✦ LIC Jeevan Labh Plan
LIC’s Jeevan Labh (Plan 736)
Limited-premium endowment plan — pay for fewer years, enjoy life cover for the full term and receive a lump sum at maturity with bonuses.
Personal Details
Basic information for your policy calculation
Optional — appears in your summary report
8–59 years (nearer birthday) · Max varies by term (16yr→59, 21yr→54, 25yr→50)
Optional — auto-fills Age at Entry when provided
Auto-calculated: Age at Entry + Policy Term
Policy Details
Limited premium · Pay less years · Cover entire term · Results in seconds
⚠ Important: Bonus rates (Simple Reversionary & Final Additional Bonus) are not guaranteed. They are declared annually by LIC based on actual experience. This calculator uses LIC’s published benefit illustration rates for indicative purposes only. Actual premium may vary based on underwriting. Consult your LIC agent before purchase.
Your Premium Summary
Limited premium plan — pay for PPT years, covered for full policy term
Per Instalment
₹0
every yearly incl. GST
Maturity Benefit
₹0
at end of term
IRR (Est. Return)
—%
pre-tax CAGR
PPT / Term
— / — Yrs
matures in —
Premium Breakdown
Premium-free period: after PPT years, no further premiums are due — your policy continues with full life cover until maturity.
Maturity Benefit Breakdown
Payable on survival to policy term end
Basic Sum Assured (BSA)
₹0
Simple Reversionary Bonus
₹0
Final Additional Bonus (FAB)
₹0
🏆 Total Maturity Value
₹0
Death Benefit (Life Cover)
Payable to nominee on death during policy term (including premium-free period)
Sum Assured on Death
₹0
Vested Simple Reversionary Bonus (accrued to death year)
₹0
Final Additional Bonus (FAB)
₹0
105% of Premiums Paid (Floor Check)
₹0
🛡️ Total Death Benefit
₹0
Death benefit is payable throughout the entire policy term — including during the premium-free period after PPT. Death benefit = Higher of (SA on Death + bonuses + FAB) or 105% of total premiums paid.
Jeevan Labh Feature — Limited Pay Advantage
Pay premiums for only PPT years — enjoy full life cover and accumulation for the entire policy term.
You Pay
— Yrs
Premium Paying Term
→
Life Cover
— Yrs
Full Policy Term
→
At Maturity
₹0
BSA + Bonus + FAB
Premium-Free Period
— Years
Total Premiums Paid (excl. GST)
₹0
Maturity vs Premiums Paid
—×
Guaranteed Surrender Values
Policy acquires surrender value after 2 full years of premium payment
GSV (End of Year 2)
₹0
GSV (End of Year 3)
₹0
GSV (Years 4–7)
₹0
GSV at Mid-Term
₹0
Actual surrender value = higher of GSV or Special Surrender Value (SSV). Loan available after 2 full years of premium payment.
Year-Wise Benefit Illustration
Scroll horizontally on mobile · Maturity year highlighted · 🟢 = Premium-Free Year
| Year | Age | Cum. Premium Paid | Accrued Bonus | Death Benefit | GSV | Maturity Value |
|---|
🟢 Premium-Free Year — No premium due after PPT. Life cover continues. Death benefit remains payable until maturity.
Premiums vs Returns — Visual Breakdown
How your limited premiums grow into a lump sum maturity benefit
Total Premiums Paid
Bonus & FAB Earned
Key Policy Numbers
Quick snapshot of your investment outcome
—%
IRR (Est. CAGR)
—×
Maturity Multiple
₹0
Net Gain
₹0
Total Invested
⚠ Disclaimer: Premium figures shown are based on LIC’s published illustrative rates for standard lives and may differ for non-standard / medical cases. Bonus rates are not guaranteed — they are declared annually by LIC of India. GST @ 4.5% is applicable on Year 1 premiums and 2.25% on Year 2+ premiums. This calculator is for educational and planning purposes only. Please consult a licensed LIC agent or financial advisor before making any insurance purchase decision.
LIC Jeevan Labh Plan 736 Calculator — Limited Pay Endowment with Bigger Returns
LIC’s Jeevan Labh (Plan No. 736) is a popular limited-premium endowment plan — meaning you pay premiums for a shorter Premium Paying Term (PPT), while your life cover and bonus accumulation run for the full, longer policy term. It is a Participating, Non-Linked plan that combines guaranteed death protection with savings growth through annual bonuses and a Final Additional Bonus (FAB) at maturity.
Key Advantage: With Jeevan Labh, you pay for only 10, 15, or 16 years, but stay covered and keep accumulating bonuses for 16, 21, or 25 years respectively — giving you a potentially larger maturity corpus while your premium commitment ends earlier.
Plan 736 at a Glance — Quick Facts
| Parameter | Details |
|---|---|
| Plan Name & Number | LIC Jeevan Labh · Plan 736 |
| UIN | 512N304V02 |
| Plan Type | Participating (With-Profits) · Non-Linked Endowment |
| Premium Type | Limited Premium Payment (PPT < Policy Term) |
| Policy Terms Available | 16 years / 21 years / 25 years (only 3 fixed options) |
| Premium Paying Term (PPT) | 10 yrs (for 16-yr term) · 15 yrs (for 21-yr term) · 16 yrs (for 25-yr term) |
| Entry Age | Minimum 8 years · Maximum 59 yrs (16-yr), 54 yrs (21-yr), 50 yrs (25-yr) |
| Maximum Maturity Age | 75 years |
| Minimum Sum Assured | ₹2,00,000 · No maximum limit |
| SA Multiples | ₹10,000 (up to ₹4L) · ₹50,000 (above ₹4L) |
| Riders Available | ADDB · AB · NTAR · PWBR |
| Loan Facility | Available after 2 full years of premium payment |
The 3 Policy Term Options — Side-by-Side
16 Years
PPT: 10 Years
Pay for10 yrs
Covered for16 yrs
Premium-free6 yrs
Max entry age59 yrs
21 Years
PPT: 15 Years · Most Popular
Pay for15 yrs
Covered for21 yrs
Premium-free6 yrs
Max entry age54 yrs
25 Years
PPT: 16 Years
Pay for16 yrs
Covered for25 yrs
Premium-free9 yrs
Max entry age50 yrs
How Premium Calculation Works
LIC Jeevan Labh uses a standard tabular premium system with three adjustments applied sequentially:
- Tabular Annual Premium — a rate per ₹1 lakh BSA, varying by age and policy term, looked up from LIC’s actuarial rate table.
- Mode Rebate — deducted for yearly (2%) or half-yearly (1%) payment. Quarterly and monthly attract no rebate.
- High SA Rebate — deducted for larger Sum Assured: 2‰ for ₹5L–₹10L; 3.5‰ for ₹10L and above.
The resulting Net Annual Premium is then divided by the mode frequency (1/2/4/12) to get the instalment amount. GST is added at 4.5% in Year 1 and 2.25% from Year 2 onwards.
Maturity Benefit Formula
On survival to the end of the policy term, you receive:
- Basic Sum Assured (BSA) — the full guaranteed amount
- + Vested Simple Reversionary Bonuses — declared by LIC each year; accrues over the entire policy term (not just PPT)
- + Final Additional Bonus (FAB) — a one-time terminal bonus declared at maturity/death for policies in force for a minimum number of years
Important: Bonuses accrue for the full policy term — not just for the PPT. So a 25-year policy earns bonuses for 25 years even though you only pay premiums for 16 years. This is one of Jeevan Labh’s core advantages.
Death Benefit
In case of death during the policy term (including the premium-free period), the nominee receives:
- Sum Assured on Death = Higher of BSA or 10× annualized premium (age < 45) / 7× annualized premium (age ≥ 45)
- + Vested Bonuses (accrued up to the year of death)
- + Final Additional Bonus (if applicable)
- Floor: Total death benefit is always ≥ 105% of total premiums paid
Premium-Free Period Protection: Even after the PPT ends and no more premiums are due, the full death benefit remains active until the policy matures. Your family is protected throughout.
Worked Example — Age 30, ₹10 Lakh SA, 25-Year Term
| Item | Amount |
|---|---|
| Entry Age | 30 years |
| Basic Sum Assured | ₹10,00,000 |
| Policy Term | 25 years (PPT: 16 years) |
| Premium Mode | Yearly |
| Tabular Annual Premium (est.) | ₹55,400 |
| Mode Rebate (2%) | −₹1,108 |
| SA Rebate (3.5‰ × ₹10L) | −₹3,500 |
| Net Annual Premium | ₹50,792 |
| Year 1 Instalment (incl. 4.5% GST) | ₹53,078 |
| Year 2+ Instalment (incl. 2.25% GST) | ₹51,935 |
| Total Premiums Paid (16 yrs × ₹50,792) | ₹8,12,672 |
| Premium-Free Period | Years 17–25 (9 years) |
| Estimated Maturity Benefit (Medium scenario) | ₹25,50,000+ |
| Estimated IRR | ~5.8–6.2% p.a. |
Note: Bonus figures are illustrative. Use the calculator above for your exact premium and maturity estimate.
Premium-Free Period — Year-Wise Snapshot (Age 30, ₹5L SA, 25-Year Term)
| Year | Age | Cum. Premium Paid | Premium Due? | Death Benefit (approx.) |
|---|---|---|---|---|
| 1 | 31 | ₹25,400 | ✓ Yes | ₹5,11,000+ |
| 5 | 35 | ₹1,27,000 | ✓ Yes | ₹5,55,000+ |
| 10 | 40 | ₹2,54,000 | ✓ Yes | ₹6,10,000+ |
| 16 | 46 | ₹4,06,400 | ✓ Last year | ₹6,82,000+ |
| 17 | 47 | ₹4,06,400 (no change) | 🟢 No — Premium-Free | ₹7,04,000+ |
| 21 | 51 | ₹4,06,400 (no change) | 🟢 No — Premium-Free | ₹7,46,000+ |
| 25 | 55 | ₹4,06,400 (total) | 🏆 Matures | ₹12,75,000+ (maturity) |
SA Rebate Table
| Sum Assured Range | SA Rebate | Annual Saving on ₹5L SA |
|---|---|---|
| ₹2,00,000 to ₹4,99,999 | Nil | ₹0 |
| ₹5,00,000 to ₹9,99,999 | 2‰ of BSA | ₹1,000 |
| ₹10,00,000 and above | 3.5‰ of BSA | ₹3,500 per ₹10L |
Available Riders
🛡️ ADDB Rider (UIN: 512B209V02)
Accidental Death & Disability Benefit Rider. Pays a lumpsum on accidental death; monthly instalments over 10 years on accidental disability.
🛡️ AB Rider (UIN: 512B203V03)
Accident Benefit Rider. Additional lump sum on accidental death only. Mutually exclusive with ADDB — opt for one or the other.
📋 NTAR (UIN: 512B210V02)
New Term Assurance Rider. Provides additional pure term cover. Rider SA cannot exceed the Basic Sum Assured. Available at inception only.
🔒 PWBR (UIN: 512B204V04)
Premium Waiver Benefit Rider. Waives future base premiums if the proposer dies or becomes disabled during the PPT. Ideal for policies taken on a child’s life.
Surrender Value & Loan
After paying at least 2 full years of premiums:
- The policy acquires a Guaranteed Surrender Value (GSV) — a percentage of total premiums paid plus a percentage of vested bonuses.
- You may also be eligible for a Special Surrender Value (SSV), which is generally higher and is reviewed annually by LIC.
- A policy loan of up to 90% of the surrender value is available without surrendering the policy.
⚠ Caution: Surrendering before completing the PPT significantly reduces the value received and forfeits all future bonuses and FAB. It is always advisable to make the policy paid-up or take a loan rather than surrender early.
Tax Benefits
- Section 80C: Annual premiums are eligible for deduction up to ₹1.5 lakh per year.
- Section 10(10D): Maturity and death proceeds are generally tax-free, subject to conditions (BSA ≥ 10× annual premium for policies issued after April 2012).
- GST paid on premiums is not eligible for 80C deduction.
Jeevan Labh 736 vs Jeevan Lakshya 733 — Key Differences
| Feature | Jeevan Labh 736 | Jeevan Lakshya 733 |
|---|---|---|
| Death Benefit Type | Lump sum (SA + Bonus + FAB) | Annual income (10% SA/yr) + lump sum at maturity |
| Policy Terms | 16 / 21 / 25 years (fixed) | 13–25 years (continuous range) |
| PPT | Fixed lookup: 10 / 15 / 16 yrs | Term − 3 years (formula) |
| PWBR Rider | ✓ Available | ✗ Not available |
| Best For | Wealth accumulation + protection | Goal-based planning (child’s education/marriage) |
Who Should Buy LIC Jeevan Labh?
- Working professionals (age 25–45) who want to stop premium payments while still young but build a large maturity corpus over 21–25 years.
- Parents taking a policy now (e.g., age 30) for a 25-year term so the maturity coincides with retirement.
- Risk-averse investors who prefer guaranteed BSA plus LIC bonus declarations over market-linked returns.
- Anyone seeking Section 80C + Section 10(10D) tax efficiency with a conservative debt-like return profile.
Frequently Asked Questions
What happens if I miss a premium after the PPT ends?
Nothing — once the PPT is complete, no further premiums are ever due. The policy automatically enters the premium-free period. Your life cover continues and bonuses keep accruing until the maturity date.
Can I take a loan against my Jeevan Labh policy?
Yes. After 2 full years of premium payment, you can avail a loan up to 90% of the Surrender Value. The interest rate is set by LIC at the time of the loan. You do not need to surrender the policy — it remains in force while the loan is outstanding.
Are the bonus rates guaranteed in Jeevan Labh?
No. Simple Reversionary Bonus and Final Additional Bonus (FAB) are not guaranteed — they are declared annually by LIC based on actual fund performance and actuarial experience. However, once a bonus is declared and vested, it cannot be taken away. LIC has historically declared bonuses every year without interruption.
Can a child be insured under Plan 736?
Yes. The minimum entry age is 8 years (nearer birthday). For a child’s policy, the PWBR (Premium Waiver Benefit Rider) is strongly recommended — it waives future premiums if the proposer (parent/guardian) dies or becomes disabled, ensuring the policy remains in force.
Why are only 3 policy terms available — not a continuous range like other plans?
LIC’s Jeevan Labh (Plan 736) was specifically designed with three distinct PPT-to-term combinations (10/16, 15/21, 16/25) to align with common financial planning horizons — a 10-year payment for a moderate 16-year term, a 15-year payment for a mid-range 21-year term, and a 16-year payment for the full 25-year term. This gives planners clear, well-defined options rather than an open-ended range.
What is the expected IRR (return) from Jeevan Labh Plan 736?
Based on LIC’s published benefit illustration scenarios (4% and 8% assumed returns), the internal rate of return (IRR) for Jeevan Labh typically falls in the range of 5.0% – 6.5% p.a. pre-tax for the 25-year term at medium bonus assumptions. Shorter terms and younger entry ages generally yield better IRRs due to higher bonus accumulation relative to premiums. Use the calculator above for a precise IRR estimate for your specific inputs.
⚠ Disclaimer: All premium figures and maturity estimates are indicative and based on LIC’s published illustrative rates. Actual premiums may vary for non-standard or medical cases. Bonus rates are not guaranteed and are declared annually by LIC of India. This content is for educational purposes only — please consult a licensed LIC agent or IRDAI-registered financial advisor before purchasing any insurance policy.
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Mohibul Islam is an LIC agent with 7+ years of experience. He also works in web development and blogging. He creates simple tools on LIC Plan Calculator to help people understand LIC plans, calculate benefits, and make better financial decisions easily.