LIC’s Jeevan Labh Plan (836) is a limited premium paying, non-linked, with-profits Endowment Assurance plan.• Minimum Basic Sum Assured: Rs. 2,00,000/-
• Maximum Basic Sum Assured: No Limit
• Minimum Policy Term: 16 Year OR 21 Year OR 25 Year
• Premium Paying Term: For Term 16 Year PPT 10 year , For Term 21 Year PPT 15 Year , For Term 25 Year PPT 16 year
• Minimum Entry Age: 8 years (completed)
• Maximum Entry Age: 59 years (nearer birthday)
• Maximum Age at Maturity for Life Assured: 75 years
• Mode of Premium Payment: Yearly, half-yearly, quarterly & monthly
• Accidental Death & Disability Benefit Rider is available on payment of additional premium.
LIC’s Jeevan Labh Benefit Details
• On Death: “Sum Assured + Vested Bonus + FAB if any.”
• Where ‘S.A. on Death’ is defined as the higher of
i. 10 times of Anualized Premium, OR
ii. 105%of all Premiums paid as on death
• On Survival : 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 atleast 3 full years premiums have been paid.
• Loan : Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.
• Income Tax Benefit: Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).