LIC Jeevan Labh Calculator (Plan 936)
Calculate Maturity, Bonus & Premium Instantly
Min: ₹2,00,000
*Editable (Standard: 10, 15, 16)
*Current LIC Bonus Estimate
💰 Maturity Illustration
Total Premium Paid
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Sum Assured
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Vested Bonus
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Final Bonus (FAB)
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Estimated Maturity Value
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(Tax Free u/s 10(10D))
About LIC Jeevan Labh (Plan 936)
LIC Jeevan Labh (Table 936) is a limited premium paying, non-linked, with-profits endowment plan. It is one of the most popular LIC policies because it requires you to pay premiums for a shorter duration (PPT) while offering life cover and bonus accumulation for the full policy term.
📊 Eligibility Conditions & Restrictions
Before purchasing Plan 936, ensure you meet the following criteria set by the Life Insurance Corporation of India:
| Parameter | Requirement |
|---|---|
| Minimum Age | 8 Years (Completed) |
| Maximum Age | 59 Years (for 16yr term), 54 Years (21yr term), 50 Years (25yr term) |
| Max Maturity Age | 75 Years |
| Min Sum Assured | ₹2,00,000 |
| Max Sum Assured | No Limit (Subject to income proof) |
💰 Rebates & Discounts
LIC encourages higher coverage by offering rebates on the tabular premium. Choosing a higher Sum Assured (SA) can lower your premium rate.
- Sum Assured Rebate:
- ₹2L to ₹4.9L: Nil
- ₹5L to ₹9.9L: ₹1.25 per ₹1000 SA
- ₹10L to ₹14.9L: ₹1.50 per ₹1000 SA
- ₹15L & above: ₹1.75 per ₹1000 SA
- Mode Rebate: 2% discount for Yearly mode, 1% for Half-yearly mode.
📌 Key Benefits Explained
- Maturity Benefit: On survival to the end of the term, the policyholder receives Basic Sum Assured + Vested Simple Reversionary Bonuses + Final Additional Bonus (FAB).
- Death Benefit: In case of unfortunate death, the nominee receives the “Sum Assured on Death” (Higher of 7x Annual Premium or Basic SA) plus accrued bonuses.
- Tax Benefits: Premiums paid are eligible for deduction under Section 80C. Maturity amount is tax-free under Section 10(10D).
- Loan Facility: Available after payment of 2 full years’ premiums.
❓ Frequently Asked Questions
Is the maturity amount tax-free?
Yes, the maturity proceeds from LIC Jeevan Labh are fully tax-free under Section 10(10D) of the Income Tax Act, provided the premium paid in any year does not exceed 10% of the Sum Assured.
What is the Premium Paying Term (PPT)?
PPT is the number of years you need to pay the premium. In Plan 936, the PPT is 10 years for a 16-year policy, 15 years for a 21-year policy, and 16 years for a 25-year policy.
What is the “Sum Assured on Death”?
It is defined as the higher of: 7 times of annualized premium OR the Basic Sum Assured. This ensures the family receives a substantial amount in case of the policyholder’s demise.
Does this calculator include FAB?
Yes, this calculator estimates the Final Additional Bonus (FAB) based on the policy term and Sum Assured. FAB is a one-time bonus paid at maturity or death (after 15 years).
Can I surrender the policy before maturity?
Yes, the policy can be surrendered at any time provided two full years’ premiums have been paid. However, surrendering early often results in a financial loss compared to continuing the policy.
What happens if I stop paying premiums?
If less than 2 years’ premiums are paid, the policy lapses with no value. If at least 2 years’ premiums are paid, it becomes a “Paid-up Policy” with reduced benefits.
What are the rider options available?
You can add riders like Accidental Death and Disability Benefit Rider, Term Assurance Rider, and Premium Waiver Benefit Rider for enhanced protection at a nominal extra cost.