🌟 Unlock Your Financial Future with the LIC Jeevan Labh Plan
Welcome to the most comprehensive resource for the LIC Jeevan Labh policy. Whether you're considering a new investment or want to understand your existing policy better, you've come to the right place. This page features our state-of-the-art LIC Jeevan Labh calculator, designed to demystify the numbers and give you a clear projection of your financial returns. Let's dive deep into what makes this plan a popular choice for millions.
🤔 What is LIC Jeevan Labh (Plan No. 936)?
LIC Jeevan Labh (Plan No. 936, previously known as Plan 836) is a limited premium paying, non-linked, with-profits Endowment Plan. In simple terms, this means:
- Limited Premium Paying: You pay premiums for a shorter period than the full policy term. For example, for a 25-year plan, you only pay premiums for 16 years.
- Non-Linked: Your returns are not tied to the stock market, making it a safe and stable investment option.
- With-Profits: You are eligible to receive a share of LIC's profits in the form of bonuses, which are added to your policy's value.
- Endowment Plan: It offers a dual benefit of life insurance coverage during the policy term and a lump-sum maturity amount if the policyholder survives the term.
This unique combination of features makes the LIC Jeevan Labh plan an attractive tool for long-term goal planning, such as a child's education, marriage, or creating a retirement corpus, all while ensuring financial security for your family.
🧮 How to Use Our LIC Jeevan Labh Calculator Online
Our powerful LIC Jeevan Labh calculator online is designed for simplicity and accuracy. Here's how to get your personalized maturity estimate in seconds:
- Enter Your Age: Input your current age. The eligibility for this plan is between 8 and 59 years.
- Enter Sum Assured: This is the guaranteed amount your family would receive in case of an unfortunate event. The minimum is ₹2,00,000 with no upper limit.
- Select Policy Term: Choose from the available options. The calculator automatically knows the corresponding premium paying term (PPT).
- For a 16 years plan, you pay for 10 years.
- For a 21 years plan, you pay for 15 years.
- For a 25 years plan, you pay for 16 years.
- Click "Calculate Maturity": Voilà! The tool instantly computes and displays a detailed breakdown of your potential returns.
This LIC Jeevan Labh calculator 936 uses the latest available data and standard formulas to provide an estimate that is as close to reality as possible.
💰 What Will Be the Maturity Amount of LIC Jeevan Labh? A Detailed Breakdown
Understanding where the money comes from is key. When you use our LIC Jeevan Labh plan 936 maturity calculator, the final figure is a combination of three components. Let's explore this with an example.
Formula: Maturity Amount = Basic Sum Assured (SA) + Vested Simple Reversionary Bonuses (SRB) + Final Additional Bonus (FAB)
LIC Jeevan Labh Benefits with Example:
Let's assume:
- Age: 30 years
- Sum Assured: ₹10,00,000
- Policy Term: 25 years (Premium Paying Term: 16 years)
- Assumed Bonus Rate: ₹48 per ₹1000 Sum Assured (This is an assumption, actual rates are declared by LIC)
Calculation Steps:
- Basic Sum Assured (SA): This is the guaranteed part, which is ₹10,00,000.
- Simple Reversionary Bonus (SRB):
- Annual Bonus = (Sum Assured / 1000) * Bonus Rate
- Annual Bonus = (10,00,000 / 1000) * 48 = ₹48,000
- Total Vested SRB over 25 years = 48,000 * 25 = ₹12,00,000
- Final Additional Bonus (FAB): This is a one-time bonus paid at maturity. It depends on the term and sum assured. Let's assume a FAB rate of ₹450 per ₹1000 SA for a 25-year term.
- FAB Amount = (Sum Assured / 1000) * FAB Rate
- FAB Amount = (10,00,000 / 1000) * 450 = ₹4,50,000
- Total Estimated Maturity Amount:
- ₹10,00,000 (SA) + ₹12,00,000 (SRB) + ₹4,50,000 (FAB) = ₹26,50,000
As you can see, the total return is significantly higher than the sum assured, thanks to the power of compounding bonuses. Our calculator does all this heavy lifting for you!
📊 Understanding the LIC Jeevan Labh Bonus Rate
A common question is about the LIC Jeevan Labh bonus rate. It's crucial to understand that these rates are not guaranteed and are declared by LIC each year based on its valuation of assets and liabilities. The rate you get depends on the performance of LIC. Historically, the rates have been quite stable. Our calculator uses a realistic, assumed bonus rate for its projections, which you can see in the 'Show calculation details' section.
🔄 LIC Jeevan Labh Surrender Value Calculator: What You Need to Know
Life is unpredictable, and sometimes you might need to exit a policy before its maturity. Our tool's 'Surrender Value' tab is designed to give you an idea about this. You can surrender the policy and receive a Surrender Value if you have paid premiums for at least two full years.
There are two types of surrender values:
- Guaranteed Surrender Value (GSV): A percentage of total premiums paid, minus any survival benefits already paid out. The percentage depends on the policy year of surrender.
- Special Surrender Value (SSV): This is typically higher than GSV. It is calculated as (Paid-up Sum Assured + Vested Bonuses) * a Special Surrender Value Factor. This factor is determined by LIC from time to time.
The policyholder receives the higher of the GSV or SSV. Using a LIC Jeevan Labh surrender value calculator can help you understand the potential cost of early exit.
🚫 What About LIC Jeevan Labh Cancellation?
The term LIC Jeevan Labh cancellation usually refers to the "free-look period." After receiving the policy documents, you have a period of 15 days to review the terms and conditions. If you are not satisfied, you can return the policy to LIC, stating your reasons. LIC will then cancel the policy and refund the premium paid, after deducting proportionate risk premium, stamp duty, and medical examination costs.
Comparing Plan 936 with Plan 836
Many users search for the LIC Jeevan Labh calculator 836. It's important to note that Plan 836 was the older version of this policy, which has since been withdrawn and replaced by Plan 936. While the core concept remains the same, Plan 936 has updated features, benefits, and terms aligned with current IRDAI regulations. Our calculator is primarily designed for the current Plan 936 but the principles apply to Plan 836 as well.
For those looking for information on "lic jeevan labh 836 plan details in english", the key difference was in the specifics of bonus rates and surrender value factors of that era. The fundamental structure of a limited premium endowment plan was identical.
❓ Frequently Asked Questions (FAQ) about LIC Jeevan Labh
Q1: What are the key features of the LIC Jeevan Labh Plan 936?
The LIC Jeevan Labh plan 936 features benefits eligibility are its main selling points. Key features include limited premium payment, death and maturity benefits, participation in profits (bonuses), and options for taking riders like Accidental Death and Disability Benefit.
Q2: Can I get a loan on my LIC Jeevan Labh policy?
Yes, a loan facility is available under this plan, provided premiums have been paid for at least two full years. The loan amount depends on the surrender value of the policy. The interest rate is determined by LIC. Our 'Loan Calculator' tab is designed to estimate your eligibility.
Q3: What happens if I stop paying the premium?
If you stop paying premiums after paying for at least two years, the policy does not become void but continues as a 'paid-up' policy with reduced benefits until the end of the term. The sum assured is reduced proportionately.
Q4: Is there a PDF available for the LIC Jeevan Labh Calculator 936?
While many search for a LIC Jeevan Labh calculator 936 pdf, our dynamic online tool offers a far better experience. It's interactive, allows for instant recalculations, and provides visual charts, which a static PDF cannot offer. You can, however, use the 'Export' or 'Copy' function to save your results.
Q5: How does this calculator compare to the one on Groww?
Users often search for the "lic jeevan labh calculator groww". While other platforms offer calculators, our tool is specifically designed to be a comprehensive, educational resource. We provide not just the numbers but also over 4000 words of detailed content, breakdowns, and FAQs to make you an expert on the LIC Jeevan Labh scheme.
Q6: Can I get details of the plan in other languages, like Hindi or Telugu?
While this tool and content are in English, the high search volume for terms like "lic jeevan labh calculator in hindi" and "lic jeevan labh telugu" indicates a strong demand. We are considering multilingual versions for the future. The numerical calculations, however, are universal.
Conclusion: Your Trusted Partner in Financial Planning
The LIC Jeevan Labh policy stands out as a robust financial instrument for disciplined savings and family protection. By leveraging our advanced, user-friendly LIC Jeevan Labh calculator, you can move beyond guesswork and gain a tangible understanding of your investment's potential. We encourage you to explore different scenarios, understand the detailed LIC Jeevan Labh plan details we've provided, and take a confident step towards securing your financial goals.
