Free Online Tool

LIC Jeevan Lakshya Calculator (Plan 933)

Estimate your annual premium for LIC Jeevan Lakshya (Plan 933). Enter your age, sum assured, and policy term for an instant premium calculation.

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What is the LIC Jeevan Lakshya Calculator?

The LIC Jeevan Lakshya Calculator is a free online tool that helps you estimate the annual premium for LIC's Jeevan Lakshya (Plan 933) policy. Jeevan Lakshya is a with-profit insurance plan that provides financial protection to your family in case of your untimely demise during the policy term. On survival to maturity, you receive the sum assured along with accrued bonuses. This calculator takes your age, sum assured, and policy term to give you an instant premium estimate so you can plan your insurance budget effectively.

LIC Jeevan Lakshya is designed for individuals who want life insurance coverage during their working years with the added benefit of bonuses. Unlike pure term plans where no benefit is paid on survival, Jeevan Lakshya returns the sum assured with bonuses at maturity. This makes it a hybrid product combining risk cover with savings. Our calculator gives you a clear picture of the annual premium you need to budget for, helping you compare different sum assured and term combinations before making a purchase decision.

How to Use the Jeevan Lakshya Premium Calculator

Using this calculator takes just a few steps:

Enter Your Age: Enter your current age between 18 and 55 years. Premiums increase with age as the risk to LIC increases.
Enter Sum Assured: Enter the desired sum assured (minimum ₹2,00,000). This is the amount your family will receive in case of your death.
Select Policy Term: Choose the term from 10 to 25 years. The premium paying term is the same as the policy term.
Click Calculate: View the estimated annual premium, estimated maturity amount including bonuses, and total premiums you will pay over the term.

The calculator uses standard LIC premium rates for Jeevan Lakshya and estimates bonuses at current declaration rates. The actual premium may vary based on your health, occupation, lifestyle, and other underwriting factors.

Understanding Jeevan Lakshya Plan 933

LIC Jeevan Lakshya (Plan 933) is a non-linked, with-profit insurance plan that was introduced by LIC to provide financial protection to families. The plan offers death cover during the policy term, and on survival, the policyholder receives the maturity benefit. The key features include: death benefit of sum assured plus accrued bonuses payable to the nominee; maturity benefit of sum assured along with vested bonuses and final addition if any; optional accident benefit rider for enhanced protection; and loan facility against the policy. The plan also participates in LIC's profits through Simple Reversionary Bonuses declared annually.

The premium for Jeevan Lakshya is influenced by several factors. Age at entry is the most significant factor — a 25-year-old will pay substantially lower premiums than a 45-year-old for the same sum assured and term. The sum assured directly determines the base premium — higher cover means higher premiums. The policy term affects the annual premium — a longer term spreads the premium over more years, reducing the annual outlay. The mode of premium payment (yearly, half-yearly, quarterly, or monthly) also affects the total premium, with yearly payment being the most cost-effective option.

Jeevan Lakshya Maturity and Death Benefits

On death during the policy term, the nominee receives the sum assured along with all accrued Simple Reversionary Bonuses and any Final Addition. This ensures that the family receives a substantial amount even if the policyholder passes away early in the term. On survival to the end of the policy term, the policyholder receives the sum assured along with all vested bonuses and the loyalty addition if declared. The total maturity amount is the sum of these components. For example, on a 20-year policy with ₹5,00,000 sum assured at age 30, with a bonus rate of ₹40 per ₹1,000 sum assured, the total bonus accumulated would be approximately ₹40 × 500 × 20 = ₹4,00,000, making the total maturity ₹9,00,000 plus any final addition.

Total Benefit = Sum Assured + Total Simple Reversionary Bonuses + Final (Loyalty) Addition

Tax Benefits and Why Choose Jeevan Lakshya

LIC Jeevan Lakshya offers attractive tax benefits under the Income Tax Act. Premiums paid are eligible for deduction under Section 80C up to ₹1,50,000 per year, provided the premium does not exceed 10% of the sum assured. The death benefit and maturity proceeds are tax-free under Section 10(10D). This makes Jeevan Lakshya an excellent choice for tax planning combined with life insurance. The plan is ideal for young professionals and family earners who want to ensure their family's financial security during the earning years while also building a corpus through bonuses. Compared to a pure term plan, Jeevan Lakshya offers the advantage of getting your money back with bonuses at maturity, though the premium is higher than a pure term plan.

Frequently Asked Questions

What is LIC Jeevan Lakshya Plan 933?

LIC Jeevan Lakshya (Plan 933) is a non-linked, with-profit insurance plan designed to provide financial protection to the family in case of the policyholder's untimely death. On the death of the policyholder during the policy term, the plan pays the sum assured along with accrued bonuses to the nominee. On survival to the end of the policy term, the policyholder receives the sum assured along with vested bonuses. It is essentially a risk cover plan with a savings component.

How is LIC Jeevan Lakshya premium calculated?

The LIC Jeevan Lakshya premium is calculated based on the age at entry, sum assured, policy term, and premium paying term. Younger entrants pay lower premiums since the risk period is spread over more years. The premium also depends on whether you choose single premium or regular premium payment mode. Our calculator uses LIC's standard premium rate tables to provide an estimated annual premium for the plan.

What is the minimum and maximum entry age for Jeevan Lakshya?

The minimum entry age for LIC Jeevan Lakshya (Plan 933) is 18 years (completed) and the maximum entry age is 55 years (nearer birthday) for standard policies. The policy term ranges from 10 to 25 years, and the premium paying term is the same as the policy term. The minimum sum assured is ₹2,00,000, and there is no maximum limit subject to underwriting.

What are the benefits of LIC Jeevan Lakshya?

LIC Jeevan Lakshya offers several benefits: 1) Death benefit — if the policyholder dies during the term, the nominee receives the sum assured along with accrued bonuses. 2) Maturity benefit — on survival to the end of the term, the policyholder receives the sum assured plus vested bonuses. 3) Optional accident benefit rider for additional coverage. 4) Loan facility against the policy. 5) Tax benefits under Section 80C and 10(10D) of the Income Tax Act.

How does Jeevan Lakshya differ from Jeevan Anand?

The key difference is that Jeevan Lakshya (Plan 933) provides coverage only during the policy term with the sum assured payable on death or maturity. Jeevan Anand (Plan 915) provides whole life coverage — even after maturity, the sum assured continues to be payable on death until age 100. Jeevan Lakshya is more affordable in terms of premium but does not offer post-maturity coverage. Both plans participate in LIC's profits through bonuses.

What bonuses are available in Jeevan Lakshya?

LIC Jeevan Lakshya is a with-profit plan, which means it participates in LIC's profits. Simple Reversionary Bonuses are declared annually and added to the policy. These bonuses become part of the total benefit payable on death or maturity. A Final (Loyalty) Addition may also be payable if the policy completes the full term. Bonus rates are declared by LIC each year based on its valuation results and are not guaranteed.

What is the surrender value of Jeevan Lakshya?

The surrender value of LIC Jeevan Lakshya is available after paying at least 2 full years of premiums. It is calculated as the higher of Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV). GSV is a percentage of premiums paid, while SSV is based on the paid-up value and surrender value factor. The paid-up value includes bonuses accrued. Surrender value can be used for taking a loan against the policy.

Can I add riders to Jeevan Lakshya?

Yes, LIC Jeevan Lakshya allows optional riders for enhanced coverage. The available riders include: LIC Accidental Death Benefit Rider (ADB) — provides additional sum assured on death due to accident; LIC New Term Assurance Rider — additional term life coverage; and LIC Waiver of Premium Benefit Rider — waives future premiums if the policyholder becomes disabled. These riders are available at an additional premium.

Is there a loan facility in Jeevan Lakshya?

Yes, you can take a loan against your LIC Jeevan Lakshya policy after it has acquired surrender value (usually after 2-3 years). The loan amount is up to 85-90% of the surrender value. The interest rate is competitive at around 9-10% per annum. The loan can be repaid at any time, and the policy continues with full benefits. This feature provides liquidity without having to surrender the policy.

What happens if I stop paying premiums for Jeevan Lakshya?

If you stop paying premiums after paying at least 2 full years of premiums, the Jeevan Lakshya policy becomes a paid-up policy. The reduced sum assured is calculated as (Premiums Paid / Total Premiums Payable) × Original Sum Assured. Accrued bonuses remain attached. The policy continues with this reduced cover. If premiums are stopped within 2 years, the policy lapses with no benefits payable.

What are the tax benefits under Jeevan Lakshya?

Premiums paid for LIC Jeevan Lakshya qualify for tax deduction under Section 80C of the Income Tax Act, up to ₹1,50,000 per financial year, provided the premium does not exceed 10% of the sum assured. The maturity proceeds and death benefits are tax-free under Section 10(10D). Additionally, the bonus amounts received are also tax-free at maturity, making this an excellent tax-saving investment.

Who should buy LIC Jeevan Lakshya?

LIC Jeevan Lakshya is ideal for individuals who want life insurance coverage for a specific term with the benefit of bonuses. It is suitable for young professionals and family earners who want to ensure their family's financial security during the working years. The plan is also good for those who want a disciplined savings approach with life cover. However, for whole life coverage, Jeevan Anand may be a better choice.

How to check Jeevan Lakshya policy status online?

You can check your LIC Jeevan Lakshya policy status by logging into the LIC India customer portal with your policy number. You can also use the LIC mobile app, send SMS POLICY to 5676788, or call LIC's toll-free number 1800-258-5678. Our calculator can help you estimate the premium for a new policy or the current surrender value of an existing policy.

Can NRIs buy LIC Jeevan Lakshya policy?

Yes, NRIs can purchase LIC Jeevan Lakshya policies subject to RBI and LIC guidelines. Premiums must be paid from NRE/NRO accounts. The policy is issued in Indian rupees, and all benefits are payable in India. NRIs should check the tax implications and regulatory requirements in their country of residence before purchasing the policy.