Plan No. 936
- Jeevan Labh is a life assurance savings plan with limited payment option.
- This is ideal plan for those who want to pay the premium for a shorter period
- The risk coverage under this plan enhances every year as LIC declared the bonuses. However, the premium does not change
- The customer gets the tax-free maturity under this plan which includes the bonus also along with Sum Assured
- This plan has an option of choosing the Accidental Life cover, Disability Benefit & Critical illness cover
- In case of a minor, this plan also has the premium waiver benefit in case of death of the parent
- This plan also has the option of taking the Maturity proceeds in instalments as the policy-holder can choose the no of year as 5, 10 or 15.
- In a similar way, the policyholder also has the option of choosing the death benefit in instalments
- LIC also offer the discount in the premium in case the mode of payment is Yearly.
- The loan is also available to the policyholder after the completion of 2 years of the policy
- Settlement option avilable on Maturity and Death in Installments of 5,10 or 15 Years
How Does This Policy Work
Sample illustration
| Eligibility Criteria | |||
|---|---|---|---|
| Min. | Max. | ||
| Age | 8 Years (Completed) | 59 Years for Policy Term = 16 54 Years for Policy Term = 21 50 Years for Policy Term = 25 |
|
| Policy Term | 16 Years | 21 Years | 25 Years |
| Premium Payment Term | 10 Years | 15 Years | 16 Years |
| Basic Sum Assured | Rs.2 Lacs | No Limit | |
| Maximum Maturity Age | 75 Years (Nearer Birthday) | ||
| Rider | LIC’s NEW CRITICAL ILLNESS BENEFIT RIDER(CIR) | ||
| Rider | LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER | ||
| Rider | LlC's ACCIDENT BENEFIT RIDER | ||
| Rider | LIC’s PREMIUM WAIVER BENEFIT RIDER (PWB) - If life assured is Minor | ||
| Rider | LIC's NEW TERM ASSURANCE RIDER (TR) | ||
