Jeevan Labh Plan (Plan No. 836) – LIC Advisor in Hyderabad
LIC’s Jeevan Labh Plan (836) is a limited premium paying, non-linked, with-profits Endowment Assurance plan.
• Minimum Basic Sum Assured: Rs. 2,00,000/-
• Maximum Basic Sum Assured: No Limit
• Minimum Policy Term: 16 Year OR 21 Year OR 25 Year
• Premium Paying Term : [Term 16 Years PPT 10 years], [Term 21 Years PPT 15 Years], [Term 25 Years PPT 16 years]
• Minimum Entry Age: 8 years (completed)
• Maximum Entry Age: 59 years (nearer birthday)
• Mode of Premium Payment: Yearly, half-yearly, quarterly and monthly
• Maximum Age at Maturity for Life Assured: 75 years
• Accidental Death & Disability Benefit Rider is available on payment of additional premium.
LIC’s Jeevan Labh Benefits:
• On Death: “Sum Assured + Vested Bonus + FAB if any.”
• Where ‘S.A. on Death’ is defined as the higher of
i. 10 times of Annualised Premium, OR
ii. 105%of all Premiums paid on death
• On Survival: On survival Basic Sum Assured + Vested Bonus + FAB if any.
• Surrendered Value: The Policy can be surrendered at any time during the policy term provided at least 3 full years premiums have been paid.
• Loan: Loan Facility is available under this plan, after payment of premiums for at least 3 full years.
• Maturity under this plan is free under sec 10(10D).
• Income Tax Benefit: Premium paid under this plan is eligible for TAX rebate under section 80c.
source: licindia, licallinonecalc