Jeevan LABH Endowment

JEEVAN LABH Endowment Plan-(lic table no 836)

Table of Contents

LIC of India plan Jeevan Labh Endowment (LIC TABLE NO 836) is a traditional plan which means not related to market. LIC Jeevan Labh Endowment plan is a combination of insurance and savings. “LIC’s Jeevan Labh Endowment 836″ is a participating limited premium paying, non-linked, with-profit endowment Insurance Plan. Jeevan Labh Endowment 836 Plan is a comprehensive Endowment plan that ensure a financially secure and guarantees your peace of mind.

Jeevan Labh Endowment plan 836 provides financial protection for the family of the deceased policyholder any time before maturity. The main benefit of Jeevan Labh plan is it has the limited premium payment option. For the 16-years policy term policy holder have to pay the premium for 10 years and 21 and 25 years of policy term policy holder have to pay the premium for 15 and 16 years respectively.

JEEVAN LABH Endowment plan 836 Eligibility

Minimum age at Entry – 8 years (Completed).

Maximum age at Entry

Term of the Policy	Maximum age at Entry
16	Max. age is 59 yrs.
21	Max. age is 54 yrs.
25	Max. age is 50 yrs.

JEEVAN LABH Endowment plan 836 Eligibility

Policy Term	16, 21, 25 yrs.
Premium Payment Term	10, 15, 16 yrs.
Min. Sum Assured	Rs. ,200,000.
Max. Sum Assured	No Limit.
Premium payment mode	SSS, ECS, Quarterly, Half Yearly and Yearly.
Max. Accident Death Benefit	50 LACS.

JEEVAN LABH Endowment plan 836 Eligibility

LIC Limited Endowment Plan Rebates

Rebate means discount on premium.Two rebates in this policy one is Mode Rebate and another is Sum Assured Rebate.

Mode Rebate: Rebate given based on premium payment mode chosen.

Premium Payment Mode	Percentage(%)
Yearly Mode	2%
Half yearly Mode	1%
Quarterly and Monthly	Nil

High Sum Assured Rebate: High Sum assured Rebate Based on Sum assured means Policy Value.

Basic Sum Assured (BSA)	Rebate per Rs. 1000 /- S.A.
Rs. 2,00,000 to Rs. 4,90,000	NIL
Rs. 5,00,000 to Rs. 9,90,000	1.25 % of(B.S.A)
Rs. 5,00,000 to Rs. 9,95,000	1.50 % of (B.S.A)

LIC JEEVAN LABH Endowment Policy Maturity Benefits

LIC Bima 836 Maturity Benefit = Sum Assured on Maturity + Vested Simple Reversionary Bonuses + Final Additional Bonus (FAB).

Sum Assumed on Maturity: On Survival to the end of the policy term, Sum Assumed on Maturity, Vested Simple Reversionary Bonuses, and Final Additional Bonus if any will be paid.

LIC JEEVAN LABH Endowment Plan Death Benefits

Jeevan Labh Endowment Death Benefit = Sum Assured on death + Vested Simple Reversionary Bonuses + Final Additional Bonus(FAB).

Sum Assured on Death: On the death of the policyholder during the policy term, Sum Assured on death, Vested Simple Reversionary Bonuses, and Final Additional Bonus will be paid.
Sum Assured on Death is 10 times higher than the annualized premium.
Death Benefit: The Death Benefit shall not be less than 105% of the total premium paid as on death.

LIC JEEVAN LABH Endowment Policy Surrender Value

Policy can be surrendered after 3 years.

After 3 years, if premium is not paid by the policy holder then policy becomes reduced paid up means policy value will be changed based on premium paid till that time. No Further Bonus will be added. But policy will not become inactive fully. Sum assured on death becomes reduced paid up sum assured amount and maturity sum assured becomes reduced paid up sum assured.

Benefit Example for LIC jeevan labh plan

An example of VINOD who is purchasing this Plan with following details.

Sum Assured: Rs.5,00,000
Policy Term: 21 Years

Premium Payment Term:15 Years
Policy Purchase Year: 2016
Age: 25 Years
Yearly Premium: Rs. 27749

Maturity Details

If policy holder survives the policy term ( i.e. 21 years ), Maturity will be as under.

Maturity Year	Age at Maturity	Maturity Amount(approx)
2037	46	1085500

Following table provides details of year-wise risk cover.

Year	Age	Risk Cover Normal	Risk Cover Accidental	Premium	Tax Saved	Net Premium	Amount Received
2016	25	525500	1025500	27749	8033	19716	0
2017	26	551000	1051000	27263	8033	19230	0
2018	27	576500	1076500	27263	8033	19230	0
2019	28	602000	1102000	27263	8033	19230	0
2020	29	627500	1127500	27263	8033	19230	0
2021	30	653000	1153000	27263	8033	19230	0
2022	31	678500	1178500	27263	8033	19230	0
2023	32	704000	1204000	27263	8033	19230	0
2024	33	729500	1229500	27263	8033	19230	0
2025	34	755000	1255000	27263	8033	19230	0
2026	35	780500	1280500	27263	8033	19230	0
2027	36	806000	1306000	27263	8033	19230	0
2028	37	831500	1331500	27263	8033	19230	0
2029	38	857000	1357000	27263	8033	19230	0
2030	39	892500	1392500	27263	8033	19230	0
2031	40	920500	1420500	0	0	0	0
2032	41	948500	1448500	0	0	0	0
2033	42	976500	1476500	0	0	0	0
2034	43	1009500	1509500	0	0	0	0
2035	44	1045000	1545000	0	0	0	0
2036	45	1085500	1585500	0	0	0	0
2037	46	0	0	0	0	0	1085500

Additional Information

Revival: Policy should be revived before 3 years from last un-paid premiums.

Loan Facility: Loan facility is available under LIC Jeevan Labh plan, after at least 3 full years payment of premiums.

Riders Facility:Accidental Death and Disability Benefit Rider and Term Assurance Rider.

Suicide Clause: If Policy Holder Committed Suicide within 12 month from date of taking the policy 80% of paid premium will be returned back. If committed suicide after 1 year. Full Sum assured + Bonus will be paid by LIC to their nominee.

Cooling off Period: Policy holder can return back policy within 15 days from date of receiving the policy.

Date Backing Facility: Available.

Proposal Form: Form No 300,340,360.