What’s Great about LIC’s Jeevan Lakshya Investment Plan?

LIC Jeevan Lakshya is one of the many plans offered by LIC, that can be easily described as "The Assurance of Protection and Savings". Let us start with the benefits associated with this policy.

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Guaranteed tax savings
Under sec 80C & 10(10D)
₹1 Crore
Invest ₹10k per month*
Zero LTCG Tax
Unlike 10% in mutual funds
All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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Plans available only for people of Indian origin By clicking on "View Plans" you, agree to our Privacy Policy and Terms Of Use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply.
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All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Below is the list of benefits you will receive as a policy holder while buying this policy:

  • Death Benefit
  • Maturity Benefit
  • Participation Benefit
  • Optional Benefits

Jeevan Lakshya Plan's Death Benefits :

There is a simple condition you must fulfill to receive the full death benefit of LIC Jeevan Lakshya Insurance plan. If you pay the full premium on time or at least within the extended time frame offered by the plan, you will be eligible to receive the following benefits under the “death benefit” term.

    • Annual Income Benefits: This amounts to 10% of Basic Sum Amount. The nominee of the policy holder will get this amount once in a year. The policy must complete one year from the date of the policy holder’s death, after which the nominee will begin receiving this sum. And, the nominee will continue to receive this benefit till the policy’s actual maturity date.
    • Assured Absolute Sum: This amounts to 110% of the Basic Sum Amount assured for the policy. The nominee shall receive it on the policy’s maturity date.
    • Vested Simple Reversionary: The nominee will receive it on the policy’s maturity date, as well.
    • Final Additional Bonus: This is applicable for smoothly maintained policies only. If every premium is paid on the due date and the liquidity is consistently maintained, one can apply for this benefit.

Total amount of death benefit is never less than 105% of the total premium amount paid. It is paid excluding taxes and other charges, if applicable.

Maturity Benefit:

On maturity of the policy, the policy holder will first receive the “Sum Assured on Maturity”. This amount includes the entire amount paid as premium (with no loans/or the entire loan amount paid). It also includes the Reversionary Bonus, and if applicable, the additional bonus.

Participation in Profit:

If a policy holder pays all the premiums within their due time, the policy will be eligible to receive a percentage of the profits of the life insurance Corporation. The corporation will invest the policy money/property on profitable businesses and will share the profit with the regular financial contributor that is the policyholders. 

Optional Benefits:

The Jeevan Lakshya Policy offers two additional riders. They are Death or Accidental Issue Rider and New Assurance Rider. These riders are optional. A policy holder may or may not enroll for them. Individually, these two riders have different features. Let us share a comparison chart for better understanding.

LIC Jeevan Lakshya Policy’s Compared with Death or Accidental Issue Rider, and New Assurance Rider 


LIC Jeevan Lakshya 

Death or Accidental Issue Rider

New Assurance Rider

Minimum Age to Signup

18 years or above

Applicable at the age of 18

Applicable at the age of 18 or above

Maximum Age to Signup

50 years or below

Must pay for 5 years of premium amount

Applicable at the age of 50 or below

Maximum Age to Maturity

65 years or below

65 years or below

65 years or below

Sum Assured

Rs. 1 Lakh at Min.

Rs. No limit at Max.

Rs. 1 Lakh at Min.

Max 105% (depends on the maturity and the Max Sum Assured)

Rs. 1 Lakh at Min

Rs. 25 lakhs at Max.

Payment Terms: LIC Jeevan Lakshya Policy, Death or Accidental Issue Rider, and New Assurance Rider

Policy Type

LIC Jeevan Lakshya 

Death or Accidental Issue Rider

New Assurance Rider

Premium Pay Time

3 years

3 years

3 years

Policy Time

13 years at Min

25 years at Max


13 years at Min

25 years at Max


The total sum assured, in addition of the two extra riders, will not exceed the actual Basic Sum Assured on this policy. To avoid any confusion, you can visit the nearest LIC office. You can also contact their help line for minor issues. These are financial issues and any misunderstanding can lead to problems in future, so it’s better to clarify any doubts as soon as you can.


We need life insurance policies to ensure a better life and our options vary depending on our individual needs. A plan that can offer a loan in the time of need is an added bonus. Jeevan Lakshya is one such plan because it is designed to help us when we are still around and even after our death.

It provides the insured with an annual income from which s/he can expect to get a financial support during tough times. It is very similar to opening your own company that will pay you for the investments you made and in fact will pay you back double or at an even higher rate, after a certain time. In short, it fulfills every expectation that we have from an insurance policy.

More Useful Resources

LIC Online Services

LIC Investment Plans

Check LIC Policy Details

LIC Jeevan Umang

LIC Online Premium Payment

LIC One Time Investment Plan

LIC Online Login Process

LIC Money Back Policy

LIC Premium Calculator

LIC New Jeevan Anand Plan

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Tax benefit is subject to changes in tax laws. *Standard T&C Apply

Written By: PolicyBazaar - Updated: 02 July 2021

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