LIC Jeevan Labh
A limited premium paying, participating, non-linked savings life insurance plan from LIC of India.
Overview
LIC Jeevan Labh is a limited premium paying endowment-type plan from LIC of India where the premium paying term is shorter than the policy term. Full terms, eligibility and benefit structure are set out in the official LIC brochure.
Key features
- Choice of 3 policy term and premium-paying term combinations (16/10, 21/15, or 25/16 years)
- Participates in LIC's profits through annual Simple Reversionary Bonuses, plus a possible Final Additional Bonus at claim
- Death and maturity benefits can be taken as a lump sum or spread over 5, 10, or 15 years
- Loan facility available against the policy once it has acquired a surrender value
- Optional riders: Accidental Death and Disability Benefit, Term Assurance, Critical Illness, and Premium Waiver Benefit
Eligibility
- Entry age typically 8 to 59 years, subject to the policy term chosen
- Available to individuals, and can also be taken on a child's life with a parent paying the premiums
Benefits
- Guaranteed maturity payout (sum assured) plus any bonuses declared, if the policyholder survives the term
- Death benefit is the higher of 10 times the annual premium or the sum assured, plus bonuses, and is never less than 105% of premiums paid
- Combines savings discipline with life cover in a single limited-payment plan
Policy term & premium payment
- Policy term
- 16, 21, or 25 years, chosen at the time of purchase.
- Premium frequency
- Limited premium paying term of 10, 15, or 16 years (shorter than the policy term), payable Yearly / Half-yearly / Quarterly / Monthly.
Who may consider this plan
People who want life cover plus disciplined, guaranteed savings, but would prefer to stop paying premiums well before the policy actually matures.
Important notes
The exact maturity value depends on the bonus rates LIC declares over the years, which aren't fixed in advance — our advisor can walk you through a realistic illustration at different bonus scenarios before you commit.
This page describes the plan type as published by LIC of India and does not reproduce or estimate premium rates, bonus rates, returns or guarantees. Refer to the official LIC brochure and policy document before purchase. Official source: LIC of India. Verification against the official brochure is carried out by the advisor at the time of enquiry.