Jeevan Lakshya Plan 933
LIC of India new plan launched on 1st. february 2020 which name is LIC Jeevan Lakshya Plan 933 (LIC Table no. 933) is a combination of risk cover and saving plan which is most suitable for the purpose of providing financial problems of children and family. This policy provides life cover during the policy term and Sum Assured + Bonuses on survival as maturity. You can now buy online LIC Jeevan Lakshya plan 933 through credit card/debit card, net banking, upi and wallets on our LIC’s New Business Platform.
Life is full of uncertainties. Every parent and family head wants to ensure that their loved ones never face financial difficulty, even in their absence. Recognizing this need, Life Insurance Corporation of India (LIC) launched a goal-protection endowment plan called LIC Jeevan Lakshya Plan 933.
This plan is specially designed to provide:
- Financial protection to family in case of unfortunate death of policyholder.
- Annual income benefit to meet recurring needs of the family.
- Lump sum maturity benefit at the end of policy term, regardless of survival or death.
In short – a combination of protection + savings + regular income benefit, making it one of the most popular LIC plans for middle-class and salaried individuals.
Key Features of LIC Jeevan Lakshya Plan 933
- Plan Type: Non-linked, Participating, Endowment Plan.
- Minimum Basic Sum Assured: ₹1,00,000.
- Maximum Basic Sum Assured: No upper limit (in multiples of ₹10,000).
- Policy Term: 13 to 25 years.
- Premium Paying Term (PPT): Policy Term – 3 years.
- Entry Age: 18 years (completed).
- Maximum Entry Age: 50 years.
- Maximum Maturity Age: 65 years.
- Premium Payment Modes: Yearly, Half-yearly, Quarterly, Monthly.
- Optional Riders: Accidental Death & Disability Rider, New Term Assurance Rider, Critical Illness Rider.
Eligibility Criteria
| Criteria | Minimum | Maximum |
|---|---|---|
| Entry Age | 18 years | 50 years |
| Policy Term | 13 years | 25 years |
| Premium Paying Term | Policy Term – 3 yrs | – |
| Sum Assured | ₹1,00,000 | No Limit |
| Maturity Age | – | 65 years |
Benefits of LIC Jeevan Lakshya Plan 933
1. Death Benefit (Family Protection)
In case of death during the policy term, the family gets:
- Annual Income Benefit: 10% of Basic Sum Assured every year till maturity.
- Maturity Benefit at end of term: Basic Sum Assured + Bonuses (as if policyholder survived).
👉 This ensures that even after the policyholder’s death, the family continues to get regular financial support.
2. Maturity Benefit (Savings Component)
At the end of the policy term (if alive), the policyholder receives:
- Basic Sum Assured + Bonuses + Final Additional Bonus (if any).
3. Survival Benefit
Unlike money-back plans, Jeevan Lakshya does not pay survival benefits during the term. Instead, all benefits are consolidated at maturity.
4. Loan Facility
Loan can be availed after 2 years, giving liquidity support.
5. Tax Benefits
- Premiums eligible under Section 80C.
- Maturity and death proceeds exempt under Section 10(10D) (subject to conditions).
Example with Tabular Illustration
Let’s assume:
- Age: 30 years
- Policy Term: 20 years
- PPT: 17 years
- Basic Sum Assured: ₹10,00,000
Death Scenario Example
| Event | Benefit |
|---|---|
| Death during policy term | Annual Income Benefit = ₹1,00,000 till maturity (10% SA) |
| At maturity (to family) | ₹10,00,000 + Bonuses + Final Additions |
Maturity Scenario Example
| Event | Benefit |
|---|---|
| At maturity (if alive) | ₹10,00,000 + Bonuses + Final Additions |
👉 This means even after death, family receives regular income + full maturity value, ensuring complete financial security.
Premium Chart (Illustrative)
For a 30-year-old male, policy term 20 years, SA ₹10 Lakh (Approximate Annual Premiums).
| Mode | Approx. Premium (₹) |
|---|---|
| Yearly | 46,000 – 48,000 |
| Half-Yearly | 23,200 – 24,200 |
| Quarterly | 11,700 – 12,000 |
| Monthly (NACH) | 3,900 – 4,100 |
Analyst Opinions
Strengths of Jeevan Lakshya 933
- Family Protection Oriented: Ensures annual income + full maturity even after death.
- Participating Policy: Eligible for bonuses, enhancing returns.
- Goal Protection Plan: Perfect for securing children’s education, marriage, and family needs.
- Trust of LIC: India’s most reliable insurer.
Limitations
- Returns are moderate (5–7%) compared to equity or ULIPs.
- Premiums are slightly higher due to dual protection + maturity benefit.
- Not ideal for investors looking for aggressive growth.
Expert Verdict:
LIC Jeevan Lakshya 933 is a protection-first savings plan, perfect for families who want assured security with moderate returns, especially parents with young children.
Investor Scenarios & Examples
Scenario 1 – Young Parent (Age 28, Sum Assured ₹15 Lakh)
- Wants to secure child’s education.
- If death occurs, family receives ₹1.5 Lakh yearly till maturity + ₹15 Lakh + Bonus.
- If survives, full maturity is paid.
Scenario 2 – Salaried Professional (Age 35, Sum Assured ₹10 Lakh)
- Premium ~₹46,000 annually.
- Uses maturity payout as retirement supplement.
Scenario 3 – NRI Investor
- Buys for parents in India.
- Ensures tax-free maturity and protection while staying abroad.
Investor Insights – Real Life Testimonials
- Rohit, 32 (IT Professional, Bangalore):
“I chose Jeevan Lakshya as it secures my family even after me. I sleep peacefully knowing my child’s future is protected.” - Anjali, 29 (Teacher, Pune):
“The annual income benefit after death clause gives me confidence. It’s a true family-oriented plan.” - Mr. Arvind, 40 (NRI, Dubai):
“I wanted a risk-free plan for my family in India. LIC Jeevan Lakshya gives me both security and savings.”
Analyst Insights – Why It’s Different
- Unlike traditional endowment plans, Jeevan Lakshya uniquely combines annual income + lump sum maturity.
- Ideal for goal-based financial planning, particularly for children’s milestones.
- Strong trust factor with LIC ensures stability.
FAQs – LIC Jeevan Lakshya Plan 933
Q1. What is the minimum Sum Assured in Jeevan Lakshya 933?
👉 ₹1,00,000.
Q2. Can I take a loan against the policy?
👉 Yes, after 2 years of premium payment.
Q3. Does this plan provide survival benefits?
👉 No, survival benefits are not paid during the term.
Q4. Who should buy this plan?
👉 Parents, salaried individuals, and anyone who wants goal protection + family security.
Q5. Is maturity benefit tax-free?
👉 Yes, under Section 10(10D) (subject to conditions).
Final Thoughts – Should You Invest in LIC Jeevan Lakshya Plan 933?
If your primary concern is family protection and goal-based planning, this plan is a strong option.
✔ Provides annual income benefit + full maturity – rare in insurance.
✔ Best suited for parents securing children’s future.
✔ Ensures financial peace of mind, even in uncertain times.
✔ Tax benefits make it even more attractive.
However, if your focus is purely wealth creation or high growth, mutual funds or market-linked products may be better.
In Summary:
👉 LIC Jeevan Lakshya 933 is a family-oriented, protection-driven savings plan with moderate returns but strong emotional value.
It’s not just an insurance policy – it’s a promise to your loved ones.
