936 - New Jeevan Labh

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936 New Jeevan Labh

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LIC New Jeevan Labh Plan-one of the best money back policy by LIC India.

LIC's Jeevan Labh is a limited premium paying, non-linked, with-profits endowment plan which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility.

New Jeevan Labh (936) is a Limited premium paying, non-linked, with-profits Endowment Assurance Plan

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Four major elements that we offer:

  • Limited Premium
  • Life Cover to the extent of Sum Assured
  • A conventional with profits assurance plan
  • Attractive Combination of protection and Savings

Benefits


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Payable On Maturity

On survival to the end of the policy term, Basic Sum Assured (SA) +

Simple Bonus +

Final Additional Bonus (FAB).

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Payable In Case Of An Unfortunate Event :

On death during the policy term, Sum Assured (SA) on Death +

Simple Bonus +

Final Additional Bonus (FAB).

Note: Sum Assured on Death will be higher of Basic SA or 10 times of Annual Premium.
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GRACE PERIOD TO PAY PREMIUM:

31 or 30 days (depends on calendar month) for YLY, HLY and QLY payment modes.

15 days grace period for Monthly Mode of Premium Payment.

Note: If premium is not paid before the expiry of the grace period, then the policy lapses.

ELIGIBILITY AND CONDITIONS

Minimum and Maximum Age at entry
(8-59) years
Term Minimum and Maximum
(16, 21, 25) years
Sum Assured Mim and Max
2,00,000 - No limit
Maturity Age
75 years(Max)
Payment Modes
YLY, HLY, QLY and MLY(ECS)

FOR ACCIDENT AND DISABILITY BENEFIT

Minimum and Maximum Age at entry
18-65 years
Minimum Benefit
10,000
Covered upto
70 years

LOAN

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Loan facility Available after 3 full years premium payment.

SURRENDER

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The policy can be surrendered (closed) only after 3 full years payment of premiums.


REBATE (Deduction on Premium Payment)


A) Mode Rebate :

Yearly Mode
2% of tabular premium
Half-yearly Mode
1% of Tabular premium
Qly and Mly
-Nil-


TIP : Better To Go With YLY Mode of Premium Payment.(REASON : Monthly Premium * 12 times will be greater than YLY Premium)

B) Sum Assured Rebate :

2,00,000 to 4,90,000 SA
Nil
5,00,000 to 9,90,000 SA
1.25% on Basic Sum Assured
10,00,000 to 14,90,000 SA
1.5% on Basic Sum Assured
15,00,000 to No Limit SA
1.75% on Basic Sum Assured

Documents Required :

Documents Accepted
Aadhar Card / Ration Card / Election Card / Govt Id card Pan Card / Driving Licence / School or College Certificate
Compulsory Documents
2 Photos +(Address and Age) Proof + Income Tax Returns(Optional)