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JEEVAN LABH VS ENDOWMENT PLAN
Posted by:V.K. sharma, January - 20 - 2016

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.

Buy LIC jeevan labh plan
Buy LIC jeevan labh plan

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:

Guaranteed adition in Jeevan Labh Total Premium is less in Jeevan Labh Tax benefits of Jeevan Labh

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Suggestions & feedback
  • md imran quraishiJanuary - 30 - 2016

    hiii sir
    my plan is endowent and my policy number is 518163688 i have 4 yrs paid a premium installment and i have surrender my plan …..that u any response please my questions….

     

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