LIC Jeevan Labh Calculator

Plan (Table 936)

LIC Jeevan Labh Calculator (Table-936)

In the dynamic landscape of financial planning, LIC Jeevan Labh (Table-936) stands out as a beacon of security and prosperity. This article delves into the significance of this plan and explores the functionalities of the LIC Jeevan Labh Premium Calculator, a powerful tool designed to facilitate informed decisions for a secure financial future.

Understanding LIC Jeevan Labh (Table-936)

LIC Jeevan Labh is a limited premium paying, with-profits endowment plan that provides a unique combination of protection and savings. Plan No: 936 offers policyholders the flexibility of limited premium payments, shielding them from market fluctuations as it is not linked to equity-based funds.

Features and Benefits of LIC Jeevan Labh (Table-936)

Premium Flexibility: The plan allows policyholders to choose from various premium payment terms, offering flexibility tailored to individual financial capabilities. b. Death Benefit: In the unfortunate event of the policyholder’s demise during the policy term, the plan provides a death benefit to ensure financial security for the family. c. Maturity Benefit: Upon survival of the policy term, policyholders receive a lump sum amount, combining the sum assured and accrued bonuses. d. Loan Facility: Policyholders can avail themselves of a loan against the policy, providing financial assistance when needed.

Introduction to LIC Jeevan Labh Calculator

The LIC Jeevan Labh Premium Calculator is an invaluable tool designed to empower policyholders in making well-informed decisions. Let’s explore the key functionalities:

a. Premium Calculation: Easily calculate the premium based on the chosen sum assured, premium payment term, and other relevant details. This feature aids in budgeting and ensures transparency in financial planning.

b. Benefit Illustration: The calculator provides a detailed breakdown of the maturity benefits, including the sum assured and accrued bonuses. This allows policyholders to visualize the long-term gains of their investment.

c. Policy Comparison: The premium calculator facilitates a side-by-side comparison of different policy scenarios. This enables policyholders to choose the most suitable plan based on their unique financial goals.

How to Use the LIC Jeevan Labh Calculator

a. Visit the our LIC Jeevan Labh Premium Calculator page.
b. Input relevant details such as age, sum assured, premium payment term, and others.
c. The calculator will generate an instant result, showcasing the premium amount and potential benefits.

Importance of Financial Planning with LIC Jeevan Labh

a. Stability in Unpredictable Times: The non-linked nature of the plan ensures that policyholders are shielded from the volatility of equity markets. b. Secure Family’s Future: The dual benefit of protection and savings makes LIC Jeevan Labh an ideal choice for securing the financial future of your loved ones. c. Tax Benefits: Policyholders can enjoy tax benefits under various sections of the Income Tax Act, enhancing the overall financial advantages.

Premium Payment Options of LIC Jeevan Labh

Jeevan Labh provides a variety of premium payment options, including:

  1. Yearly
  2. Half-yearly
  3. Quarterly
  4. Monthly

Higher modal factors apply to half-yearly, quarterly, and monthly modes. A 5% discount on tabular premiums is applicable for high basic sums assured.

Eligibility Requirements To qualify for the Jeevan Labh policy

Individuals must meet the following eligibility criteria:

  • Minimum entry age: 18 years
  • Maximum entry age: 55 years
  • Maximum maturity age: 100 years
  • Policy term options: 16, 22, or 28 years
  • Minimum sum assured: Rs 1,00,000
  • Maximum sum assured: No limit

Frequently Asked Questions (FAQ) about LIC Jeevan Labh Calculator

1. What is the LIC Jeevan Labh Calculator? The LIC Jeevan Labh Calculator is an online tool provided by LIC to help individuals calculate premiums and understand the benefits associated with the Jeevan Labh (Table-936) plan.

2. How can I access the LIC Jeevan Labh Calculator? You can access the LIC Jeevan Labh Calculator on the official LIC website. Look for the calculator section, enter the required details, and get instant premium and benefit calculations.

3. What information do I need to use the calculator? To use the calculator, you’ll need to input details such as your age, chosen sum assured, premium payment term, and other relevant information specific to your policy.

4. Can I compare different policy scenarios using the calculator? Yes, the LIC Jeevan Labh Premium Calculator allows you to compare different policy scenarios side by side. This helps you make an informed decision based on your unique financial goals.

5. Is the LIC Jeevan Labh Calculator accurate? Yes, the calculator provides accurate premium calculations and benefit illustrations based on the information you input. It is a reliable tool for estimating costs and potential returns.

6. What premium payment modes can I choose from using the calculator? The LIC Jeevan Labh Calculator accommodates various premium payment modes, including yearly, half-yearly, quarterly, and monthly. Modal factors and discounts are automatically applied based on your choice.

7. Are there any discounts available with the LIC Jeevan Labh Calculator? Yes, a discount of 5% on tabular premiums is offered in case of high basic sums assured. The calculator takes this into account when providing premium calculations.

8. Can I use the calculator to determine tax benefits? While the calculator primarily focuses on premium calculations and benefit illustrations, you can consult with LIC or a tax professional to understand the tax benefits associated with the Jeevan Labh plan.

9. What policy terms are available with the LIC Jeevan Labh plan? The Jeevan Labh plan offers policy terms of 16, 22, or 28 years. You can choose the term that aligns with your financial objectives and future plans.

10. Is there a limit on the sum assured with the Jeevan Labh plan? While there is a minimum sum assured of Rs 2,00,000, there is no maximum limit on the sum assured, providing flexibility to policyholders based on their financial needs.

For any specific queries or concerns regarding the LIC Jeevan Labh Calculator, it is recommended to reach out to LIC customer support or visit the official LIC website for detailed information.

In conclusion, LIC Jeevan Labh (Table-936) and its associated Premium Calculator are indispensable tools for those seeking a secure and prosperous financial future. By combining the benefits of an endowment plan with the convenience of premium calculation, LIC has created a comprehensive solution to address the evolving needs of policyholders. Embrace the power of informed decision-making and financial planning with LIC Jeevan Labh.