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.
Key Features of LIC Jeevan Labh Plan
Higher Return due high bonus
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 are exempted from income tax under 80C
Maturity amount is tax free under 10 (10D)
Table No. 836 – Jeevan Labh Plan Parameters
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 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 After 3 years
Surrender After 3 years of full premium payment
Maturity Benefits:
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.
Death Benefits:
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.
Year Age Yearly Premium Normal Life Cover (Approx) Accidental Life Cover (Approx)
2016 29 56357 1302000 2302000
2017 30 55370 1354000 2354000
2018 31 55370 1406000 2406000
2019 32 55370 1458000 2458000
2020 33 55370 1510000 2510000
2021 34 55370 1562000 2562000
2022 35 55370 1614000 2614000
2023 36 55370 1666000 2666000
2024 37 55370 1718000 2718000
2025 38 55370 1770000 2770000
2026 39 55370 1822000 2822000
2027 40 55370 1874000 2874000
2028 41 55370 1926000 2926000
2029 42 55370 1978000 2978000
2030 43 55370 1810000 2810000
2031 44 55370 1867000 2867000
2032 45 0 1929000 2929000
2033 46 0 1991000 2991000
2034 47 0 2078000 3078000
2035 48 0 2185000 3185000
2036 49 0 2267000 3267000
2037 50 0 2394000 3394000
2038 51 0 2496000 3496000
2039 52 0 2598000 3598000
2040 53 0 2750000 3750000
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.
Premium Calculator of Jeevan Labh LIC Plan 2016 which is under TAble no. 836
Here we share with you LIC Jeevan Labh Plan 836 Premium and Maturity Calculator.
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)
Surrender Value
You can Close / Surrendered this plan at any time 3 Full years premium necessary for full payment.
Suicide Clause
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.
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.Key Features of LIC Jeevan Labh Plan
Higher Return due high bonus
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 are exempted from income tax under 80C
Maturity amount is tax free under 10 (10D)
Table No. 836 – Jeevan Labh Plan Parameters
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 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 After 3 years
Surrender After 3 years of full premium payment
Maturity Benefits:
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.
Death Benefits:
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).
Year Age Yearly Premium Normal Life Cover (Approx) Accidental Life Cover (Approx)
2016 29 56357 1302000 2302000
2017 30 55370 1354000 2354000
2018 31 55370 1406000 2406000
2019 32 55370 1458000 2458000
2020 33 55370 1510000 2510000
2021 34 55370 1562000 2562000
2022 35 55370 1614000 2614000
2023 36 55370 1666000 2666000
2024 37 55370 1718000 2718000
2025 38 55370 1770000 2770000
2026 39 55370 1822000 2822000
2027 40 55370 1874000 2874000
2028 41 55370 1926000 2926000
2029 42 55370 1978000 2978000
2030 43 55370 1810000 2810000
2031 44 55370 1867000 2867000
2032 45 0 1929000 2929000
2033 46 0 1991000 2991000
2034 47 0 2078000 3078000
2035 48 0 2185000 3185000
2036 49 0 2267000 3267000
2037 50 0 2394000 3394000
2038 51 0 2496000 3496000
2039 52 0 2598000 3598000
2040 53 0 2750000 3750000
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.
Premium Calculator of Jeevan Labh LIC Plan 2016 which is under TAble no. 836
Here we share with you LIC Jeevan Labh Plan 836 Premium and Maturity Calculator.
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)
Surrender Value
You can Close / Surrendered this plan at any time 3 Full years premium necessary for full payment.
Suicide Clause
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.
Thank for providing LIC Jeevan Labh policy review
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