LIC JEEVAN LABH : Table No. 936
Limited premium | Non-Linked | With profits Endowment Plan | Guaranteed | Savings | Individual Life Insurance Plan
LIC has launched a very special plan LIC JEEVAN LABH. Basically LIC Jeevan Labh is an limited payment endowment plan which is cheapest in terms of total premium paid during the term and provides maximum returns at maturity. LIC Jeevan Labh provides maximum returns among all the endowment plans of LIC. This plan is very much popular among people who wanted to pay premium for shorter period of time and want returns after certain time.
| Policy Term | Premium Paying Term | Max. age at Entry |
| 16Years | 10Yrs | 59Yrs |
| 21Years | 15Yrs | 54Yrs |
| 25Years | 16Yrs | 50Yrs |
| Sum Assured | Min- 2 Lac | Max-No Limit |
2. Maturity: Basic Sum Assured + Vested Bonus + FAB if any Paid)
3. Death Benefit : Sum Assured on Death + Vested Bonus + FAB if any.
4. Riders:
(1)AB OR ADDB Rider
(2) Term Rider
(3) Critical illness Rider
5. Mode of Payment: Yearly, Half Yearly or Single Premium.
6. Revival: : Within 2 years of FUP
7. Service Tax:
1st Year of Policy : 4.5%
2nd Year onwards : 2.25%
8. Tax Benefits:
(1) On Basic Premiums: u/s 80C
(2) Maturity / Death claim : Tax Free u/s 10(10D)
9. Nomination: Multiple and successive nomination is possible
Multiple Nomination: More than one nominee is possible in this plan and their share in the death claim can also be specified.
Successive nominations: Sucessive nominations are possible in this plan. That is if something happens to first nominee then death claim will be given to the second nominee and if something happens to first and second nominee then the death claim will be payable to the third nominee.
10. Jeevan Labh Illustration :
*Bonus and FAB rates given under example are for illustration purpose only.
Client Specific Benefit illustration @4% & 8% gross investment return must be provided to Prospect.
11. Paid Up/ Surrender/Policy Loan: After payment of premium of 2 full years.
12. Check list of documents to buy LIC Jeevan Labh Plan
13. LIC Jeevan Labh Enquiry form:
LIC's Top selling Policies
