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LIC Jeevan Labh Plan (836)

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, if policy term 16 has been selected then premium will be paid for 10 years only and maturity will be paid after completion of 16 years. The benefit illustration given in this example is based on simple reversionary bonus declared for 2015-16 (Latest).

Key Features

  • High Bonus Attracting Plan
  • Premiums need to be paid for less number of years than Maturity year
  • Ideal Plan for planning Child's Education and Marriage
  • Options to avail accidental benefit and term riders
  • Paid premiums are exempted from income tax under 80C
  • Maturity amount is tax free under 10 (10D)

Plan Parameters

Minimum Age at Entry8 Years (Completed)
Maximum Age at Entry59 Years for 16 Year Term
54 Years for 21 Year Term
50 Years for 25 Year Term
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Premium Paying ModeYearly, Half Yearly, Quarterly, Monthly (ECS Only)
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Policy Term (Premium Payment Term) 16(10), 21(15), 25(16)
Basic Sum Assured 2,00,000 and above (in multiple of 10,000)
Premium Payment Mode rebate 2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly
Rebate on High Sum Assured
(Per 1000 of Sum Assured)
0% up to 4,90,000
1.25% for 5,00,000 to 9,90,000
1.50% for 10,00,000 to 14,90,000
1.75% for 15,00,000 and above
LoanAfter 3 years
SurrenderAfter 3 years of full premium payment [ Surrender Value Calculator]

Maturity Benefit

On completion of policy term, Sum Assured + Bonus + Final Addition Bonus will be paid as maturity.

Death Benefit

In case of death during policy term of the plan, Bonus up to year of death & FAB along with Sum Assured will be paid as Death claim to Policy holder's nominee.

Jeevan Labh (836) with an Example

Sum Assured (Rs.)12,00,000
Age (Years)29
Policy Term(Years)25
Premium Paying Term16
Purchase Year2016
Yearly Premium (Rs.) (Without ST)54,385
Total Paid Premium (Rs.)8,70,160

(To know premium with prevailing service tax (ST) and benefits as per your details, please use Premium Calculator and Maturity Calculator for this plan.)

So, as per above example, policy holder needs to pay the premium of Rs. 54,385 per year for 16 years (Premium Paying Term) and after completion of 25 years (Policy Term). The benefits (maturity & Year-wise death claims) related to this plan is given below. The following illustration has been prepared as per 2015-16 bonus rate(Latest).

Maturity Details

If Policy holder survives 25 years, then Maturity (Sum Assured + Bonus +FAB) will be as under.

Maturity Year Age at Maturity Total Premium Paid Maturity Amount (Approx.)
2041 54 870160 3240000

Death Claim Details

In case of death during policy term ( Before 25 years ), Sum Assured + Bonus + Final Addition Bonus (Normal Life Cover) will be paid to nominee. In case of accidental death, additional amount equal to Sum Assured along with Sum Assured + Bonus + Final Addition Bonus (Accidental Life Cover) will be paid to nominee. Year-wise and Age-wise Normal Life Cover and Accidental Life Covers will be as follows.

How to Understand Following Table

Suppose if, unfortunate death of policy holder happens in year 2027 (at age 40), then by that time total premium paid will be Rs. 6,52,620 and nominee will get death claim as Rs. 19,20,000 in case of normal death or Rs. 31,20,000 as accidental death claim in case of death due to accident and policy will stop.

Year Age Total Paid Premium Normal Life Cover (Approx.) Accidental Life Cover (Approx.)
2016 29 54385 1260000 2460000
2017 30 108770 1320000 2520000
2018 31 163155 1380000 2580000
2019 32 217540 1440000 2640000
2020 33 271925 1500000 2700000
2021 34 326310 1560000 2760000
2022 35 380695 1620000 2820000
2023 36 435080 1680000 2880000
2024 37 489465 1740000 2940000
2025 38 543850 1800000 3000000
2026 39 598235 1860000 3060000
2027 40 652620 1920000 3120000
2028 41 707005 1980000 3180000
2029 42 761390 2040000 3240000
2030 43 815775 2136000 3336000
2031 44 870160 2202000 3402000
2032 45 -- 2274000 3474000
2033 46 -- 2346000 3546000
2034 47 -- 2448000 3648000
2035 48 -- 2520000 3720000
2036 49 -- 2640000 3840000
2037 50 -- 2784000 3984000
2038 51 -- 2940000 4140000
2039 52 -- 3060000 4260000
2040 53 -- 3240000 4440000

Above example has been prepared for illustration purpose only. The Bonus rate has been taken as Rs. 50 per thousand of sum assured which is as per last declared and FAB rate as Rs. 450 per thousand of sum assured. for More details, please refer to LIC Website and in case of any query please write your comment below.

Comments & Reviews

Wrote : 14-11-2017 21:01:20

Please tell me is medical test required for Jeevan Labh plan 836 policy for insured amount Rs 5400000/- for period of 25 years.

Replied : 14-11-2017 23:43:43
Yes, for sum assured 54,00,000, medical examination will be required.

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Wrote : 24-09-2017 18:38:49

Please tell me is medical test required for Jeevan Labh plan 836 policy for professionals like Advocates for insured amount Rs 650000/- for period of 16 years.

Replied : 25-09-2017 12:07:13
For 6.5 Lakh sum assured, no medical tests are required in your case.

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Wrote : 14-09-2017 15:38:56

Jeevan Labh (836): Is this policy contains health benefits as well (I mean medi claim benefits). I m interested to purchase this plan, can any one contact me.

Replied : 15-09-2017 12:00:28
No, medi-claim is not available with this plan.

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Wrote : 05-09-2017 10:07:26

As per plan features, the death benefit is showing Basic Sum Assured, OR 10 times of annualized premium, OR 105% of all premiums paid on death, WHICHEVER IS HIGHER. So, in this case the death benefit is not more than sum assured. But, as per details above in this page "In case of death during policy term ( Before 25 years ), Sum Assured + Bonus + Final Addition Bonus (Normal Life Cover) will be paid to nominee". Which one is correct. Please suggest.

Replied : 05-09-2017 12:28:27
Please calculate your premium and also calculate 10 times of annualized premium and 105% of total premium paid, you will come to know that Basic sum assured is generally higher than other two.

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Wrote : 18-08-2017 16:24:04

jeewan labh age limit kya hai ?

Replied : 18-08-2017 20:46:43
Maximum allowed age is 59 years.

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Wrote : 30-07-2017 11:51:21

Hello friends, For information on income tax benefits/deductions/tax planning/customizing investment as per your need/suitable LIC plan you can contact vikas.pathre1990@gmail.com Its not paid service and its for information only.

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Wrote : 11-07-2017 12:36:28

Kal sam mujhe ek phone aaya Jisme bola Gaya ki her LIC policy holder Ko bonac Mila hi wo policy no mang Raha tha kya wo company ka koi admi tha ya phir koi Syber crime ka call tha please suggest me. Mai jivan Labh policy karbaya hua hi.

Replied : 11-07-2017 14:47:37
Woh ek fruad call tha, kyuni Jeevan Labh policy me bonus last me hi milega. Kisi stranger ko policy number ya other details share nahi karni chahhiye.

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Wrote : 01-07-2017 12:50:21

is this policy contains medical benefits (medical insurance)?

Replied : 01-07-2017 14:44:50
No, this is not a medical insurance policy. It is a life insurance endowment plan which provides life cover during policy term and lump-sum maturity amount on completion of policy term. It will not provide any benefit in case of hospital treatment.

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Wrote : 07-06-2017 14:35:07

Sir ,I m policy jivan labh 5 lac my half early amount 13756 in 21 years sir please my maturity something about rs

Replied : 08-06-2017 15:46:43
Please use maturity calculator for aaprox benefit calculation.

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Wrote : 02-06-2017 00:35:14

Hi I just want to know how u calculate the % of bonus....It's yearly which we had paid on premium or total sum assured amt.......In jevan labh policy......

Replied : 02-06-2017 10:43:05
Bonus is in Rs per 1000 of sum assured/per year. It is calculated as Sum Assured x Bonus rate/1000 per year.

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Wrote : 30-05-2017 23:19:59

Hi sir, I am an engineer. I took jeevan labh 836 monthly premium paid Rs 13965. Term 25 years. Sum assured Rs. 35,00,000. Maturity value after 25 years I will receive Rs 9800000 as per policy. When I received maturity value of Rs 9800000, in that time whether I have to pay tax on maturity value or exempted? Pls guide as per situation.

Replied : 31-05-2017 00:15:31
Maturity will be tax free under 10(10D).

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Wrote : 30-05-2017 11:04:38

I have taken jeeven labh 16(10) plan for 200000.00 sum assured. my question is that cant I get the maturity value after 10 years ? or will have to wait for another 6 years ? in case something happens between 11th years to 16 years the maturity benefits will continue till 16th year

Replied : 31-05-2017 00:13:31
As per your example, if death happens between 11th to 16th policy year, then policy holder's nominee will get sum assured + accumulated bonus up to year of death.

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Wrote : 13-04-2017 12:37:30

I am paying rs 12010 per year in jeevan saral policy from 2012 . How much maturity return i shall get after 25 years .

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Wrote : 01-04-2017 22:37:06

Hello, i am a chief insurance advisor from mumbai. I have been in insurance business for over 30 years...i would highly recommend all of you to invest in this plan! If anyone wants any guidelines or any advice relating to insurance, tax planning or investments be free to call me on my fone -9820036783

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Wrote : 24-03-2017 22:08:34

My father's age is 59 and I want to invest in LIC JIVAN LABH ( 836) plan. It is possible or not please inform me

Replied : 24-03-2017 22:19:51
Yes, He can. please ensure that his age is less than 59 year and 6months otherwise his age will be considered as 60 years. You may use age calculator for his age calculation.

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Wrote : 11-03-2017 12:01:07

How have you calculated 32 lac returns for SA of just 12 lacs when bonus paid is just Rs 50 per Rs 1000 of premium. Bonus should be around Rs 60,000 and maturity amount should be around Rs 12,60,000.

Replied : 11-03-2017 16:36:53
Bonus Rs 50 is per 1000 of sum assured per year, so 60,000 (appox) bonus is for single year and you need to multiply it by term to get total bonus.

Wrote : 13-03-2017 17:09:40

Is bonus paid for each term year or just for payment term or just 1 year. Is it paid on per Rs 1000 of premium paid till date or SA, I don't think this plan will give Rs 15 lac bonus as per your calculations.

Replied : 13-03-2017 17:34:41
Bonus declared for each year during policy term e.g. Rs. 50 per thousand of Sum Assured per year. what is your sum assured and term you are talking about ?, please share, will clear your doubt.

Wrote : 15-03-2017 23:38:01

According to your calculation 56424*16 = 887500/- But actually it is 902784/- Why this miscalculation is taken place..

Replied : 16-03-2017 10:18:51
Premium amount 56424 is inclusive of service tax and total approx amount to be paid is calculated on premium without service tax. The reason for taking premium without service tax is because of the fact that service tax rate (prevailing rate 3.75% on First Year Premium and 1.875% on second year onwards premiums) are subject to change in future. To make it more clear, premium without ST has been updated.

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Wrote : 09-03-2017 14:19:20

i am recently registered in LIC portal. when i am trying to pay premium (Jeevan labh, code 863) its asking type of policy like conventional policies ulip/health policies pay renewal premium pay additional (top up) premium Please suggest which one i need to select for jeevan labh policy

Replied : 09-03-2017 20:54:48
It will be conventional in case of 836, you may follow this LINK for guidance.

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Wrote : 01-03-2017 19:35:26

jeevan labh policy (836) this policy cover income tax benefit if how many

Replied : 01-03-2017 21:20:43
Yes, Paid premiums up to 1.5 lakh is exempted from income tax under 80C.

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Wrote : 17-02-2017 14:10:32

Hello sir we want jeevanlabha policy but we can't pay yearly 40000 so how much can we pay

Replied : 17-02-2017 16:04:39
You can pay monthly, quarterly or half yearly.

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Wrote : 10-02-2017 08:34:10

I have taken jeevan labh policy 16(25) and pay a mnthly premium of 3829/- .Upto what percentage income tax exemption i will get..please tell me with an example

Replied : 10-02-2017 16:48:51
Premium paid against life insursnce policy is exempted from income tax under 80c and limit is 1.5Lakh. You cab take rebate up to 1.5 Lakh including all investment.

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Wrote : 26-01-2017 13:16:09

Please suggest: (1) My wife is 53 yrs old working as contractual employee with no pension or any benefit. Any pension policy or will the Jeevan Labh be ok ? (2) I am 62 yrs old. Retd. govt. employee. So which LIC policy will be better?. Thanks. SKD.

Replied : 26-01-2017 17:50:24
If pension is main objective then it is not good to invest in insurance plans as insurance premium includes mortality charges which will be high in your cases. Kindly divide your investment in to RD and SIP.

Wrote : 09-02-2017 05:25:53

The Only Good Option to invest will be Jeevan Akshay ,Option iv Annutiy for life with Purchase Price on Death. Please call me back at 964612204 more details.

Wrote : 30-07-2017 11:37:08

Das Sir, I agree with Insurance21 that merely relying on policy for pension objective may not be best option, but LIC Policy combined with other options like RD, SIP/MF it can be better to customize your own pension plan. For more info regarding investment options vijayakumari352@gmail.com or 8287641399

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Wrote : 25-01-2017 08:36:14

Hello sir ,how can we get online mode rebate on half year mode payment and can you tell me what is Rebate on High Sum Assured (Per 1000 of Sum Assured) on 500000

Replied : 25-01-2017 11:05:09
Mode

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Wrote : 13-01-2017 16:32:39

Hello sir, Jeevan labh policy me low premium hai Kya?Pls reply.

Replied : 13-01-2017 16:50:09
Minimum Premium depends upon age and term, please use PREMIUM CALCULATOR to calculate premium as per your age. Enter minimum sum assured 200000.

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Wrote : 13-01-2017 05:45:29

Sir I want total rs 20lakh( including all). So in jivan Labh policy how much I have to paid ?

Replied : 13-01-2017 10:23:19
Kindly use Jeevan Labh Planner and try entering investment amounts until you get maturity(approx return) as 20Lakh.

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Wrote : 08-01-2017 11:10:09

Sir I purchase new jeevan labh(836) can I get cash back from payment of premium online

Replied : 08-01-2017 19:19:44
Cash Back is not applicable on this plan.

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Wrote : 25-12-2016 18:22:25

Hi Ravi , I have taken jeevan saral policy in the year Jan 2011 , premium amount of Rs 1021 per month , so what would be guaranteed maturity amount after 10 years

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Wrote : 24-12-2016 16:36:11

Hi sir, I am 41 years & investing Rs: 55757. 00 PM (from 31.03.2016) in Jeevan Labh (PPT: 836 /21/15), as an lici agent informed I may get pension benefit from the same after completion of 21 years. Sir, I am working in a pvt company having to pension.... kindly inform, would I able to get pension from Jeevan Labh?

Replied : 24-12-2016 20:02:22
This plan will provide a lump sum maturity amoumt and you can invest the maturity amount in any pension plan available at that time to get pension. This policy itself, does not have pension feature.

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Wrote : 23-12-2016 18:45:51

Sir, Now I am 42, planned to Jeevan Labh of Rs.5L S.A. for 21(15PPT) then what will be Approx. Maturity Amount, Risk Amount for Normal and Accident. Kindly advice.

Replied : 23-12-2016 20:14:45
Maturity calculator is available on this site, please use it for approx benefits

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Wrote : 22-12-2016 18:09:09

If u need clarity see the table but it is not giving any guartee on maturity amount. So u wil b getting less than fb. If u see in terms of risk benifit it is attractive and benifit u.

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Wrote : 16-12-2016 20:46:17

Dear sir i want to know that what is the maximum ceiling amount of accidental death claim in lic endowment policies? Suppose Mr X has three policies like new jeevan aanad of sum assured of 25 lakh , jeevan lakshya of sum assured of 30 lakh and jeevan labh of sum assured of 20 lakh and suppose Mr X dies in accident after taking all three policies then what is the maximum a??cidental amount Mrs X will receive after death of Mr X?

Replied : 17-12-2016 19:14:36
Max Accidental death claim amount is 1Crore including all policies of LIC.

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