Is LIC Jeevan Labh a good policy?Asked by: Ms. Melyna Jast | Last update: February 11, 2022
Score: 4.9/5 (29 votes)
To add to it, the LIC Jeevan Labh Plan offers death as well as maturity benefits with additional profit participation bonus. This plan has been rated high as one of the best-selling endowment plans offered by LIC. Being available to a group age of 8-59 years, this plan offers a host of benefits to the policyholder.
Is Jeevan Labh 936 a good policy?
LIC Jeevan Labh (Plan No: 936) is one of the effective life insurance plans offered by the Life Insurance Corporation of India. ... It also provides financial support to the family the needful in case of insured's miserable demise. People from the age group of 8-59 years can take advantage of this plan.
Is Jeevan Labh returns guaranteed?
I have done a calculation to find out the rate of return you are getting from the LIC Jeevan Labh. To my surprise, The LIC is giving a guaranteed return of only 2.13%.
Is Jeevan Labh 836 a good policy?
Comprehensive life insurance cover. Death benefit payable to surviving dependants / nominees on the policyholder's death, and maturity benefits payable if the policyholder survives the term of the policy. Premiums are very affordable, and the policy offers comprehensive coverage. Multiple Sum Assured options.
Is there any LIC policy for 16 years?
The LIC Jeevan Labh policy can be purchased any individual in the age group of 8-59 years if the policy term is for 16 years. The minimum sum assured for LIC's Jeevan Labh policy is ₹ 2 lakh and there is no maximum limit for the quantum of sum assured, according to the LIC website.
LIC Jeevan Labh 936 : With Example on 2 Lacs Sum Assured
How can I be a LIC agent?
- Contact the right individuals. Get in touch with the nearest LIC branch in your city and contact the Development Officer. ...
- Participate in an interview. ...
- Complete training. ...
- Pass the examination. ...
- Obtain licensing. ...
- Complete reporting.
How LIC maturity is calculated?
How is Maturity Calculated? The exact Maturity Value cannot be calculated but one can calculate a close estimate of the value to get an idea of the benefit at the end of the term. The basic format is Sum Assured + Bonuses + Final Additional Bonus (if declared).
Is Jeevan Labh taxable?
Yes, the premiums paid towards LIC's Jeevan Labh policy are exempted from income tax under Section 80C of the Income Tax Act, 1961. Besides, the maturity amount receivable is also tax free under Section 10(10D) of the Income Tax Act, 1961.
What is the difference between Jeevan Labh 836 and 936?
The initial version of the Jeevan Labh plan having plan number 836 was revised with effect from 1st February and was renamed as Jeevan Labh 936. LIC's Jeevan Labh (T 936) is an endowment type of plan with a shorter or limited premium payment period.
Can I take Jeevan Labh on online?
LIC Jeevan Labh Online
Pay premium for short term and enjoy life cover for longer term without premium payment.
Is LIC better than FD?
Fixed deposit is always a better option to invest as it is purely designed for your investment and savings related needs. ... Fixed deposits are best for both short- and medium-term investments whereas life insurance plans are designed for long term investments.
Which is the cheapest LIC plan?
Not only LIC of India's new term plan Jeevan Amar is much cheaper than its just withdrawn Amulya Jeevan Plan, but it is also more flexible and has much wider features. ... As Jeevan Amar is a term plan, it is a without profit plan and is also a non-linked plan.
Which is the best saving scheme?
- National Savings Certificate.
- Senior Citizen Savings Scheme.
- Recurring Deposits.
- Post Office Monthly Income Scheme (MIS)
- Public Provident Fund (PPF)
- KVP (Kisan Vikas Patra)
- Sukanya Samriddhi Yojana (SSY)
- Atal Pension Yojana.
Which bank PPF is best?
State Bank of India (SBI), which is the largest bank in the country, offers the PPF scheme with a good interest rate. SBI has over 15,000 branches in India, therefore, getting access to the scheme is easy.
What is Fab LIC?
Final Additional Bonus (FAB) is a one-time additional bonus, which is paid along with the maturity amount of participating (with profit) policies. FAB is paid in addition to the simple reversionary bonus declared and added to the policy account.
What is the rate of return in LIC policy?
The average return on investment for LIC over a period of ten years between 2005-2006 and 2014-2015 has been 6.7%. The average return on a ten-year bond has been 7.9%. The difference between the two returns is 120 basis points. In fact, the average rate of inflation between 2005-2006 and 2014-2015 was 8.85%.