Life Insurance Corporation of India (LIC) recently announced new endowment plan on 4th january which is called name as Jeevan Labh LIC Plan under the Table no. 836. A Unique Identification Number which is given by the LIC Jeevan Labh Plan and that is 512N304V01. OWho required to buy the policy of Jeevan Labh have to quote policy holder relevant documents and UIN No.
LIC Jeevan Labh Plan who is non Linked (Not Dependent on Share Market) limited Premium Paying Endowment Plan So for this Table no. 836 Policy holder pay term in less than policy term For Example If policy term 16 has selected then Policyholder have to paid only 10 years time premium and maturity amount will be paid after the 16 Years of Completion. This Jeevan Labh Policy is same liek jeevan shree which is currently close on sale and it is one of the highest bonus attracting plan of LIC in history. So all the policy holder may try this Jeevan Labh Policy.
Also see Other LIC Plan : Jeevan Shikhar | Jeevan Pragati | New Jeevan Anand | LIC Money Back Policy
Key Features of LIC Jeevan Labh Plan
- Higher Return due high bonus
- under this policy Premiums need to be paid for less number of years than Maturity year
- Ideal Plan for planning Child’s Education and Marriage
- Options to avail accidental benefit and term riders
- Paid premiums on this policy are exempted from income tax under 80C
- Maturity amount of jeevan labh is tax free under 10 (10D)
|Minimum Age at Entry||8 Years (Completed)|
|Maximum Age at Entry||59 Years for 16 Year Term|
|54 Years for 21 Year Term|
|50 Years for 25 Year Term|
|Premium Paying Mode||Yearly, Half Yearly, Quarterly, Monthly (ECS Only)
Calculate Your Premium
|Policy Term (Premium Payment Term)||16(10), 21(15), 25(16)|
|Basic Sum Assured amount||2,00,000 and above (in multiple of 10,000)|
|Premium Payment Mode rebate||2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly|
|Rebate on High Sum Assured
(Per 1000 of Sum Assured)
|0% up to 4,90,000|
|1.25% for 5,00,000 to 9,90,000|
|1.50% for 10,00,000 to 14,90,000|
|1.75% for 15,00,000 and above|
|Loan Facility||After 3 years|
|Surrender info||After 3 years of full premium payment|
On survival of the Life Assured after the completion of policy term at maturity,
Maturity benefit (Benefits payable on maturity) = Basic Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.
In case Policy holder death during the policy term then Death Benefit : ‘Sum Assured on Death’ + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.
Ho to Buy Jeevan Labh LIC Policy ? Which Procedure have to do to Bought Jeevan Labh Plan ?
If you want to buy LIC Jeevan Labh Policy then below is the require document for that.
- Application form/ Proposal form No. 300, 340 and 360 along with a photo.
- Address proof.
- Age proof.
- Medical reports(if required).
Death Claim Details
|Year||Age||Normal Life Cover (Approx)||Accidental Life Cover (Approx)|
How to Claim LIC New Plan of Jeevan Labh – Closing Procedure
Below are the necessary Document to claim Procedure for LIC Jeevan Labh Table no. 836.
- Original Policy Document
- NEFT Mandate Form.
- Proof of Title.
- Death Certificate.
- Accident/ Disability Proof (as mentioned in the rider circular).
- School/ College/ employer’s certificate.
- If age is not admitted under the policy, the proof of age of the Life Assured shall also be submitted.
Here we share with you LIC Jeevan Labh Plan 836 Premium and Maturity Calculator. To calculate Premium of Jeevan Labh online kindly enter the following details on the below box.
- Email Id.
- Sum Assured
After submit all the above information you can easily calculate the LIC Jeevan Labh Plan Premium amount. .
Also see : Jeevan Shikhar Table No. 837 LIC New Plan
More information for this Jeevan Labh Table no. 836 Plan
Can This Policy Provide the Loan Facility ?
Yes, Jeevan Labh Plan provide the Loan facility If you paid payment of premiums for at least 3 full years subject to the policy conditions.
Grace Period for Premium Payment in Jeevan Labh ?
Under the LIC Jeevan Labh Table no. 836 Plan grace period is given one month for a yearly payment of premium.
Participation in Profit ?
Yes This Plan of Jeevan Labh is participate in Profits of Corporation so receive simple reversionary bonuses.
Paid up Value
Paid-up Value = Basic Sum assured x (No. of premiums paid/ Total no. of premiums payable)
You can Close / Surrendered this plan at any time 3 Full years premium necessary for full payment.
If policy holder suicide before 12 month from the commencement of risk date then he/she will be return 80% amount of premiums paid and its are excluding taxes.