LIC?s Jeevan Labh Plan 836 Features and Benefits
LIC Jeevan Labh Plan Review

LIC Jeevan Labh Review 2022: Features, Benefits & Drawbacks

LIC Jeevan Labh’s plan is one of the most popular insurance policies in India. In Jeevan labh, you need to pay fewer premiums and you will get life cover for additional years. But hold on !!

I am going to do LIC Jeevan Labh review in detail to let you take an informed decision before buying Jeevan Labh.

LIC Jeevan Labh Review

LIC launched Jeevan Labh Plan- 936 (earlier Table No. 836) in 2016 and it became a successful insurance plan offered by LIC. The main benefit of the Jeevan Labh policy is extended life cover with paying a limited number of premiums.

For example, If you have taken LIC Jeevan Labh for 16 years term, you will have to pay for only 10 years and maturity will happen at the completion of 16 years.

Key features of LIC Jeevan Labh

  • Jeevan Labh plan is a non-linked plan. Non-linked means that return on investments are not affected to market fluctuations unlike ULIPs (Unit-linked Insurance Plans). You will not get negative returns in case of market crashes.
  • Jeevan Labh is a limited premium paying term, that means you don’t need to pay premium till maturity but you will get life cover for additional years.
  • Individuals or members of HUF can take this plan.
  • Entry age for this policy from as young as 8 years to as old as 59 years.
  • The free lookup period is 15 days from the date of receipt. If you are not satisfied with the terms and conditions of the policy, you can cancel the policy within this period along with reasons.
  • If the policy has expired, you can revive it within a period of 2 consecutive years from the date of the first unpaid premium and before the maturity date.
  • You can also take a loan against this policy.

LIC Jeevan Labh Policy Details

Jeevan Labh is a ‘limited premium’ paying endowment plan which means premium paying is less than the policy tenure. Policyholder or nominee (in case of policyholder’s death) will receive the maturity benefit together with any other benefits at the end of the policy term or on the death of the policyholder, whichever is earlier.

  • If your policy term is 16 yrs, you have to pay premiums for 10 yrs
  • If your policy term is 21 yrs, you have to pay premiums for 15 yrs
  • If your policy term is 25 yrs, you have to pay premiums for 16 yrs

Let’s have a look at all the features in the table below-

Minimum Sum Assured (SA)Rs.2 lakh, than in multiplication of Rs.10,000
Maximum Sum Assured (SA)No Limit
Minimum Entry Age8 years
Maximum Entry Age59 years (nearest birthday) for 16 years policy term


54 years (nearest birthday) for 21 years policy term

50 years (nearest birthday) for 25 years policy term

Policy Term16 years / 21 years / 25 years
Premium Paying Term10 years / 15 years / 16 years
Maximum Maturity Age75 years (nearest birthday)
Frequency of Premium PaymentYearly, Half-Yearly, Quarterly or Monthly (through ECS only or salary deductions)

You may also like to read – LIC’s New Children Moneyback Plan.

Benefits of LIC Jeevan Labh Plan

#1. LIC Jeevan Labh Interest Rate

Returns on LIC Jeevan Labh depends on the bonus rates decalred by LIC every year. If you checkout their previous bonus rates you will understand that the average interest you will receive on your investment will be between 5.5% to 6.8%.

For example, let us consider an example, Amitesh (35 years) invests in LIC’s Jeevan Labh policy. Amitesh opts for Policy term of 16 years and PPT as 10 years, the premium is Rs 17,892.
Now, he has to pay the premiums for 10 years. In the start of 17th year, he may receive the maturity benefit of Rs 3.38 Lakh (including Sum Assured, accrued bonuses and final additional bonus). You can a return of 5.6% on his investment.
The maximum return Amitesh will get in the range of 6% to 7%, if he increases the term.

Let me show you in detail with the help of this table –

#2. Maturity Benefits of Jeevan Labh Plan

On maturity of the plan, the policyholder will receive the sum of the following

  • Sum Assured
  • Bonus accrued every year (Reversionary Bonus)
  • Final Additional Bonus (if declared in that year)

For an instance, if Amitesh (we discussed in previous section) survives through the policy term – He will receive a sum assured + revisionary bonuses + Final Additional Bonus (if any).

Amitesh bought the Jeevan Labh plan for 25 years having a sum assured of Rs.2 lakh. For 25 years policy term, he has to pay premiums for 16 years but he will still get a life cover for the additional 9 years (without paying premiums).

  • Sum Assured – Rs. 2,00,000
  • Term – 25 years
  • Premium Payment Term – 16 years

Maturity Benefits will be-

LIC Jeevan Labh Plan Review (Table No 836)

#3. Death Benefits of Jeevan Labh Plan

On the death of the life assured during the policy tenure, the nominee will receive the Sum Assured on death together with the reversionary bonuses and Final Additional bonuses, if any.

However, death benefits shall not be less than 105% of the total premiums paid as on the date of death.

Let’s take the previous example again. Now assuming if Amitesh dies after 3 policy years, his nominee would get the Sum Assured + Simple Reversionary Bonus + Final Addition Bonus (if announced).

LIC Jeevan Labh Plan Review (Table No 836)

As you can see in the above table, Amitesh’s nominee will get a claim of Rs. 2,30,000 (in case of normal death)  and Rs. 4,30,000 in case of accidental death.

Additional Final bonus will be added to the claim amount if declared in that year. Let’s discuss about Rider’s benefits.

#4. Riders Benefits (Optional)

LIC Jeevan Labh comes with two riders –

#1. Accidental Death & Disability Rider

Accidental Death & Disability Rider works in two scenarios-

If the buyer opted for this rider, an amount equal to the sum assured will be payable if the death of the life assured occurs due to an accident.

In case of permanent disability due to accident, the future premium will be waived off and the amount equal to Sum Assured is payable in 10 years equal monthly installments.

#2. Term Assurance Rider

If the policyholder opted for this rider, an amount equal to term assurance rider sum assured will be payable on the death of the life assured during the policy term.

#5. Loan Facility

Loan facility is available under the LIC Jeevan Labh plan after paying 3 full year premiums. The maximum loan amount is up to 90% of surrender value (Premiums paid till date) and for paid-up policies 80% of surrender value.

Is LIC Jeevan Labh A Good Policy

If you check the policy thoroughly with the returns you would get would be around 5%-7% which is below average return. You will get better returns with PPF or mutual funds if you invest for the long term.

People gets attracted for its additonal years life cover, but if you compare it with a pure Term plan. You can get a way better life cover with term insurance by paying less premiums.

For example, if you are 35 years old and start term insurance worth Rs. 1 crore for 30 years, you will have to pay a premium around Rs. 10,000.

Let’s understand with this illustration given below –

LIC Jeevan Labh Surrender Value

You can surrender your policy after paying premium for 3 consecutive years from the activation of plan. The Guaranteed Surrender Value will be equal to the total amount of premiums paid (minus any additional charges) multiplied by the Guaranteed Surrender Value Factor.

Guaranteed Surrender Value Factor


LIC Jeevan Labh Agent Commission

LIC pays commision to its agent depending upon the term of premiums paid. The long is the term, more the commision would be. You can follow the table below for better understanding.

Premium Paying Term

1st Year Commission

2nd & 3rd year Commission

4th year Onwards

2 to 4 yr




5  to 9 yr




10 to 14 yr




15 yr & above




LIC Jeevan Labh Premium Calculator

LIC policy’s premium depends on the policyholder’s age, term and if any rider he is chosing.

Taking the same example once again. Amitesh who is 35 years old, bought the Jeevan Labh policy in 2021 for 25 years having a sum assured of Rs. 2 lakh. For 25 years policy term, Amitesh would pay premiums for 16 years, which means after 16 years he will still get a life cover for 9 years (without paying premiums).

  • Sum Assured – Rs. 2,00,000
  • Term – 25 years. Based on this the premium payment term gets decided
  • Premium Payment Term – 16 years

Premiums that he has to pay is given in the table below-

LIC Jeevan Labh Plan Review (Table No 836)

Final Review

In my opinion, with a meager annual return of 5% to 7%, this plan does not even beat inflation. Although there is a benefit of insurance coverage is beyond the years you pay the premium but only that is not worth considering.

If you are buying Jeevan Labh to save taxes then it would be better to buy ELSS Funds for the long-term. You would get better returns along with tax savings. If you want to play safe you can invest in PPF for the long term.

However, if your need is to have a life cover, you may think of buying a Term Insurance Plan.

What are your thoughts? Tell me in the comments.

16 thoughts on “LIC Jeevan Labh Review 2022: Features, Benefits & Drawbacks”

    1. I want jeevan age 55 s.a.2lakhs period 16th years
      What is the premium with all benefits maturity amount.

      1. Premiums:
        Monthly 1631
        Quarterly 4893
        Half-Yearly 9689 (after 1% discount)
        Yearly 19185 (after 2% discount)

        Total paid by you 192000
        Total Approx you will receive Rs. 343000 on Maturity.

        Special Benefit:
        Double Accident Benefit of Rs. 200,000

        Contact on 9461777754 for More details

  1. Kanchan Chakraborty

    Excellent, But i want to know that how much i can get as now my age is 42 years and want to spare 7000/pm for the policy


  2. If I take policy rs .15lac for 10 years .hw much money I pay for quarterly and wt maturity benefits I vil get after 16 years

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