LIC Jeevan Labh Plan 736

LIC Jeevan Labh Plan 736 Overview

LIC's Jeevan Labh Plan 736 is a participating, non-linked, **limited premium paying endowment plan**. This plan offers a combination of protection and savings. Due to its limited premium payment feature, you pay premiums for a shorter duration (e.g. 10, 15, or 16 years) but enjoy coverage and benefits for a longer duration (16, 21, or 25 years respectively). It is widely popular for high maturity yields.

Eligibility & Rules

• Entry Age: 8 to 59 Years
• Policy Term: 16, 21, or 25 Years
• Premium Paying Term: 10, 15, or 16 Years
• Minimum Sum Assured: ₹2,00,000

Key Plan Benefits

• Death Benefit: Sum Assured on Death + Vested Simple Reversionary Bonuses + Final Additional Bonus.
• Maturity Benefit: Basic Sum Assured + Vested Simple Reversionary Bonuses + Final Additional Bonus.
• Limited Premium: Pay premiums for a much shorter duration than the actual policy cover period.

Standard Policy Features

• Grace Period: 30 days for Yearly, Half-Yearly, and Quarterly premium payment modes, and 15 days for Monthly mode.
• Free Look Period: 30 days from the date of receipt of the policy document to review the terms and conditions.
• Loan & Surrender Facility: The policy acquires a Surrender Value and Loan facility after the payment of 2 full years' premiums.
• Tax Benefits: Premiums paid are eligible for tax deduction under Section 80C, and maturity/death benefits are tax-free under Section 10(10D), subject to prevailing tax laws.

Example Calculation

Note: The values shown above are indicative examples. Actual premiums and maturity amounts may vary based on exact age, riders, and declared bonus rates.