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Introduction

It is a non-linked, limited premium policy that provides a cover for the untimely death of the policy holder along with a huge assured sum at the time of maturity. LIC Jeevan Labh Plan (T-936) is a Limited Premium Paying with Profits Endowment Plan which is suitable for creating a big corpus for children’s marriage purpose. Policyholder can choose to pay premium for 10 years and maturity at 16 th year (Free Risk Cover for 6 years) OR Pay Premium for 15 years and Maturity at 21 st year ( Free Risk Cover for 6 years) OR Pay Premium for 16 years and Maturity at 25 th year (Free Risk Cover for 9 years).

Why Jeevan Labh Plan

It is a combination of protection and savings. If the policy holder is not dead at the maturity, a lump-sum of the amount is provided.

Key Features

The loan provided on the policy is also taken care of with no extra charge.

  • Cover wide age group from 08 to 59 years.
  • Starting Early Enables to Build a Big Corpus with Small Savings.
  • To Beat Inflation.
  • To Ensure Your Financial Stability in Future.
  • To Achieve Your Financial Goals.
  • To Ensure Financial Stability For Your Dependents.
  • Short Term And Long Term Both Options Available.
  • Eligible for Bonuses and Final Addition Bonuses declared by LIC.
  • Term Rider Benefit Available.
  • Double Accident Rider Available.
  • PWB Rider is also available in this plan for minors.
  • Double Tax Benefit Available (Premium Paid gives 80C Tax Benefit upto Rs. 1,50,,000 and Maturity is also Tax Free under section 10(10D)).
  • Loan and Surrender Facility Available.

Death Benefits

105% on the return of all the premiums paid but on certain terms and conditions. In case of death during policy term of the plan, Sum Assured Along With Bonus and Final Addition Bonus Will Be Paid to the Nominee.

Maturity Benefit

The sum assured will be paid if the policy holder is still alive provided that all the premiums have been paid. On completion of policy term, Sum Assured + Bonus + Final Addition Bonus will be paid as maturity.

Eligibility Criteria:

Minimum Age to Apply 8 Years (Completed)
Maximum Age to Apply
59 Years for 16 Year Term
54 Years for 21 Year Term
50 Years for 25 Year Term
Policy Term (Premium Payment Term) 16(10), 21(15), 25(16)
Maximum Maturity Age 75 Years
Premium Paying Mode Yearly, Half Yearly, Quarterly, Monthly(ECS)
Basic Sum Assured 2,00,000 and above (in multiple of 10,000)
Loan After 3 years
Surrender After 3 years of full premium payment
 
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