FREE LIC Jeevan Labh Plan 936 Calculator
Detailed overview of the LIC Jeevan Labh 936 Plan:
| Feature | Details |
|---|---|
| Plan Type | Endowment Assurance Plan |
| Plan Number | 936 |
| UIN Number | 512N304V02 |
| Premium Payment Term | Limited (2 years) |
| Sum Assured | Higher of Basic Sum Assured or 7 times annualized premium |
| Riders Available | Accident Benefit Rider, Term Assurance Rider, Critical Illness Rider, Premium Waiver Benefit Rider |
| Maturity Benefits | Sum Assured + Vested Bonus + Final Addition Bonus (if any) |
| Loan Facility | Available after 2 years of premium payment |
| Grace Period | 30 days for yearly, half-yearly, and quarterly premium paying modes |
| Revival Period | 5 years |
| Surrender Value | Available after 2 years of premium payment |
| Death Benefit | Higher of Basic Sum Assured or 7 times annualized premium |
| Settlement Options | Lump sum, or in installments (5, 10, or 15 years) |
| Eligibility | Indian residents aged 18-65 years |
| Premium Payment Modes | Yearly, half-yearly, quarterly, monthly |
Key Points to Remember:
- High Maturity Returns: The plan offers high maturity returns compared to the sum assured.
- Optional Riders: You can opt for additional riders like Accident and Disability Benefit, Additional Term Insurance, Critical Illness Rider, etc.
- Loan Facility: Loans can be availed after 2 years of premium payment, up to 90% of the surrender value.
- Revival Period: The policy can be revived within 5 years if the premium payment is missed.
The LIC Jeevan Labh 936 Plan is a simple endowment plan where you pay premiums for a limited period, and at the end of the policy term, you receive maturity. Here are the premium rates for different payment frequencies:
| Payment Frequency | Annual Premium (INR) |
|---|---|
| Yearly | 9,290 |
| Quarterly | 2,322.50 |
| Half-Yearly | 4,645 |
| Monthly | 779.17 |
FAQs:
1. What is the maturity benefit?
The maturity benefit includes the sum assured plus any bonuses accrued during the policy term.
2. What is the death benefit?
In case of the policyholder’s death, the nominee receives the sum assured plus any bonuses accrued.
3. Are there any tax benefits?
Yes, premiums paid towards this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961.
4. Can I surrender the policy before maturity?
Yes, you can surrender the policy, but it may result in a reduced payout.