The Ultimate Guide to LIC Jeevan Labh Calculator (Plan 936, 836, 736)
Welcome to the most comprehensive and futuristic LIC Jeevan Labh Calculator on the web. This tool is meticulously designed to provide you with precise calculations for LIC's popular endowment plan, Jeevan Labh. Whether you're considering the latest Plan 936, looking for details on the older Plan 836, or exploring other variants, our calculator simplifies everything. It helps you understand your premium obligations, projected maturity benefits, potential loan amounts, and surrender values, all in a sleek, easy-to-use interface. This guide will walk you through every aspect of the plan and how to use our powerful online calculator.
🎯 What is LIC Jeevan Labh?
LIC Jeevan Labh is a limited premium paying, non-linked, with-profits endowment plan. This means you pay premiums for a shorter period than the policy term, but you get life cover for the entire duration. It's a dual-benefit plan that offers a combination of protection and savings. Upon survival till the end of the policy term, the policyholder receives the Sum Assured along with vested bonuses. In case of an unfortunate demise during the term, the nominee receives the death benefit, ensuring financial security for the family. Our lic jeevan labh calculator online is the perfect tool to visualize these benefits.
🌟 Key Features of LIC Jeevan Labh (Plan 936)
- Limited Premium Payment: Pay for 10, 15, or 16 years for policy terms of 16, 21, and 25 years respectively. This reduces the premium-paying burden.
- Protection + Savings: It offers a lump sum amount on maturity or death, serving both long-term financial goals and family protection.
- Bonus Participation: As a with-profits plan, it is eligible for LIC's bonuses (Simple Reversionary Bonus and Final Additional Bonus), enhancing the final payout.
- Loan Facility: Policyholders can avail loans against the policy after paying premiums for at least two full years, providing liquidity.
- Tax Benefits: Premiums paid are eligible for tax deduction under Section 80C, and the maturity amount is tax-free under Section 10(10D) of the Income Tax Act.
- Rider Options: Enhance your coverage with optional riders like Accidental Death and Disability Benefit Rider, and New Term Assurance Rider.
⚙️ How Our LIC Jeevan Labh Calculator Works
Our state-of-the-art lic jeevan labh calculator 936 uses a sophisticated algorithm based on LIC's official premium and benefit illustrations. To get your personalized quote, you just need to enter a few basic details:
- Your Age: The entry age directly impacts the premium amount. Younger individuals typically pay lower premiums.
- Sum Assured: This is the guaranteed amount you will receive on maturity or your nominee will receive on death. The minimum Sum Assured is ₹2,00,000.
- Plan Number: Select between Plan 936, 836, or others to get specific calculations.
- Policy Term: Choose the duration for which you want life cover (16, 21, or 25 years). The premium paying term is automatically determined.
Once you input these details and click "Calculate," the tool instantly processes the information and displays a detailed breakdown of your premiums (annual and monthly), a handsome projected maturity amount (including estimated bonuses), and the maximum loan you can avail. For those looking for details in their native language, our lic jeevan labh calculator in hindi feature provides a seamless experience.
📊 Understanding the Results: Premiums, Maturity, and More
The results generated by our calculator are designed for maximum clarity. Here's what each component means:
- Premium Amount: This is the amount you need to pay regularly (annually, semi-annually, quarterly, or monthly) to keep the policy active. Our tool shows both annual and monthly estimates for easy budgeting.
- Maturity Benefit: This is the total amount you receive if you survive the policy term. It's calculated as: Sum Assured + Vested Simple Reversionary Bonuses + Final Additional Bonus (if any). Our calculator uses projected bonus rates to give you a realistic estimate, similar to what you might find on platforms like Groww's lic jeevan labh calculator.
- Death Benefit: In case of demise, the nominee receives the "Sum Assured on Death," which is higher of 10 times the annualized premium or the Basic Sum Assured, plus vested bonuses. This benefit is never less than 105% of all premiums paid.
- LIC Jeevan Labh Surrender Value Calculation: While surrendering a policy is not generally advised, our tool can give you an idea of the surrender value you might receive after paying premiums for a few years. It's a complex calculation based on factors determined by LIC.
📜 A Deep Dive into LIC Jeevan Labh Plan Details
Understanding the nuances of the plan is crucial before making an investment. Here, we break down the specifics of the most popular variant, Plan 936, and also touch upon the older plans like 836.
LIC Jeevan Labh Plan 936 Details: The Modern Choice
Plan 936 is the current, active version of Jeevan Labh. Its structure is highly favored for goal-based savings like a child's education, marriage, or retirement planning.
| Policy Term (PT) | Premium Paying Term (PPT) |
|---|---|
| 16 Years | 10 Years |
| 21 Years | 15 Years |
| 25 Years | 16 Years |
LIC Jeevan Labh Plan 836 Details: The Predecessor
Plan 836 was the earlier version of Jeevan Labh. While it's no longer available for new customers, existing policyholders can still use our lic jeevan labh calculator 836 to track their policy's performance. The core benefits and structure were similar to Plan 936, but with different bonus rates and terms. The features of lic jeevan labh plan 836 laid the foundation for the success of its successor.
What About LIC Jeevan Labh Plan 736?
You might come across queries for "LIC Jeevan Labh Plan 736." It's important to note that this plan number does not officially correspond to the Jeevan Labh series. It's often a point of confusion. Our calculator focuses on the official and widely recognized plans 936 and 836 to ensure accuracy.
Why Use an Online LIC Jeevan Labh Calculator?
In the digital age, manual calculations are a thing of the past. Here’s why our online tool is indispensable:
- Accuracy: Avoid manual errors. Our tool provides precise calculations based on updated formulas.
- Speed: Get instant results in seconds. No need to wait for an agent or sift through complex PDF documents. You can even generate a hypothetical lic jeevan labh calculator 936 pdf of your illustration.
- Comparison: Easily compare different scenarios by changing the Sum Assured or term to find the perfect fit for your financial goals.
- Convenience: Access it anytime, anywhere, on any device. Our website is fully responsive and mobile-friendly.
- Informed Decisions: Visualizing the numbers helps you make a well-informed decision about your investment, empowering your financial journey.
Final Thoughts on LIC Jeevan Labh Policy
The LIC Jeevan Labh Policy remains one of LIC's flagship products due to its balanced approach to insurance and savings. The lic jeevan labh plan 936 features benefits make it a compelling choice for individuals at various life stages. It's not just a policy; it's a disciplined way to build a corpus for your future while ensuring your family is protected. Use our calculator today to take the first step towards securing your financial future. Explore the lic jeevan labh benefits and see how this plan can work for you.
