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Home » Lic Endowment plans » LIC Jeevan Labh Plan 836 | Review, Maturity, Death Benefits

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

March 31, 2017 By onlinelic

LIC Jeevan Labh Plan is a new insurance policy from LIC which is a mixture of Investment and Insurance. The payment of premiums for this LIC’s Jeevan Labh Plan is limited to a term shorter than the policy. Hence it is termed as Limited Premium Endowment Plan. So, Let’s have a look at the following sections of this page to know more about LIC Policy Jeevan Labh.

Contents

  • 1 Jeevan Labh LIC Plan No 836 Review
    • 1.1 LIC Jeevan Labh Plan Eligibility Conditions
    • 1.2 LIC’s Jeevan Labh Endowment Plan 836 Benefits
      • 1.2.1 Maturity Benefits
      • 1.2.2 Death Benefits
    • 1.3 LIC Jeevan Labh Policy Rebates
    • 1.4 Jeevan Labh LIC Policy Buying Procedure
    • 1.5 Claim Procedure of LIC New Jeevan Labh Plan
    • 1.6 LIC’s Jeevan Labh Plan Premium Calculator
      • 1.6.1 LIC Jeevan Labh Maturity Calculator
    • 1.7 Additional Information of Jeevan Labh LIC Plan 836
      • 1.7.1 LIC Policy Jeevan Labh Riders

Jeevan Labh LIC Plan No 836 Review

The LIC Jeevan Labh Plan 836 is a new Endowment Plan introduced by Life Insurance Corporation of India on 1st January 2016. This Jeevan Labh LIC Plan will start working from 4th January 2016. A Unique Identification Number is given for LIC’s Jeevan Labh Plan that is 512N304V01. The policyholder has to quote the UIN no. in all relevant documents that are required to buy the policy.

Jeevan Labh LIC Policy is a Limited Premium Paying, Non-Linked, with Profit Endowment Assurance plan. The benefits payable to the Insured are sum assured plus vested Simple Reversionary Bonuses and Final Additional bonus. LIC’s New Endowment plan 836 is a non-linked participating Insurance Plan. The LIC New Jeevan Labh Plan provides Optional Benefit, Accidental Death and Disability Benefit Rider by payment of additional premium. LIC Jeevan Labh Plan 836 also takes care of Liquidity needs through its loan facility. This plan offers a combination of protection and saving features.

Usually, the corporation releases a lot of plans every year. So, it has launched a similar plan last year under the name LIC Limited Payment Endowment Plan (Table no. 830). The Insured can use Jeevan Labh LIC Calculator to calculate Premiums and Benefits. Hence, we are providing Jeevan Labh LIC Plan Maturity Calculator and Premium Calculator for calculating the Maturity benefits and Death benefits of the plan. Refer LIC Jeevan Labh premium chart and LIC Jeevan Labh Calculator before buying this plan. For more details about this Jeevan Labh LIC Plan, refer the official website, i.e., www.licindia.in

LIC Jeevan Labh Plan 836

LIC Jeevan Labh Plan Eligibility Conditions

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’s Jeevan Labh Endowment Plan 836 Benefits

Maturity Benefits

On survival of the Life Assured to the end of policy term,

Maturity benefit (Benefits payable on maturity) = Basic Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.

Death Benefits

On death of the Life Assured during the policy term,

Death benefit (Benefits payable on death) = ‘Sum Assured on Death’ + vested Simple Reversionary Bonuses + Final Additional Bonus if any.

  • ‘Sum Assured on Death’ is higher of basic sum assured or 10 times of annualized premium.
  • Death benefit shall not be less than 105% of total premiums paid as on date of death.
  • The premiums mentioned above exclude taxes, extra charges, and Rider Premiums if any.

LIC Jeevan Labh Policy Rebates

The Life Insurance Corporation has provided two rebates for this basic LIC Jeevan Labh Plan. They are

  1. Mode Rebate
  2. Sum Assured Rebate

Mode Rebate:

Mode

Percentage

Yearly mode 2% of tabular premium
Half-yearly mode 1% of tabular premium
Quarterly and monthly mode NIL.

High Basic Sum Assured Rebate:

Basic Sum assured

Rebate as per Rs.1000 B.S.A 

Rs. 2,00,000/- to Rs. 4,90,000/- NIL.
Rs. 5,00,000/- to Rs. 9,90,000/- 1.25 % Basic Sum Assured.
Rs. 10,00,000/- to Rs. 14,90,000/- 1.50 % Basic Sum Assured.
Rs. 15,00,000/- and above 1.75 % Basic Sum Assured.

Jeevan Labh LIC Policy Buying Procedure

The documents required for buying LIC Jeevan Labh Policy are

  • Application form/ Proposal form No. 300, 340 and 360 along with a photo.
  • Address proof.
  • Age proof.
  • Medical reports(if required).

Claim Procedure of LIC New Jeevan Labh Plan

The documents required for claim procedure under LIC Jeevan Labh 836 Policy are given below.

  • Original Policy Document
  • NEFT Mandate Form.
  • Proof of Title.
  • Death Certificate.
  • Accident/ Disability Proof (as mentioned in the rider circular).
  • School/ College/ employer’s certificate.
  • If age is not admitted under the policy, the proof of age of the Life Assured shall also be submitted.

LIC’s Jeevan Labh Plan Premium Calculator

Here we are providing the required data for calculating the premium rates in LIC Jeevan Labh Policy using LIC Jeevan Labh 836 premium and maturity calculator. To calculate Premium Online, the Insured have to enter the following details mentioned below.

  • Name.
  • Email Id.
  • Mobile.
  • Age.
  • Term.
  • Sum Assured.

After entering all the above details, you can easily calculate the premium for LIC Jeevan Labh Plan 836.

LIC Jeevan Labh Maturity Calculator

LIC Jeevan Labh 836 Plan Maturity Calculator helps you to calculate the maturity value or maturity amount. Maturity amount is the amount that is payable to the policyholder during the maturity time. You can calculate the Maturity benefits using Jeevan Labh LIC Plan Maturity calculator. Maturity amount is calculated based on previous year Bonus Rates. LIC Jeevan Labh Maturity Calculator provides maturity amount based on Policy term, Age of the LIC Policyholder, Sum Assured, Policy name, etc. You need to provide these details along with the Mobile number, Name, Email ID to calculate the maturity value. But you will receive approximate or nearby maturity amount in this LIC Jeevan Labh Calculator.

Additional Information of Jeevan Labh LIC Plan 836

Loan facility

Loan facility is available under this plan, after payment of premiums for at least 3 full years subject to the policy conditions.

Grace period for payment of premium

Under LIC Jeevan Labh plan 836, the grace period of one month but not less than 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for a monthly mode.

Participation in Profit 

New LIC Jeevan Labh policy intended to participate in profits of the Corporation and entitled to receive Simple Reversionary Bonuses.

Paid-up Value

Paid-up Value = Basic Sum assured x (No. of premiums paid/ Total no. of premiums payable)

Example:

Suppose, if you have taken the policy of 2,00,000 basic sum assured and Total no. of premiums payable is 20, and if after 5 full years premium have been paid and any subsequent premiums be not duly paid, then

Paid-up value = 2,00,000 x (5/20) = 50,000.

Surrender Value

The policyholder can surrender the LIC Jeevan Labh 836 policy at any time during the policy term, provide at least three full years premiums have paid.

Revival

If premiums are not paid within the grace period, then the policy will lapse. A lapsed policy may be revived during the lifetime of the life assured, but within a period of 2 consecutive years from the date of first unpaid premium and before the maturity date.

Suicide clause

If the life assured commits suicide before 12 months from the date of commencement of risk, the corporation will return 80% of premiums paid to the insured excluding any taxes and extra premium, if any.

Taxes

Taxes, if any, shall be as per the Tax laws and the rate of tax as applicable from time to time.

LIC Policy Jeevan Labh Riders

Riders are available under this LIC Jeevan Labh Plan. Availability of Accidental Death and Disability Benefit Rider and New Term Assurance Rider.

  • LIC’s Accidental Death and Disability Benefit Rider UIN (512B209V01): LIC Accidental Death and Disability Benefit Rider (AD&DB) is accessible as an optional rider.
  • LIC’s New Term Assurance Rider UIN (512B210V01): LIC New Term Assurance Rider is available at the policy on payment of additional premium.

Along with this, you can also find other LIC Insurance Plans from our site such as LIC Term Plans, Money Back Plans, Pension Plans, etc.

Filed Under: Lic Endowment plans Tagged With: www licindia in

Comments

  1. N JAGAN says

    January 3, 2016 at 6:24 am

    pl send the premium calculation for age 31 (DOB: 28.12.1984 ) – mobile no. 9444428548

    Reply
  2. nirbhay says

    January 3, 2016 at 6:31 am

    Plz calculate the premium, maturity and risk cover for given detal-

    Age-25
    Term-25
    SA-200000

    Reply
  3. bharat dabhi says

    January 3, 2016 at 5:30 pm

    Good plan

    Reply
  4. Shanthini KM says

    January 4, 2016 at 2:30 am

    Please provide Premium / Maturity Calculation Table – ‘am LIC – CLIA – My code is 4156773

    Reply
  5. Archit garg says

    January 4, 2016 at 2:54 am

    Nice information. For all agents plz if possible aware me time to time about all lic norms n to generate good business. 9528051007

    Reply
  6. CHAIYABBA says

    January 4, 2016 at 5:01 am

    jeevan labh 836

    age is 59 years 11 months 01-02-1956

    sum assured 2000000

    16 years

    kindly let me know whether i am eligible?

    mobile 9448853651

    Reply
  7. MANJUNATH says

    January 4, 2016 at 6:27 am

    Sir, kindly let me know how much premium payable for taking JEEVAN LABH POLICY . My date of birth is 11th February 1966 and required sum assured is Rs.10 Lakhs . Coverage till my age of 75 years required by me.

    Reply
  8. MANJUNATH says

    January 4, 2016 at 6:28 am

    please let me know premium for Jeevan labh MY DATE OF BIRTH IS 11TH FEBRUARY 1966 AND SUM ASSURED IS Rs.10 lakhs

    Reply
  9. ashok jha says

    January 4, 2016 at 4:41 pm

    My Dob 05.01.1981, Sum Assured Rs. 2 Lac for 16 year tenure. Kindly send premium Amount

    Reply
  10. Meera says

    January 4, 2016 at 5:57 pm

    Preamium calculator for jeevan labh

    Reply
  11. mak says

    January 5, 2016 at 6:57 am

    minige is Sum Assured

    Reply
  12. nitesh says

    January 6, 2016 at 1:36 am

    need to know premium for sa- 3l, age- 21 yrs for 16/21 term

    Reply
  13. Nirav Kanakhara says

    January 7, 2016 at 8:15 am

    My Name is Nirav Kanakhara
    Age – 30

    so how much premium paid yearly & how much amount received on maturity

    Reply
  14. Shailendra says

    January 7, 2016 at 11:37 am

    Detail about of jeevan labh yojana under 400000 premium

    Reply
  15. Susovan pattanayaK says

    January 8, 2016 at 12:40 pm

    lic pre calcu

    Reply
  16. D.R.Zawar says

    January 9, 2016 at 11:54 am

    What will yearly premium to 59 year age person for 16 year duration. S.A. equal to 3 (Three lacs)

    Reply
  17. Akshya Kumar mallik says

    January 11, 2016 at 3:58 pm

    what is the 16-10 term benefit

    Reply
  18. Manoj Sharma says

    January 14, 2016 at 1:57 am

    Manoj Sharma
    Clear your doubt / query about Lic plan and policy….in GURGAON and Delhi……NCR…. 
    भारतीय जीवन बीमा निगम.
    Manoj Sharma
    mnjshrm638@gmail.com
    9911335083.

    Reply
  19. krishna says

    January 23, 2016 at 6:13 am

    Hi Sir,
    My age is 37, I am planning to take jeevan Labh plan 836 for 8,50,000/- yearly I have to pay nearly 74,000/- upto to 10 years, and the policy will get maturity after 16 year. please suggest me it is good or not for me. My annual income is 4.2 lakh.

    Reply
  20. Madhusudan says

    January 27, 2016 at 4:47 am

    Very good LIC Jeevan Labh 836 policy.

    Reply
  21. Nitin says

    January 27, 2016 at 8:55 am

    Hi,
    I want to take this policy for my mother. Her age is 52. I want sum assured 2,00,000. What would be the premium?

    Reply
  22. khushal chand soni says

    February 9, 2016 at 9:58 am

    what is the bonus rates in jeevan labh is this plan like jeevan shree ( 112 )

    Reply
  23. dhirendra.dubey says

    February 10, 2016 at 1:48 am

    23 years dhirendra

    Reply
  24. Jagdish Ghurka says

    March 10, 2016 at 11:50 am

    Hello

    My age is 46 years & i want to take JEEVAN LABH policy for Rs2500000/ for 21 years.
    I wanted to know what is the premium P A. & what is the reabet i will get on High Basic Sum Assured for making Premium amount.

    Thanks

    Reply
  25. Mousumi Sarkar says

    March 13, 2016 at 1:14 pm

    I am 50 years of housewife. Interested in jeevan lubh policy.plan to pay a premium of one lakh per annum for 10 years and after 10 years deposit the amount into jeevan aksay pension plan.
    Please advice..is it a best policy ? My email Id :
    capt.goutam.sarkar@gmail.com

    Reply
  26. N.SIVABALAN says

    March 22, 2016 at 1:59 am

    Sir, I have opened a LIC Jeevan Labh Plan with sum assured of Rs.300000 for 25/16 years at the age of 45. please confirm what is the maturity amount.

    Reply
  27. SAIBAL GHOSH says

    June 16, 2016 at 12:58 pm

    IF YOU WANT TO INVEST IN LIC THEN PLEASE CALL ME IN 9874363662

    Reply
  28. SAIBAL GHOSH says

    June 16, 2016 at 1:00 pm

    YOU CAN CONTACT ME FOR NEW BUSINESS OR ANY SERVICING NEEDED IN LIC. I AM IN KOLKATA AND MY MOBILE NO IS 9874363662 .

    Reply

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