LIC Jeevan Labh – Plan No. 736

Currently Available Endowment Plan UIN: 512N304V03

What Is LIC Jeevan Labh?

LIC's Jeevan Labh is a participating, non-linked endowment plan with a limited premium payment term shorter than the policy term — for example, paying premiums for a set number of years while cover continues for longer. It pays the sum assured plus bonuses on maturity, or a death benefit to the nominee if the life assured dies during the term.

Key Features

• Limited premium payment term (shorter than the full policy term)
• Participates in LIC's bonus declarations
• Straightforward endowment structure — lump sum on maturity or on earlier death
• Loan against policy generally available once it acquires a surrender value

Who May Consider This Plan

• Customers who want to finish paying premiums earlier while cover continues longer
• Those planning a specific future goal (e.g. funding a milestone 15-25 years away) with a disciplined savings structure

Important Considerations

Because premiums are paid over a shorter period for a longer cover term, the annual premium for a given sum assured is typically higher than a plan where premiums are paid for the full term. This suits customers confident of maintaining higher premium payments in the near term.

Example Scenario

Illustrative only: A 35-year-old might choose a 21-year policy term with premiums payable for a shorter limited period; on completing the term (or on earlier death), the sum assured plus bonuses is paid out. Exact terms depend on the specific premium-paying term option chosen.