LIC Jeevan Labh Plan 836 – Review, Maturity, Death Benefits

LIC Jeevan Labh Plan Table No. 836 is the new LIC policy launched in 4th January 2016. In fact this is the first LIC policy launched in 2016. LIC Jeevan Labh Plan 836 is a typical Limited Premium Paying, Non-Linked, with Profit Endowment Assurance plan with a clear intent of providing a mix benefits of savings as well as insurance. Like other LIC policies, you have to pay a limited period premiums, when you will get life cover for more years as per policy. In this article we will talk more about this LIC Jeevan Labh Plan key features, premium calculator, survival benefits, return calculation and many more.

LIC Jeevan Labh Plan 836 key Highlights

Let’s find out the key features of Lic New Jeevan Labh 836 policy and find out what are the survival benefits, maturity benefits, riders available, loan and other major highlights of Lic New Jeevan Labh policy.

  • As already said, LIC Jeevan Labh is a limited premium paying non-linked with profit endowment plan. You might compare this policy with other similar policies like Limited period Endowment plan.
  • On death, the nominee will receive Sum Assured+Bonus+FAB and On maturity the policyholder will receive Sum Assured+Bonus+FAB.
  • You can buy this policy with a term of 16 years, 21 years and 25 years. But the premium paying term will be less accordingly for 16 years is 10 years, for 21 years it is 15 years and for 25 years it is 16 years.
  • The premium paying option is available as yearly, half-yearly, quarterly or monthly basis.
  • Lic New Jeevan Labh Plan provides Optional Benefit, Accidental Death and Disability Benefit Rider by payment of additional premium.
  • You can avail loan with this policy.
  • Commission for agents-20% for 10 years of premium payment, 25% for 15 years or more premium payment.

Lic New Jeevan Labh Eligibility Conditions

LIC Jeevan Labh plan will be portrayed as one of the best income tax saving instrument in coming month as the FY 2015-16 is going to end in few month. You should know every detail carefully and also what is your investment goal properly before investing for the sake of tax saving. Like every policy the premium paid will be income tax exempted under section 80c.

Let check out the key Eligibility Conditions for basic plan

Entry Age:
  • Minimum: 8 years (completed).
  • Maximum:
    • 59 years (nearest birthday) for Policy Term 16 years.
    • 54 years (NBD) for Policy Term 21 years.
    • 50 years (NBD) for Policy Term 25 years.
Maximum Maturity Age:
  • 75 years (nearest birthday).
Policy term:
  • 16 years.
  • 21 years.
  • 25 years.
Premium Paying Term:
  • 10 years.
  • 15 years.
  • 16years.
Premium Payment Mode:
  • Yearly, Half-yearly, Quarterly or Monthly mode (through ECS only or through salary deductions).
Sum Assured:
  • Minimum: Rs.2,00,000/-.
  • Maximum: No limit.
  • Sum Assured shall be in multiples of Rs. 10,000/-.
Documents required for a new policy:
  • Application form/Proposal form along with a photo.
  • Address proof.
  • Age proof.
  • Medical reports (if required).

LIC Jeevan Labh Policy Agent Comission

If you are a LIC agent, then this policy is one of the best LIC policy launched ever in recent times. Because the commission structure is really healthy. You can easily make 20% for 10 years of premium payment, 25% for 15 years or more premium payment.

LIC Jeevan Labh Plan 836 Premium Calculator

If you are looking to calculate your premium amount for this New LIC Jeevan Labh policy, then you have to be ready with your data like mobile number, email id, amount want to invest and for how many year you want to invest.

Next follow the LIC premium calculator page and choose your policy in which you want to invest. Provide the data and get the premium amount of your policy. But remember that, the data may not be 100% correct. You should contact LIC officials to get 100% accurate data before buying any policy online. Refer to LIC of India official website for complete details about this Jeevan Labh Plan 836.

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