28/03/2015
LIC Jeevan Lakshya Policy Benefit Illustration
Mr. Raju has taken LIC Jeevan Lakshya policy with following details:
Rajus’ age: 30 years
Policy Term: 20 years
Basic Sum Assured: 10 lakhs
Premium Paying term: ( Policy term – 3 years)= 20 years- 3 years = 17 years
Death Benefit: If Raju dies after 5 years from the date of receipt of policy. The death benefit payable will be:
From the 6th year of policy period, nominee will receive Rs. 1,00,000/- (10% of Basic sum assured) on every policy anniversary till end of the policy term(20th Year).
At end of policy term/ maturity date, Nominee will be paid Rs. 11,00,000/- (110% of sum assured) + Vested simple Revisionary Bonuses + Final Additional Bonus (If Any).
Maturity Benefit: If Mr. Raju is surviving till the end of the policy, the maturity benefit received
Maturity Amount = Sum Assured + vested Simple Revisionary bonuses + Final Additional bonus (if any)
Maturity Amount = 11,00,000 + vested Simple Revisionary bonuses + Final Additional bonus (if any)
