LIC of India’s Jeevan Labh (Plan No. 836) is a limited premium paying, non-linked, with-profit endowment assurance Plan. Unique identification number (UIN) of Jeevan Labh plan is 512N304V01. This policy is available from a child of 8 years old to a person of age 59. The main feature of this plan is a very limited premium payment option, for the 16-year policy term customer have to pay the premium for 10 years and for 21 and 25 years of policy term policyholder have to pay the premium for 15 and 16 years respectively.
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Benefits payable under an inforce policy are:
On the death of the life assured during the term of the policy, the Death Benefit defined as the sum of “Sum Assured on Death” and vested simple reversionary bonuses and Final Additional Bonus, if any, shall be payable.
Where “Sum Assured on Death” is defined as the higher of 10 times of annualized premium or absolute amount assured to be paid on death i.e. Basic Sum Assured.
This death benefit shall not be less than 105% of the total premiums paid as on date of death.
Premium mentioned above will not include any taxes, extra amount chargeable under the policy due to underwriting decision and rider premium if any
On survival to the end of the policy term, “Sum Assured on Maturity” along with vested simple reversionary bonuses and Final Additional bonus, if any, shall be payable. Where Sum Assured on Maturity is equal to Basic Sum Assured (BSA)
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New Jeevan Labh policy. Is my wife aged 59 years eligible?(dob 8 3 56).Policy term.4. states that policy can be taken from back date to current fin year. If so, can it be taken from Jan 2014 by paying two year premium when her age at entry would be 57. Pl inform. If 10L policy is taken what is the annual premium?
Hi, my age is 32. I want to pay lic premium 50000 annually. I want death cover, accidental cover & disability cover. What is the best LIC plan for me. Also pls advise about LIC's child plan. my child age is 3 years.
good plan
good
Please provide LIC’s New Plan Jeevan Labh (Plan no. 836)
calculation