LIC Jeevan Labh

LIC Jeevan Labh (Table No 836) is a non-linked (Not dependent on share market) limited premium paying endowment assurance plan which means premium paying term is less than policy term, for example, for 16 years policy term, premium needs to be paid for 10 years only and maturity will happen after completion of 16 years. This page tries to provide complete understanding of plan’s specifications, premium, maturity, year-wise death claims etc. For a layman understanding, an example with latest bonus rate has also been illustrated. Please note, it is not official webpage of insurer.

Get Free Advice

Key Features

Maturity & Life Cover (Death Claim) of Jeevan Labh

Maturity Benefits

In Jeevan Labh, a policyholder needs to pay premium during Premium Paying Term (PPT) and then the policyholder has to wait for completion of Policy Term and on the completion Policy Term, Jeevan Labh provides maturity amount which is equal to Basic Sum Assured + Simple Revisionary Bonus + Final Addition Bonus (FAB), if any. LIC declares Simple Revisionary Bonus or simply Bonus for each policy year during policy term. Year-wise declared bonus for Jeevan Labh has been given in Table-1.

Life Cover (Death Claim)

In case of death during the policy term, death claim will be Basic Sum assured + Accumulated Simple Revisionary Bonus + Final Addition Bonus, provided all due premium till the time of death are paid and policy is in force. Year-wise death claim has been explained in the example section in the later part of this page.

Related Link: Jeevan Labh Maturity and Death Benefit Calculator

Table-1. New Jeevan Labh Bonus details ( per 1000 of Sum Assured)
Updated On: 31-08-2019
Year16 Years Term21 Years Term25 Years Term
2018-19434750
2017-18434750
2016-17434750
2015-16434750

Know More About the Plan

LIC Policy Features: