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.

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)

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)
Year 16 Years Term 21 Years Term 25 Years Term
2017-18 43 47 50
2016-17 43 47 50
2015-16 43 47 50

To know how total bonus is calculated, please click here.

Jeevan Labh Quick Learn


Plan Parameters

Minimum Age at Entry 8 Years (Completed)
Maximum Age at Entry
[Calculate Age]
59 Years for 16 Year Term
54 Years for 21 Year Term
50 Years for 25 Year Term
Premium Paying Mode
[Calculate Your Premium]
Yearly, Half Yearly, Quarterly, Monthly (NACH)
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
Loan After 3 years [ Loan Calculator]
Surrender After 3 years of full premium payment [ Surrender Value Calculator]

Surrender, Loan and Paid-up value in LIC Jeevan Labh

LIC Jeevan Labh Policy Surrender

Policy surrender is an important and critical parameter in making purchase decision. Surrender means closing a policy before its scheduled completion (maturity) date, which often incurs losses and it should be exercised in extreme situation only. Jeevan Labh plan can be surrendered, if a policy has successfully completed 3 policy years (premiums for at least 3 years are paid) which means there will not be any return in the form of surrender value if a policy is surrendered before 3 years.

Link: Jeevan Labh (836) Surrender Value Calculator

Loan Facility in Jeevan Labh

Jeevan Labh plan has option to avail loan during policy term in case of cash requirement. The loan amount is based on surrender value, so loan can be availed only after 3 successful policy years. Please use Jeevan Labh Loan value calculator to know more about it.

Paid-up Feature of Jeevan Labh

Once a New Jeevan Anand policy has completed minimum 3 years with all due premiums paid and policyholder chooses to stop paying further premiums, it automatically becomes eligible for paid-up option. In case of paid-up, benefits of the policy (Maturity and Death claims) reduced by factor of total number of premiums paid/ total number of premium to be paid.

Grace Period, Lapse and Revival in Jeevan Labh

There is a grace period of 30 days for Yearly, Half-yearly & Quarterly modes and 15 days for monthly mode from due date of premium payment. For example, if yearly premium is due on 10th June, then policyholder has time till 10th July to deposit premium without policy being lapsed.

If premium is not deposited before due date including grace period, then policy lapses. A lapsed policy can be revived by paying due premiums along with late fee within 2 years from first unpaid premium.

Cooling-off Period in Jeevan Labh

Cooling-off means, a policyholder can return the purchased policy(s) within 15 days from receipt of policy document(s), if he is not satisfies with Terms & conditions of the policy(s). On cooling-off request, policy is cancelled and paid premium is returned after deduction of proportionate premium, medical test cost, clerical charges etc.

Optional Riders with Jeevan Labh

Following riders are available with Jeevan Labh on payment of additional premium.

  • Accidental Death and Disability Benefit Rider
  • Term Rider

Tax Benefits

Paid premium under Jeevan Labh is exempted under section 80c and received maturity or death claim is tax free under section 10(10D) of Income Tax act.


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 (100)

Wrote :

27-03-2019 15:05:02

Kindly inform us, the Maturity Amount is Taxable , if yes , the details TDS Payable / on what Amount.

Wrote :

27-03-2019 17:46:55

Maturity will be tax free.

Write CommentReply

Wrote :

17-03-2019 17:04:29

How will i get to know the last date to purchase jeevan labh policy. I want to purchase it in the month of September 2019

Wrote :

18-03-2019 18:57:31

There is no news regarding closing of this policy, there is 99% chances that it will be available in September-2019.

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Wrote :

16-03-2019 21:12:07

What is the last date to purchase jeevan labh policy?

Wrote :

17-03-2019 16:57:09

There is no notified last date of Jeevan Labh Policy.

Write CommentReply

Wrote :

25-02-2019 17:56:47

I bought LIC Jeevan Labh 836. In the formal documents it is only mentioned about sum assured. Where can I see the bonus and FAB which I would get also what is the surety of getting these bonuses.

Wrote :

27-02-2019 02:09:36

On Jeevan Labh policy document only Sum Assured is indicated. Bonus is not mentioned on policy bond because bonus rate is declared every year and keep accumulating in this policy, for example, Rs 48 per thousand of sum assured for 2017.

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Wrote :

05-02-2019 10:31:52

I have a Jeevan Labh (836) plan, with commencement date 05/02/2016, for 25 years policy term. The premium amount is 11525 qtly. I want to now stop paying the premiums. Please let me know the amount that I would I receive at the end of the policy, in case I stop the premium payments now.

Wrote :

06-02-2019 17:56:34

For any return like surrender value or paid value, Jeevan labh must successfully complete 3 years and after successful 3 years, if you discontinue premium payment, then your policy becomes paid-up. Please use follow calculator to understand it.
Jeevan Labh paid up calculator

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Wrote :

02-02-2019 16:34:28

last year(2018) i buy jeevan labh plan 836.SUM ASSURED 22 LAKH with ADDB Rider(512B209V02). Lic person told me no need to medical test. They told me that if you buy a plan 836 + ADDB(512B209V02) + term rider ,then you need a medical test. is it true.

Wrote :

02-02-2019 19:11:25

In normal condition, medical tests will be required, but there are non-medical cases for certain professionals (like doctor etc) below 35 years of age , who can take 25 Lakh sum assured without medical tests.

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Wrote :

02-02-2019 11:38:46

Medical test is required for LIC plan 836 with SA 22lakh.

Wrote :

02-02-2019 15:48:23

Yes, Medical test shall be required.

Write CommentReply

Wrote :

01-02-2019 19:56:29

Sir, I would like to know about Jeevan Labh Policy (836), for Sum assured 10 lac (maturity16/21) whether this policy would cover myself 48 years and my child is 14 years, whether any medical is required and any risk cover are applicable for both and what will be monthly, half yearly, yearly.

Wrote :

01-02-2019 20:41:44

It is a single life plan, it will not cover both lives (Father and son), however both can take plans separately. Yes medical test may be required and it will depend upon your health condition and occupation. Your can calculate premium using following calculator.
Jeevan Labh Plan Premium Calculator

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Wrote :

29-01-2019 12:40:03

Hi, I have already purchased Jeevan Labh policy, I have one query: Is this policy is having Pension also? I mean after maturity, I will get the Total Maturity amount. Is there any pension is available in this policy?

Wrote :

29-01-2019 18:44:25

No, this plan does not inbuilt pension feature. This plan will provide maturity after completion of policy term. You can purchase a pension plan available at that time or opt maturity settlement option to get maturity in installments.

Wrote :

29-01-2019 18:50:00

Ok thank you!

Write CommentReply

Wrote :

29-01-2019 08:04:59

If a renewal was due on 28th Jan and there were insufficent funds in the bank then how can we repay the premium as the site doesnt allow me to pay via online transactions as i have select auto debit option for the renewal payment .

Wrote :

29-01-2019 18:47:36

You can visit nearest branch to pay the premium there and your auto debit will continue from next due date.

Write CommentReply

Wrote :

30-12-2018 17:05:58

Dear sir I would like to buy jeevan labh policy as SA 15lac for 16/25 term. In maturity calculator it shows 40.5lac as a return maturity amount. So now my question is the maturity amount is guaranteed one r not. If it may changes means then it will be a big loss to me r not. Pls give detail explanation. So that I can plan accordingly.

Wrote :

30-12-2018 19:23:16

The shown maturity is as per past bonus rate, it might go up and down. But in LIC plans bonus does not vary much (last 10 years).

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Wrote :

28-12-2018 22:36:37

I deposited 150000 at 23 years in Jeevan lab policy how much will I receive.

Wrote :

30-12-2018 14:24:43

It is not a single premium plan, then how would deposited 150000? is it yearly premium or sum assured?

Write CommentReply

Wrote :

08-12-2018 16:09:41

Sir thanks for responding. But in calculator I did not get correct maturity amount. So please send year-wise surrender value illustration with scenario for living and non living benefits .

Wrote :

13-12-2018 12:53:52

Maturity shown above is based and past data. For Surrender value, please use following calculator.
Jeevan Labh (836) Loan Amount Calculator

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Wrote :

07-12-2018 16:02:16

Sir please send the illustration for Jeevan labh plan For 16 years, 21 years and 25 years

Wrote :

08-12-2018 14:47:02

Please use this Calculator to generate approx benefits (illustration) yourself.

Write CommentReply

Wrote :

15-10-2018 15:18:04

THANKS A LOT SIR FOR MY AFORESAID QUERY.

Write CommentReply

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?

Wrote :

29-01-2019 13:21:09

Suppose the person age is 48 and profession is farmer .. any medical test required

Wrote :

29-01-2019 18:39:16

Yes, it will require medical test if he opts for higher sum assured.

Write CommentReply

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.

Write CommentReply

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 ?

Write CommentReply

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.

Write CommentReply

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).

Write CommentReply

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 .

Write CommentReply

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?

Write CommentReply

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.

Write CommentReply

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.

Write CommentReply

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.

Write CommentReply

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.

Write CommentReply

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.

Write CommentReply

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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