LIC Jeevan Lakshya Calculator: Premium, Maturity Value and Family Income Benefit

What does the Jeevan Lakshya calculator do?

LIC Jeevan Lakshya is a with-profit endowment plan made for one clear job: making sure a family goal, usually a child’s education or marriage, gets funded whether or not the parent is around. This calculator shows three things at once:

• the premium you pay for your age, term and sum assured;
• the maturity value if you survive the term;
• the family income your nominee would receive every year if you die during the term.

It works for the current Plan 733 and gives a close guide for existing Plan 933 and 833 policyholders. It is an independent planning tool, so treat the numbers as estimates and confirm the final premium on LIC’s quote.

Jeevan Lakshya at a glance

Feature	Details
Current version	Plan 733 (from 1 October 2024)
Earlier versions	Plan 933 (2020–2024), Plan 833 (2015–2020)
Entry age	18 to 50 years
Policy term	13 to 25 years
Premium paying term	Policy term − 3 years
Maximum maturity age	65 years
Minimum sum assured	₹2,00,000 (Plan 733); no upper limit
Death benefit	10% of sum assured yearly + lump sum at maturity
Maturity benefit	Sum assured + bonuses + final additional bonus

How it works

1. Rate per ₹1,000. The calculator uses the same engine as our Jeevan Lakshya 733 page, built on the sample premiums in LIC’s sales brochure. For example, the brochure lists ₹9,222 a year for a 30-year-old with ₹2 lakh cover over 25 years, and the calculator matches it. The rate rises with age, and a shorter term means fewer premium years, so the yearly rate is higher. LIC publishes one rate for all standard lives, with no separate rate for women.
2. Rebates. A high sum assured rebate of ₹4 per ₹1,000 applies from ₹5 lakh and ₹5 per ₹1,000 from ₹10 lakh. Paying yearly saves 2% of the tabular premium and half-yearly 1%; quarterly and monthly get no rebate.
3. Maturity. Sum assured + (bonus per ₹1,000 × sum assured ÷ 1,000 × term) + an assumed final additional bonus per ₹1,000.
4. Death benefit. Yearly income of 10% of the sum assured from the next policy anniversary until one year before maturity. On the maturity date, 110% of the sum assured plus bonuses. The total paid is never less than 105% of premiums paid.

No GST is added. Individual life insurance premiums have been GST-exempt since 22 September 2025. Before that, 4.5% applied in the first year and 2.25% after.

Worked example

A 30-year-old takes ₹5 lakh cover for 25 years, paying yearly:

Result	Amount
Yearly premium	₹21,055
Premium paying term	22 years
Total premium paid	₹4,63,210
Estimated maturity at age 55 (₹49 bonus, ₹20 final bonus)	₹11,22,500
Yearly family income on death	₹50,000
Lump sum on maturity date after death	₹5,50,000 + bonuses
Family income if death in year 1	₹12,00,000 over 24 years

If he survives, he gets about 2.4 times what he paid. If he dies in year 5, his family stops paying premiums and gets ₹50,000 every year until year 24. Then it receives ₹5.5 lakh plus the bonuses added so far. For a child aged 5 today, that yearly income arrives right through school and college.

A bigger cover over a shorter term. With ₹10 lakh for 21 years, the premium is about ₹51,068 a year for 18 years (about ₹9.19 lakh in total). The maturity estimate is about ₹20.49 lakh, and the family income on death would be ₹1 lakh a year.

Tip: match the term to the year your child turns 18–21. If your child is 4, a 17-year term ends as college begins, and the income benefit covers the school years if something happens to you.

How to read the results

• Yearly premium: the base premium for yearly payment, the amount you pay.
• Instalment premium: each payment in your chosen mode.
• Total premium paid: all instalments across the premium paying term.
• Maturity benefit: your estimate if you survive. It moves with the bonus rate, so try ₹40 as a cautious case (₹10.1 lakh in the example).
• Yearly income to family on death: 10% of the sum assured, paid every year.
• Lump sum on maturity date after death: paid to the family at the end of the term, with bonuses.
• Death benefit: the total the family would receive if death happens in the policy year you choose. The table below the results shows the year-by-year payouts.

Tips and common mistakes

• Mind the maturity age. The policy must end by 65, so older buyers get shorter terms and higher premiums.
• Don’t under-insure. ₹50,000 a year may not cover fees 15 years from now. Size the sum assured so that 10% of it covers the yearly cost you want to protect.
• Keep paying. Early surrender returns less than you paid. Check the surrender value calculator before stopping premiums.
• Add term cover if needed. Jeevan Lakshya protects a goal, not your family’s full income. A separate term plan fills that gap cheaply.

Plan versions and related tools

• Plan details: Jeevan Lakshya 733 (current) and Jeevan Lakshya 933 for existing policyholders.
• Want to finish paying sooner? Compare with the LIC endowment plan calculator, which includes Jeevan Labh 736.