LIC Jeeven Lakshya Calculator: An All-Inclusive Handbook for Appreciating and Using It Among the most often used life insurance policies available from the Life Insurance Corporation (LIC) of India is LIC Jeeven Lakshya, which helps you safeguard the financial future of your family. This plan offers a lump sum amount at maturity should you survive the policy period as well as financial security to your loved ones should your untimely death occurs. Understanding how this plan works and how you may use the LIC Jeeven Lakshya Calculator to estimate its advantages will help you to maximise it.

The LIC Jeeven Lakshya plan is discussed in this article together with its main characteristics, how the LIC Jeeven Lakshya Calculator will help you estimate your returns and properly arrange your money. This guide will give you all the information you need whether you are a first-time policyholder thinking about switching to this plan or otherwise.

LIC Jeeven Lakshya: What is it?
Non-linked with-profits, endowment assurance plan is the LIC Jeeven Lakshya. It is meant to give your family financial stability should your untimely death within the policy period arise. It is also a double-benefit plan as, should you survive the insurance term, it provides a lump sum at maturity.

Important aspects of LIC Jeeven Lakshya: Death benefit

Should the policyholder die during the policy period, the sum assured plus accumulated bonuses are given to the nominee.

Benefit from maturity:

Should the policyholder survive the policy period, the sum insured together with earned bonuses is paid at maturity.

PolicyTerm:

Depending on the policyholder’s age, the policy period falls from 13 to 25 years.

Term of Premium Payment:

The policy term less three years makes equal the premium payment term.

Tax savings:

Under Section 80C of the Income Tax Act, premium paid under this plan are qualified for tax deductions. Furthermore tax-free under Section 10(10D) is the maturity amount.

Calculating the LIC Jeeven Lakshya:
An online tool called the LIC Jeeven Lakshya Calculator lets you project the benefits of your policy—including death benefit and maturity amount. Enter information such your age, sum assured, and insurance duration to get a realistic projection of your returns.

How Functions the LIC Jeeven Lakshya Calculator?
The calculator generates the benefits using the following inputs:

Age: At the time the policy was bought, the policyholder’s age

Sum assured: The level of coverage you decide upon.

The policy runs 13 to 25 years.

Premium Payment Term: Policy term less three years

These inputs let the calculator project:

The lump payment you will get at the end of the policy period denotes maturity amount.

The death benefit—that which your nominee will get should you pass away within the policy term.

Every year you will have to pay an annual premium to maintain the coverage valid.

Advantages of applying the LIC Jeeven Lakshya Calculator: precise estimations

The calculator helps you properly budget by offering exact estimations of your maturity and death benefits.

Financial planning:

Understanding the possible returns can help you to create reasonable financial goals and guide your decisions.

Contrast:

Comparing several sum assured values and policy terms can help you to choose the best strategy for your situation.

Clearness:

The calculator separates the advantages so that you may clearly see what the policy will yield.

How to Apply the LIC?

Lakshya Calculator for Jeeven Simple and easy is using the LIC Jeeven Lakshya Calculator. Here is a detailed manual:

First Step: Record Your Age
Enter your age right now. If you are thirty years old, for instance, type thirty.

Second: Enter the assured sum.
Enter the sum assured amount you want. For a sum promised of ₹10,00,000, for instance, enter that figure.

Third step: add the Policy Term
Enter the policy term—13 to 25 years. Say you decide on a 20-year period, for instance, enter 20.

Fourth step: enter the term of premium payments.
Enter the premium payment term—that which the policy term less three years equals. If you decide on a 20-year policy term, for instance, enter 17.

The fifth step: figure out
To project your maturity amount, death benefit, and annual premium, click the “Calculate” option.

For instance: Thirty years old

Assured sum: ₹ 10,00,000

Policy term: twenty years

Term for Premium Payments: 17 years

Amount of Maturity: ₹ 22,50,000 (around)

Death benefit: ₹ 10,00,000

annual premium: ₹65,000 (around)

Advice on Maximising Your Lic Jeevan Lakshya Returns
Select the appropriate assured sum:

Choose a sum assured that will protect your family adequately and fit your financial objectives.

Make timely premium payments.

Pay your premiums on schedule to maintain the coverage active and prevent penalties.

Go over the Policy Term:

Select an insurance term that fits your long-term financial objectives—those of your child’s schooling or your own retirement.

Know the bonus structure.

Accrued bonuses from the plan are included to the maturity amount. Check your understanding of these bonuses.

LIC Jeeven Lakshya Against Other Plans
Although the LIC Jeeven Lakshya is an excellent choice, to make a wise decision you should compare it with other insurance schemes. It ranks here among other popular plans:

How are bonuses determined?
Announced yearly by LIC, bonuses depend on the performance of the business. Last Thought
Offering both death and maturity benefits, the dependable and safe LIC Jeeven Lakshya insurance plan The LIC Jeeven Lakshya Calculator can help you to project your returns, organise your money, and guide your insurance decisions. This plan is an excellent one to take under consideration whether your family’s future needs security or if you are saving for a long-term goal. Thus, use the LIC Jeeven Lakshya Calculator right now to start the process towards a financially safe future for you and your family!

License Jeeven Lakshya vs. Term Insurance
licencing Jeeven Lakshya promises advantages in both death and adulthood. Premiums are more than with term insurance. Term insurance offers just death benefit at a reduced price. There is no value in maturity.

Unit Linked Insurance Plans vs. LIC Jeeven Lakshya
Less hazardous and with certain profits is LIC Jeeven Lakshya. Market-linked returns with more risk but more possibility for gain are ULIPs.

LIC Jeeven Lakshya vs. Endowment Plans LIC Jeeven Lakshya: Policy term less three years makes equal the premium payment term. Usually, the length of the premium matches the policy term in endowment plans. Often Requested Questions (FAQs)

Which qualifies for LIC? Jayven Lakshya?
Those between the ages of eighteen and fifty are qualified for this scheme.

The minimum promised sum is what?
The minimum guaranteed is ₹1,00,000.

Could I give up the policy?
Indeed, you can give up the policy after paying payments for at least three years.

Does the maturity value count towards taxes?
No, under Section 10(10D) of the Income Tax Act the maturity amount is tax-free.