LIC Jeevan Labh Plan (T-936) is a Limited Premium Paying with Profits Endowment Plan which is suitable for creating a big corpus for children’s marriage purpose. Policyholder can choose to pay premium for 10 years and maturity at 16 th year (Free Risk Cover for 6 years) OR Pay Premium for 15 years and Maturity at 21 st year ( Free Risk Cover for 6 years) OR Pay Premium for 16 years and Maturity at 25 th year (Free Risk Cover for 9 years).
Why Should I Invest in LIC Jeevan Labh Plan:
- Cover wide age group from 08 to 59 years.
- Starting Early Enables to Build a Big Corpus with Small Savings.
- To Beat Inflation.
- To Ensure Your Financial Stability in Future.
- To Achieve Your Financial Goals.
- To Ensure Financial Stability For Your Dependents.
- Short Term And Long Term Both Options Available.
- Eligible for Bonuses and Final Addition Bonuses declared by LIC.
- Term Rider Benefit Available.
- Double Accident Rider Available.
- PWB Rider is also available in this plan for minors.
- Double Tax Benefit Available (Premium Paid gives 80C Tax Benefit upto Rs. 1,50,,000 and Maturity is also Tax Free under section 10(10D)).
- Loan and Surrender Facility Available.
- On completion of policy term, Sum Assured + Bonus + Final Addition Bonus will be paid as maturity.
Death Claim Benefit:
- In case of death during policy term of the plan, Sum Assured Along With Bonus and Final Addition Bonus Will Be Paid to the Nominee.
|Minimum Age to Apply||8 Years (Completed)|
|Maximum Age to Apply|
|59 Years for 16 Year Term|
|54 Years for 21 Year Term|
|50 Years for 25 Year Term|
|Policy Term (Premium Payment Term)||16(10), 21(15), 25(16)|
|Maximum Maturity Age||75 Years|
|Premium Paying Mode||Yearly, Half Yearly, Quarterly, Monthly(ECS)|
|Basic Sum Assured||2,00,000 and above (in multiple of 10,000)|
|Loan||After 3 years|
|Surrender||After 3 years of full premium payment|