LIC Jeevan Lakshya 933 is a with-profit savings plan sold from 1 February 2020 to 1 October 2024. It runs 13 to 25 years with premiums for 3 years less, and if the policyholder dies, the family gets 10% of the sum assured yearly plus a maturity lump sum. A 30-year-old with ₹10 lakh cover over 20 years pays about ₹53,096 a year.
Jeevan Lakshya 933 Premium, Maturity & Income Calculator
Your estimate
- Premium per instalment
- ₹26,548
- Premium paying term
- 17 years
- Total premium paid
- ₹4,51,316
- Total bonus (estimated)
- ₹4,50,000
- Final additional bonus
- ₹10,000
- Annual income to family on death15 payments if death is in year 5
- ₹50,000
- Lump sum to family at maturity date
- ₹6,72,500
- Death benefittotal if death is in policy year 5
- ₹14,22,500
- Age at maturity
- 50 years
- Total premium paid₹4,51,31647%
- Net gain₹5,08,68453%
Payouts to the family if death happens in policy year 5
| End of policy year | Annual income (10% of SA) | Lump sum (110% of SA + bonuses) |
|---|---|---|
| 5 | ₹50,000 | ₹0 |
| 6 | ₹50,000 | ₹0 |
| 7 | ₹50,000 | ₹0 |
| 8 | ₹50,000 | ₹0 |
| 9 | ₹50,000 | ₹0 |
| 10 | ₹50,000 | ₹0 |
| 11 | ₹50,000 | ₹0 |
| 12 | ₹50,000 | ₹0 |
| 13 | ₹50,000 | ₹0 |
| 14 | ₹50,000 | ₹0 |
| 15 | ₹50,000 | ₹0 |
| 16 | ₹50,000 | ₹0 |
| 17 | ₹50,000 | ₹0 |
| 18 | ₹50,000 | ₹0 |
| 19 | ₹50,000 | ₹0 |
| 20 | ₹0 | ₹6,72,500 |
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC Jeevan Lakshya Plan 933?
LIC Jeevan Lakshya Plan 933 (UIN 512N297V02) is a non-linked, with-profit, limited premium savings plan aimed at protecting a family goal. It was launched on 1 February 2020, replacing the earlier Jeevan Lakshya 833, and was withdrawn on 1 October 2024, when Jeevan Lakshya 733 took its place.
If you hold a 933 policy, it runs to maturity on its original terms. The calculator above helps you see what you pay, what you are likely to receive and what your family would get if something happened to you.
Jeevan Lakshya 933 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 933 / 512N297V02 |
| Sold | 1 Feb 2020 to 1 Oct 2024 |
| Policy term | 13 to 25 years |
| Premium paying term | Policy term minus 3 years |
| Entry age | 18 to 50 years |
| Maximum maturity age | 65 years |
| Minimum sum assured | ₹1,00,000, in multiples of ₹10,000 |
| Death benefit | 10% of SA yearly + 110% of SA and bonuses at maturity |
| Status | Withdrawn; existing policies continue |
How the premium works
The premium comes from a table of rates per ₹1 lakh of sum assured, set by age and term. Longer terms mean much lower yearly premiums. A high sum assured rebate applies from ₹2 lakh (larger from ₹5 lakh), and yearly or half-yearly payment earns a 2% or 1% mode rebate.
Example. For a 30-year-old with ₹10 lakh cover over 20 years, the calculator shows about ₹53,096 a year for 17 years, or ₹9,02,632 in total. Since 22 September 2025 no GST is added; receipts from before that date show about ₹54,291 because of the 2.25% GST then charged on renewals.
A 35-year-old with ₹5 lakh over 25 years paying monthly pays about ₹1,750 a month (roughly ₹20,580 a year) for 22 years.
Maturity benefit
On survival to the end of the term, LIC pays the basic sum assured + simple reversionary bonuses + final additional bonus (if declared). In the ₹10 lakh, 20-year example, a ₹45 bonus rate adds ₹9,00,000, and with an illustrative ₹20,000 final bonus the estimate is about ₹19,20,000. For the ₹5 lakh, 25-year policy it is about ₹10,72,500. Check your yearly bonus statement to fine-tune the bonus rate.
Death benefit and family income
If the life assured dies during the term, no further premiums are payable and the family receives:
- 10% of the basic sum assured every year, from the policy anniversary after death up to the anniversary before maturity; and
- on the maturity date, 110% of the basic sum assured plus bonuses vested up to death and any final additional bonus.
Example. In the ₹10 lakh, 20-year policy, if death happens in policy year 8, the family gets ₹1,00,000 a year for 12 years and then ₹14,80,000 at maturity: about ₹26,80,000 in total. In the ₹5 lakh, 25-year case with death in year 3, the total is about ₹17,27,500. The calculator’s table lists each payment for any year you choose.
Tip: make sure your nominee knows that the payout is spread over years. Many families expect a single cheque and are surprised by the yearly income structure.
Loan, surrender and paid-up value
Once two full years’ premiums are paid, the policy acquires a surrender value, and a loan can be taken against it. If premiums stop after that, the policy continues as paid-up with a reduced sum assured. Before surrendering, estimate the payout with our LIC surrender value calculator; in most cases continuing is the better deal.
Tax benefits
Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the old regime. Maturity is generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) if the premium is within 10% of the sum assured; for 933 policies issued on or after 1 April 2023, the ₹5 lakh total premium limit also applies. Death benefits are tax-free.
How 933 differs from 733 and 833
The family income design, 13 to 25-year terms and “term minus 3” premium period are the same in all three versions. Plan 933 kept the ₹1 lakh minimum sum assured of 833 but used updated rates and rules from 2020. Plan 733, the current version, raised the minimum to ₹2 lakh and follows the October 2024 surrender value rules.
How to use this calculator
Enter the age at entry, term and sum assured shown on your bond, pick your premium mode and set a bonus rate close to LIC’s recent declarations. Choose a policy year to view the family income schedule. All figures are estimates.
Frequently asked questions
Can I still buy LIC Jeevan Lakshya 933?
No. Plan 933 was withdrawn on 1 October 2024 and replaced by Jeevan Lakshya 733. Policies bought before that date continue unchanged, with the same premiums, bonuses and family income benefit.
What does the family get if a Jeevan Lakshya 933 policyholder dies?
Premiums stop. The family receives 10% of the basic sum assured every year from the anniversary after death until the year before maturity, and then 110% of the sum assured plus vested bonuses on the maturity date. The total is at least 105% of premiums paid.
What is the maturity value of Jeevan Lakshya 933?
The basic sum assured plus simple reversionary bonuses and any final additional bonus. For ₹10 lakh over 20 years at a ₹45 bonus rate with an illustrative ₹20,000 final bonus, the estimate is about ₹19.2 lakh.
Is there GST on my Jeevan Lakshya 933 premium?
Not any more. Individual life insurance premiums became GST-exempt from 22 September 2025. Before that, renewal premiums carried 2.25% GST, so older receipts show a slightly higher amount than the base premium.
How many years do I pay premiums in Jeevan Lakshya 933?
Three years less than the policy term. A 20-year policy needs 17 years of premiums and a 25-year policy needs 22. Cover and bonuses continue for the last three years without any payment.
Should I surrender Jeevan Lakshya 933 and buy 733?
Usually not. Surrendering locks in a loss and a new policy would be priced at your current, older age. Plan 933 already gives the same family income design as 733, so keeping it is normally the better choice.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.