About LIC Jeevan Lakshya (Plan 933)
LIC Jeevan Lakshya is a limited-premium money-back-with-income plan that gives you a fixed Annual Income every year during the policy term and a full maturity benefit at the end. It's a perfect match for parents who want a predictable yearly fund for their child's education and a lump-sum corpus on maturity.
How Plan 933 Pays You
- Death benefit (during premium-paying term): higher of 125% of SA or 7× annualised premium, plus 10% of SA as Annual Income till policy matures, plus final maturity benefit at end of term.
- Annual Income (after PPT): 10% of Basic Sum Assured (for term ≥ 18 yrs) or 5% of SA (term < 18 yrs) — paid every year till maturity.
- Maturity: Sum Assured + accumulated Simple Reversionary Bonus + Final Additional Bonus.
Term & Premium Combinations (Indicative)
| Policy Term | Premium Paying Term | Annual Income % of SA |
|---|---|---|
| 13–17 years | 10–14 years | 5% of SA |
| 18–25 years | 15–17 years | 10% of SA |
Key Features
- Entry age: 8–50 years; Max maturity age: 75
- Loan facility after 2 years
- Tax benefits under 80C & 10(10D)
- Riders: ADB, New Term Assurance, New Critical Illness, Premium Waiver
💡 Smart move: buy at child's age 8–12 with a 25-year term — Annual Income (₹1 lakh/year on ₹10L SA) starts when they enter college and runs through their higher education.