- Jeevan Labh is a life assurance savings plan with limited payment option.
- This is ideal plan for those who want to pay the premium for a shorter period
- The risk coverage under this plan enhances every year as LIC declared the bonuses.
However, the premium does not change
- The customer gets the tax-free maturity under this plan which includes the bonus
also along with Sum Assured
- This plan has an option of choosing the Accidental Life cover, Disability Benefit &
Critical illness cover
- In case of a minor, this plan also has the premium waiver benefit in case of death of
- This plan also has the option of taking the Maturity proceeds in instalments as the
policy-holder can choose the no of year as 5, 10 or 15.
- In a similar way, the policyholder also has the option of choosing the death benefit
- LIC also offer the discount in the premium in case the mode of payment is Yearly.
- The loan is also available to the policyholder after the completion of 2 years of the
- Settlement option avilable on Maturity and Death in Installments of 5,10 or 15 Years
How Does This Policy Work
||8 Years (Completed)
||59 Years for Policy Term = 16
54 Years for Policy Term = 21
50 Years for Policy Term = 25
|Premium Payment Term
|Basic Sum Assured
|Maximum Maturity Age
||75 Years (Nearer Birthday)
||LIC’s NEW CRITICAL ILLNESS BENEFIT RIDER(CIR)
||LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER
||LlC's ACCIDENT BENEFIT RIDER
||LIC’s PREMIUM WAIVER BENEFIT RIDER (PWB) - If life assured is Minor
||LIC's NEW TERM ASSURANCE RIDER (TR)