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LIC Popular Plans

Jeevan Labh Plan

LIC Jeevan Labh is a non-linked ( Not dependent on share market) limited premium paying endowment assurance plan which means premium paying term is less than policy term for example, if policy term 25 has been selected then premium will be paid for 16 years only and maturity will be paid after completion of 25 years.

Key Features of LIC Jeevan Labh Plan:

  • High Bonus Attracting Plan
  • 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/Death claim amount is tax free under 10 (10D)

Maturity Benefit :

On completion of policy term, Sum Assured + Bonus + Final Addition Bonus will be paid as maturity.

Death Benefit :

In case of death during policy term of the plan, Bonus up to year of death & FAB along with Sum Assured will be paid as Death claim to Policy holder’s nominee

Eligibility Criteria & Conditions 
Minimum Age8 years(Completed)
Maximum Age59 years for 16 years policy term
54 years for 21 years policy term
50 years for 25 years policy term
Policy Term16 years / 21 years / 25 years
Premium paying term10 years for policy term 16 years
21 years for policy term 15 years
25 years for policy term 16 years
Minimum Sum AssuredRs.2,00,000
Maximum Sum AssuredNo limit
Premium payment modeYearly / Half yearly / Quarterly / Monthly (Thru bank)
LoanEligible after 3 years
SurrenderEligible after 3 years
On DeathSum Assured + Bonus
On MaturitySum Assured + Bonus
Income Tax Benefits(i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount / Death claim is Non taxable u/s 10(10d)

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