LIC Jeevan Labh Plan is a limited premium endowment plan. It provides both risk cover and savings providing financial support to the aggrieved family in case of the sudden demise of the insured life. It is a traditional non linked plan.
In case of the unfortunate death of the policy holder during the policy term, the nominee receives a sum of Sum Assured, Simple Revisionary Bonus and Final Addition Bonus if any. The death benefit under LIC Jeevan Labh Plan 836 cannot be less than 105% of all premiums paid till the date of death.
LIC Jeevan Labh pays a sum of Sum Assured and Accumulated Bonuses on the date of maturity of the plan provided all premiums have been paid.
Apart from the above LIC Jeevan Labh benefits, the following optional benefits can be availed
|Eligibility Criteria & Conditions|
|Minimum Age||8 years(Completed)|
|Maximum Age||59 years for 16 years policy term
54 years for 21 years policy term
50 years for 25 years policy term
|Policy Term||16 years / 21 years / 25 years|
|Premium paying term||10 years for policy term 16 years
21 years for policy term 15 years
25 years for policy term 16 years
|Minimum Sum Assured||Rs.2,00,000|
|Maximum Sum Assured||No limit|
|Premium payment mode||Yearly / Half yearly / Quarterly / Monthly (Thru bank)|
|Loan||Eligible after 3 years|
|Surrender||Eligible after 3 years|
|On Death||Sum Assured + Bonus|
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