LIC Jeevan Labh plan 936

LIC’s Jeevan Labh plan 936 is a limited premium paying, non-linked, with-profits endowment plan that offers a combination of protection and savings. This plan provides financial support for the family in case of the unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility.

Benefits of LIC Jeevan labh plan 936:

Death benefit:

In case of death during the policy term, provided all due premiums have been paid, Death benefit, defined as the sum of “Sum Assured on Death”, 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 annualised 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 all the premiums paid as on the date of death. 

Premiums as discussed above shall not include any taxes, extra amount chargeable under the policy due to underwriting decision, and rider premium(s), if any.

Maturity Benefit:

“Sum Assured on Maturity” equal to Basic Sum Assured, along with vested Simple
Reversionary bonuses and Final Additional bonus, if any, shall be payable in a lump sum on survival to the end of the policy term provided all due premiums have been paid.

Key Features of the LIC Jeevan Labh Plan 936:

• The best Higher Bonus Attracting Plan
• Limited years premium to be paid than Maturity year
• Recommended Plan for Planning for Your Child’s Education and Marriage
• Options to add accidental and disability benefit riders, critical illness, premium waiver riders, and term riders
• Paid premiums are exempted from income tax under 80C
• The death benefits, if any, maturity amount are tax-free under 10 (10D).

Buy Online LIC Jeevan Labh plan 936

Eligibility Conditions and Other Restrictions under  LIC Jeevan Labh plan 936  :

a) Minimum Basic Sum Assured: Rs. 2,00,000
b) Maximum Basic Sum Assured: No Limit
c) Policy Term/Premium Paying Term : (16/10), (21/15) & (25/16) years
d) Minimum Age at entry : [8] years (completed)
e) Maximum Age at entry :

• •  [59] years (nearest birthday) for Policy Term 16 years      
  •  [54] years (nearest birthday) for Policy Term 21 years &
  •  [50] years (nearest birthday) for Policy Term 25 years

f) Maximum Maturity Age : [75] years (nearest birthday)

Policy Benefits:

On Death :

• • • Basic Sum-Assured, OR 10 times of Annualized Premium, OR 105% of all Premiums paid as on death, WHICHEVER IS HIGHER.

On Survival :

• • • On survival Basic Sum-Assured + Reversionary Bonus+ Final Additional Bonus. Check on Maturity Calculator

Surrendered Value :

• • The Policy can be surrendered at any time during the policy term provided at least three full years of premiums have been paid.

Loan :

• • A Loan Facility is available under this plan, after payment of premiums, for at least 2 full years.

Income Tax Benefit :

• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).

LIC Jeevan Labh plan 936 is suitable for Child education, higher education, marriage, and setting up their business. This plan is also suitable for planning for a pension by getting a lump sum returns at the end.