LIC Jeevan Lakshya Plan 933
Premium & Maturity Offline Calculator with Income Benefit Options
LIC Jeevan Lakshya Plan 933 Overview
LIC Jeevan Lakshya Plan 933 is a participating regular premium endowment plan specially structured to provide an annual income benefit of 10% of Sum Assured to children in case of parent's demise before maturity, and pays the full maturity amount at maturity. It is the modern replacement of Plan 733.
Eligibility & Rules
- Entry Age: 18 to 50 Years
- Policy Term: 13 to 25 Years
- Premium Paying Term: Policy Term minus 3 Years
- Minimum Sum Assured: ₹1,00,000
Key Plan Benefits
- Death Benefit: 10% of Basic Sum Assured paid annually from the year of death till maturity. Full Maturity amount paid at the end of the term.
- Maturity Benefit: Sum Assured on Maturity + Vested Simple Reversionary Bonuses + Final Additional Bonus (if any).
Detailed Maturity Benefit
Basic Sum Assured + Vested Simple Reversionary Bonuses + Final Additional Bonus (if any). Payable on surviving the policy term.
Standard Policy Features
- Grace Period: 30 days for Yearly, Half-Yearly, and Quarterly premium payment modes, and 15 days for Monthly mode.
- Free Look Period: 30 days from the date of receipt of the policy document to review the terms and conditions.
- Loan & Surrender Facility: The policy acquires a Surrender Value and Loan facility after the payment of 2 full years' premiums.
- Tax Benefits: Premiums paid are eligible for tax deduction under Section 80C, and maturity/death benefits are tax-free under Section 10(10D), subject to prevailing tax laws.
Example Calculation
| Parameter | Value |
|---|---|
| Sum Assured | ₹5,00,000 |
| Age of Proposer | 30 Years |
| Policy Term | 21 Years |
| PPT (Premium Paying Term) | 18 Years |
| Yearly Premium (Base) | ₹27,300 |
| Total Paid Premium | ₹4,91,400 |
| Maturity Benefit | ₹10,50,000 |
Calculating…