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    Jeevan Lakshya

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    Vivek Sharma
    This document summarizes a JEEVAN LAKSHYA insurance policy. The policy pays out a fixed amount at the end of the 15-year term if the policyholder survives, or pays yearly amounts to beneficiaries and the fixed amount if the policyholder dies prematurely. On maturity, the policyholder receives XXX amount, and on death, yearly payments of 10% of premiums plus the fixed amount. The policy can be revived within 2 years of lapse and surrendered for a return of 30-90% of premiums after 2 years, depending on year. It also provides tax benefits and allows loans after a number of years.

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    © All Rights Reserved
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    Jeevan Lakshya

    Uploaded by

    Vivek Sharma
    61 views1 page
    This document summarizes a JEEVAN LAKSHYA insurance policy. The policy pays out a fixed amount at the end of the 15-year term if the policyholder survives, or pays yearly amounts to beneficiaries and the fixed amount if the policyholder dies prematurely. On maturity, the policyholder receives XXX amount, and on death, yearly payments of 10% of premiums plus the fixed amount. The policy can be revived within 2 years of lapse and surrendered for a return of 30-90% of premiums after 2 years, depending on year. It also provides tax benefits and allows loans after a number of years.

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    This document summarizes a JEEVAN LAKSHYA insurance policy. The policy pays out a fixed amount at the end of the 15-year term if the policyholder survives, or pays yearly amounts to beneficiaries and the fixed amount if the policyholder dies prematurely. On maturity, the policyholder receives XXX amount, and on death, yearly payments of 10% of premiums plus the fixed amount. The policy can be revived within 2 years of lapse and surrendered for a return of 30-90% of premiums after 2 years, depending on year. It also provides tax benefits and allows loans after a number of years.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    61 views1 page

    Jeevan Lakshya

    Uploaded by

    Vivek Sharma
    This document summarizes a JEEVAN LAKSHYA insurance policy. The policy pays out a fixed amount at the end of the 15-year term if the policyholder survives, or pays yearly amounts to beneficiaries and the fixed amount if the policyholder dies prematurely. On maturity, the policyholder receives XXX amount, and on death, yearly payments of 10% of premiums plus the fixed amount. The policy can be revived within 2 years of lapse and surrendered for a return of 30-90% of premiums after 2 years, depending on year. It also provides tax benefits and allows loans after a number of years.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    JEEVAN LAKSHYA

    Table 845

    Idea behind the policy: A fixed amount is paid to the policy holder or the survivor at the end of
    the policy term. In case of untimely death of the policy holder yearly amounts are paid to the
    nominee and at the end of the policy term the fixed amount is also paid.

    Age: 25 years
    PPT: 15 years
    Insurance Cover: 500000
    Returns

    On maturity: INR XXX


    On Death: yearly payment of almost 10% of the premium amount plus the fixed amount on the
    policy term end date.

    Other details

    Revival: can be revived until 2 years from last paid premium


    Lapsed policy: Policy can be surrendered/encashed anytime after two premium payments.
    Return calculation varies from 30% in first year to up to 90% in last year (of premium paying
    term).

    Other Benefits

    Tax: Tax rebate on premiums paid under . Tax return on maturity amount received under .
    Loan: Loan can be availed after xxx years of premium paid.
    Surrender: Policy can be surrendered after 3 premiums have been paid.

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