JEEVAN LABH

New LIC Jeevan Labh Policy Benefits and Review

LIC Jeevan Labh plan is a non-linked plan that offers an attractive combination of protection and saving features. Jeevan Labh LIC Plan provides the best policies with a vast range of benefits for you and your family. LIC offers various Endowment plans for individuals, Family, etc. New LIC Jeevan Labh Policy Features, Benefits are mentioned below. The LIC Jeevan Labh 836 plan provides customized policy that can enclose almost all need that you might have. Here you can get the complete details regarding the LIC New Jeevan Labh Plan. If you want to know more details, then you can also visit the official website www.licindia.in

LIC’s Jeevan Labh Plan Benefits

Death Benefit

LIC Jeevan Labh Plan Death Benefit = Sum Assured on death + Vested Simple Reversionary Bonuses + Final Additional Bouns(FAB).

• Sum Assured on Death: On the death of the policyholder during the policy term, Sum Assured on death, Vested Simple Reversionary Bonuses, and Final Additional Bouns will be paid.
• Sum Assured on Death is 10 times higher than the annualized premium.
• Death Benefit: The Death Benefit shall not be less than 105% of the total premium paid as on death.

Maturity Benefit

Maturity Benefit of LIC Jeevan Labh Plan = Sum Assured on Maturity + Vested Simple Reversionary Bonuses + Final Additional Bouns(FAB).

• Sum Assumed on Maturity: On Survival to the end of the policy term, Sum Assumed on Maturity, Vested Simple Reversionary Bonuses, and Final Additional Bouns will be paid.

Additional Information of LIC Jeevan Labh 836 Plan

• Participation in Profit: New Lic Jeevan Labh policy intended to participate in profits of the Corporation and entitled to receive Simple Reversionary Bonuses.
• Riders: Riders are available under this LIC Jeevan Labh Plan. Availability of Accidental Death and Disability Benefit Rider and New Term Assurance Rider.
  • LIC’s Accidental Death and Disability Benefit Rider UIN (512B209V01): Lic Accidental Death and Disability Benefit Rider (AD&DB) is available as an optional rider.
  • LIC’s New Term Assurance Rider UIN (512B210V01): Lic New Term Assurance Rider is available at the policy on payment of additional premium.
• Paid-Up Value: After at least three full year’s premium have been paid, and any succeeding premiums are not duly paid, Jeevan Labh LIC Plan shall not be wholly void, but shall subsist as a paid-up policy.
• Surrender Value: The insured can surrender the policy at any time during the policy term provided the insured have paid at least three full years premiums.
• Revivals: If the policy has expired, then the Life Assured can revive the same during his/ her lifetime.
• Loan: Loan facility is available under LIC Jeevan Labh 836 plan, after payment of premiums for at least three full years.
• Taxes: The amount of Income Tax payable as per the existing rates shall be payable by the policyholder on premiums. For more refer, www.taxqueries.in
• Free Look Period: If Customer is not satisfied with the “Terms & Conditions” of the LIC Jeevan Labh Plan, he/she may return the policy to the Corporation stating the reasons for objections, within 15 days from the receipt date of the policy.
• Suicide Clause

If the policyholder commits suicide for any of the reasons within 12 months of the date of commencement of risk or from the time of revival, then the corporation will return 80% of the premium for what he had paid to his assignees or nominees.