LIC's Jeevan Lakshya is a complete Family Protection Plan which provides security and saving together in a single plan. It gives high risk cover, in case of the death of the policy holder, the nominee gets the Sum Assured under natural death, in case of accident death, additional accident rider pays the amount equivalent to sum assured. The nominee start getting an annual pension equal to 10% of the Sum Assured till the plan term and on completion of the plan term, he/she gets 110% of the Sum Assured. During the plan term, LIC waives off all the future premiums. In case of survival, policy holder gets Sum Assured + Bonus + Final Addition Bonus.
LIC's Jeevan Lakshya offers annual income benefit that helps in easing the liquidity position. In addition to this, the loan facility is available on the policy. Jeevan Lakshya, a participating non-linked plan, thus offers an ideal combination of protection and savings. In addition to the maturity benefit, the policy holder can take two additional riders under this plan; Accidental Death and Disability Benefit Rider and LIC's New Term Assurance Rider.