LIC Jeevan Labh Plan 736 Calculator

When it comes to securing the financial future of your loved ones while also saving systematically, LIC’s Jeevan Labh Plan 736 is a great option. This limited premium paying endowment plan offered by Life Insurance Corporation of India (LIC) combines insurance protection with long-term savings and bonuses. To help individuals quickly understand the premiums payable and expected benefits of this plan, LIC provides an easy-to-use online tool called the LIC Jeevan Labh Plan 736 Calculator.

What is LIC Jeevan Labh Plan 736?

LIC Jeevan Labh Plan 736 is a non-linked, limited premium-paying endowment plan. That means it provides life insurance protection combined with savings but the plan’s returns are not linked to the stock market or other investment avenues. The premiums are paid for a limited number of years as per the selected policy term, but coverage continues for the full policy duration.

Key highlights of this plan include

• Limited premium paying period of 10, 15, or 16 years depending on policy term
• Flexible policy terms of 16, 21, or 25 years
• Option to get maturity returns as a lump sum at the end of the policy tenure
• Death benefit payable to nominee if the insured dies during the policy
• Participation in profits through Simple Reversionary Bonuses and Final Additional Bonus (FAB)
• Options to add riders like Accidental Death & Disability Benefit for extra protection
• Loan facility against policy after acquiring surrender value
• Flexible premiums payment modes (yearly, half-yearly, quarterly, monthly)

This combination of insurance plus savings, coupled with limited premium payment commitment, has made LIC Jeevan Labh Plan a popular choice among individuals seeking financial security and wealth creation.

Why Use LIC Jeevan Labh Plan 736 Calculator?

Calculating premiums, maturity values, and benefits manually can be complicated given the multiple factors involved—such as age, policy term, sum assured, and bonus rates. The LIC Jeevan Labh Plan 736 calculator is an easy-to-use online tool designed to help policy buyers estimate:

• The premium amount they need to pay
• Expected maturity benefit they will receive if they survive the policy term
• Death benefit payable to nominees in case of untimely death

This tool makes financial planning hassle-free by allowing you to input your age, desired policy term, sum assured, and premium payment term. The calculator then instantly provides premium details and estimated benefits based on the latest declared bonus rates and other plan specifics.

Some benefits of using the LIC Jeevan Labh Plan 736 Calculator are:

• Quick and accurate estimation of premiums and maturity proceeds
• Helps plan your finances by understanding your insurance and savings cost
• Assists in comparing different policy term options and sum assured levels
• No cost involved for using the calculator — it is freely accessible on LIC’s website and other portals.

How to Use LIC Jeevan Labh Plan 736 Calculator?

Using the calculator is very straightforward. Here is a step-by-step guide:

1. Visit the official LIC website or a trusted LIC online calculator portal.
2. Navigate to the Jeevan Labh Plan 736 premium calculator section.
3. Enter your name and age (nearest birthday). The minimum entry age is 8 years; the maximum varies by policy term.
4. Choose the policy term—16, 21, or 25 years.
5. The premium paying term will get auto-selected based on the policy term (10 years for a 16-year policy; 15 years for 21; 16 years for 25).
6. Enter the basic sum assured you want (minimum ₹2,00,000, no upper limit, multiples of ₹10,000).
7. Select optional riders if you want additional cover, such as Accidental Death & Disability or Term Assurance Rider.
8. Click the Calculate button.
9. The calculator will display the annual premium payable and an estimate of maturity benefits, including bonuses and death benefits.

You can modify inputs like sum assured or policy term to see how premiums vary and find the plan best suited to your budget and protection needs.

Key Features of LIC Jeevan Labh Plan 736

Understanding the unique features of this plan helps clarify why it continues to be favored by policy holders.

• Limited Premium Payment: You pay premiums for a limited tenure (10, 15, or 16 years), but coverage and benefits last for up to 25 years depending on your choice. This results in a shorter financial commitment but long-term protection.
• Maturity Benefit: You receive the basic sum assured plus vested simple reversionary bonuses and a final additional bonus (if any) at maturity.
• Death Benefit: If the insured dies during the policy term, the nominee gets the higher of the basic sum assured or 7 times the annualized premium plus bonuses.
• Loan Facility: After acquiring surrender value (usually after one year), policyholders can take loans against the policy.
• Surrender Value: The plan allows surrendering for a guaranteed cash value post specified periods.
• Optional Riders: Add-ons like the Accidental Death & Disability Benefit Rider, Term Assurance Rider, and more enhance the plan’s protection.
• Flexible Premium Payment Mode: Choose yearly, half-yearly, quarterly, or monthly modes as per convenience.
• Tax Benefits: Premiums paid and maturity proceeds enjoy tax advantages under prevailing income tax laws.

Eligibility Criteria for LIC Jeevan Labh Plan 736

To ensure the plan is suitable for you, LIC has some basic eligibility requirements:

If you meet these criteria, you can apply and use the calculator to estimate your premiums and benefits.

Understanding Premium Calculation

The premium is influenced primarily by three factors:

• Age at entry: Younger entrants pay lower premiums because of lower risk.
• Sum Assured: Higher sum assured means higher premium.
• Policy term and premium payment term: Longer premium payment term generally means lower yearly premiums but total premiums depend on chosen policy tenure.

Additionally, LIC offers premium rebates for higher sum assured slabs and for annual or half-yearly premium payments.

Payment frequency rebates:

• Annual: 2% rebate
• Half-yearly: 1% rebate
• Quarterly/Monthly: Nil rebate

These rebates reduce the payable premium and make the plan more economical, especially for large coverage amounts.

Benefits of Using LIC Jeevan Labh Plan 736 Calculator

Using this calculator before buying the policy has multiple advantages:

• Transparent Planning: Get a clear picture of premium commitments and maturity payouts.
• Time-Saving: Quick results compared to manual calculations or agent estimations.
• Comparison: Easily compare premiums and benefits across different policy terms and sum assured.
• Financial Budgeting: Align insurance premiums with your budget and financial goals.
• Informed Decision Making: Understand impact of choosing additional riders or changing the sum assured before purchasing.
• Peace of Mind: Know what to expect from your policy’s returns and benefits.

Other Important Things to Know

• The maturity and death benefits include vested simple reversionary bonuses declared annually by LIC and a final additional bonus, both of which depend on LIC’s performance.
• The minimum death benefit is at least 105% of total premiums paid, ensuring good protection.
• Loans can be taken against the policy after acquiring surrender value, which is available usually after one year.
• The policy has a 30-day free look period, allowing you to review and cancel if terms are unsatisfactory without penalty.
• It is advisable to keep all policy documents safe and read the official sales brochure for detailed terms. The official LIC website has these documents and the embedded calculator tool.

Quick Calculations Example Using the Calculator

For example, suppose Mr. Sanjay, aged 30, wants a sum assured of ₹5,00,000 with a 21-year policy term. Using the LIC Jeevan Labh Plan 736 calculator:

• Policy term = 21 years
• Premium paying term = 15 years (auto-selected)
• Basic sum assured = ₹5,00,000
• Age = 30 years

The calculator will return:

• Annual premium amount payable (including GST)
• Estimated maturity benefit including bonuses
• Death benefit payable to nominee

This instant calculation helps Sanjay plan his finances better and choose the right premium mode (yearly, monthly) and rider options if needed.

Frequently Asked Questions

Conclusion

The LIC Jeevan Labh Plan 736 is an excellent life insurance-cum-savings plan offering limited premium payment with assured life cover and maturity benefits. Using the LIC Jeevan Labh Plan 736 calculator is the most efficient way to understand your premium obligations and expected maturity returns given your age, term preference, and coverage needs.