Discover about LIC Jeevan Labh Plan 836 Details, Premium Calculation, and Plan Benefits at PrimeNewsly.
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Life Insurance Corporation of India has emerged as one of the leading insurance companies in the world. It has introduced numerous comprehensive insurance policies benefiting millions of Indians. It has brought policies catering requirements of policyholders from various income brackets and age groups.
The LIC Jeevan Labh Yojana is one of the most popular insurance plans offering several benefits policyholders seek in India. Allowing policyholders to gain rebates on premiums, a share of the profit, and multiple premium paying modes, the Jeevan Labh 836 plan seems pretty beneficial for policyholders. Continue reading to reveal some crucial details about the LIC Jeevan Labh 836 Plan.
Launched on January 4, 2016, the LIC Jeevan Labh Plan 836 is a kind of traditional endowment insurance policy. It offers benefits of protection and savings to the policyholder. The insured person’s family get financial backing from the insurer if he/she unfortunately passes away.
Suppose the policyholder survives during the policy term, the Jeevan Labh policy offers maturity benefits in the form of a lump sum payout. You can choose a 16-year, 21-year, or 25-year policy term according to the amount of payout you wish to receive as a lump sum payment after the maturity of the policy.
The LIC Jeevan Labh Plan 836 benefits include the following:
If the policyholder survives till the maturity date of the policy, he/she gets entitled to the Sum Assured on Maturity of the policy along with the Financial Additional Bonus (if there is any) and Vested Simple Reversionary Bonus. The LIC’s experience is assessed to declare the Simple Reversionary Bonus.
In case of an unfortunate death of the insured person, the nominee of the policyholder receives the Sum Assured on Death along with a Final Additional Bonus (if applicable) and Vested Simple Reversionary Bonus, which can be higher than the Basic Sum Assured or 10 times of yearly premium.
The LIC Jeevan Labh plan 836 details reveal that this policy offers rebates as
Table Premium’s 2% in the yearly mode and 1% of Table Premium in the half-yearly mode.
Rebased according to high Basic Sum Assured are:
1.25% of Basic Sum Assured per 10K rupees of Basic Sum Assured for rupees 5,00,000 to rupees 9,90,000.
1.50% of Basic Sum Assured per 10K rupees of Basic Sum Assured for rupees 5,00,000 to rupees 9,95,000.
1.75% of Basic Sum Assured per 10K rupees of Basic Sum Assured for rupees 15,00,000 and above.
What are the Premium Paying Options and Modes for the LIC Jeevan Labh 836 Plan?
Policy buyers can choose the following premium paying options for the LIC Jeevan Labh plan 836 bonus and benefits:
The Life Insurance Corporation of India offers monthly, quarterly, semi-annual, and annual premium-paying modes for policyholders. You can choose any mode of payment at your convenience.
The LIC Jeevan Labh Plan 836 maturity calculation reveals the maturity amount along with the year-wise and age-wise sum of risk covers. You need to provide information, such as:
Calculate the amount of money you will receive on the maturity of the policy. Contact a licensed LIC agent or use LIC’s official website for the maturity calculation of LIC Jeevan Labh 836 and the recently launched LIC plan.
The LIC Jeevan Labh Plan 836 premium calculation reveals how much premium the policyholder will pay based on the Sum Assured. Suppose a 26-year-old man chooses 5,00,000 rupees Sum Assured and the policy term is 16 years. He will have to pay a rupees 43782 annual premium (including GST) during the first year and a rupees 42840 premium in the 2nd year.
The policy buyer will pay rupees 429340 total premium for a minimum risk cover of 500000 rupees. The maximum risk cover would be approximately 1332500 rupees and the maturity amount will be approximately 856500 rupees. You can use an online tool or take a licensed LIC agent’s help to reveal LIC Jeevan Labh plan 836 bonus details and for premium calculation.
This LIC policy acquires a surrender value if the policyholder has paid premiums for 3 policy years. The Guaranteed Surrender Value will depend on the percentage of premiums paid by the policyholder. It will majorly depend on the policy term the policy buyer chose.
Use the LIC Jeevan Labh Plan 836 surrender value calculator to assess the actual surrender value and other important details in case a person surrenders his/her LIC Jeevan Labh 836 policy.
Many users use the LIC Jeevan Labh plan 836 loan calculator to reveal whether can take a loan against their LIC policy or not. You can apply for a loan if you have paid 3 full years’ premium of the policy.
The loan provider may offer 90% of the surrender value as a loan if the policyholder chooses the in-force policies. The loan provided will offer 80% amount of money of the surrender value for a paid-up policy.
The top 3 LIC plan in 2023 include the following:
It is the best LIC plan to invest in 2023 because provides both investment opportunities and insurance protection. The policyholder gets to choose debt fund and equity options according to risk profile and gain higher returns. The savings policyholders invest in this policy can provide a sizeable return, which can be used for major investments.
It is a popular life insurance policy that offers a unique mix of protection and savings. Its loan facility provides policyholders an option to meet their liquidity requirements. Therefore, many Indians chose the New Jeevan Anand plan in 2023.
LIC has designed this whole-life insurance plan to provide policyholders benefits of income protection. This policy takes care of the policyholder’s family in case of his/her absence. It offers annual survival benefits, which begin at the end of the premium-paying term. The policyholder receives a lump sum amount of money on the maturity of the policy or in case of unfortunate death of the policyholder.
Recenly Launched: The new LIC Jeevan Utsav 871 Plan offers several benefits together. The policyholder gets insurance, pension benefits, and savings in a single plan. It seems targeted toward customers looking for a product offering a stable and secure financial future. The best feature of this plan is Guaranteed Returns.
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A: Yes LIC Jeevan Labh Plan 836 Tax Benefits are provided according to Section 80C and Section 10(10D) of the Income Tax Act, 1961.
A: Choose the LIC Jeevan Labh 836 policy to provide financial backing to your family and stay prepared to take care of the family, even if you aren’t present.
A: Yes, the difference in death benefits makes both policies beneficial for different policyholders.
A: The policyholder can apply for tax deduction under Section 80C and receive up to 1.5 lakh rupees in tax benefits. However, the policy buyer will have to pay for the GST tax.
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Conclusion
The LIC Jeevan Labh Yojna is beneficial for people, who wish to invest in a reliable insurance plan that assures massive returns on maturity. Calculate the premium now and buy the policy from a licensed LIC agent to get all the benefits of the policy.
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