LIC’s Jeevan Labh Plan 936
This is a limited premium non linked with profits endowment plan.Sum Assured On Death: Basic sum assured death + vested bonus + FAB if any maturity / death claim in installations for 5,10,15 year for full or part of maturity / death claim amount. Option to be excercised-3 months before maturity and for death claim during life time by life assured.
Age -35, Sum assured Rs.5,00,000 policy term – 25years, PPT – 16 years, Basic yearly premium Rs.22601
Features & Conditions
- Minimum age at entry – 8years
- Term PPT Entry age
- 16years 10 years 59
- 21years 15years 54
- 25years 16years 50
- Maximum Maturity age -75 years
- Minimum sum Assured – 2 in multiple of Rs.10,000 there after
- Maximum Sum assured – No limit
- Available Riders
- Accidental Rider
- Term Rider
- Critical illness Rider
- PWB Rider up to 25 of child
Mode of Payment
Yearly, Half yearly, Quarterly ( SSS & NACH)
- Mode Rebate: Yearly 2%, Half Yearly 1%
- High Basic sum Assured Rebate
- Up to 4.90 lacks – Nil
- 5laks to 9.90 lacks – 1.25% Basic Sum assured
- 10lacs to 14.90lacks – 1.75% Basic Sum Assured
- Grace Period – 15 days for monthly mode and 30days for other modes.
Claim Concessions – Available under base plan only. Not apply to riders and death due to suicide.
Paid up / Surrender / Policy loan:
- Available after payment of premium of 2 full years
- Revivals: With 5 years of FUP
- Back Dating Allowed with lean Month’s benefits.
- Entry Age 35, In case of death at age 39
- Sum Assured on Death + Vested Bonus fir 5 years + FAB
- Rs.5,00,000 + Rs.1,25,000 (50 * 500 * 5) + Nil
- In case Term Rider is opted for Rs.5,00,000
- Additional Rs.5,00,000 will be paid
- Total natural death benefits –Rs.6,25,000 + 8,00,000 = Rs.11,25,000
- In case of accidental death
Additional Rs.5,00,000 will be paid alone with natural death benefit
Total – Rs.11,25,000 + Rs.5,00,000 = Rs.16,25,000
His premium will stop when he reaches age 51 .
Maturity at age 60 , when Maturity Benefits
Basic Sum assured + Vested Bonus + FAB
Rs.5,00,000 + Rs.6,25,000 (50 * 500 * 25) + Rs.2,25,000 (450 * 500)
Actual Sum Assured (ASA) for SUC
For FMR special Reports, MHR & TRSA basic sum Assured only.
Non –Medical schemes all allowed
Female lives all allowed pregnant ladies cat A1 only up to 24 weeks of pregnancy. Minor lives only sum assured beyond Rs.2crore / substandard minor lives at ZUS / CUS only with MMS recommendation. Standard Age proof is a must.
Sub-Standard major lives
Up to EMR Class ten only
Physically handicapped lives should be gain fully employed.
LIC’s Jeevan Labh Plan 936 Insurance is very useful for us .It is an important part of our lives and after life .It is confident that it will be an anchor not only for us but also for our family