LIC of IndiaInsurance Plans

LIC’s Jeevan Lakshya – 833 | All Details with calculators and Illustrations

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LIC Jeevan Lakshya – Plan 833 – All Details with calculators and Illustrations. Jeevan Lakshya is an excellent plan from LIC of India with innovative power packed features. It is an ideal plan to help you in meeting the future educational and marriage expenses of your child.

This plan provides high insurance benefits compared to ordinary endowment plans. Further the premium paying term is limited by three years compared to the term. As the name of the plan Lakshya – which means ‘Aim‘ – implies, it can be used as an effective tool to ensure, all the future needs of your child, even if some thing unfortunate happens in between.

LIC Jeevan Lakshya – Important features
  • Premium paying term limited by 3 years compared to term
  • Maturity Benefit: Sum Assured + Simple Reversionary Bonus + Final Addition Bonus as maturity after the completion of the term.
  • Death coverage: Death benefits include annual income benefit of 10 % of Sum Assured till the end of the term and 110% of Sum assured along with bonus and final addition bonus at the time of maturity.
  • Maturity benefit and death benefit shall be tax free under section 10(10D) of Income tax act.
  • Premium paid is exempted from income tax u/s 80C.
  • Term Assurance rider can be opted to get additional death coverage at small extra cost depending on your age.
  • LIC’s Accidental death and disability benefit rider can also be opted for to enhance the protection


Jeevan Lakshya (plan 833) – Eligibility conditions and restrictions
Age at entry18 years (last birthday)50 years (nearer birthday)
Policy term13 years25 Years
Basic Sum AssuredRs. 1,00,000No limit
Jeevan Lakshya (plan 833) – Other features
Mode RebateYearly2% of tabular premium
Half yearly1 % of Tabular premium
Quarterly and MonthlyNo rebate
High Sum Assured rebate2,00,000 to 4,90,0002 per 1000 sum assured
5,00,000 and above3 per 1000 sum assured
Premium paying termTerm – 3
Applicable ridersTerm Assurance and
Accidental death and disability rider
LIC Jeevan Lakshaya – Plan 833 – Premium and benefit calculator

Premium and benefit calculator of Jeevan Lakshya is intended to give a clear idea of the premium and benefits under the policy as per your details. Death scenarios provided along with the calculator can help you to understand the death benefits at depth.

LIC Jeevan Lakshya premium and benefit calculator

LIC Jeevan Lakshya – Plan 833 – Maturity benefit

Sum Assured + Simple Reversionary Bonus accrued in the policy + final addition bonus will become payable in the policy at the time of maturity.

LIC Jeevan Lakshya – Plan 833 – Death benefits.

Death benefits are provided in two ways in this plan.

  1. Annual income benefit of 10 % of Sum Assured shall be payable from the policy anniversary coinciding with or following the date of death of life assured, till the end of the term.
  2. An amount equal to 110% of Sum assured along with bonus and final addition bonus shall be paid at the time of maturity.
LIC Jeevan Lakshaya – Plan 833 – Illustration of benefits.

In order to understand Jeevan Lakshya plan at depth let us consider the example of a person taking a Jeevan Lakshya plan. Let the details of the person purchasing the plan be as follows.

Sum Assured10,00,000Age35 Years
Term of the plan21 YearsPremium Paying Term18 Years
Term Rider PurchasedRs. 5,00,000Accident benefit riderIncluded
 LIC Jeevan Lakshya Premium

Benefits of the plan will be as shown below. Death scenario also shown to understand death coverage.

LIC Jeevan lakshya plan 833 benefit illustration

Please note: The benefit illustration shown above are as per the latest bonus rates of the plan. Future benefits of the plan can vary based on the actual experiences of LIC of India. Please visit LIC website for more details.

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Anish L J

Anish L J is a 'Financial Planner' and member of Chartered Insurance Institute(CII), London and Insurance Institute of India. He is also a finance, insurance and software consultant. He thoroughly follows the developments in finance, insurance, and other related sectors.

10 thoughts on “LIC’s Jeevan Lakshya – 833 | All Details with calculators and Illustrations

  • Its true, Jeevan Lakshya is the best plan with lots of benefits. follow to each other for grow up..

    • Yes Kalpana Riyar.. Please share the post so that it can reach more people.. Thank you.

  • in maturity calculation, it shows that after death premium need to be paid. do the nominee need to pay premium it term.

    • No need to pay any premium after the death of the policyholder… And naturally, that is what insurance is all about…

  • Yes i do agree..But can you pls suggest me..shall i go ahead with LIC or Postal Life Insurance Endowment Assurance Policy .which one is the best for return investment..pls pls help me soon.

    • LIC and Postal life Insurance policies have its own merits and demerits. Both offer good schemes. You can select your scheme based on your individual needs.

  • Jeevan Lakshay or Children Money back, which one will be better for my child of 2 years.

    • Both are good plans with some key differences..
      * In Jeevan Lakshya the life assured is the parent. But children s money back is in the name of the child it self.
      * Jeevan Lakshya gives more insurance protection to the Proposer.
      As these plans are totally different please check details and decide.
      If you have any doubt let me know..

  • Hi Anish,

    I am a great admirer of your website and regularly read various plans, but since it’s totally protected, hence if I have to make any notes I have to write it down altogether.

    Keeping your interest safeguarded could you kindly suggest if the Plans could be made or even presented DIRECTLY say on Google Meet | Microsoft TEAM or Zoom? This will also enhance your own website visibility, marketing efforts & Copyrights will not be compromised.

    Thanks & warm Regards,


    • You can download Smart – All In One calculator android app to answer all the queries. All the plans are provided with detailed calculations in this app. Just search ‘Smart All In one calculator’ in the play store.

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