LIC Jeevan Labh Plan
A limited premium paying, Non-linked, Conventional with-profits Endowment Assurance plan.
The highlight of the plan is that premium is payable for limited period and risk is covered for the whole policy term.
This plan is suited to those who want Premium commitment for short duration having life coverage and benefits for a longer period.
|Eligibility Conditions & Restrictions|
|Minimum age||:||8 years (Completed)|
|Maximum age||:||59 years for 16 years policy term
54 years for 21 years policy term
50 years for 25 years policy term
|Policy Term||:||16 years / 21 years / 25 years|
|Premium paying term||:||10 years for policy term 16 years
21 years for policy term 15 years
25 years for policy term 16 years
|Minimum Sum Assured||:||Rs.2,00,000|
|Maximum Sum Assured||:||No limit|
|Premium payment mode||:||Yearly / Half yearly / Quarterly / Monthly (Thru bank)|
|Loan||:||Eligible after 3 years|
|Surrender||:||Eligible after 3 years|
|On Death||:||Sum Assured + Bonus|
|On Maturity||:||Eligible after 3 years|
|Income Tax Benefits||:||(i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount / Death claim is Non taxable u/s 10(10d)