JEEVAN LABH VS ENDOWMENT PLAN

1. Premium payment is lesser.

There are many endowment plans in LIC like table no. 814  (Normal Endowment Plan), 815 ( New Jeevan Anand), 833 ( LIC Jeevan Lakshya) etc where maturity comes in the end of the term chosen by the policyholder.

For Example :

If Table no. 814 is taken in the name of Mr. Ram Kumar aged 30yrs for 21years for sum assured of Rs 10,00,000/- then his annual premium is 46069 (Excluding service tax) to be paid for total 21yrs that mean Mr. Ram end up paying Rs 9,61,449/- i.e. 46069X21=Rs 9,61,449

&

If Table no. 815 is taken in the name of Mr. Shyam Kumar aged 30yrs for 21years for sum assured of Rs 10,00,000/- then his annual premium is 53713 (Excluding service tax)  to be paid for total 21yrs that mean Mr. Shyam end up paying Rs 11,27,973/- i.e. 53713X21= Rs11,27,973

&

If Table no. 836 is taken in the name of Mr. Rahim Kumar aged 30yrs for 21years for sum assured of Rs 10,00,000/- then his annual premium is 53601 (Excluding service tax) and the client is to pay for a term of 15yrs because in Jeevan Labh for 21yrs term the premium payment term is just 15yrs so Mr. Rahim end up paying in Jeevan labh is just 8,04,015/-

so the premium payment is least in Jeevan Labh which makes LIC JEEVAN LABH as the favourite among endowment plans.

2. Payment is limited

There are many people who are looking for a plan where they can premium for a lesser number of years even if they agree to maturity at a later date as most of the people are working in pvt. sector where they are more chances of unemployment. so they want to end up their responsibility by paying premium as early as possible.

To know more click on the link below:

LIC JEEVAN LABH

(Table No. 836)

Jeevan Labh is limited payment Endowment & Guaranteed Plan launched by LIC on 04th Jan 2016. As per LIC terminology the table number of this plan is 836. After a long time LIC OF INDIA has launched such a wonderful Plan. If you will have a look at this Plan then you can stop yourself buying for this plan. This plan is available for all age groups from 8yr to 59yr so age.

Term in Jeevan Labh Plan

There are three fixed terms in this plan 16yrs, 21yrs & 25 yrs. The premium payments are 10yrs, 15yrs & 16yrs respectively.

For term of 16yrs the premium paying term is only 10years i.e 836-10-16

For term of 21yrs the premium paying term is only 15years i.e 836-15-21

For term of 25yrs the premium paying term is only 16years i.e. 836-16-25

Age Entry in Jeevan Labh

Min Age Entry : 8 years

Max Age Entry : For Term 16yrs -59yrs

: For Term 21yrs- 54yrs

: For Term 25yrs- 50yrs

Minimum Sum Assured : Rs 2,00,000

Maximum Sum Assured : There is no upper limit in the multiple of Rs 10,000

Modes: Yearly, Half-yearly, Quarterly & Mly (ECS)

Click the below pictures to know why you should buy this plan.

Buy Jeevan labh Plan