LIC’s Jeevan Labh Plan (Plan No. 836)   

               Lic’s Jeevan Labh plan is a popular endowment assurance plan offered by the Life Insurance Corporation of India (LIC). Here’s a detailed breakdown of its features:

Plan Type:

Limited premium paying, non-linked, with-profits endowment assurance plan.

Basic Sum Assured:
Minimum: Rs. 2,00,000/-
Maximum: No Limit
Policy Term Options:
16 years
21 years
25 years
Premium Paying Term:
For 16-year term: 10 years
For 21-year term: 15 years
For 25-year term: 16 years
Entry Age:
Minimum: 8 years (completed)
Maximum: 59 years (nearer birthday)
Maximum Age at Maturity for Life Assured:
75 years
Premium Payment Modes:
Yearly
Half-yearly
Quarterly
Monthly
Additional Benefits:

Accidental Death & Disability Benefit Rider is available on payment of additional premium.
Benefit Details:
On Death:
Sum Assured + Vested Bonus + FAB if any
Where ‘S.A. on Death’ is the higher of:
10 times of Annualized Premium, OR
105% of all Premiums paid on death
On Survival:
Basic Sum Assured + Vested Bonus + FAB if any
Surrendered Value:
The policy can be surrendered at any time during the policy term provided at least 3 full years of premiums have been paid.
Loan Facility:
A loan facility is available under this plan after payment of premiums for at least 3 full years.
Tax Benefits:
Premiums paid under this plan are eligible for TAX rebate under section 80c.
Maturity under this plan is tax-free under section 10(10D).
This plan offers a combination of protection and savings, ensuring financial security for you and your loved ones. It provides a lump sum benefit on death or survival till maturity along with bonuses and additional riders for enhanced coverage. With flexible premium payment options and tax benefits, LIC’s Jeevan Labh Plan is designed to meet your long-term financial goals and provide peace of mind.