LIC of India new plan launched on 1st. february 2020 which name is LIC Jeevan Labh Plan 936 (LIC Table no. 936) is a traditional plan which means not related to market. Jeevan Labh Plan 936 is a combination of insurance and savings.
LIC’s Jeevan Labh Plan 936 is a participating limited premium paying, non-linked, with-profit endowment Insurance Plan. This plan is a comprehensive Endowment plan that ensure a financially secure and guarantees your peace of mind.
LIC Jeevan Labh 936 provides financial protection for the family of the deceased policyholder any time before maturity. The main benefit of this plan is it has the limited premium payment option. For the 16 years policy term policy holder have to pay the premium for 10 years and 21 years and 25 years of policy term policy holder have to pay the premium for 15 years and 16 years respectively.
Key Features
- Higher Bonus Attracting Plan
- Premiums need to be paid for less number of years than Maturity year
- Ideal Plan for planning Child’s Education and Marriage
- Options to avail accidental and disability benefit rider, critical illness, premium waiver rider, and term rider.
- Settlement option available for maturity and death benefits in instalments 5, 10, and 15 years.
- Paid premiums are exempted from income tax under 80C
- Maturity amount is tax free under 10 (10D).
LIC Jeevan Labh Plan 936 Parameter
| Minimum Age at Entry | 8 Years (Completed) |
| Maximum Age at Entry | 59 Years for 16 Year Term 54 Years for 21 Year Term 50 Years for 25 Year Term |
| Maximum Age at Maturity | 75 Years |
| Premium Paying Mode | Yearly, Half Yearly, Quarterly, Monthly (NACH) |
| Policy Term | 16, 21, 25 years. |
| Premium Payment Term | 10, 15, 16 years. |
| Basic Sum Assured | 2,00,000 and above (in multiple of 10,000) |
| Loan | After 2 years |
| Surrender | After 2 years of premium payment |
Tags: LIC Jeevan Labh Plan 936