LIC Jeevan Labh Plan Eligibility, Specifications, Benefits

LIC Jeevan Labh is a non-linked, with-profits, limited premium payment policy offered by Life Insurance Corporation of India (LIC). It provides financial protection to the policyholder’s family in case of his/her unfortunate demise and also offers guaranteed lump sum benefits at the end of the policy term.

Under this plan, the policyholder pays the premium for a limited period of time (from 10 to 16 years) and gets a guaranteed lump sum payment on maturity of the policy along with bonuses, if any. The plan also offers death benefits to the nominee in case of the policyholder’s unfortunate demise during the policy term.

Some key features of the plan are:

• Premium payment term can be 10, 15 or 16 years.
• Policy term can be 16, 21 or 25 years.
• Guaranteed maturity benefit is a percentage of the sum assured along with any accrued bonuses.
• Death benefit is paid to the nominee which is the higher of the sum assured or 10 times the annual premium.
• Policy can be surrendered after completion of 3 years.

LIC Jeevan Labh Plan is a popular investment option for individuals looking for a secure and guaranteed return on their investment along with life insurance coverage.

LIC Jeevan Labh Plan Review

LIC Jeevan Labh Plan is a popular investment-cum-insurance plan offered by Life Insurance Corporation of India (LIC). It is a limited premium payment endowment plan that provides guaranteed benefits on maturity, along with life insurance coverage.

Here are some of the key features and benefits of the LIC Jeevan Labh Plan:

1. Limited premium payment term: The policyholder pays the premium for a limited period of 10, 15 or 16 years, after which the policy continues till maturity.
2. Guaranteed Maturity Benefit: The plan provides a guaranteed maturity benefit which is a percentage of the sum assured along with any accrued bonuses.
3. Death Benefit: In case of the unfortunate demise of the policyholder during the policy term, the nominee receives a death benefit which is the higher of the sum assured or 10 times the annual premium.
4. Bonuses: The plan also provides reversionary bonuses, which are declared by LIC from time to time and are paid out on maturity or in the event of the policyholder’s death.
5. Surrender Value: The policy can be surrendered after completion of 3 years, which provides a surrender value to the policyholder.

Please scroll down the page and read on to get more details about LIC New Jeevan Labh Plan Table 936.

LIC Jeevan Labh Plan Specifications

Plan Name	LIC Jeevan Labh Plan
Table no	936
UIN No.	512N304V02
Policy Term	16 for 10 Years PPT 21 for 15 Years PPT 25 for 16 Years PPT
Premium Payiing Term (PPT)	10, 15, 16 Years
Plan Type	Endowment Plan
Minimum age	8 years
Maximum age	59 years for PT 16 years 54 years for PT 21 years 50 years for PT 25 years
Minimum Maturity Age	N/A
Maximum Maturity Age	75 Years
Minimum Sum Assured	Rs. 2,00,000/-
Maximum Sum Assured	No Limit
Premium Paying Mode	Yearly, Half Yearly, Quarterly & Monthly
Loan Facility	After the second year
Income tax benefit	Section 80C and Section 10(10D)
Surrender Facility	After the second year
Accident Death Benefit	ADB Rider Available (Optional)
Death Benefit	Sum Assured + Bonus

Eligibility Criteria for LIC Jeevan Labh Plan

The eligibility criteria for LIC Jeevan Labh Plan are as follows:

Age	The minimum age at entry is 8 years and the maximum age at entry is 59 years.
Policy term	The policy term for LIC Jeevan Labh Plan is 16, 21, or 25 years.
Premium payment term	The premium payment term can be either 10, 15, or 16 years depending on the policy term chosen.
Sum assured	The minimum sum assured for the policy is Rs. 2,00,000, and there is no maximum limit on the sum assured.
Premium payment mode	The premium can be paid yearly, half-yearly, quarterly, or monthly.
Medical examination:	Depending on the age and sum assured, a medical examination may be required to be conducted before the policy is issued.

It is important to note that these eligibility criteria may be subject to change, so it’s always best to check with LIC directly for the most up-to-date information.

LIC Jeevan Labh Plan Features

LIC Jeevan Labh Plan is a non-linked, with-profits, limited premium payment policy offered by Life Insurance Corporation of India (LIC). Here are the main features of the plan:

1. Policy term: The policy term of LIC Jeevan Labh ranges from 16 years to 25 years.
2. Premium payment term: The premium payment term is limited and is shorter than the policy term. The premium payment term options are 10, 15, and 16 years.
3. Premium payment frequency: The policyholder can choose to pay the premium yearly, half-yearly, quarterly or monthly.
4. Death benefit: In case of the policyholder’s unfortunate demise during the policy term, the nominee will receive the sum assured, along with any bonuses, if any.
5. Maturity benefit: If the policyholder survives the policy term, he/she will receive the sum assured on maturity, along with any bonuses, if any.
6. Bonus: The policy participates in the profits of the Corporation and is eligible to receive bonuses, which are declared as per the prevalent rules of the Corporation.
7. Loan facility: The policyholder can avail a loan against the policy after the policy acquires a surrender value.
8. Surrender value: The policy acquires a surrender value after the payment of premiums for at least three full years.
9. Tax benefits: The premium paid towards the policy and the benefits received from the policy are eligible for tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
10. High sum assured rebate: If the sum assured is high, the policyholder is eligible for a rebate on the premium.

Note that the features of LIC Jeevan Labh plan may be subject to change from time to time as per the regulations and the terms and conditions of LIC.

LIC Jeevan Labh Plan Brochure

The LIC Jeevan Labh Plan is a non-linked, with-profits, limited premium payment policy offered by Life Insurance Corporation of India. Here is a brief brochure of the policy:

1. Policy Benefits: The plan offers the following benefits:

• Death Benefit: In case of the unfortunate demise of the policyholder during the policy term, the nominee will receive a sum assured along with bonuses (if any) as death benefit.
• Maturity Benefit: If the policyholder survives till the end of the policy term, they will receive a maturity benefit which includes the sum assured along with bonuses (if any) and the final additional bonus (if any).

2. Premium Payment: The policyholder can choose to pay premiums for a limited term of 10, 15 or 16 years while the policy term is 16, 21 or 25 years respectively.
3. Sum Assured: The minimum sum assured under the policy is Rs. 2,00,000, and there is no maximum limit.
4. Bonuses: The policy participates in the profits of LIC and thus eligible for bonuses. Simple reversionary bonuses and final additional bonus (if any) will be added to the policy.
5. Loan facility: The policy allows the policyholder to take a loan after completion of at least three full years.
6. Surrender Value: The policy acquires a surrender value after the payment of premiums for at least three full years. The surrender value will be the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
7. Tax Benefits: The policyholder can avail tax benefits on the premiums paid and the benefits received as per the prevailing tax laws.

Note: The above information is a brief summary of the LIC Jeevan Labh Plan brochure. The actual terms and conditions of the policy may vary and should be verified from the policy document before purchasing the policy.

LIC Jeevan Labh 936 Brochure PDF Download

If you want to download LIC Jeevan Labh 936 Brochure PDF then. you can visit the official website of Life Insurance Corporation of India (LIC) or contact their customer support to obtain the brochure for the LIC Jeevan Labh 936 policy. They will be able to provide you with the most up-to-date and accurate information on this policy.

Here is a LIC Jeevan Labh 936 Brochure PDF Download page link. This link is official download link page of LICIndia of Life Insurance Corporation of India (LIC).

Documents Required for LIC Jeevan Labh Plan

To apply for the LIC Jeevan Labh Plan, you will need to provide the following documents:

Proposal form	You will need to fill out the proposal form provided by LIC, which includes your personal details such as name, age, address, and occupation.
Identity proof	You will need to submit a valid proof of identity such as Aadhaar card, PAN card, Voter ID card, Passport, etc.
Age proof	You will need to provide a proof of your age. You can submit any of the following documents as age proof: Birth certificate, Passport, PAN card, Aadhaar card, Voter ID card, School leaving certificate, etc.
Address proof	You will need to submit a valid proof of your address. You can submit any of the following documents as address proof: Aadhaar card, Voter ID card, Passport, Driving license, Bank statement, Electricity bill, Telephone bill, etc.
Income proof	You may need to submit income proof documents such as salary slips, Form 16, IT returns, or any other document as requested by LIC.
Medical reports	Depending on the sum assured and your age, you may need to undergo a medical examination or provide a medical report from a doctor.
Photograph	You will need to provide a recent passport-sized photograph.

It is important to note that these are the general documents required for LIC Jeevan Labh Plan, and additional documents may be required based on individual circumstances. It is always recommended to check with the LIC agent or branch office for a complete list of documents required.

LIC Jeevan Labh Benefits

LIC Jeevan Labh Plan is a popular endowment plan offered by Life Insurance Corporation (LIC) of India. The LIC Jeevan Labh Plan is a good investment option for those looking for guaranteed returns along with life insurance coverage.

This plan (plan no 936 lic) comes with a host of benefits, some of which are:

1. Guaranteed returns: The policy offers a guaranteed sum assured along with bonuses, which are paid out at the end of the policy term.
2. Maturity benefits: The plan provides a lump-sum payout on maturity, which includes the guaranteed sum assured and the accumulated bonuses.
3. Death benefits: In case of the policyholder’s unfortunate demise during the policy term, the nominee receives the sum assured along with any accrued bonuses.
4. Tax benefits: The premiums paid towards the policy are eligible for tax deductions under Section 80C of the Income Tax Act, and the maturity or death benefits are tax-free under Section 10(10D).
5. Flexibility: The plan offers the option to choose the policy term and premium payment frequency as per the policyholder’s convenience.
6. Loan facility: The policyholder can avail a loan against the policy after the completion of three years of the policy term.
7. Bonuses: The policy offers reversionary and terminal bonuses, which are added to the sum assured and paid out on maturity or death.
8. Limited premium payment term: The plan comes with a limited premium payment term, which means the policyholder only needs to pay premiums for a fixed duration. This makes it easier for policyholders to plan their finances.
9. High sum assured rebate: The plan offers a high sum assured rebate, which means policyholders who opt for a higher sum assured are eligible for a lower premium rate.
10. Surrender value: The policyholder can surrender the policy after paying the premiums for at least three years. The surrender value is calculated as a percentage of the total premiums paid.
11. Inflation protection: The plan offers inflation protection through bonuses, which increase over time and provide an additional payout on maturity or death.
12. Bonus options: The policyholder can choose to receive the bonuses as cash payouts or reinvest them in the policy to increase the sum assured.
13. No medical tests: The plan does not require the policyholder to undergo any medical tests if the sum assured is within a certain limit.
14. Multiple premium payment modes: Policyholders can choose to pay premiums monthly, quarterly, half-yearly or annually, depending on their preference.
15. Grace period: The plan offers a grace period of one month for annual, half-yearly and quarterly premium payment modes, and 15 days for monthly payment modes. This allows policyholders some leeway if they are unable to pay the premium on the due date.
16. Loan protection: The policyholder can opt for an additional rider to cover the loan amount in case of their demise. This provides additional security to the policyholder’s family.
17. Death claim settlement: The policy offers a streamlined and hassle-free death claim settlement process to the nominee, which can help ease the financial burden in case of the policyholder’s untimely demise.
18. Loyalty addition: The plan also offers a loyalty addition, which is a bonus paid out to policyholders who hold the policy for a certain number of years. This provides an additional boost to the policyholder’s savings.
19. Rebate for female policyholders: Female policyholders are eligible for a premium discount of 5% on the basic premium rate, which can help reduce the overall cost of the policy.
20. Accidental death and disability benefit rider: Policyholders can opt for an additional rider that provides coverage for accidental death and disability. This provides extra financial security in case of unforeseen events.
21. High entry age: The plan allows policyholders to join up to the age of 59 years, which makes it accessible to a wide range of individuals.
22. Long policy term: The policy term for the LIC Jeevan Labh Plan can be as long as 25 years, which provides ample time for policyholders to save for their long-term goals.
23. No premium payment during the extended life cover period: The plan offers an extended life cover period after the policy term ends, during which the policyholder is not required to pay any premiums. However, the policy continues to provide life insurance coverage.
24. No medical examination for policyholders up to 50 years of age: Policyholders who are under the age of 50 and have opted for a sum assured up to a certain limit are not required to undergo a medical examination.
25. Maturity date can be chosen: Policyholders can choose the date of maturity of the policy based on their convenience and financial goals.

LIC Jeevan Labh 836 Tax Benefits

Under this plan, the policyholder pays premiums for a limited period and receives a lump sum amount at the end of the policy term along with bonuses.

One of the main benefits of LIC Jeevan Labh is that it offers tax benefits to the policyholder under Section 80C and Section 10(10D) of the Income Tax Act, 1961. Here are the tax benefits of LIC Jeevan Labh:

1. Tax benefits on premiums paid: The premiums paid towards the policy are eligible for tax deduction under Section 80C of the Income Tax Act up to a maximum limit of Rs. 1.5 lakhs per year. This means that the policyholder can claim tax benefits on the premium paid towards the policy.
2. Tax benefits on maturity proceeds: The maturity proceeds of the policy are tax-free under Section 10(10D) of the Income Tax Act. This means that the lump sum amount received by the policyholder at the end of the policy term, along with any bonuses, is exempt from tax.

It is important to note that tax laws are subject to change from time to time, so it is advisable to consult a tax expert to know the latest tax benefits and rules applicable to LIC Jeevan Labh policy.

LIC Jeevan Labh Rate of Interest

LIC Jeevan Labh Rate of Interest: As for the rate of interest, it’s important to note that the returns on the policy are not fixed and vary based on the performance of the with-profits fund. The returns earned on the with-profits fund are then distributed to policyholders as bonuses.

The rate of bonus for LIC Jeevan Labh policy is declared annually by the LIC and is a percentage of the sum assured. The bonus rate may vary from year to year and is not guaranteed.

Therefore, it’s not possible to provide a fixed rate of interest for LIC Jeevan Labh policy. The actual returns earned by the policyholder depend on various factors such as the bonus rate, the performance of the with-profits fund, the premium amount, and the policy term.

LIC Jeevan Labh Minimum Premium

The minimum premium for the LIC Jeevan Labh 936 plan depends on various factors such as age, sum assured, policy term, and premium payment frequency.

The minimum annual premium for LIC Jeevan Labh is Rs. 834. However, please note that premium rates are subject to change, and the actual premium for your policy may differ based on your specific circumstances.

It is recommended that you contact your nearest LIC branch or agent to get the most up-to-date information on premium rates and to calculate the premium for your specific policy.

Losses under LIC Jeevan Labh Plan

Under this plan, the policyholder pays premiums for a specific period of time and receives guaranteed benefits in the form of a lump sum payment at the end of the policy term or a combination of guaranteed and vested bonuses.

The benefits and losses under the LIC Jeevan Labh Plan depend on various factors such as the age and health of the policyholder, the premium amount, the policy term, and the sum assured.

Here are some potential scenarios for losses under the LIC Jeevan Labh Plan:

1. Surrendering the policy before the completion of the policy term: If the policyholder surrenders the policy before the completion of the policy term, he or she may receive a surrender value, which is a percentage of the premiums paid. However, the surrender value may be less than the total premiums paid, resulting in a loss.
2. Non-payment of premiums: If the policyholder fails to pay premiums on time, the policy may lapse, resulting in the loss of all benefits and premiums paid.
3. Lower than expected returns: While the LIC Jeevan Labh Plan offers guaranteed benefits, the returns may be lower than expected, depending on market conditions and the performance of the insurance company’s investments.
4. Inadequate sum assured: If the sum assured is not adequate to meet the financial needs of the policyholder and his or her family, the benefits received may not be sufficient, resulting in a loss.
5. Death of the policyholder during the policy term: If the policyholder dies during the policy term, the sum assured and any bonuses accrued up to that point are paid to the nominee. However, if the sum assured is not adequate, the family may face financial difficulties, resulting in a loss.

It is important for the policyholder to carefully consider their financial goals and needs before investing in any insurance plan, and to consult with a financial advisor if necessary.

LIC Jeevan Labh Policy Riders

Riders are additional benefits that can be added to the base policy to enhance its coverage. LIC Jeevan Labh offers two riders, which are as follows:

1. Accidental Death and Disability Benefit Rider: This rider provides an additional amount equal to the rider sum assured in case of the policyholder’s accidental death or disability.
2. New Term Assurance Rider: This rider provides an additional sum assured in case of the policyholder’s unfortunate demise during the policy term.

It’s important to note that riders come at an additional cost and can only be availed by paying an extra premium along with the base premium of the policy. The premium for the riders depends on the age, sum assured, and term of the policy, and the rider benefits are paid in addition to the base policy benefits.

Policy Exclusions of LIC Jeevan Labh

Like any insurance policy, LIC Jeevan Labh has certain exclusions, which are situations or circumstances in which the policy benefits will not be paid out. Some of the key policy exclusions of LIC Jeevan Labh are:

1. Suicide Exclusion: If the policyholder dies by suicide within 12 months of the policy commencement date, the nominee or beneficiary will receive only 80% of the premiums paid, and not the full death benefit.
2. Exclusion for Intentional Acts: If the policyholder dies as a result of participation in any criminal or illegal activity, the policy benefits will not be paid out.
3. Exclusion for Dangerous Occupations: If the policyholder works in a high-risk occupation or engages in hazardous activities such as mining, racing, aviation, etc., and dies as a result of these activities, the policy benefits will not be paid out.
4. Exclusion for Pre-existing Conditions: If the policyholder has a pre-existing medical condition at the time of purchasing the policy and dies as a result of the same condition, the policy benefits will not be paid out.
5. Exclusion for Non-disclosure of Information: If the policyholder fails to disclose any material information at the time of purchasing the policy or provides false information, and dies as a result of that undisclosed or false information, the policy benefits will not be paid out.

LIC Jeevan Labh Plan Surrender Value

LIC Jeevan Labh Plan is a traditional, non-linked, with-profit endowment plan that provides both insurance coverage and savings benefits. The plan has a minimum policy term of 16 years and a maximum term of 25 years.

If you wish to surrender your LIC Jeevan Labh Plan, the amount of money you will receive will depend on the number of premiums you have paid, the policy term, and the surrender value factor as determined by LIC.

The surrender value of LIC Jeevan Labh Plan is calculated as a percentage of the total premium paid, excluding the premium paid for the first year and any additional premium paid for riders or extra benefits.

The percentage of the premium paid for surrender value is determined by the policy term and the number of premiums paid. The longer the policy term and the more premiums you have paid, the higher the percentage of the premium paid will be considered for the surrender value.

To get the exact surrender value of your LIC Jeevan Labh Plan, you can contact the nearest LIC branch or visit the LIC website and provide your policy details to get the surrender value. It is important to note that the surrender value of the policy is generally lower than the total premiums paid, and there may be surrender charges and tax implications.

LIC Jeevan Labh Calculator

To calculate the premium and maturity benefits for LIC Jeevan Labh plan, you can use the LIC Jeevan Labh Calculator. Here’s how you can use the calculator:

1. Visit the LIC website (https://www.licindia.in/) and click on the ‘Online Services’ tab.
2. Click on ‘Premium Calculator’ and select ‘LIC Jeevan Labh’ from the dropdown menu.
3. Enter your personal details such as name, age, sum assured, policy term, premium paying term, etc.
4. The calculator will then display the premium payable and the estimated maturity benefits.

Alternatively, you can use a third-party LIC Jeevan Labh calculator available on various financial websites to calculate the premium and maturity benefits. However, it’s always advisable to check the results with an LIC agent or representative to ensure accuracy.

LIC Jeevan Labh Premium Chart

The premium for this plan depends on various factors such as age, sum assured, and policy term. Below is the premium chart showing excluding taxes.

Here is an approximate premium chart for a non-smoker male with a policy term of 25, premium paying term of 16 years and sum assured of Rs. 5 lakhs:

Age (in years)	Yearly Premium (in Rs.)
18	22,516
19	22,541
20	22,541
21	22,565
22	22,565
23	22,590
24	22,614
25	22,639
26	22,663
27	22,712
28	22,737
29	22,786
30	22,859
31	22,908
32	22,982
33	23,055
34	23,153
35	23,251
36	23,374
37	23,521
38	23,643
39	23,815
40	23,986
41	24,182
42	24,403
43	24,648
44	24,893
45	25.162
46	25,456
47	25,775
48	26,118
49	26,485
50	26,877

Please note that the above premium chart is indicative and subject to change. The actual premium for a LIC Jeevan Labh policy will depend on several factors, and you can get an accurate quote by contacting your nearest LIC branch or an LIC agent.

Jeevan Labh Benefit Illustration

The policy offers a combination of protection and savings benefits to the policyholder. Let’s take a look at the benefits of Jeevan Labh with the help of an illustration:

Assumptions:

• Age: 30 years
• Policy Term: 21 years
• Sum Assured: Rs. 10,00,000/-
• Premium Payment Term: 16 years
• Premium: Rs. 50,000/- annually
• Mode of payment: Yearly

Benefits:

Death Benefit: In the unfortunate event of the policyholder’s demise during the policy term, the nominee will receive the following benefits:

1. Sum Assured on Death: The nominee will receive the death benefit which is the higher of the following: i. Basic Sum Assured, ii. 10 times of annualized premium, iii. 105% of all the premiums paid till the date of death. In this case, the Sum Assured on Death will be Rs. 10,00,000/-
2. Simple Reversionary Bonus: The policy also participates in the profits of the corporation in the form of Simple Reversionary Bonuses (SRB). These bonuses are declared every year and are added to the policy from the end of the first policy year. The bonus is payable along with the death benefit.
3. Final Additional Bonus: In addition to the Sum Assured and the Simple Reversionary Bonus, the policy also offers Final Additional Bonus (FAB) which is a one-time lump sum bonus payable on death. The FAB is paid if death occurs during the last year of the policy or if the policy has been in force for at least 15 years.

Maturity Benefit: If the policyholder survives till the end of the policy term, he or she will receive the following benefits:

1. Basic Sum Assured: On maturity, the policyholder will receive the Basic Sum Assured which is Rs. 10,00,000/-
2. Simple Reversionary Bonus: The policy also participates in the profits of the corporation in the form of Simple Reversionary Bonuses (SRB). These bonuses are declared every year and are added to the policy from the end of the first policy year. The bonus is payable along with the maturity benefit.
3. Final Additional Bonus: In addition to the Basic Sum Assured and the Simple Reversionary Bonus, the policy also offers Final Additional Bonus (FAB) which is a one-time lump sum bonus payable on maturity. The FAB is paid if the policy has been in force for at least 15 years.

In this case, assuming a total bonus of Rs. 2,00,000/- over the policy term, the maturity benefit payable to the policyholder will be:

= Basic Sum Assured + Total Bonus
= Rs. 10,00,000 + Rs. 2,00,000
= Rs. 12,00,000/-

Jeevan Labh is a good life insurance plan that offers both protection and savings benefits to the policyholder. The policy offers a comprehensive death benefit and a good maturity benefit, which makes it a suitable plan for individuals looking to secure their future financially.

How to Buy LIC Jeevan Labh Policy

If you are interested in buying the LIC Jeevan Labh policy, you can follow these steps:

1. Visit the LIC website or visit your nearest LIC branch.
2. Go to the “Buy Policy” section and choose the “Jeevan Labh” policy option.
3. Enter your personal details such as name, age, address, and contact information.
4. Choose the policy term and sum assured amount as per your requirement.
5. Fill in the required medical and lifestyle details in the proposal form.
6. Read and understand the terms and conditions of the policy carefully.
7. Choose the premium payment mode and frequency as per your convenience.
8. Submit the proposal form along with the necessary documents such as age proof, address proof, identity proof, and income proof.
9. Make the payment of the premium amount online or offline as per your convenience.
10. After successful payment and verification of your documents, the policy will be issued to you.

It is always recommended to read the policy brochure and understand the features and benefits of the policy before making the purchase. You can also consult an LIC agent or financial advisor for more information and guidance.

How to Apply Loan Against LIC Jeevan Labh Policy

To apply for a loan against your LIC Jeevan Labh Policy, you can follow the steps given below:

1. Check your policy: First, you need to check your policy to see if it is eligible for a loan. Most LIC policies become eligible for a loan after they have acquired a surrender value, which is usually after a certain number of years have passed since you purchased the policy.
2. Calculate your loan amount: You can calculate the maximum loan amount you can get by multiplying the surrender value of your policy by the maximum loan percentage allowed by LIC. The maximum loan percentage can vary depending on the policy and its terms and conditions.
3. Contact LIC: Once you have calculated the maximum loan amount, you can contact your nearest LIC branch or your insurance agent to apply for the loan. They will provide you with the loan application form and guide you through the process.
4. Submit the application: Fill out the loan application form and submit it along with the required documents, such as your policy document, proof of identity, and proof of address.
5. Approval: After you have submitted the application, LIC will verify your documents and evaluate your policy to determine the loan amount you are eligible for. Once approved, the loan amount will be credited to your bank account.
6. Repayment: You will need to repay the loan amount with interest within the stipulated period. The interest rate may vary depending on the policy terms and conditions.

It is important to remember that taking a loan against your LIC Jeevan Labh Policy reduces the death benefit payable to your nominee in the event of your untimely demise. Therefore, it is important to weigh the benefits and risks of taking a loan against your policy before applying for one.

How to Surrender LIC Jeevan Labh Policy

To surrender a LIC Jeevan Labh policy, you will need to follow these steps:

1. Visit the nearest LIC branch office or contact your LIC agent.
2. Submit a written application for surrendering your LIC Jeevan Labh policy. You can get the surrender form from the LIC office or download it from the LIC website.
3. Along with the surrender form, you will also need to submit the original policy document, a copy of your ID proof, and bank account details for receiving the surrender value.
4. Once the documents are submitted, LIC will verify the details and calculate the surrender value of your policy. The surrender value is the amount that LIC will pay you for surrendering your policy.
5. After the surrender value is calculated, LIC will process the surrender and transfer the amount to your bank account.

Note that surrendering a policy before the completion of the policy term may result in a loss of the benefits that you would have received if you had continued the policy till maturity. Additionally, the surrender value of the policy may be less than the premiums paid, especially in the early years of the policy. Therefore, it is important to carefully consider your decision to surrender the policy and consult with your LIC agent or financial advisor before taking any action.

LIC Jeevan Labh Online Payment

To make an online payment for LIC Jeevan Labh, you can follow these steps:

1. Visit the official website of LIC India: https://www.licindia.in/
2. Click on the “Pay Premium Online” option on the home page.
3. Select the “Registered User” option if you have already registered, or “New User” if you are a first-time user.
4. Enter your login details and click on “Submit”.
5. Select the policy for which you want to make the payment.
6. Enter the premium amount and select the payment mode (credit card/debit card/net banking).
7. Click on “Proceed to Payment” and follow the instructions to complete the payment process.

Alternatively, you can also make the payment through the LIC mobile app or by visiting the nearest LIC branch office.

The Conclusion

Overall, LIC Jeevan Labh Plan is a good investment option for individuals looking for a secure and guaranteed return on their investment, along with life insurance coverage. However, the returns from this plan may not be as high as market-linked investment options like mutual funds or stocks. It is important to thoroughly understand the terms and conditions of the plan and assess one’s financial goals before investing in it.

Relevant Links:

LIC Plans	LIC Services
Jeevan Labh →	Link PAN to LIC →
Jeevan Azad →	Change Mobile No. →
Single Premium →	LIC KYC Update →