LIC Jeevan Labh Endowment Plan Calculator - LIC Jeevan Labh Plan 836 is an endowment policy recently introduced by LIC of India on January 1st, 2016. LIC's Jeevan Labh Endowment Plan is available to the customers from January 4th, 2016. LIC Jeevan Labh 836 Endowment Plan is a non-linked, limited premium paying, with profitable Endowment Assurance Plan. It's primary feature is a limited premium payment option. For 16-year policy term, the policy holder has to pay a premium for 10 years. For 21 and 25 years of the policy term, the assurer has to pay the premium for 15 and 16 years respectively. LIC Jeevan Labh Plan has a rider, death, and maturity benefits. This plan is taken from the age of 8 to 59 years.
In this LIC Jeevan Labh Plan, especially LIC mentions only the 3 policy terms; 16, 21, and 25 years. The customer can choose any one of these 3 Jeevan Labh Endowment Plans according to their requirements.
LIC Jeevan Labh Endowment Plan Calculator helps to calculate the premium and maturity amount for LIC Jeevan Labh Plan 836. Customer be careful; before buying the policy, please check the premium rates for your desired sum assured using this LIC Jeevan Labh Endowment Plan Calculator or Lic Jeevan Labh Endowment Maturity Calculator. Customers will have an option to pay the premium monthly, quarterly, half-yearly and yearly.
Minimum: 8 years (completed),
Maximum: 59 years (nearest birthday) for Policy Term 16 years.
54 years (NBD) for Policy Term 21 years.
50 years (NBD) for Policy Term 25 years.
Maximum Maturity Age: 75 years (nearest birthday)
Term and Paying Premium Term:
Premium Payment Mode:
Yearly, Half-yearly, Quarterly or Monthly mode (through ECS only or salary deductions)
Loan: Loan facility is available under LIC New Jeevan Labh 836 Plan after paying the premiums for 3 years.
Riders: Riders are available under this LIC Jeevan Labh 836 Plan. Availability of Accidental Death and Disability Benefit Rider.
Suicide clause: If the policyholder commits suicide for any of the reason within 12 months of the date of commencement of risk or from the date of revival, then 80% of the premium for what he had paid will be returned to his assignees or nominees.
Income Tax Reduction: Available for premiums paid and for Maturity returns.
Policy Revival: If you do not pay the premium within the grace period then the policy will lapse. If you are interested in continuing this policy then you can revive your policy on or before 2 years from the date of first Unpaid premium.
Proposal Forms: Proposal Form no. 300 or 340 or 360 will be used under this LIC Jeevan Labh Plan 836.
Tax: Service tax payable by the policyholder on premiums. For information about Tax on Insurance Polices refer www.taxqueries.in.
Free Look (Cooling Off )Period: If you are not satisfied with this policy term you may return the policy within 15 days from the date of receipt of the plan.
Backdating interest: The policy can be backdated within the same financial year.
Assignments/Nominations: Assignees and nominees are possible under this LIC New Jeevan Labh 836 plan.
Paid up value: Basic Sum Assured x (number of premiums paid / number of premiums payable during the premium paying term).
Surrender Value: This policy can be surrendered at any time, paying the premiums for 3 full years. The guaranteed surrender value is the percentage of total premiums paid.
Policy Stamping: Under, LIC New Jeevan Labh Plan stamping charges will be 20 paise per thousand Sum Assured.
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