LIC Jeevan Lakshya – Plan 832
Protect your family’s future with yearly income and maturity benefits
What is LIC Jeevan Lakshya (Plan 832)?
This plan is ideal for ensuring your family’s financial needs are met, even in your absence. Jeevan Lakshya provides yearly income to your family in case of your unfortunate demise and also offers a maturity benefit.
Key Features
- Life insurance cover with income benefit
- Guaranteed Sum Assured + Bonuses on maturity
- Premium Waiver in case of death of life assured
- Loan facility available after 3 years
- Tax benefits under 80C and 10(10D)
Eligibility Criteria
| Entry Age | 18 to 50 years |
|---|---|
| Maturity Age | 65 years (maximum) |
| Policy Term | 13 to 25 years |
| Minimum Sum Assured | ₹1,00,000 |
| Premium Paying Term | Policy Term - 3 years |
Benefits of Plan 832
Death Benefit
If the policyholder dies during the policy term:
- 10% of Basic Sum Assured paid every year till maturity
- Maturity Sum Assured + Bonuses paid at end of term
- Future premiums are waived
Maturity Benefit
On surviving the policy term, the policyholder gets:
- Sum Assured on Maturity
- Accrued Bonuses + Final Addition Bonus (if any)
Tax Benefits
- Premiums eligible under Section 80C
- Maturity and death benefits exempt under Section 10(10D)
Example Scenario – Real Life Style
Ramesh, a 38-year-old teacher from Vijayawada, takes LIC Jeevan Lakshya (Plan 832) for ₹5,00,000 with a policy term of 20 years.
- He pays premiums for 17 years (20 - 3)
- If Ramesh passes away in the 5th year, his family receives ₹50,000 every year till maturity
- At maturity, ₹5,00,000 + Bonus is paid to his family
- No need to pay further premiums after his death
This ensures regular income and financial support for Ramesh’s wife and kids during tough times.
Contact LIC Agent – Diwakar Cherukuwada
Serving Hyderabad, Telangana & Andhra Pradesh
- Phone/WhatsApp: Click here to chat on WhatsApp
- Email: support@theinsuranceagency.in