LIC’s New Plan Jeevan Labh (Plan no. 836)

LIC-Jeevan-Labh

LIC of India’s Jeevan Labh (Plan No. 836) is a limited premium paying, non-linked, with-profit endowment assurance Plan. Unique identification number (UIN) of Jeevan Labh plan is 512N304V01. This policy is available from a child of 8 years old to a person of age 59. The main feature of this plan is a very limited premium payment option, for the 16-year policy term customer have to pay the premium for 10 years and for 21 and 25 years of policy term policyholder have to pay the premium for 15 and 16 years respectively.

Eligibililty conditions of Jeevan Labh (Plan No. 836)

Benefits of Jeevan Labh Plan

Benefits payable under an inforce policy are:

Death Benefit

On the death of the life assured during the term of the policy, the Death Benefit defined as the sum of “Sum Assured on Death” and vested simple reversionary bonuses and Final Additional Bonus, if any, shall be payable.

Where “Sum Assured on Death” is defined as the higher of 10 times of annualized premium or absolute amount assured to be paid on death i.e. Basic Sum Assured.

This death benefit shall not be less than 105% of the total premiums paid as on date of death.

Premium mentioned above will not include any taxes, extra amount chargeable under the policy due to underwriting decision and rider premium if any

हिन्दी में पढें: एल आई सी की नयी योजना जीवन लाभ (तालिका क्र. 836)

Maturity Benefit in Jeevan Labh

On survival to the end of the policy term, “Sum Assured on Maturity” along with vested simple reversionary bonuses and Final Additional bonus, if any, shall be payable. Where Sum Assured on Maturity is equal to Basic Sum Assured (BSA)

Participation in Profits

This policy will participate in the profits of the Life Insurance Corporation of India and will be entitled to receive simple reversionary bonus declared as per the experience of LIC, provided the policy is in full force.

Final additional Bonus may also be declared under the policy which will be payable on the expiry of the policy term or death. The final additional bonus will not be payable on paid-up policies.

Optional Benefits

  1. LIC’s Accidental Death and Disability Rider UIN (512B209V01): If this benefit is opted for an additional amount equal to the Accidental Benefit Sum Assured is payable on death due to an accident, provided the rider is in full force at the time of the accident.
  2. LIC’s New Term Assurance Rider UIN (512B210V01): If policyholder opts for this rider then, an amount equal to Term Assurance Rider sum assured will be payable to on the death of the Life Assured during the policy term, provided the rider cover is in full force at the time of death.

Rebate in Jeevan Labh

Other conditions and policy feature of Jeevan Labh

  1. Policy will acquire paid up value if at least 3 full years’ premiums have been paid
  2. Jeevan Labh policy can be surrendered at any time during the policy term provided at least three full years’ premium have been paid
  3. Loan facility is available under this plan, after payment of premiums for at least 3 full years subject to conditions: Maximum loan for inforce policy-90% of surrender value and for paid up policies 80% of surrender value.
  4. Policy can be taken from backdate up to current financial year
  5. Nomination and assignment in this policy are available
  6. policy can be revived within the 2 years of First Unpaid Premium (FUP) by paying all the due premiums

45 Comments on "LIC’s New Plan Jeevan Labh (Plan no. 836)"

  1. New Jeevan Labh policy. Is my wife aged 59 years eligible?(dob 8 3 56).Policy term.4. states that policy can be taken from back date to current fin year. If so, can it be taken from Jan 2014 by paying two year premium when her age at entry would be 57. Pl inform. If 10L policy is taken what is the annual premium?

    • You cannot back date a policy into other financial year, you can date back Jeevan Labh upto 01/04/2015. You can take policy from 01/04/2015 premium would be 999316(95842+3474) for 16/10 term for age 59 NBD.

  2. Hi, my age is 32. I want to pay lic premium 50000 annually. I want death cover, accidental cover & disability cover. What is the best LIC plan for me. Also pls advise about LIC’s child plan. my child age is 3 years.

    • Get a Good term plan first, consider buying LIC’s eTerm plan online (trust of LIC and low premium), For your child go for Jeevan Tarun Plan, choose a the moneyback option (out of 4) as per requirement of child or your planning.

  3. rsubramanianlic@gmail.com' r.subramanian 01597757\d | January 4, 2016 at 12:24 pm | Reply

    good plan

  4. rsubramanianlic@gmail.com' r.subramanian 01597757\d | January 4, 2016 at 12:24 pm | Reply

    good

  5. SANTOSH.CHAKOR@ZYDUSCADILA.COM' SANTOSH CHAKOR | January 7, 2016 at 1:43 pm | Reply

    Please provide LIC’s New Plan Jeevan Labh (Plan no. 836)
    calculation

  6. I am a highly qualified and authorised Insurance agent of most trusted LIFE INSURANCE COMPANY (LIC) in India to serve all income group peoples in Mumbai-Thane area for several years.

    If you are unsure and want to know the best suitable and profitable LIC plan then please contact me on +91-9665310172 / +91-8087703317 or you can drop me an email with your requirements at rajeshp.licofindia@gmail.com.

  7. I want to buy a lic policy. my monthly income is Rs. 15000/-. Tell me the name of a policy to give maximum benefit.

  8. pareshbhalerao1@gmail.com' PARESH BHALERAO | January 18, 2016 at 12:20 am | Reply

    Sir..My son is 1.5 years old my age is 43 and my income is 50k monthly kindly suggests me weather I go for jeevan tarun or jeevan shikhar

  9. I am a highly qualified and authorised Insurance agent of most trusted LIFE INSURANCE COMPANY (LIC) in India to serve all income group peoples in Pune area for several years.

    If you are unsure and want to know the best suitable and profitable LIC plan then please contact me on +91-9503201043 / +91-7741077969 or you can drop me an email with your requirements at bimakarao@gmail.com

  10. Please inform in detail new beneficial lic scheme/policy launched including Jiban Labh

  11. I am not able to under stand jeevan labh policy. Please explain in simple words. My age is 25 year what should i pay annually.

    Thanks
    Mohit goel

    • Jeevan Labh policy is limit premium endowment plan, long term policy ie 16, 21 and 25 years of term and premium have to be paid for only 10, 15 and 16 years respectively. You must calculate how much insurance you require not how much you should pay. In Rs. 25000 you can get Risk cover of Rs. 10000000 in term plan or Rs. 400000-500000 in any endowment plan (premium may be different according to premium paying term). Choice is yours.

  12. I do not understand how much exactly i will get after the Full Term, As it is (BSA + vested simple reversionary bonuses + Final Additional Bonus). Can you tell me regarding the two bonus’s mentioned here. For Eg: Term 16, PPT 10, BSA 2Lack and Age 35. What could be the approximate Overall Bonus we may get?

    • Since its a newly launched product bonus rates of this plan are not available, let me explain “vested simple reversionary bonus” with a example of 814 plan, a endowment plan, quite similar to Jeevan Labh other than premium paying term.
      for 814/16/16, SA-200000, bonus for policy inforce as on 31/03/2015 is Rs. 42 per thousand sum assured (for term 16 to 20). So, total amount in policy added will be 42*(200000/1000)=8400 for this year (payable on maturity). Let us assume if this rate remains the same for all 16 years then the total bonus in the policy will be 42*(200000/1000)*16=134400 (16 is for policy term). FAB is added on maturity of policy only if declared, Suppose FAB declared by LIC after 16 years for 16 years term and SA >200000 is Rs. 25 per thousand sum assured then, total FAB added will be 25*(200000/1000)=5000 (added once only). Therefore total maturity will be like 200000(SA)+134400(vested simple Reversionary Bonus)+5000(FAB)

  13. My child physically handycapd.her age is 5years ok suggest in best lic childeren policy.

  14. Kindly suggest best return amount plan after 15,20 years

  15. I wish to take take a policy for Jeevan Labh 836 and please let me have the premium and returns (benefit upon maturing) through a mail … Age 15 – 10 years policy…maturity after 16 years….what are all the benefits

  16. HI I AM 31YRS MY ANNUAL INCOME IS 05LACS,I HAVE A TRIPLE ENDOWNMENT POLICY OF RS 600000 A CHILD PLAN JEEVAN ANKUR OF RS 670000. I HAVE TOTAL 03 CHILDREN PLEASE SUGGEST ME A PLAN AND ALSO LET ME KNOW BETWEEN JEEVAN ANAND,JEEVAN LABH,JEEVAN PRAGATI,NEW ENDOWNMENT PLAN 814 THE BEST PLAN FROM TESE IF THE SUM ASSURED IS RS 1200000.

  17. Meenu.6ten@gmail.com' Meenu Aggarwal jain | March 14, 2016 at 10:50 am | Reply

    I am a highly qualified and authorised Insurance agent of most trusted LIFE INSURANCE COMPANY (LIC) in India to serve all income group peoples in Delhi area for several year
    If you are unsure and want to know the best suitable and profitable LIC plan then please contact me on +91-9871045828 or you can drop me an email with your requirements at Meenu.6ten@gmail.com

  18. this is best policy in lic.this policy more benifit in lic.

  19. sir
    my age 28 year sum assurd 3 lakh .term 21 years .plz tell me the premium yearly

  20. sir
    my plan jeevan labh
    my age 28 year sum assurd 3 lakh .term 21 years .ppt 15.term 21.plz tell me the premium yearly

  21. singh.amodprasad@gmail.com' amod prasadsingh | April 22, 2016 at 5:17 pm | Reply

    sir
    i trust inlic.i have policy with lic
    i want to take lic policy that gives a good return and high risk covour
    i can pay premium yrly 50 k(50000 thou)yearly,pl advise me with full details
    my age is 47 years,policy required for 20 yrs

  22. singh.amodprasad@gmail.com' amod prasadsingh | April 22, 2016 at 5:20 pm | Reply

    i have a policy jeevan saraland i ampaying 3000 thousand per month from 2005/
    its is for 2
    15 yrs
    how much i can getat end of 2020

  23. dkshraddha@yahoo.co.in' KARANDE NIKHIL | July 11, 2016 at 8:55 pm | Reply

    I AM 23 YRS & EARNING OF RS, 19000/0 SALARY PM KINDLY SUGGEST ME THE SUITABLE LIC POLICY FOR 15 TO 20 YRS

  24. dkshraddha@yahoo.co.in' KARANDE NIKHIL | July 11, 2016 at 8:57 pm | Reply

    lic suitable policy

  25. dkshraddha@yahoo.co.in' KARANDE NIKHIL | July 11, 2016 at 8:59 pm | Reply

    pl. suggest me the suiatable LIC policy for me

  26. rameshdas2299@gmail.com' RAMESH CHANDRA DAS | July 12, 2016 at 5:36 pm | Reply

    Very nice plan for policy holder

  27. pramod.tiwari23@yahoo.com' Pramod Tiwari | July 14, 2016 at 11:30 pm | Reply

    सभी भारतीयों को अपनी सम्पत्ति/ इनकम/धन का कुछ हिस्सा LIC की जीवन अक्षय प्लान में क्यूँ इन्वेस्ट करना चाहिए?
    🍁🍁🍁🍁🍁🍁🍁🍁🍁

    👉क्योंकि ये विश्व का एकमात्र लाइफ टाइम गारंटीड सरकारी कम्पनी का पेंशन प्लान है जिसे भारत सरकार की गारन्टी प्राप्त है।

    👉1990 में RBI का इंटरेस्ट रेट 14% था LIC का 12%
    आज भी उन पॉलिसीस पर 12% दिया जा रहा है।

    👉1995 में RBI का इंटरेस्ट रेट 13% था LIC का 12%
    आज भी उन पॉलिसीस पर 12% दिया जा रहा है।

    👉2000 में RBI का इंटरेस्ट रेट 12% था LIC का 10%
    आज भी उन पॉलिसीस पर 10% दिया जा रहा है।

    👉2005 में RBI का इंटरेस्ट रेट 10% था LIC का 9%
    आज भी उन पॉलिसीस पर 9% दिया जा रहा है।

    👉2016 में RBI का इंटरेस्ट रेट 7% था LIC का 7.5% और लाइफ टाइम तक जारी रहेगा।

    👉जीवन अक्षय का आज का 7.5% का रेट सन् 2020 में हमे आकर्षक लगेगा जब RBI का रेट 5% या उससे भी कम होगा।

    🔹हाल ही में HDFC म्यूच्यूअल फण्ड के CEO प्रशांत जैन ने अपने प्रेजेंटेशन में बताया कि पेट्रोलियम आयत में सरकार की खूब हुयी बचत के कारण अगले 3 साल में 1 डॉलर =रु 50 होने की सम्भावना है इससे ब्याज दर 5-6% तक हो जायेगीं।

    🔹आईसीआईसीआई वेंचर कैपिटल के पूर्व MD ने 20 करोड़ रु अक्षय में लगाकर प्रतिमाह अपने लिए 13 लाख का इंतजाम किया है।
    यही असली पीस ऑफ़ माइंड है।

    👉आज ही शुरू करें
    👉अभी शुरू करें
    Regard
    Pramod Tiwari
    Lic of India ( units 310)
    86 janpath new Delhi-110001
    0931047871
    09650941946

  28. Pramod.Tiwari23@yahoo.com' Pramod Tiwari | July 16, 2016 at 6:39 pm | Reply

    Lic new jeevan pragati plan A comprehensive plan for Young People by LIC of India, where the risk cover will increase automatically up to 200% without any extra cost
    And tax Free amount after maturity
    Regard
    Pramod Tiwari
    Lic of India (units 310)
    86 Janpath new Delhi 110001
    09310467871
    09650941946

  29. ukoti.lic@gmail.com' U KOTI B.Tech,MBA(T.M) | July 18, 2016 at 2:56 pm | Reply

    GET TAX FREE MATURITY OF 26LAKHS+PENTION OF RS 2 LAKHS FOR LIFE TIME WITH FAMILY FUND OF 35 LAKHS JUST SAVE RS 251/- PER DAY ONLY

    further details please free to call me
    U koti
    9705149928

  30. nganapathirao804@gmail.com' GANAPATHI RAO NALI | July 19, 2016 at 11:42 pm | Reply

    I AM GANAPATHI RAO NALI, CHIEF LIFE INSURANCE ADVISER FROM LIFE INSURANCE CORPORATION OF INDIA (LIC OF INDIA) WITH 20 YEARS EXPERIENCE. PLEASE SEND YOUR REQUIREMENTS WITH YOUR YOUR DATE OF BIRTH, EMAIL AND PHONE NUMBER. I WILL GUIDE YOU A SUITABLE PLAN OR CONTACT 09490132317 FOR FULL DETAILS

  31. nganapathirao804@gmail.com' GANAPATHI RAO NALI | July 19, 2016 at 11:48 pm | Reply

    PLEASE FEEL FREE TO CONTACT MR. GANAPATHI RAO NALI PH. 09490132317 OR EMAIL nganapathirao804@gmail.com for BEST INSURANCE AND FINANCIAL ADVISE

  32. want a benefit of sum of one crore in 10 years !!is there any appropriate lic policy

  33. acajay.chakraborty42@gmail.com' AJAY KUMAR CHAKRABORTY | September 20, 2016 at 1:17 pm | Reply

    Lic new jeevanLabh plan A comprehensive plan for Young People by LIC of India, where the risk cover will increase automatically up to 200% without any extra cost
    And tax Free amount after maturity

  34. acajay.chakraborty42@gmail.com' AJAY KUMAR CHAKRABORTY | September 20, 2016 at 1:20 pm | Reply

    Lic new jeevan Labh plan A Lucrative and profitable plan for Young People by LIC , where the risk cover will increase automatically without any extra cost
    and tax Free amount after maturity and yield High return value.

  35. Sir
    My mom is 40yrs old .she is non salaried but working women.can she opted jivan lav & e-term plan.

  36. Am a defence personnel who has service of 6 years would like to join in jeevan labh of 3000 range monthly scheme.ryt now my age is 26.can u brief me the benefits of that?

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