LIC Jeevan Labh Plan 936 Calculator
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LIC Jeevan Labh Plan 936 - Key Features
| Feature | Details |
|---|---|
| Entry Age | 8-59 Years |
| Policy Terms | 16, 21, 25 Years |
| Premium Paying Terms | 10, 15, 16 Years respectively |
| Maximum Age at Maturity | 75 Years |
| Minimum Sum Assured | ₹2,00,000 |
| Maximum Sum Assured | No Limit |
| Maturity Benefit | Basic Sum Assured + Accumulated Bonus + Final Additional Bonus |
| Death Benefit | Higher of Basic Sum Assured or 7 times Annual Premium + Bonuses |
Important Disclaimer
Note: The calculations shown are approximate and for illustration purposes only. Actual premiums and maturity amounts may vary based on LIC's current rates, bonus declarations, and other factors.
Bonus: The maturity calculation includes estimated bonus based on historical rates. Actual bonus rates are declared by LIC annually and may differ from projections.
Tax Benefits: Premiums paid are eligible for tax deduction under Section 80C, and maturity proceeds are tax-free under Section 10(10D) of the Income Tax Act, subject to conditions.
Recommendation: Please consult with a LIC agent or visit the nearest LIC branch for exact premium quotes and policy details.
LIC Jeevan Labh 936 is a unique limited premium endowment plan offered by Life Insurance Corporation (LIC) of India, designed to provide both savings and insurance protection in a simple, customer-friendly manner. This article offers a detailed guide to the LIC Jeevan Labh 936 Calculator, policy features, benefits, premium and maturity calculation methods, and answers to frequently asked questions—making it easy for any reader to understand and use this powerful calculator.
Introduction
LIC Jeevan Labh (Table No. 936) is a non-linked, with-profit plan. It allows policyholders to pay premiums for a limited period and receive comprehensive benefits at maturity or in case of exigencies like death. The plan offers financial security, competitive returns, and tax advantages, making it popular for families planning long-term financial goals.
What is LIC Jeevan Labh 936 Calculator?
The LIC Jeevan Labh 936 Calculator is a simple online tool that allows users to estimate the premium, maturity benefit, bonus accumulation, and insurance coverage for their LIC Jeevan Labh policy. Using basic inputs—such as age, policy term, premium paying term, and sum assured—the calculator delivers quick and accurate results, helping policyholders plan smartly for the future.
Why use the calculator?
- Easy premium estimation
- Quick maturity calculation
- Year-wise insurance cover overview
- Bonus and additional rider details
Key Features of LIC Jeevan Labh 936
LIC Jeevan Labh stands out for its flexible premium-paying periods and robust insurance coverage.
| Feature | Details |
|---|---|
| Policy Term | 16, 21, 25 years |
| Premium Paying Term | 10, 15, 16 years |
| Minimum Sum Assured | ₹2,00,000 |
| Maximum Sum Assured | No limit |
| Eligibility Age | 8 years (entry), up to 59 years |
| Loan Facility | After paying 3 years’ premiums |
| Riders Available | Accidental, disability, term, critical illness |
| Bonus | Simple Reversionary + Final Addition |
| Death Benefit | Higher of sum assured OR 7 times premium |
| Maturity Benefit | Sum Assured + Bonuses + Final Additions |
How Does LIC Jeevan Labh 936 Work?
LIC Jeevan Labh’s premium is determined by:
- Term of policy (longer term, lower annual premium)
- Sum assured (higher sum, higher premium)
- Age of insured (higher age, higher premium)
Policyholders pay premiums for a limited time (10/15/16 years) and enjoy coverage throughout the full policy term (16/21/25 years). At maturity, the lump sum payout includes the sum assured and accumulated bonuses. In case of death during the policy tenure, nominees receive a death benefit plus accrued bonuses.
Steps to Use the LIC Jeevan Labh 936 Calculator
Using the calculator is straightforward and can be completed in minutes:
- Visit the official calculator page (Insurance21, bimapremiumcalculator, PolicyBazaar).
- Enter Age at time of policy purchase.
- Choose Policy Term: 16, 21, or 25 years.
- Select Premium Paying Term: 10, 15, or 16 years.
- Input the Desired Sum Assured.
- Click Calculate: The calculator displays premium obligation, maturity benefits, year-wise cover, and bonuses.
Understanding Premium Calculation
LIC Jeevan Labh premium payment is designed for easy budgeting:
- Premium Modes: Yearly, Half-Yearly, Quarterly, Monthly
- Limited Pay: Only pay premiums for a fixed period, while coverage continues.
- Rebates and Discounts: Available for higher sums assured and yearly payment mode.
Example: For a ₹10 lakh Sum Assured for a 16-year term, the calculator computes the annual premium required, including rider options based on age and term.
Maturity Calculation & Benefits
Maturity Benefits
- Upon term completion, the policyholder receives:
- Basic Sum Assured
- Accumulated Simple Reversionary Bonus
- Final Additional Bonus (FAB)—if applicable
Bonus: The bonus is declared by LIC each year and added to the policy, paid out as a lump sum at maturity.
Death Benefits
If the insured passes away during the policy term:
- The nominee receives:
- Higher of the sum assured or 7 times annual premium
- Accrued Bonuses
- Final Additional Bonus (if any)
Sample Calculation Table
| Example | Amount (₹) |
|---|---|
| Sum Assured | 10,00,000 |
| Premium Paid | 8,00,000 (approx.) |
| Final Bonus | Variable (LIC declares) |
| Maturity Amount | 15,00,000 – 20,00,000+ |
Note: Actual numbers depend on sum assured, age, premium term, and LIC’s declared bonuses.
Riders and Additional Benefits
Accidental Death & Disability Rider
- Grants added cover in case of accidental death.
- Waives future premium on permanent disability.
- Pays the sum assured in installments over 10 years in case of disability.
Term Assurance Rider
- On extra payment, offers an extra sum assured on death.
- No maturity value for the rider itself if the policyholder survives.
Loan Facility
- Available after paying 3 years of premiums.
- Useful for emergency needs without policy surrender.
Tax Benefits
LIC Jeevan Labh 936 offers substantial tax advantages:
- Section 80C: Premiums paid are eligible for deduction.
- Section 10(10D): The maturity amount is fully tax-free if conditions are met.
- Death/maturity proceeds remain tax exempt if the death benefit is at least 7x the annualized premium (confirmed by most calculators for standard policies).
Eligibility Criteria
Minimum Age at Entry: 8 years
Maximum Age at Entry: Up to 59 years (may vary by term)
Maximum Maturity Age: 75 years
Sum Assured: Minimum ₹2 lakh | No maximum limit
Premium Paying Term Choices: 10/15/16 years
Policy Term Choices: 16/21/25 years
Advantages of LIC Jeevan Labh 936
- Limited premium payment with long-term coverage
- Attractive maturity return compared to total premium paid
- High coverage at low premium rates
- Optional riders for comprehensive protection
- Simple online calculators for planning
- Loan facility for liquidity
- Tax-free maturity and death benefits
- Widely trusted brand: LIC of India
Limitations and Considerations
- Premiums must be paid regularly; lapses may reduce benefits.
- Bonus rates are not guaranteed and depend on LIC’s performance.
- No market-linked returns (low risk, moderate reward)
- Only single lump-sum payout at maturity—no regular income
- Withdrawal before term may result in lower payout (paid-up values).
Practical Scenarios Using LIC Jeevan Labh 936 Calculator
Example Scenario 1:
- Age: 35 years
- Sum Assured: ₹5,00,000
- Policy Term: 25 years
- Premium Paying Term: 16 years
Calculator estimates show the total premium paid would be around ₹3,50,000. Maturity payout after 25 years could be ₹8,00,000+ (depending on bonus and final additions).
Example Scenario 2:
- Age: 45 years
- Sum Assured: ₹10,00,000
- Policy Term: 21 years
- Premium Paying Term: 15 years
Calculator reveals: Premiums ~₹7,00,000 in total; the maturity payout could be ~₹15,00,000.
Jeevan Labh 936: Who Should Use It?
This plan is ideal for:
- Families seeking savings and life protection
- Individuals with regular income streams
- Those planning for long-term goals (retirement, children’s education)
- Risk-averse investors wanting assured returns
- Anyone looking for tax savings under Sections 80C and 10(10D).
Application and Buying Process
How To Buy:
- Consult a trusted LIC agent or visit the nearest LIC office.
- Explore online calculators and compare other plans too.
- Fill the proposal form and submit the required documents.
- Choose a sum assured, a premium paying term, riders, and a nominee.
- Complete medical and KYC requirements.
The online purchase option for Jeevan Labh 936 was not available; check with LIC for the latest digital options or revised plan numbers.
Additional Tips for Maximizing Benefits
- Pay premiums on time for full coverage and bonus accrual.
- Review eligibility and select PPT that fits financial goals.
- Explore available riders for added security (accident, disability, critical illness).
- Check for rebates and discounts on yearly premium payments.
- Compare with other endowment plans offered by LIC or competitors.
Frequently Asked Questions
What is LIC Jeevan Labh 936?
LIC Jeevan Labh 936 is a limited premium endowment plan from LIC that combines savings and protection, offering benefits like maturity amount, bonuses, and death benefits to the policyholder and their family.
Who can buy LIC Jeevan Labh 936?
Any individual aged 8 years or older can purchase this policy, but the entry age limits depend on the chosen policy term: up to 59 years for 16-year term, 54 years for 21-year term, and 50 years for 25-year term.
What is the premium paying term in Jeevan Labh 936?
The plan offers limited premium payment options of 10, 15, or 16 years, while the policy cover lasts for 16, 21, or 25 years, respectively.
Can I get a loan against the Jeevan Labh 936 policy?
Yes, policyholders who have paid premiums for three full years can avail of a loan against the surrender value of their policy.
Is Jeevan Labh 936 linked to the stock market?
No, it is a non-linked plan, so returns and benefits are not affected by market fluctuations.
What tax benefits are available in Jeevan Labh 936?
Premiums paid qualify for deduction under Section 80C, and the maturity and death proceeds are generally tax-free under Section 10(10D) of the Income Tax Act.
Are there special riders available with Jeevan Labh 936?
Yes, optional riders such as Accidental Death and Disability Benefit, Premium Waiver, and Critical Illness Rider can be added for extra protection.
Conclusion
LIC Jeevan Labh 936 remains an excellent choice for individuals and families seeking reliable insurance coverage with assured savings, competitive bonuses, flexibility in premium payments, and substantial tax benefits. The official calculator simplifies decision-making, letting anyone plan wisely for their future. Explore all available sources and consult with experts to make an informed choice, ensuring lasting financial security and peace of mind with LIC Jeevan Labh 936.