Product Summary | Jeevan Lakshya is a limited premium paying term with profit endowment assurance plan with enhnced insurance coverage. Premium paying term is 3 years lesser than the term of the policy. |
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Premium Payment Mode | Yearly, Half Yearly, Quarterly, Monthly(SSS and NACH) |
Annuity Mode | - |
Optional Benefits | - |
Term | Policy term - 3 |
Premium Paying Term | - |
Minimum Age at Entry | 18 year completed 50 years |
Maximum Age at Entry | 50 years (Nearest birth day) |
Annuity Options | - |
Minimum Purchase Price | - |
Deferment Period | - |
Joint Annuity | - |
Maximum Cover Ceasing Age | - |
Maturity Age | - |
Sum Assured | - |
Maturity Benefit | - |
Death Benefit | - |
Minimum Basic Sum Assured | - |
Minimum age at the end of Premium Paying Term | - | Maximum Maturity Age | 65 years (nearest Birthday) |
Minimum Premium | - |
Maximum Premium | |
Minimum Basic Sum Assured | |
Minimum Basic Sum Assured | - |
Sum Assured on Death | - |
Maximum Sum Assured | No Limit (Subject to other conditions) |
Guaranteed Additions | - |
Survival Benefits | - |
Riders Available | ADDB/AB, Critical Illness Rider, Term Rider. |
Accidental Death and Disability benefit (ADDB) | UP to Age 65 |
On Death | On death: annual income benefit equal to 10 % of the basic sum assured (till policy anniversary prior to date of maturity) + 110% of Basic sum assured +vested bonus and FAB(if any) at the time of maturity. |
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On Survival | Basic sum assured + Vested Bonus +FAB (if any) |
On detection of Early Stage Cancer | - |
On detection of Major Stage Cancer | - |
Settlement Option | - |
Multiple Allowed | - |
Surrender Value | Policy can be surrendered at any time during the policy term provided at least 2 full years premium have been paid and two full years completed since inception of policy. |
Loan | Loan can be availed at any time during the policy term provided at least 2 full years premium have been paid and two full years completed since inception of policy |
Income Tax Benefit | Premium paid under the policy is eligible for Tax rebate under section 80C. Maturity benefit under this policy is tax free under section 10 (10 D) of income tax act |
Proposal Form | Form No 360 + 300 if premium waiver benefit is opte |