Jeevan Lakshya's core value proposition is the income-replacement death benefit. Unlike a standard endowment that pays a single lump sum on death, this plan mimics the earner's salary: 10% of the basic sum assured every year until the policy's original maturity date, then 110% of BSA plus full bonuses as a terminal payout. For a parent with young children, this structure ensures school fees, household expenses, and other recurring costs are met year by year rather than relying on the nominee to invest a lump sum sensibly. The limited-pay structure (PPT = term − 3) provides a three-year premium-free tail — a minor convenience feature that does not meaningfully change the economics.

• The annual income benefit (10% of BSA per year) mimics a salary — it is structurally better for families with recurring obligations than a single lump-sum death payout.
• Maturity SA is 110% of BSA, not 100% — the slight upside over a standard endowment does not materially move the XIRR but is a genuine contractual improvement.
• PPT is term minus three years, so you stop paying three years before maturity. The premium-free tail is a real convenience but the savings are partially baked into the pricing.
• The FAB table for Jeevan Lakshya is notably lower than for standalone endowments at the same duration — the insurer effectively subsidises the income-replacement feature from the FAB pool.
• High SA rebate is only 0.4% at ₹5L and 0.5% at ₹10L — smaller than the 2.5–4% rebate in Plan 714. At large ticket sizes, 714 is incrementally cheaper per unit of SA.
• The plan was withdrawn for fresh sale in 2025-26. Existing policyholders retain all benefits contractually; the income-plus-lumpsum death structure is frozen as illustrated.

Asymmetrica isn't an insurance advisor. The opinions above are editorial; the numbers in the calculator are computed from the plan's own brochure. Read both, then decide.