 2021. She was so happy with the plan’s features and benefits, that she even convinced her sister to buy the same plan. The Annual Income Benefit offered by the plan is what made Mrs. Rishika interested in buying this LIC plan.

Let us explore LIC Jeevan Lakshya in more detail to understand its other features and benefits:

LIC Jeevan Lakshya is an endowment plan that offers the dual benefits of life protection and savings to the policyholder. Along with this, the plan comes with a unique feature of Annual Income Benefit which is specially designed to secure the future of the child after the death of the policyholder.

Key Features of LIC Jeevan Lakshya

  • LIC Jeevan Lakshya is a participating plan where the policyholder receives Simple Reversionary Bonuses by participating in the company’s profits.

  • The plan offers the flexibility to choose the premium paying term at your convenience. One can choose to pay premiums yearly, half-yearly, quarterly, or monthly intervals.

  • The plan offers a loan facility wherein the policyholder can avail loan against their LIC Jeevan Lakshya Policy provided at least two full years’ premiums have been paid.

What are the Benefits of LIC Jeevan Lakshya?

With LIC Jeevan Lakshya, the policyholder and his family will be entitled to the below mentioned benefits:

  1. Death Benefits

    If the policyholder dies during the policy term, the nominee will be entitled to the death benefit. The death benefit payable will be the higher of:

    • 7 times the annual premium amount, or

    • Sum of 110% of Basic Sum Assured.

  2. Maturity Benefits

    In case the policyholder outlives the maturity date, the policyholder will be eligible to receive the maturity benefit. The maturity amount will be calculated as the sum assured along with the vested Simple Reversionary Bonuses and Final Additional Bonus, if any,

  3. Optional Benefit for receiving Maturity and Death Benefit in Installments

    Under the plan, the policyholder has the option to receive death/ maturity benefits in installments. The minimum installment amount for each manner of payment is as follows:

    Mode of Installment payment Minimum installment amount (in Rs.)
    Monthly 5,000
    Quarterly 15,000
    Half-yearly 25.000
    Yearly 50,000
  4. Availability of Riders for enhanced protection

    LIC Jeevan Lakshya comes with 4 rider options namely LIC Accidental Death and Disability Benefit, LIC Accident Benefit Rider, LIC New Term Assurance Rider, and LIC New Critical Illness Benefit Rider. The policyholder can add these riders to enhance their coverage.

  5. Tax Benefits

    The LIC Jeevan Lakshya policy offers tax benefits to the insured on the premium paid and on the claims received under Sections 80C and 10(10D) of the Income Tax Act.

To Sum it Up

Just like Mrs. Rishika and her sister, there are several other customers who are happy and satisfied with the LIC Jeevan Lakshya plan. The plan not only secures your family’s financial future but also helps you to save regularly which can be used to fulfill your future financial goals.


  • Q: What is the policy duration of LIC Jeevan Lakshya Plan?

    Ans: The maximum policy tenure of LIC Jeevan Lakshya is 25 years. One can choose the policy tenure between 13-25 years.
  • Q: What is the minimum sum assured for LIC's Jeevan Lakshya plan?

    Ans: The minimum sum assured of LIC Jeevan Lakshya plan is Rs. 1 Lakh.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-
++Returns are 10 years returns of Nifty 100 Index benchmark

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