When it comes to securing your family’s financial future while also saving money in a safe and profitable way, LIC’s Jeevan Labh Plan 836 stands out as a reliable option. But how can you understand the premium you need to pay or the maturity amount you will receive? This is where the LIC Jeevan Labh Plan 836 Calculator comes in handy. In this article, you will discover everything about this plan and how to use the calculator to estimate your benefits effectively.

What is LIC Jeevan Labh Plan 836?

LIC Jeevan Labh Plan 836 is a non-linked, with-profits, limited premium endowment plan provided by the Life Insurance Corporation of India (LIC). It combines the benefits of life insurance protection with the opportunity to accumulate savings for the long term. The policyholders pay premiums for a limited number of years, yet enjoy lifelong coverage until the policy term ends.

This plan is perfect for individuals who want to secure their family financially in case of unforeseen events and also accumulate a lump sum amount for future goals such as education, marriage, or retirement.

Key Features of LIC Jeevan Labh Plan 836

• Limited Premium Payment Term: Premiums are paid for only 10, 15, or 16 years depending on the policy term you choose (16, 21, or 25 years, respectively).
• Maturity Benefit: At the end of the policy term, you receive the sum assured along with bonuses declared by LIC during the policy term.
• Death Benefit: In case of the policyholder’s untimely death during the policy term, the nominee receives the higher of the sum assured or 10 times the annual premium, plus accrued bonuses.
• Bonus: The plan offers Simple Reversionary Bonuses annually, plus a Final Additional Bonus at maturity, enhancing the final payout.
• Loan Facility: You can avail of loans after completing 3 full years of premium payments, providing liquidity in emergencies.
• Riders Available: Optional riders such as the Accidental Death and Disability Benefit Rider and the New Term Assurance Rider can be added for extra protection.
• Tax Benefits: Premiums paid and maturity benefits are eligible for tax deductions under Section 80C and exemption under Section 10(10D) of the Income Tax Act.

Understanding the Policy Terms

You can select policy term options of 16, 21, or 25 years, based on your financial goals and premium-paying capacity. For example:

Policy Term	Premium Paying Term
16 years	10 years
21 years	15 years
25 years	16 years

This means if you choose a 21-year policy term, you pay premiums for only 15 years but enjoy coverage and bonuses for the full 21 years.

How Does the LIC Jeevan Labh 836 Calculator Work?

Calculating the premiums, bonuses, and maturity amount manually can be complex. The LIC Jeevan Labh 836 Calculator makes it simple by requiring you to input essential details such as your age, sum assured, policy term, and premium paying term. The calculator then estimates:

• The annual or monthly premium you need to pay.
• The maturity amount you can expect at the end of the policy term.
• The bonuses accrued over the years.
• The death benefit amount payable to nominees.

This tool helps you make an informed decision by showing you the financial commitment and returns before purchasing the policy.

How to Use LIC Jeevan Labh Plan 836 Calculator?

Here is a simple step-by-step guide:

1. Enter Your Age: The entry age for this policy can range from 8 to 59 years depending on the policy term.
2. Choose the Sum Assured: Decide the minimum guaranteed amount you want for life cover and maturity. The minimum sum assured is generally ₹2,00,000.
3. Select Policy Term and Premium Paying Term: Choose the policy duration (16, 21, or 25 years) and corresponding premium paying term (10, 15, or 16 years).
4. Input Additional Riders (Optional): If you want added protection through riders, include them in the calculation.
5. Calculate: The tool will compute your premium amount and project your maturity benefits, including bonuses.

Example Calculation Using LIC Jeevan Labh Plan 836 Calculator

Suppose a 30-year-old invests in this plan with:

• Sum Assured: ₹5,00,000
• Policy Term: 21 years
• Premium Paying Term: 15 years

The approximate details would be:

• Annual Premium: Around ₹25,000 (may vary based on exact conditions)
• Total Premium Paid: ₹3,75,000 over 15 years
• Expected Maturity Amount: ₹7,50,000 to ₹8,50,000 including bonuses

This example highlights the plan’s potential of doubling your investment while providing life cover.

Benefits of LIC Jeevan Labh Plan 836

• Dual Benefit: Combines life protection and savings in a single plan.
• Limited Premium Duration: Pay premiums for less time yet enjoy long-term coverage.
• High Bonuses: Eligible for simple reversionary bonuses and final additional bonuses, which can significantly increase returns.
• Loan Support: Access loans post 3 years for unforeseen expenses.
• Tax Savings: Enjoy deductions on premiums and tax-free maturity under specified tax laws.
• Riders for Extra Coverage: Flexibility to add riders for accidents, disability, and term assurance protection.

Important Points to Remember

• The policy covers you for the entire policy term even though premium payment is limited.
• Death benefit ensures your family’s financial security.
• Bonuses add to the maturity value but are not guaranteed and depend on LIC’s performance.
• Loans can be taken but affect the surrender and maturity amounts if unpaid.
• A grace period is allowed for premium payments (15 days for monthly, 30 days for other modes).

How to Maximize Benefits from LIC Jeevan Labh Plan 836?

• Choose a sum assured that balances your family’s needs and your budget.
• Opt for riders only if essential to keep premiums manageable.
• Pay premiums regularly without interruptions to avoid policy lapse.
• Monitor declared bonuses by LIC annually to stay informed about your policy’s growth.

FAQ About LIC Jeevan Labh Plan 836 Calculator

Conclusion

LIC Jeevan Labh Plan 836 offers a balanced mix of insurance protection and wealth accumulation with a limited premium paying term. Using the LIC Jeevan Labh Plan 836 Calculator helps you understand how much you need to invest and what returns you can expect over time. This plan is especially suitable for those seeking guaranteed returns with low risk and security for their family’s future.