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LIC Jeevan labh plan

Life Insurance plans

LIC Jeevan Labh plan

LIC Jeevan Labh plan is a limited premium, non-linked, with-profits endowment plan. LIC Jeevan labh is a combination of protection and savings. Jeevan Labh provides financial support for the family in case of 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.

Features of Jeevan Labh plan

  • Min Sum Assured: Rs. 200000/-
  • Max Sum Assured: No limit (depending upon income)
  • Min Entry Age: 8 years completed
  • Max Age: 59 years (nearest birthday)
  • Max maturity age: 75 year
  • Payment mode: Mly from Bank only (NACH), Quarterly, Half-yearly & Yearly
  • Policy Term:  16 years, 21 years, 25 years
  • Premium paying term: 10 yr for 16 year term, 15 yr for 21 year term, 16 yr for 25 year term
  • Surrender Value: Policy can be surrendered after 3 full years premium have been paid. The surrender value shall be a percentage of the total premiums paid.
  • Loan: Loan can be availed under the policy provided the policy has acquired a surrender value.
  • Income Tax Benefit: Premium paid under this plan is eligible for tax rebate under section 80C. Maturity or any claim under LIC Jeevan Labh is free under section 10(10D)

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Benefits of Jeevan Labh plan

On Survival at Maturity: Basic Sum Assured + Reversionary Bonus + Final Additional Bonus

On Death: Basic Sum Assured    Or   10 times of annualized premium  Or  105% of all premiums paid as on death

Why LIC Jeevan labh plan ?

This policy has three terms, choose the term which suits your needs and fulfills your responsiblity :

  1. Pay 10 years, maturity 17th year  beginning
  2. Pay 15 years, maturity 22nd  year beginning
  3. Pay for 16 years, maturity at 26th year beginning

LIC Jeevan Labh plan is a 100% Tax saving plan under section 80C and returns are also tax free under section 10(10D) of Income Tac Act.,

For more info in LIC Jeevan Labh plan,write to us.

 

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