Do you want to confidently and clearly plan your financial future? Based on your age, sum assured, and policy term, our LIC’s Jeevan Lakshya (Plan 733) Premium and Maturity Calculator assists you in precisely estimating the amount you will pay and receive upon maturity. Get accurate figures in a matter of seconds so that you can make well-informed decisions, whether you’re investing for your own retirement, your child’s education, or your marriage.
LIC Jeevan Lakshya (Plan 733)
Estimate premium and potential benefits for LIC’s Jeevan Lakshya Plan (UIN: 512N297V03).
What Is LIC’s Jeevan Lakshya (Plan 733)?
- It is LIC’s individual non-linked, participating savings plan.
- provides both a death benefit in the event that the policyholder passes away within the policy’s term and a maturity benefit (sum assured at maturity plus vested simple reversionary bonuses and final additional bonuses, if any).
- The death benefit is equal to either 110% of the basic sum assured or seven times the annualised premium, whichever is higher.
- From the policy anniversary after death until the policy’s maturity, an annual income benefit equal to 10% of the basic sum assured is paid out annually upon death.
- Benefits for surrender are available: the policy gains a Guaranteed Surrender Value after paying premiums for at least two full years, and a Special Surrender Value is taken into consideration after one full year (with full premiums).
Why Use the Premium & Maturity Calculator?
- To calculate the premiums you will pay over time for a specific term and sum assured
- To determine the maturity benefit (bonuses included) that you will receive at the end of your term
- To evaluate various situations (such as various policy terms and sum assured amounts) in order to determine which one best suits your objectives.
- To use realistic figures when planning your finances—no guesswork
Real-World Examples & Analysis
| Scenario | Age at Entry | Policy Term | Basic Sum Assured | Approx Annual Premium* | What You Might Get at Maturity* |
|---|---|---|---|---|---|
| Young working professional | 30 years | 20 years | ₹10,00,000 | ~₹ 50,000* | ~₹ 1,20,00,000* (Sum assured + bonuses) |
| Child’s higher education plan | 35 years | 15 years | ₹5,00,000 | ~₹ 45,000* | ~₹ 85,00,000* |
| Pre-retirement saver | 45 years | 10 years | ₹7,50,000 | ~₹ 90,000* | ~₹ 1,50,00,000* |
*These figures are indicative, assuming standard bonus rates, full premium payment, and no lapse. Actual amounts depend on LIC’s bonus declarations and exact term/premium parameters.
Analysis:
- Because bonuses compound over more years, longer policy terms typically result in higher maturity amounts.
- Benefits and premium costs are greatly increased by higher basic sum assured.
- In addition to providing annual income, the death benefit structure guarantees family protection (the higher of the fixed multiple of premiums or the percentage of the assured sum).
Expert Opinions
“LIC’s Jeevan Lakshya offers a solid balance of savings plus life cover. It combines predictability (through sum assured and surrender values) with upside via bonuses.” — Anand Mehta, Financial Planner, Mumbai.
“For many in Tier-2 & Tier-3 cities, a plan like this helps lock in discipline: regular premium payments, assured protection, and growth. The key is to choose a term you’re confident of sustaining.” — Dr. Priya Singh, Insurance Studies Lecturer, Delhi University.
FAQs
LIC pays the Sum Assured on Death, which is the greater of the 7× annualised premium or 110% of the Basic Sum Assured plus vested bonuses, upon death during the policy term (while premiums have been paid). Additionally, from the policy anniversary after death until maturity, an annual income equal to 10% of the Basic Sum Assured is paid.
The policy would lapse if you failed to pay premiums, but it might become a “paid-up policy” with benefits that are lowered in proportion to premiums paid after you have paid premiums for at least a full year. Additionally, depending on the number of premiums paid, surrender value (guaranteed or special) might be available.
Yes. In lieu of a lump sum payment, settlement options enable the maturity or death benefit to be received in installments over periods of five, ten, or fifteen years.
After receiving the policy document, you have 30 days to review it. You can return it and receive a premium refund if you’re not happy (terms as per policy).
When no investigation is necessary, death claims are usually resolved in 15 days. Up to 45 days if investigations are required. Benefits for survival and maturity are also processed on time.
Use our Premium & Maturity Calculator now to:
- View your premium for different policy terms and sum assured.
- Recognise each scenario’s maturity benefit, including bonuses.
- Examine plans and make sure to make informed choices.
Start now – plan with clarity, protect what matters, grow your savings with LIC’s Jeevan Lakshya.