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LIC's Plans

LIC – India’s no.1 insurance company in distribution, in claim settlement and in market share – offers a range of plans including Term Plans, Endowment Plans, Whole-life Plans, Money-back Plans, Health Plans and more.

LIC's Jeevan Labh

An endowment plan, ideal for protection and savings with moderate premiums and high returns. (Suitable for child education and marriage plan)

LIC’s Jeevan Labh is a limited premium paying, non-linked, with-profits endowment plan which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility. Premium Discount is available for higher Sum Assured.

Policy features and benefits:

  • Policy Term: 16 years| 21 years| 25 years
  • Limited premium paying term: 10 years| 15 years| 16 years
  • Multiple premium payment frequency to choose from
  • On maturity get Sum Assured + Bonus + Final Bonus (if any)
  • Loan is Available any time after 2 policy years.
  • Premium Paid is TAX EXEMPTED u/s 80 C.
  • All returns from the policy are TAX FREE u/s 10 (10) (D)
  • Option to take Maturity and Death Benefit in installments.

Illustration of LIC’s Jeevan Labh (836) – e.g considering Age: 30 years | Policy Term: 25 Years | Premium Paying Term: 16 Years 

Sum AssuredPremiumsMonthlyQuarterlyHalf-YearlyYearlyTotal PaidMaturity Amount
5 Lakhs1st year/ onwards2031/ 19886093/ 596212066/ 1180623888/ 23373₹ 3,74,483₹ 13,50,000
15 Lakhs1st year/ onwards6029/ 589918085/ 1769535805/ 3503470879/ 69353₹ 7,44,879₹ 27,00,000
25 Lakhs1st year/ onwards10048/ 983130142/ 2949359675/ 58390118132/ 115589₹ 18,51,967₹ 67,50,000
50 Lakhs1st year/ onwards20094/ 1966260284/ 58986119349/ 116780236264/ 231177₹ 37,03,919₹ 1,35,00,000
1 Crore1st year/ onwards40189/ 39323120257/ 117971238699/ 233559472528/ 462354₹ 74,07,838₹ 2,70,00,000

Note: Premiums inclusive of GST. Bonus rate assumed at 45/50/50 per thousand per year

Illustration of LIC’s Jeevan Labh (836) – Showing possible returns with varied age, policy term and premium paying term combinations.

AgePolicy TermPremium Paying TermYearly PremiumTotal PremiumSum AssuredEstimated Maturity
3516 years10 years61598615980730000₹ 12,73,850
3521 years15 years39231588465720000₹ 15,48,000
3525 years16 years36272580352780000₹ 21,06,000
4516 years10 years70333703330810000₹ 14,13,450
4521 years15 years43831657465760000₹ 16,34,000
4525 years16 years41769668304830000₹ 22,41,000
5016 years10 years71425714250800000₹ 13,96,000
5021 years15 years47278709170780000₹ 16,77,000
5025 years16 years45153722448840000₹ 22,47,000

Note: Premiums exclusive of GST. Bonus rate assumed at 45/50/50 per thousand per year

LIC's Jeevan Lakshya

LIC’s plan with unique combination of protection and savings (a participating non-linked plan).

LIC’s Jeevan Lakshya plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder. This plan also takes care of liquidity needs through its loan facility. Jeevan Lakshya will financially ensure that your family’s dreams will become a reality, with you or even without you. Save regularly to build a sizeable corpus on maturity. Plan available in a wide range of terms – from 13 to 25. Protection benefits can be enhanced by using riders like Accidental Death & Disability Benefit Rider and Term Rider.

Policy features and benefits:

  • Policy Term: 13 years to 25 years
  • Limited premium term - Pay for 3 years less than the term selected
  • On maturity get Sum Assured + Bonus + Final Bonus (if any)
  • On death, following benefits are payable: ● 10% of sum assured - every year till one year less than maturity date ● 110% of sum assured on maturity date ● All bonuses and Final Bonus (if any) for the entire term on maturity date
  • Loan is Available any time after 2 policy years.
  • Premium Paid is TAX EXEMPTED u/s 80 C.
  • All returns from the policy are TAX FREE u/s 10 (10) (D)
  • Option to take Maturity and Death Benefit in installments.

Illustration of LIC’s Jeevan Lakshya (833) – e.g considering Age: 30 years | Policy Term: 25 Years | Premium Paying Term: (25-3) = 22 Years | Sum Assured: 20 Lakhs | Term Rider: 20 Lakhs | ADB Rider: 20 Lakhs

Premium to pay:  7973 (Monthly) | 93687 (Yearly)

Maturity Benefit: 2000000 (S.A.) + 2400000 (Bonus) + 900000 (F.A.B.) = ₹ 53,00,000/- (53 Lakhs)

In case of death of policyholder (say on the 3rd year of policy inception) Death Benefit: 4600000 (10% of SA every year till policy term) + 2200000 (110% of S.A.) +  2000000 (Term Rider) + 2400000 (Bonus) + 900000 (F.A.B.) = ₹ 1,21,00,000/- (1 Crore 21 Lakhs)

In case of accidental death, Death Benefit: 12100000 (as above) + 2000000 (ADB Rider) = ₹ 1,41,00,000/- (1 Crore 41 Lakhs)

Note: Bonus rate assumed at 48 per thousand per year and Final Additional Bonus rate assumed at 450 per thousand of SA

LIC's Jeevan Umang

India's best Guaranteed benefit insurance plan. A non-linked, with-profit, whole life assurance plan. (Suitable for Retirement Planning)

LIC’s Jeevan Umang plan offers a combination of income and protection to your family. This plan provides for annual survival benefits from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policy holder during the policy term. In addition, this plan also takes care of liquidity needs through loan facility. 

Industry’s best guaranteed benefits plan that not only insures you for the whole of your life but also provides a guaranteed tax free income of 8% of sum assured per annum for your lifetime.

Policy features and benefits:

  • Policy Term: (100 - your age) years
  • Limited premium paying term: 15 years| 20 years| 25 years| 30 years
  • On maturity get Sum Assured + Bonus + Final Bonus (if any)
  • Guaranteed Survival Benefit of 8% of Basic Sum Assured each year after the final premium.
  • On death following benefits are payable: Sum Assured or 10 times of yearly premium (which ever is greater) + Bonus + Final Additional Bonus (if any)
  • Loan and surrender facility is Available after paying premiums for 3 years.
  • Premium Paid is TAX EXEMPTED u/s 80 C.
  • All returns from the policy are TAX FREE u/s 10 (10) (D)

Get information on the best protection and savings plans from LIC.

And the best part is, we are always at your service for all your queries.

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