LIC Jeevan labh

LIC Jeevan Labh

LIC Jeevan Labh is a limited premium paying, non-linked, with-profits endowment plan which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility.

Premium Payment Mode: Yearly, Half-yearly, Quarterly, Monthly(ECS)

lic-jevan-labh

Options under LIC Jeevan Labh plan are :

  • 936/16/10 – Pay for 10 years – Maturity on 17th year
  • 936/21/15 – Pay for 15 years – Maturity on 22nd year
  • 936/25/16 – Pay for 16 years – Maturity in 26th year

LIC Jeevan Labh plan features

  • Minimum Entry Age: 8 Year Completed
  • Maximum Entry Age: 59 Year (Nearest Birthday)
  • Maximum Maturity Age: 75 Year
  • Minimum Sum Assured: 2,00,000
  • Maximum Sum Assured: NO LIMIT (Depending upon Income)
  • Maximum Accidental Death and Disability Benefit Rider up to age 70.

LIC Jeevan Labh Policy Benefits :

On Death :

Basic Sum-Assured, OR 7 times of Annualized Premium, OR 105%of all Premiums paid as on death, WHICHEVER IS HIGHER.

On Survival :

On survival Basic Sum-Assured + Reversionary Bonus+ Final Additional Bonus.

Surrendered Value :

The Policy can be surrendered at any time during the policy term provided at least two full years of premiums have been paid.

Loan: Loan Facility is available under this plan, after payment of premiums for at least 2 full years.

Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).

LIC of India

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