LIC’s New Plan – Jeevan Labh (Table 836) – Review, Benefit calculators, and comparisons.

Introduction to Jeevan Labh.

Jeevan Labh (Table 836) – introduced by Life Insurance Corporation of India on 4th January 2016 is a Limited Payment Endowment plan where premium paying term is lesser than actual term of the plan. LIC has wisely selected three terms to choose for this plan. The terms allowed are 16 years 21 years and 25 years and the premium paying periods allowed are 10 years 15 years and 16 years respectively. Jeevan Labh has a minimum joining age of 8 years and the maximum maturity age of 75 years. Minimum Sum Assured allowed is Rs. 200000 with no limit for maximum insurance.

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LIC Jeevan Labh -T 836 | All details with premium and maturity calculators

Who can go for Jeevan Labh?

As the premium paying term is lower than the term of the policy, this plan is mainly advisable to people with higher income in the initial period. People with uncertainty in continued income for a long period and people who do not want to continue the premium for long period can also go for this plan. It is generally suitable for Non Resident Indians (NRIs) as the premium will not be a burden even if they are returning back after a period of time. The longer term of the policy will provide the policy holder with insurance for a longer period which is always desirable. This plan can also be used to meet the children’s marriage or educational expenses if the policy holder have young children.

Unique advantages.

  • The term of the policy is fixed in such a manner that the policy holder is benefited with maximum returns. One thing which usually people do not notice is that LIC declares the bonus of plans in relation with term of the plan.For example Plan with 16 years of term will get a return at the rate of policies having term between 16 to 20 and term 21 years will get bonus which is declared for the terms 21 and above.
  •  As the term of the plan is higher the maturity value of the policy will also be really high.
  • Total premium for the plan is considerably less compared to the Sum Assured and that makes the plan even more attractive.

Insurance Coverage

Insurance coverage of Jeevan Labh includes Normal Coverage, Accident and Disability coverage and Term Assurance. Normal death coverage during the term of the policy will be equal to the Sum Assured plus bonus accrued to the policy till the time of death. Additional accidental coverage equal to Sum Assured will be available for accidental death. Permanent disability benefit also will be available as a part of Accidental coverage. Term assurance rider can be opted by the party if additional insurance is required.

Examples of benefit illustration (at current declared rates of comparable plans.)

Maturity amount of Jeevan Labh includes Sum Assured, Bonus and Final Additional Bonus. The maturity value will increase with the increase of Bonus and Final Additional Bonus. As the term increases the bonus available at the time of maturity increase in two dimensions. Bonus rate per thousand sum assured of policy-which is declared by LIC every year -will increase with term of policy. That means a 21 year policy will have a higher bonus rate compared to a 16 year policy. Further as the bonus declared every year accrues to the policy every year, the policy with higher term will have a higher bonus at maturity. Assumed maturity value of the policies of different terms are compared in the chart below.

Other Limited Premium Payment plans of LIC of India.
Apart from Jeevan labh, LIC is offering few more limited paynent policies which is also worth considering. Limited Premium Endowment Plan (Table 830), Jeevan Lakshya (Table 833) and 20 year money back (Table 820) and 25 year money back plan (Table 821) are also limited payment plans and see the comparison of these plans below.
  • Download a Jeevan Labh leaflet and Ready Recon-er of premiums by clicking here

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Anish L J

Anish L J

He is a Finance, Insurance and Software consultant with more than 18 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'Our LIC' ( is his endeavor to provide simple and solid solutions internal and external customers of Life Insurance Corporation of India.

One thought on “LIC’s New Plan – Jeevan Labh (Table 836) – Review, Benefit calculators, and comparisons.

  • I read about jeevan labh.It is a good policy & i like it.



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