JEEVAN LABH PLAN
Lic’s Jeevan Labh Plan is non linked and limited premium paying plan with Endowment Assurance Plan Benefits.
Min Basic Sum Assured: Rs 2,00,000
Max Basic Sum Assured: No Limit
Min Policy Time: 16, 21, 25 Years
Premium Paying Term: 16 year- 10 year
21 year- 15 year
25 year- 16 year
Min Entry Age: 8 years
Max Entry Age: 59 Years
Max Age at Maturity for Life Assured: 75 years
Premium Payment Mode: Monthly, Quarterly, Half- yearly, Yearly
The benefit of Accidental Death and Disability Rider is applicable on payment of additional premium.
LIC’S JEEVAN LABH PLAN BENEFIT
1 Survival Benefit: Basic Sum Assured + Vested Bonus +FAB if any
2 Death Benefit: Sum Assured + Vested Bonus + FAB if any
Sum Assured is higher of 10 times of Annualized Premium or 105% of all Premiums paid on death.
3 Surrendered Value Benefit: the Policyholder can surrender his policy at any time during his policy term but the condition is that first three full years premium is paid.
4 Loan Benefit: After payment of premium for three full years than you can use loan facility.
5 Income Tax Benefit: Tax Rebate is available when you pay the premium under this plan section is 80c and under sec10(10D) maturity is free for this plan.