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
Calculate Age
Premium Paying ModeYearly, Half Yearly, Quarterly, Monthly (ECS Only)
Calculate Your Premium
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 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 (86)

Wrote :

15-10-2018 15:18:04

THANKS A LOT SIR FOR MY AFORESAID QUERY.

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Wrote :

15-10-2018 14:10:43

Please tell me if medical test is required for Jeevan Labh plan 836 policy for insured amount Rs 700000/- for period of 25 years.

Wrote :

17-10-2018 07:47:42

What is your age and profession?

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Wrote :

14-10-2018 14:08:26

SIR. IS THERE MEDICLAIM. AVAILABLE IN L. I. C. OR NOT PLEASE LET ME KNOW.

Wrote :

15-10-2018 13:33:44

Jeevan arogya plan has feature of medi-claim.

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Wrote :

21-09-2018 23:59:17

my age is 45 now. I want to buy a jeevan labh policy for 10 lacs. pls suggest which term will be better for me? 16/21/25

Wrote :

22-09-2018 00:22:13

What is your purpose of buying ?

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Wrote :

16-09-2018 14:23:19

Sir, my age is 35 and I want to buy 10/16 policy, which sum assured 10L more, so I want to know that medical test is neccesary or not..

Wrote :

16-09-2018 20:24:25

It will depend upon health conditions (like BMI) and your profession.

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Wrote :

24-08-2018 12:34:51

Sir if I get 3lac sum assured value For 16/25 What will be the yearly premium. My age is 30.

Wrote :

28-08-2018 22:54:05

Rs. 14090 with accidental rider (excluding GST).

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Wrote :

06-08-2018 11:03:24

Hello sir, if I take Jeevan Labh plan with a sum assured of 10,00,000 for 10 years with a maturity at 16 years, then what will be the yearly premium amount.

Wrote :

08-08-2018 10:47:35

Age is also required to calculate premium. You may calculate it yourself by using this premium calculator .

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Wrote :

04-08-2018 22:17:06

If I take a this policy to 20 laks for 16 year...is there any Medical test required from LIC company side?

Wrote :

05-08-2018 22:30:26

what is your age, profession and income?

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Wrote :

06-07-2018 21:33:16

After maturity death benefit exit or not?

Wrote :

08-07-2018 20:39:10

After Maturity, the policy gets terminated, so no benefits after receiving maturity.

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Wrote :

28-04-2018 17:21:19

I would like to know in Jeevan Labh plan , for 5 lakhs sum insured any medical test ( 48 years ) is required for taking additional rider like new term insurance. What will be the premium including all riders

Wrote :

29-04-2018 11:04:04

Yes, in case of opting term rider, medical test will be required.

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Wrote :

28-04-2018 11:54:32

I would like to know in Jeevan Labh plan , for 10 lakhs sum insured any medical test ( 48 years ) is required for taking additional rider like new term insurance. What will be the premium including all riders

Wrote :

28-04-2018 12:13:39

Medical test will be required.

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Wrote :

24-03-2018 17:40:50

My policy date 31/2018 but. Policy bound has"t not come yet. 2 month complete.so what I do.

Wrote :

24-03-2018 23:10:48

Please visit your branch or contact your agent.

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Wrote :

16-01-2018 19:36:02

Table no.836-21-15 What should be total amount at time of maturity... Please let me know & benefits also

Wrote :

16-01-2018 22:54:55

Sum assured is also required to calculate benefits of this plan. You may use maturity calculator of this plan to know all approx benefits related to this plan.

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Wrote :

13-01-2018 10:02:43

Is Jivan Labh policy amount is taxable on its maturity date?

Wrote :

13-01-2018 21:52:26

Maturity amount is tax free.

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Wrote :

26-11-2017 20:11:31

Dear Sir, please suggest which one is better 1. Jeevan Labh (836) 2. Jeevan Lakshya (833) also suggest what is differences in both the plans Thanks for your support

Wrote :

27-11-2017 12:14:06

Both plans provide different types of benefits, so the plan will better which suits your requirement, please lets know what is your objective of taking this plan, so that we can help you choose one.

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Wrote :

21-11-2017 19:29:46

Respected Sir/Madam My self Tanoy Roy. i want to know any kind of signature of my agent (Divisional Officer) require in time of policy mature or to get maturity value ? He said to me no signature require. Please co-operate.

Wrote :

21-11-2017 21:22:12

Yes, signature of agent or development officer will not be required for maturity claim.

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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.

Wrote :

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.

Wrote :

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.

Wrote :

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.

Wrote :

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 ?

Wrote :

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.

Wrote :

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)?

Wrote :

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

Wrote :

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......

Wrote :

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.

Wrote :

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

Wrote :

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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