Jeevan Labh Plan (Table No. 836)

LIC's Jeevan Labh Plan is a Non-Linked Limited Premium Paying Endowment Assurance Plan.This plan offers a combination of protection and saving features. Lic New Jeevan Labh Plan provides Optional Benefit, Accidental Death and Disability Benefit Rider by payment of additional premium.LIC New Jeevan Labh Plan primary feature is a limited premium payment option. For 16-year policy term, the customer has to pay a premium for 10 years. For 21 and 25 years of the policy term, the policyholder has to pay the premium for 15 and 16 years respectively.

Key Features:

High bonus rates ensures financial independency in future.

Financial Assistance is provided to the family of Life Assured if dies before the Maturity Period.

At the time of Maturity of the Policy, lump sum amount is provided to the Policyholder.

The Proposer can avail the LIC’s Accidental Death and Disability Benefit Rider and LIC’s New Term Assurance Rider option on payment of additional premium.

Paid premiums are exempted from income tax under 80C

Maturity amount is tax free under 10 (10D)

Eligibility Criteria Of Jeevan Labh Plan
Minimum Age at Entry	8 Years (Completed)
Maximum Age at Entry	59 Years For 16 Year Policy Term 54 Years For 21 Year Policy Term 50 Years For 25 Year Policy Term
Maximum Maturity Age	75 Years(Nearest Birthday)
Policy Term & (Premium Paying Term)	16 & (10), 21 & (15), 25 & (16)
Minimum Sum Assured	200000/-
Maximum Sum Assured	No Limit (sum assured in multiple 10000/-)
Policy Mode	Yearly, Half-Yearly, Quaterly, Monthly (NACH only) Calculate Your Premium
Rebate Of Mode Of Premium	Yearly-2% Half-Yearly-1% Quaterly & Monthly-Nil
High Sum Assured Rebate	2,00,000 to 4,95,000 - Nil 5,00,000 to 9,90,000 - 1.25% on B.S.A. 10,00,000 to 14,90,000 - 1.50% on B.S.A. 15,00,000 and above - 1.75% on B.S.A.
Loan	After payment of premiums for at least 3 full years
Surrender	Allowed after 3 year

Benefits of Jeevan Labh Endowment Plan

Maturity Benefits:

In case of life assured survives through the policy term, s/he will receive Sum Assured on Maturity together with vested revisionary bonuses and Final Additional Bonus, if any.

Maturity benefit (Benefits payable on maturity) = Basic Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.

Death Benefits:

The Nominee will receive the Death Benefit from the Corporation if the Policyholders Death occurs during the Policy Term. The Death Benefit should not be less than the 105% of all the premiums paid as on date of death.

Sum Assured on Death = 10 Times of Annualised Premium or Absolute Amount assured to be paid on Death, i.e., Basic Sum Assured.