Lic Jeevan Labh Plan 736

It is a limited premium payment with profit endowment insurance plan which offers attractive returns. Policy can be availed with duration of 16 years, 21 Years and 25 Years and can be taken by any person between the age group of 8 years to 59 years.

More Sum Assured than Premium Paid

More Protection at less premium. Policy Sum Assured is more as compared to total premium paid during the premium payment term.

Shorter Premium Payment Commitment

Premium payment liability is less compare to policy term as for term of 16 years, premium payment term is 10 years, for term of 21 years, premium payment term is 15 years, and for term of 25 years, premium payment term is 16 years,

Profit Sharing as per Valuation

Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.

Lic Jeevan Labh Plan 736 Additional Accident Benefit

By paying a small extra premium amount, you can secure your life for high insurance protection on natural or accidental death by opting DAB and Term Rider.

Lic Jeevan Labh Plan 736 Advantages

Avail Tax benefit on premium paid

Lic Jeevan Labh Plan 736 Tax Free Maturity Amount

Lic Jeevan Labh Plan 736 Tension Free Claim Settlement

Lic Jeevan Labh Plan 736 Eligibility  Criteria:

Premium Modes
Yearly, Half-Yearly, Quarterly and Monthly (NACH only) or through salary deductions (SSS).

Riders Available

LIC’s Premium Waiver Benefit Rider

LIC’s Accident Benefit Rider

LIC’s New Term Assurance Rider

LIC’s Premium Waiver Benefit Rider

Death Benefit
On death of the Life Assured during the Policy Term, Sum Assured on Death along with Guaranteed Additions vested Simple Reversionary bonuses and Final Additional bonus (if any), where “Sum Assured on Death” is defined as higher of Basic Sum Assured or 7 times of annualised premium.

This Death Benefit shall not be less than 105% of total premiums paid up to the date of death. Where,
1. “Annualized Premium” shall be the premium amount payable in a year, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums.

2. “Total Premiums Paid” means total of all the premiums paid under the base product, excluding any extra premium, and taxes, if collected explicitly.

Maturity Benefit
On the life assured surviving to the end of the policy term, provided all due premiums have been paid, “Sum Assured on Maturity” along with vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable; where “Sum Assured on Maturity” is equal to Basic Sum Assured.

Loan Facility is available after completion of the first policy year provided one full year’s premium has been paid.

Option to Surrender the Policy Lic Jeevan Labh Plan 736

The policy can be surrendered by the policyholder after completion of the first policy year provided at least one full year’s premium(s) has been paid. However, the policy shall acquire Guaranteed Surrender Value on payment of at least two full years’ premiums and Special Surrender Value after completion of first policy year provided one full year’s premium(s) has been paid. On surrender of an in-force or paid-up policy, the Corporation shall pay the surrender value equal to the Guaranteed Surrender Value and Special Surrender Value.