LIC Jeevan Labh Plan 936
Offline Premium & Maturity Calculator
LIC Jeevan Labh Plan 936 Overview
LIC Jeevan Labh Plan 936 is the latest limited premium paying endowment plan offering an excellent combination of protection and savings. It is a participating plan where premium payment is limited to a shorter period than the policy term.
Eligibility & Rules
- Minimum Sum Assured: ₹2,00,000
- Maximum Sum Assured: No Limit
- Policy Term Options: 16, 21, or 25 Years
- Premium Paying Term (PPT): 10, 15, or 16 Years respectively
- Entry Age: 8 to 59 Years
Key Plan Benefits
- Death Benefit: 7 times of annualized premium or Basic Sum Assured + Vested Bonus + FAB.
- Maturity Benefit: Basic Sum Assured + Vested Simple Reversionary Bonuses + Final Additional Bonus.
Detailed Maturity Benefit
Basic Sum Assured + Vested Simple Reversionary Bonuses + Final Additional Bonus (if any). Payable on surviving the policy term.
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
| Parameter | Value |
|---|---|
| Sum Assured | ₹5,00,000 |
| Age / Policy Term | 30 / 25 (PPT 16) Years |
| Yearly Premium (Approx) | ₹23,500 |
| Total Paid Premium | ₹3,76,000 |
| Maturity / Total Benefits | ₹13,50,000 |
Calculating…