LIC Jeevan Labh (Plan No. 936, UIN: 512N304V02)
Jeevan Labh is a non-linked, with-profit endowment life insurance policy offered by the Life Insurance Corporation of India (LIC). This policy provides financial protection to the policyholder and their family in the event of their untimely death or upon maturity of the policy.
LIC Jeevan Labh is a limited premium endowment plan that combines the benefits of savings and protection. It is ideal for individuals who want to save for future goals like a child’s education, marriage, or a retirement corpus while ensuring life cover for their loved ones.
View official brochure (PDF)
UIN: 512N304V02 – LIC India Official Page
Plan Overview
- Plan Type: Limited Premium Endowment Plan
- Plan Number: 936
- UIN: 512N304V02
- Policy Term Options: 16, 21, or 25 years
- Premium Paying Term (PPT): Policy Term minus 5 years (i.e. 10, 15, or 16 years)
- Bonus: Yes (with-profit)
- Loan Facility: Available after 3 years
- Surrender Option: Yes (after 2 years)
- Rebate for High SA: Yes, for Sum Assured ₹5L and above
Eligibility Criteria
| Feature | Details |
|---|---|
| Minimum Entry Age | 8 years (completed) |
| Maximum Entry Age | 59 years (varies by term) |
| Maximum Maturity Age | 75 years |
| Minimum Sum Assured | ₹2,00,000 |
| Maximum Sum Assured | No Limit (in multiples of ₹10,000) |
| Premium Payment Mode | Yearly, Half-Yearly, Quarterly, Monthly (ECS/NACH) |
Key Benefits of LIC Jeevan Labh
- Limited Premium, Long Cover: Pay for only 10 to 16 years, but stay protected for up to 25 years.
- Maturity Benefit: Basic Sum Assured + Bonuses + Final Additional Bonus (FAB)
- Death Benefit: Sum Assured on Death + Bonuses + FAB
- Loan and Surrender Options: After 2–3 years of premium payment
- Tax Benefits: Under Sec 80C & 10(10D)
Detailed Benefit Tables
- Maturity illustrations
| Policy Term | Age | Sum Assured (₹) | Annual Premium (₹) | Bonus (Estimated) (₹) | FAB (₹) | Total Maturity (₹) |
|---|---|---|---|---|---|---|
| 25 Years | 30 | 5,00,000 | 20,933 | 4,25,000 | 25,000 | 9,50,000 |
| 25 Years | 35 | 5,00,000 | 21,764 | 4,25,000 | 25,000 | 9,50,000 |
- Death benefit scenarios
Assumes:
- Sum Assured = ₹10,00,000
- Term = 25 years
- Includes bonuses as per average LIC bonus trend (₹48 per ₹1000 SA/year) and Final Additional Bonus at maturity.
| Policy Year | Death Benefit Components | Estimated Death Benefit (₹) |
|---|---|---|
| Year 1 | Sum Assured + Min Bonus | ₹10,48,000 |
| Year 5 | SA + ₹2.4L Bonus | ₹12,40,000 |
| Year 10 | SA + ₹4.8L Bonus | ₹14,80,000 |
| Year 20 | SA + ₹9.6L Bonus | ₹19,60,000 |
| Year 25 (Maturity) | SA + ₹12L Bonus + FAB ₹4.5L | ₹26,50,000 |
- Bonus history
- Premium chart by age This is based on a Sum Assured of ₹10,00,000 (Basic SA), Policy Term: 25 Years, Premium Paying Term: 16 Years, Mode: Yearly, Male, Non-Smoker.
| Age | Yearly Premium (₹) | Half-Yearly (₹) | Quarterly (₹) | Monthly (₹) |
|---|---|---|---|---|
| 25 | 46,320 | 23,551 | 11,890 | 3,963 |
| 30 | 46,830 | 23,800 | 12,030 | 4,010 |
| 35 | 47,920 | 24,360 | 12,320 | 4,110 |
| 40 | 49,230 | 25,000 | 12,640 | 4,210 |
Optional Riders
Enhance protection with these add-ons:
| Rider | Description |
|---|---|
| Accidental Death & Disability Benefit Rider | Extra sum assured on accidental death or permanent disability |
| Term Assurance Rider | Additional life cover on death during the term |
| New Critical Illness Rider | Lump sum if diagnosed with covered illness |
Riders available at additional cost. Conditions apply.
Taxation Benefits
- Section 80C: Premiums paid are deductible (up to ₹1.5 lakh per annum)
- Section 10(10D): Maturity/death benefits are tax-free if premium ≤ 10% of Sum Assured
- GST applicable on premiums (not included in illustrations)
Illustration Example (Age: 30 | SA: ₹5,00,000 | Term: 25 yrs)
| Benefit | Value (₹) |
|---|---|
| Annual Premium | 20,933 |
| Total Premium Paid | 3,14,000 |
| Bonus (Estimated) | 4,25,000 |
| Final Addl. Bonus | 25,000 |
| Maturity Value | ₹9,50,000 |
| Returns | Approx. 6.5–7.2% IRR (non-guaranteed)* |
*Bonus rates are not guaranteed and vary based on LIC’s surplus declaration.
Check latest bonus rates here
Pros & Cons
| Pros | Cons |
|---|---|
| Trusted by millions, backed by Govt. of India | Returns not guaranteed (depends on bonuses) |
| Dual benefit: Protection + Savings | No liquidity in early years |
| Low risk, long-term wealth building | Lower returns than market-linked ULIPs |
| Tax-free maturity | Rider benefits cost extra |
| Legacy since 1956 | Not suitable for short-term goals |
Frequently Asked Questions (FAQs)
1. Is LIC Jeevan Labh a guaranteed return plan?
No, returns depend on LIC’s declared bonus and FAB, which vary yearly.
2. Can I take a loan against this policy?
Yes, loans are available after 3 years of premium payment.
3. What happens if I miss a premium?
LIC gives a grace period of 30 days (15 days for monthly). Policy may lapse if not revived.
4. Is Jeevan Labh better than PPF or Mutual Funds?
It’s ideal for conservative savers looking for a safe, tax-free maturity with life cover. Returns may be lower than equity products.
5. Can NRIs invest in LIC Jeevan Labh?
Yes, NRIs can invest if physically present in India at policy issuance (additional documentation needed).
जीवन लाभ एक गैर-लिंक्ड, वित्तीय लाभ से भरा एन्डोवमेंट जीवन बीमा नीति है जो भारत की जीवन बीमा निगम (LIC) द्वारा प्रदान की जाती है। इस नीति के तहत नीति धारक और उनके परिवार को उनकी असामयिक मृत्यु के मामले में या नीति की पूर्ति पर वित्तीय संरक्षण प्रदान किया जाता है।
इस नीति का उदाहरण देखते हैं: मान लीजिए कि एक 30 वर्षीय व्यक्ति ने एक जीवन लाभ नीति खरीदी है, जिसके अंतर्गत एक राशि निर्धारित की गई है, जैसे कि 5 लाख रुपये, और जिसकी नीति अवधि 20 वर्ष और प्रीमियम भुगतान अवधि 10 वर्ष है। वह 10 वर्षों तक लगभग 26,000 रुपये का वार्षिक प्रीमियम भुगतान करेगा, उसके बाद वह प्रीमियम भुगतान करना बंद कर देगा, लेकिन नीति शेष 10 वर्षों तक लागू रहेगी। नीति की अवधि के अंत में, व्यक्ति को परिपूर्णता लाभ मिलेगा, जिसमें LIC द्वारा घोषित बोनस के साथ निर्धारित राशि शामिल होगी।
Jeevan Labh vs Jeevan Umang
Jeevan Umang is a life long policy where in you pay premiums for only 15 years and get returns and life cover for whole life. Whereas Jeevan Labh is a limited period endowment plan where you have to deposit the premiums for 10 years and get back a lump sum return after 16 years. See Jeevan Umang details here.
Jeevan Labh vs Jeevan Anand
In a Jeevan Anand policy a lumpsum amount s paid at the time of policy end but the life cover continues for whole life. See Jeevan Anand details here.
Jeevan Labh vs Jeevan Lakshya
Jeevan Lakshya has triple benefit feature. A death claim, yearly payout and final maturity.
Jeevan Labh vs New Endowment
The main difference between the two plans is that for new endowment plan you have to pay the premium for the full term. Jeevan Labh comes with a premium holiday period.
Jeevan Labh vs Term Insurance
A term insurance will not give you any maturity value whereas a Jeevan Labh plan will give good returns on your investments.
Special Features of Jeevan Labh plan
The plan has all the regular features and benefits of a LIC endowment policy. In addition to those Jeevan Labh has
- Premium holiday i.e. you pay for lesser term and get benefits for a longer term.
- The policy can only be taken for three term options which are 16 years, 21 years or 25 years. The premium payment for these would be 10, 15 and 16 respectively.
LIC Jeevan Labh Example
Ravi aged 25 years takes a Jeevan Labh (936) with term as 10/16. He would save INR 9000 per month for 10 years and will be receiving 21,50,000 after 16 years. Throughout the 16 years term Ravi will get a insurance cover of 12,50,000 natural and 25,00,000 accidental life cover.
LIC Jeevan Labh Premium Calculator
FAQs
Question: what’s is the most important feature of the policy?
Answer: The policy has an in built premium Holiday of 4 years for all the terms. This means the policy will remain in force for an additional 6-9 years even after your premiums have stopped.
Question: What is the minimum and maximum term of the policy?
Answer: The policy can be taken for 16 years, 21 years and 25 years terms.
Question: Should I buy Jeevan Labh policy?
Answer: If you are looking for a policy for a long term and don’t want to keep paying the premium for a long term then this is the ideal policy for you.
Jeevan Labh Review by InsuringGurgaon
Our insurance advisers have reviewed the policy. Investors who are looking for a short term plan can opt for this. The general opinion about the policy review has been excellent. The plan is ideal for people who want to invest for shorter period ad looking for longer term insurance cover.
InsuringGurgaon.com is a leading LIC of India advisory firm based in Gurgaon. Our team of life insurance experts have an combined experience of over 40 years in life insurance services. Do get in touch with our insurance advisers to understand how Jeevan Labh can help you achieve your financial goals in a systematic manner.
Which LIC policy is best Jeevan Anand or Jeevan Labh?
Jeevan anand is a double benefit plan wherein you get a maturity at the end of the policy premium term and there is also another maturity at the time of the death of the policy holder whenever it happens. On the other hand Jeevan Labh is a simple endowment plan with premium holiday. A maturity is paid at the time of policy term end.
Should I invest in LIC pension plan or Jeevan Labh?
A pension plan is a life long returns plans, it is suitable for people who are looking at only small returns but for a longer duration. If you have a financial goal set in coming 16 to 25 years, then you need a Jeevan Labh.
In LIC Jeevan Labh what is the death benefit?
Yes, Jeevan Labh has a death benefit.
Can I take LIC Jeevan Labh 10 years plan?
Yes, you can take a 10 year plan. The premium payment would be for 10 years but the polivy will be in force for 16 years.
How much is the lic jeevan labh agent commission
25% and other benefits as per the agent’s business in the financial year.
Compare lic jeevan labh and jeevan lakshya
Jeevan labh is a limited premium plan and Lakshya is a triple benefit plan. See the complete comparison between Labh and Lakshya.
How is Jeevan Labh in comparison with New Endowment plan?
Jeevan labh is a limited period endowment plan wherein the term of the policy is longer than the premium paying term. The premiums of same term plan of Jeevan Labh would be a bit higher than the Endowment plan.
If you are looking to buy a LIC’s Jeevan Labh plan in Gurgaon get in touch with Neetu Jain, the best LIC agent for Jeevan Labh from LIC of India.
