"In case you are not there to hold him make sure you leave a safety net for him"
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 the parent
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 in instalments
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 policy
Settlement option avilable on Maturity and Death in Installments of 5,10 or 15 Years
| Eligibility Criteria | Minimum | Maximum |
|---|---|---|
| Age | 8 Yars (Completed) | 59 Years for Policy Term = 16 54 Years for Policy Term = 21 50 Years for Policy Term = 25 |
| Policy Term | 16 Years 21 Years |
25 Years |
| Premium Payment Term | 10 Years 15 Years |
16 Years |
| Basic Sum Assured | Rs.2 Lacs | No Limit |
| Maximum Maturity Age | 75 Years (Nearer Birthday) | 75 Years (Nearer Birthday) |
| Rider | LIC’s NEW CRITICAL ILLNESS BENEFIT RIDER(CIR) | LIC’s NEW CRITICAL ILLNESS BENEFIT RIDER(CIR) |
| Rider | LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER | LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER |
| Rider | LlC's ACCIDENT BENEFIT RIDER | LlC's ACCIDENT BENEFIT RIDER |
| Rider | LIC’s PREMIUM WAIVER BENEFIT RIDER (PWB) - If life assured is Minor | LIC’s PREMIUM WAIVER BENEFIT RIDER (PWB) - If life assured is Minor |
| Rider | LIC's NEW TERM ASSURANCE RIDER (TR) | LIC's NEW TERM ASSURANCE RIDER (TR) |