LIC Jeevan Labh (Plan 936)

Buy Online

An Endowment Plan with Limited Premium Payment 

Top selling plan with highest returns. Double Savings with Tax saving on Premium paid and Maturity returns

Read more

Key Features of LIC Jeevan Labh Policy

(A Non-Linked, Participating, Individual, Savings, Life Insurance Plan)

  • Offers higher life cover for lesser premium
  • Offers a limited premium payment plan, allowing a premium holiday for up to 9 years.
  • Lesser premium payment term, allowing premium holiday upto 9 years.
  • Higher bonus rates independent of market fluctuations.
  • Double tax benefits : tax saving premiums paid and maturity benefits are tax free.
  • Enhanced risk cover with ADDB (accidental benefit).
LIC Jeevan Labh Policy online

Eligibility Conditions

Minimum Age8 Years (Last Birthday)
Maximum Age59 years for 16 years policy term
54 years for 21 years policy term
50 years for 25 years policy term
Premium paying term10 years (for 16 years policy term)
15 years (for 21 years policy term)
16 years (for 25 years policy term)
Policy Term16 years / 21 years / 25 years
Minimum Sum AssuredRs 2,00,000
Maximum Sum AssuredNo limit
Premium Payment mode

Yearly / Half yearly / Quarterly / Monthly (ECS)

Loan Eligible After 2 Years
SurrenderEligible After 2 Years
On MaturitySum Assured + Bonus + Final bonus
Income Tax Benefits(i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount / Death claim is Non taxable u/s 10(10d)
lic jeevan labh buy online

How does Jeevan Labh Plan works for you?

Let us understand the JEEVAN LABH LIC policy details with an example of Mr. Rahul, and understand the plan’s working.

Mr.Rahul, a 25-year-old individual working in software company, purchases a New Jeevan Labh policy. He wants to secure his family’s financial future while also building a savings corpus. After his research, he chooses the following policy details:

  • Policy Term: 25 years – The policy term is the duration for which the policy will remain in force.
  • Policy Term: 25 years – The policy term states how long you have life cover (insurance coverage).
  • Premium Payment Term : 16 years  – The premium payment term states how many years the policy holder has to invest the amount for.
  • Sum Assured: Rs. 10 lakhs – The sum assured is the amount that will be paid to the nominee in the event of the policyholder’s death.
  • Accidental Insurance cover: Rs. 10 Lakhs  – The premium payment term states how many years the policy holder has to invest the amount for.
  • Installment Premium (without tax)  – 45027 Rs to be paid for next 16 years. (GST will be added).

Calculate Premium for your Age, Select Sum Assured and maturity term as per your need 

Now let’s understand how the Jeevan Labh policy works:
Life Insurance Coverage: As long as Mr. Rahul pays the Rs.45027 yearly premiums regularly, he will have life insurance coverage of 20 lakhs for the entire policy term of 25 years. In the unfortunate event of his demise during the policy term, the nominee will receive the sum assured of Rs.10 lakhs + Bonus .
Accidental Death Benefit: In case Rahul unfortunately dies in a road accident(any accidental death) the nominee will receive 10 lakh accidental death benefit along with normal death benefit of 10 lakhs. Total amount received by nominee is 20 lakhs + bonus and is tax free.
Maturity Benefit: If Mr. Rahul survives the policy term of 25 years, he will receive the sum assured along with the accrued bonus.
Grace period to pay premium: If Rahul forgets to pay premium, he can pay the premiums within a grace period of 30 days without late fees But however if two years full premiums are paid by Rahul, policy status will go into paid up mode, nominee will still get death claim proportionate to total premiums paid till date. 
buy lic plan online

LIC Jeevan Labh Plan Benefits

Death Benefit

Death benefit payable in case of death of Life assured during the policy term, provided the policy is in-force (i.e all due premiums have been paid) shall be “sum assured on death” along with vested Simple Revisionary Bonus 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 upto to the date of death. 

Premiums referred above exclude taxes, extra premium and rider premium(s) if any

Maturity Benefit

On Life Assured surviving to the end of the policy term, provided the policy is in-force, “sum assured on Maturity” along with vested simple revisionary bonuses and Final Additional bonus, if any, shall be payable. Where “sum assured on maturity” is equal to basic sum assured.


The policy can be surrendered at any time provided two full years’ premium have been paid. On surrender of the policy, the Corporation shall pay the Surrender value equal to the higher of Guaranteed Surrender value or Special surrender value. 

Additional Benefits of LIC Jeevan Labh Plan


Accidental Death and Disability Rider:

If this rider is opted for, in case of accidental death , the Accident Benefit sum assured will be payable in lumpsum. In case of disability arising due to accident(within 180 days from the date of accident) an amount equal to Accident benefit sum assured will be paid in equal monthly instalments spread over 10 years and future premiums for accident sum assured and basic sum assured equal to accident sum assured shall be waived. 

Premium Waiver Benefit:

This rider shall be allowed under the policy wherein the Life Assured is Minor at the time of opting this rider. If this rider is opted for, on death of proposer, payment of premiums in respect of base policy falling due after the date of death till the expiry of the rider term shall be waived. 

Income Tax Benefit

The policy offers a tax benefit wherein the premium deposited, up to Rs 1.5 lakh per financial year, qualifies for exemption under section 80C of the Income Tax Act. Additionally, the maturity amount, which is ten times the annual premium, is also exempt from taxes under section 10(10D).



Documents required to buy LIC Jeevan Labh Policy Online

Buying LIC Policy Online

Minimal* Documentation!

Address ProofAadhar Zip File
ID Proof
Age Proof

Buy LIC Policy Online


FAQs on LIC Jeevan Labh Plan before buying

Why should I buy this policy?

LIC Jeevan Labh plan is suitable for you if you are are looking for a insurance plan with lower premium and higher returns at maturity with decent insurance cover and accidental and disabiltiy insurance coverage.

LIC Jeevan Labh has the highest bonus rates among all LIC endowment plans. Policyholder can get high returns. Save Income tax under 80c and maturity returns are also tax free under 10(10d).

If you are looking at investment purpose, you can buy LIC Jeevan Umang plan with high returns or LIC Bima Ratna plan

APPLY ONLINE. Qualified sales representative will contact you and guide you in verification of your documents, payment and policy issuance.