LIC of India new plan launched on 1st. October 2024 which name is LIC Jeevan Lakshya Plan 733 (LIC Table no. 733)
is a combination of risk cover and saving plan which is most suitable for the purpose of providing financial problems of children and family.
This policy provides life cover during the policy term and Sum Assured + Bonuses on survival as maturity.
In case of death of policyholder during the policy term,
LIC Jeevan Lakshya Plan 733 policy provides 10% of sum assured every year till maturity and again provides Sum Assured + Bonuses as maturity to the family.
Key Features
- Annual Income in case of death of the policy holders
- Annual Income can be used as child education and family protection in case of death
- Premiums need to be paid for less number of years than Maturity year
- Ideal Plan for planning Child’s Education and Marriage
- Options to avail accidental and disability benefit rider, critical illness, and term rider.
- Settlement option available for maturity and death benefits in instalments 5, 10, and 15 years.
- Paid premiums are exempted from income tax U/Sec 80C
- Maturity amount is tax free U/Sec 10(10D)
Maturity Benefits
- LIC Jeevan Lakshya 733 Maturity Benefit = Sum Assured + Simple Reversionary Bonus + Final Addition Bonus will be payable as maturity amount.
- Sum Assured on Death : On the death of the policyholder during the policy term, Sum Assured on death, Vested Simple Reversionary Bonuses, and Final Additional Bonus will be paid.
- Death Benefit : The Death Benefit shall not be less than 105% of the total premium paid as on death (If Any).
