Jeevan LABH Endowment

JEEVAN LABH Endowment Plan-(lic table no 836)

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 836
JEEVAN LABH ENDOWMENT 836

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 PolicyMaximum age at Entry 
16Max. age is 59 yrs. 
21Max. age is 54 yrs. 
25Max. age is 50 yrs. 
JEEVAN LABH Endowment plan 836 Eligibility
Policy Term16, 21, 25 yrs.
Premium Payment Term10, 15, 16 yrs.
Min. Sum AssuredRs. ,200,000.
Max. Sum AssuredNo Limit.
Premium payment modeSSS, ECS, Quarterly, Half Yearly and Yearly.
Max. Accident Death Benefit50 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 ModePercentage(%)
Yearly Mode2%
Half yearly Mode1%
Quarterly and MonthlyNil

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. 4,90,000NIL
Rs. 5,00,000 to Rs. 9,90,0001.25 % of(B.S.A)
Rs. 5,00,000 to Rs. 9,95,0001.50 % 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 YearAge at MaturityMaturity Amount(approx)
2037461085500

Following table provides details of year-wise risk cover.

YearAgeRisk Cover NormalRisk Cover AccidentalPremiumTax SavedNet PremiumAmount Received
2016255255001025500277498033197160
2017265510001051000272638033192300
2018275765001076500272638033192300
2019286020001102000272638033192300
2020296275001127500272638033192300
2021306530001153000272638033192300
2022316785001178500272638033192300
2023327040001204000272638033192300
2024337295001229500272638033192300
2025347550001255000272638033192300
2026357805001280500272638033192300
2027368060001306000272638033192300
2028378315001331500272638033192300
2029388570001357000272638033192300
2030398925001392500272638033192300
20314092050014205000000
20324194850014485000000
20334297650014765000000
203443100950015095000000
203544104500015450000000
203645108550015855000000
203746000001085500
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.

Services that I offer

  • New LIC Policy Quotes and Completion
  • Complete guidance
  • Doorstep Premium Collection Service
  • Personalized Policy Recommendations
  • Renewal / Revival of Lapsed Policies
  • Human Life Value Calculation
  • Life Time Services

FOR MORE INFORMATION PLEASE CONTACT -:

BASPA NAND PANCHOLI

CON.9891009400

 Emailbasupancholi@gmail.com

Office Address:-

25,KG,Marg,Jeevan Prakash Building.

LIC of India,Branch Unit-117.

3rd floor,C.P. New Delhi-110001.

LIC’s Others ENDOWMENT PLAN

LIC New Endowment

LIC New Jeevan Anand

LIC Jeevan Lakshya

LIC New Jeevan Labh Endowment

LIC Jeevan Pragati

LIC New Limited Premium Endowment

LIC’s Jeevan Rakshak Plan Table no 827

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