LIC Jeevan Labh Plan 936 Brochure - Description
Being a leading insurance provider in India, LIC policies are a popular choice for customers when it comes to buying insurance cover. With the very wide range of policies offered by LIC, LIC Jeevan Labh is one of the most sought after by LIC of India. Selling endowment insurance plan LIC Jeevan Labh comes with many benefits for those buying insurance. To know in detail about Jeevan Labh’s policy, let’s read about it.
If the Life Insured survives the entire policy term and has paid the full premium of the policy and the policy is in force, Maturity Benefit will be given to the insured along with Vested Simple Reversionary Bonus and Final Additional Bonus, if any. Sum Assured payable on Maturity is equal to the Basic Sum Assured of the policy.
LIC Jeevan Labh Plan 936 Brochure-Features
- This plan offers a limited premium payment option
- This plan is available on policy terms of 16, 21, and 25 years which makes it easy for investors to invest by keeping a specific goal in mind
- This non-linked, for-profit plan ensures both assured returns along comprehensive protection to investors in the form of death and maturity benefits
- Policyholders can avail loan facility on this plan after paying a regular premium for three years
- Tax benefits can be availed under Rule 80C and 10(10D) of the Income Tax Act, 1961
- This plan gives the option to get the death benefit in installments
Tax Benefit of Jeevan Labh Plan
The policyholder can avail of tax benefits under the policy. The maximum limit for premium payment for a policy in a financial year is Rs 1.5 lakh and the maturity proceeds are exempt from tax under sections 80C and 10(10D) of the Income Tax Act.
LIC Jeevan Labh Plan Eligibility Criteria
|
Criteria |
Minimum |
Maximum |
|
Entry Age |
8 years |
59 years for PT16 54 years for PT 21 50 years for PT 25 |
|
Sum Assured |
Rs.2,00,000 |
No Upper Limit |
|
Maturity Age |
N/A /Not Applicable |
75 years |
|
Policy Term |
16, 21, and 25 years |
|
|
Premium Payment Term |
10, 15 & 16 Years |
|
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