LIC Jeevan Lakshaya Plan 833
LIC Jeevan Lakshaya Plan 833 having following benefits are payable under this policy:
1. Maturity Benefit: On Life Assured surviving the stipulated Date of Maturity provided the policy is in full force by paying
up-to-date premiums, Sum Assured on Maturity along with vested Simple Reversionary Bonuses and Final Additional
Bonus, if any, shall be payable. Where Sum Assured on Maturity is equal to Basic Sum Assured.
2. Death Benefit: On death of the Life Assured before the stipulated Date of Maturity provided the policy is in full force
by paying up-to-date premiums, Death Benefit, defined as sum of “Sum Assured on Death”, vested Simple
Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.
3. Accidental Death of the Life Assured: In addition to Death Benefit under the Basic Plan, an additional sum equal to the
Accident Benefit Sum Assured shall be payable under this policy.
However, the policy shall have to be in force at the time of accident irrespective of whether or not it is in force at the time of death.
(i) be caused by intentional self injury, attempted suicide, insanity or immorality or whilst the Life Assured is under the influence or consumption of intoxicating liquor, narcotic or drug (unless prescribed by doctor as a part of treatment); or
(ii) be caused by injuries resulting from taking any part in riots, civil commotion, rebellion, war (whether war be declared or not), invasion, hunting, mountaineering, steeple chasing, racing of any kind, paragliding or parachuting, taking part in adventurous sports; or
(iii)result from the Life Assured committing any criminal act with criminal intent, or
(iv) (a) arise from employment of the Life Assured in the armed forces or military service. This exclusion is not applicable if the Life Assured was involved in an accident when he is not on duty or was involved in any rescue operations while combating natural calamities in our country; or
(b) arise from being engaged in police duty (which excludes administrative assignments) in any police organization other than paramilitary forces. This exclusion is not applicable where the option to cover Accidental Death and Disability Benefit
arising on accident while engaged in police duty, has been chosen; or
(v) occur after 180 days from the date of accident of the Life Assured.
Policy Loan: Loan can be availed under this policy provided at least three full years’ premiums have been paid.
Minimum age at entry: 18 Years LBD (age on last birthday)
Maximum age at entry: 50 Years NBD (age on nearer birthday)
Maximum Maturity age: 65 Years
Policy Term: 13 to 25 Years
Premium Paying Term (PPT): (Term-3) Years
Minimum Basic SA: 100000
Maximum Basic SA: No Limit
Modes of payment: Yearly, Half Yearly, Quarterly & ECS
Mode rebate: Yearly: 2%, & on Half Yearly: 1%
High Basic Sum Assured rebate:
Basic Sum Assured Rebate
100000 to 190000 Nil
200000 to 490000 Rs 2 per thousand on Basic SA
500000 or above Rs 3 per thousand on Basic SA