If you are the one who wants to secure the future of the family in your absence then you are at the right place. LIC brings LIC Jeevan Lakshya’s plan to secure your family in the future by providing death benefits and financial independence. You can now use the LIC Jeevan Lakshya 933 maturity calculator to calculate the premiums of LIC 933 plan details before buying it. Let’s look at the benefits of the LIC Jeevan Lakshya plan 933 maturity calculator and how to use the LIC Jeevan Lakshya 933 maturity calculator in this article.
What is the LIC Jeevan Lakshya Plan 933?
LIC Jeevan Lakshya plan 933 is a non-linked, participating individual life insurance plan with an annual income benefit to protect you and your family from the uncertainties of life. LIC Jeevan Lakshya Plan No. 933 is specifically created to produce an annual source of income regularly. This plan helps you to get a death benefit earlier than the maturity date in the unforeseen circumstance of death. It also offers maturity benefits in the form of a lump sum.
This plan provides you with many advantages to meet your current and future requirements. It is beneficial to the policyholder’s family in their absence. You can calculate the premium of this plan using the LIC Jeevan Lakshya plan 933 maturity calculator. Jeevan Lakshya’s 933 calculator helps you to decide how much to invest in the plan according to your budget. You can use the LIC Jeevan Lakshya plan 933 maturity calculator anytime.
Also Read: LIC Jeevan Lakshya Plan 833
Eligibility Criteria of LIC Jeevan Lakshya Plan 933
Let’s look at the eligibility criteria for using the LIC Jeevan Lakshya plan 933 maturity calculator.
|Entry age||18-50 years|
|Maturity age||65 years|
|Policy term||13-25 years|
|Policy paying term||Policy term minus 3 years|
|Policy type||Endowment plan|
|Sum assured||Minimum – Rs. 1 lakh
Maximum- No upper limit
(Basic sum assured in multiples of Rs. 10,000)
|Accidental and disability benefit rider along with Term assurance rider and Accidental benefit rider.
|Surrender and Loan||Available when all premiums of the first 2 years are paid.|
|Tax Benefit||Premium is exempted 80 C and maturity/ death claim is tax-free ( 10 D)|
What is the LIC Jeevan Lakshya Plan 933 Maturity Calculator?
LIC Jeevan Lakshya plan 933 maturity calculator is an online tool that helps to calculate all the LIC 933 plan details amount. After the maturity of the plan, the nominee receives the benefit amount. You can easily use the LIC Jeevan Lakshya 933 maturity calculator on the official website of LIC. It is the basic sum assured and a simple revisionary bonus along with it. It helps an investor to calculate using the LIC 933 plan calculator the details regarding the premium like how much he/she will get after the maturity, and bonus value. You can know all the premium amounts by entering the amount and all the personal details in the LIC Jeevan Lakshya 933 maturity calculator.
LIC Jeevan Lakshya’s plan 933 maturity calculator helps to arrange the financial budget and plan for the future. It is accurate and shows exact the true amount regarding premium. LIC 933 maturity calculator makes things easy for the customer to calculate their premium amounts in advance so that they can easily know how much investment would profit them. Use the LIC Jeevan Lakshya 933 maturity calculator today and know all about the LIC 933 plan details.
Benefits of LIC Jeevan Lakshya Plan 933 Maturity Calculator
Let’s look at the benefits of LIC Jeevan Lakshya plan 933. You can also use the LIC Jeevan Lakshya plan 933 maturity calculator to know the premiums.
1. Death Benefit
If the life assured passes away before the policy’s maturity date, the beneficiary or nominee is eligible to receive the death benefits. The death benefit cannot be less than 105% of the total premiums paid up until the insured person’s death. You can use the LIC Jeevan Lakshya plan 933 maturity calculator to calculate death benefits. The following is a list of the death benefits:
- Sum Assured on Death-It refers to the greater of 7 times the yearly premium or the sum of 110% of the basic sum insured and 10% of the basic sum assured for annual income benefits.
- Simple Reversionary Bonuses Which were previously Vested
- An additional bonus.
Keep in mind that Simple Reversionary Bonuses and Final Additional Bonuses will only be paid on their maturity date.
2. Maturity Benefit
Life Assurance is eligible to collect the maturity benefits if they live out the complete policy period of an ongoing policy. You can use the LIC Jeevan Lakshya plan 933 maturity calculator to know the maturity benefits. The following are all included in the maturity benefit.
- On Maturity, Sum Assured. The Basic Sum Assured is identical to this.
- Simple Reversionary Bonuses.
- The final bonus.
3. Participation in Profit
This policy will share in the corporation’s various kinds of earnings. Accordingly, while the policy must be in force, Life Assured will also get the profits as Simple Reversionary Bonuses as the Corporation does. The policy will continue to share in the earnings up until the date of maturity in the event of the untimely death of the Life Assured.
Also Read: LIC Tech Term Plan 854 Premium Calculator
Riders Benefits of LIC Jeevan Lakshya Plan 933
LIC offers comprehensive protection and security for your loved ones. It provides four optional Rider benefits for you to choose from according to your specific needs.
1. Accidental Death and Disability Benefit Rider
You can Opt for this rider during the premium paying term of the Base plan to get enhanced protection throughout the policy term. Here are the key benefits:
- In case of accidental death, the nominee will get the Accident Benefit Sum Assured as a lump sum.
- Additionally, in case of accidental disability due to an accident (within 180 days from the accident), an amount equal to the Accident Benefit Sum Assured will be disbursed in equal monthly installments over ten years.
- Furthermore, for any accidental disability, the future premiums for the Accident Benefit SA and the portion of Basic SA equivalent to the Accident Benefit SA will be waived.
2. Accident Benefit Rider
To get more financial protection during the premium paying term of the Base plan, you can purchase the Accident Benefit Rider by paying an additional premium. Key benefits include:
- In accidental death, the nominee will get the Accident Benefit Sum Assured as a lump sum.
3. LIC’s New Term Assurance Rider
The New Term Assurance Rider provides additional coverage if you buy it at the time of policy purchase. This rider extends the protection to the nominee, offering an amount equal to the Term Assurance Rider Sum Assured in case of the policyholder’s death during the policy term.
4. LIC’s New Critical Illness Benefit Rider
Stay prepared for life’s uncertainties with the New Critical Illness Benefit Rider. In the event of the first diagnosis of any one of the specified 15 Critical Illnesses covered under this rider, the Critical Illness Sum Assured will be paid to the Life Assured.
Options Benefits under LIC Jeevan Lakshya Plan 993
LIC Jeevan Lakshya Policy provides many customer-friendly options to fulfill policyholder needs. Let’s Take a closer look:
1. Option for Death Benefit in Installments
Rather than receiving the death benefit as a lump sum, you can opt for periodic installments throughout 5, 10, or 15 years. This unique feature allows you to create a regular income from an active policy. However, this option does not apply to the Annual Income Benefit payable upon the death of the Policyholder.
You need to pay installments in advance, and the minimum installment amounts for various payment modes are as follows:
|Mode of Payment of Installment||Minimum Amount for installment|
2. Settlement Option for Maturity Benefit
Similar to the Death Benefit, you can receive the maturity benefit in installments for 5, 10, or 15 years. This option allows your policy to get a regular income, ensuring a smooth financial condition for you.
This settlement option is available for both active policies and paid-up policies. You can receive the installments annually, half-yearly, monthly, or quarterly. However, you must pay the installments in advance.
How Does LIC Jeevan Lakshya Plan 933 Maturity Calculator Work?
Let’s look at the example of how the LIC Jeevan Lakshya Policy works. Suppose you are a 34-year-old businessman who is purchasing a policy for a term of 25 years. We will calculate the premium maturity amount you need to pay:
|Age||Gender||Year of purchase||Policy term||Premium paying term||SA||Disability and Accidental rider benefit|
|34||Male||2022||25 years||22 Years||Rs. 20 lacs||Yes|
First & second-year premium details:
|Mode||Premium||1st year total premium (4.5% GST)||2nd year total premium (2.25% GST)|
|Annual||Rs. 85870||Rs. 3864||Rs. 87802|
|Half-yearly||Rs. 43393||Rs. 1953||Rs. 44369|
|Quarterly||Rs. 21925||Rs. 987||Rs. 22418|
|Monthly||Rs. 7308||Rs. 329||Rs. 7472|
The table above provides premium details for the first and second years for various payment modes.
Maturity Benefit Details:
|SA||Approx. Bonus||Approx. Final Additional Bonus||Total|
|Rs. 20 Lakhs||2300000||900000||Rs. 52 lakhs|
Upon the policy’s full maturity, the insured individual will receive a sum of INR 52 lakhs.
General Exclusions of LIC Jeevan Lakshya Plan 993
Along with various benefits, LIC Jeevan Lakshya’s policy has specific exclusions. Familiarizing yourself with the policy’s general exclusions is essential when purchasing the plan. Here are the exclusions to consider:
If the policyholder commits suicide within 12 months from the commencement of risk, the company will not be liable to pay any compensation. However, in such cases, the Corporation will reimburse 80% of the total paid premiums of the active policy.
Suicide Exclusion After Revival
Suppose the policyholder commits suicide within 12 months from the date of revival. In that case, the Corporation will pay an amount equivalent to 80% of the total premiums paid till the date of death or the surrender value available as on the date of death, whichever is higher. No other claims will be accepted under the policy in such circumstances.
Some more Information on LIC Jeevan Lakshya Plan 933
Let’s see some more information below to learn more about the LIC 933 plan.
The following describes how refunds for this policy work.
- Moderate Rebate.
- Every year, 2% of the Tabular Premium.
- 1% of the Tabular premium within the half-yearly mode
- Salary & Quarterly Deduction: NIL
Premium Rebate with High Sum Assured:
|Sum Assured (In Rupees)||Rebate (In Rupees)|
|1,00,000 to 1,90,000||NIL|
|2,00,000 to 4,90,000||2 percent of the basic Sum Assured|
|5,00,000 and above||3 percent of the basic Sum Assured
2. Grace Period
The grace period for repayments of annual, biannual, or quarterly premiums on the LIC Jeevan Lakshya Policy is 30 days. The grace period for payments of monthly premiums is 15 days, starting from the date of the first unpaid premium.
3. Surrender Value
If you choose, you can easily surrender this insurance at any time, but only if you have paid premiums for an active policy for at least two years.
If the Indian government or another legally recognized tax authority charges any legal taxes on the policy, they will do so under local tax laws, and the rates will only be set by those laws.
5. Paid-up Policy
If Life Assured has paid premiums for an active policy for at least two years and if additional premiums are still unpaid, the insurance will not expire.
How to Apply For LIC Jeevan Lakshya Policy?
You can apply for LIC Jeevan Lakshya Policy by visiting the nearest official branch of LIC or through the online process. The Jeevan Lakshya plan 933 maturity calculator to calculate the premium rates. You can also talk to experts, They will help you to choose the plan according to your requirements. This will help you to know better about the plan details of LIC Jeevan Lakshya Policy.
Benefits of Using LIC Jeevan Lakshya Plan 933 Maturity Calculator
As we have discussed above how LIC Jeevan Lakshya plan 933 maturity calculator works. Let’s look at the advantages of using the maturity calculator.
Easy to Use
LIC Jeevan Lakshya plan 933 maturity calculator is an online tool. You can use it very easily by visiting LIC’s official website.
LIC Jeevan Lakshya 933 maturity calculator is available online on the LIC official website. So you can use the LIC Jeevan Lakshya plan 933 maturity calculator from there by giving some details.
LIC Jeevan Lakshya’s maturity calculator is very reliable. You can check various premium plans according to your monthly budget. You can easily calculate the plans reliably using the LIC Jeevan Lakshya 933 maturity calculator.
LIC Jeevan Lakshya 933 calculator provides you the accurate results. You might make a mistake while calculating it manually. So, use the Jeevan Lakshya 933 calculator to get the accurate result of the premium amount.
LIC Leevan Lakshya 933 calculator is a user-friendly online tool. Anybody who is interested in LIC 933 plan details and wants to know about the policy can use the LIC Jeevan Lakshya plan 933 maturity calculator. You can use it as many times as you want to calculate the premium details.
LIC Jeevan Lakshya 933 calculator asks for very basic details to Provide. The LIC 933 plan calculator needs fewer details to calculate the premium plan. So, the LIC 933 plan calculator is very easy to use.
Now after knowing all the benefits and features of the LIC Jeevan Lakshya Policy and LIC Jeevan Lakshya 933 maturity calculator. You can easily calculate all the premiums of the plan using the LIC 933 plan calculator just by sitting at home. LIC Jeevan Lakshya plan 933 maturity calculator is very user-friendly and will help you to know about the premiums. So, buy this policy today, and don’t forget to do the calculations with the help of Jeevan Lakshya’s plan 933 maturity calculator.
LIC Jeevan Lakshya Plan 933 Maturity Calculator – FAQ
What is LIC Jeevan Lakshya’s plan 933 maturity calculator?
Ans. LIC Jeevan Lakshya plan 933 maturity calculator is an online tool to calculate the details and premium amounts of LIC Jeevan Lakshya Policy.
What is the entry age of LIC Jeevan Lakshya Policy?
Ans. You can buy Jeevan Lakshya Policy if you are 18-50 years of age.
How much is the maturity age of the LIC Jeevan Lakshya Policy?
Ans. The maturity age of the LIC Jeevan Lakshya Policy is 65 years.
How does LIC Jeevan Lakshya’s plan 933 maturity calculator help?
Ans. LIC Jeevan Lakshya plan 933 maturity calculator helps to calculate the premium before you buy. It gives you accurate results so, that you can buy the policy according to your budget.
Where can I use the LIC Jeevan Lakshya plan 933 maturity calculator?
Ans. You can use the LIC Jeevan Lakshya plan 933 maturity calculator to calculate the premiums on the official website of LIC.