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

LIC Jeevan Labh Plan Review (Table No 836)

Updated on 22 Jan 2020.

LIC launched Jeevan Labh Plan- 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. LIC 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.

I am going to review LIC Jeevan Labh Plan – 836 to let you take an informed decision before buying Jeevan Labh.

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

LIC Jeevan Labh Plan 836 Features and Benefits

How LIC Jeevan Labh Plan works

Pay Less – 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)

Benefits of Jeevan Labh Plan 836

#1. 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)

#2. 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.

#3. Riders/Optional Benefits

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.

Let’s understand the LIC Jeevan Labh Plan

Jatin who is 35 years old, bought the Jeevan Labh policy in 2019 for 25 years having a sum assured of Rs.2 lakh. For 25 years policy term, Jatin 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)

Calculation source:

Scenario 1:

If Jatin 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, Jatin’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.

Scenario 2:

If Jatin survives through the policy term – He will receive a sum assured + revisionary bonuses + Final Additional Bonus (if any).

Maturity Benefits will be-

LIC Jeevan Labh Plan Review (Table No 836)

Calculation source:


Other benefits of LIC Jeevan Labh Plan

  1. After min. three full years premiums payments, LIC Jeevan Labh Plan subsists as a paid-up policy.
  2. You can surrender the policy after paying min. three full-years premium payments.
  3. Loan facility is available under the LIC Jeevan Labh plan after paying 3 full year premiums. Maximum loan amount -90% of surrender value (Premiums paid till date) and for paid-up policies 80% of surrender value.
  4. 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.
  5. 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.

LIC Jeevan Labh Plan (Table 836) – Should I buy?

In my opinion, this plan will not suffice the purpose of buying with a meager annual return of 4% to 5%, 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.

Rather, you should invest in other debt instruments like Mutual Funds (ELSS), or Public Provident Fund, and Sukanya Samriddhi Account. That gives a better return than this plan and also gives a tax-free return with 80C deduction on the contribution.

What are your thoughts? Tell me in the comments.

17 thoughts on “LIC Jeevan Labh Plan Review (Table No 836)”

    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


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