Insurance and savings are essential parts of financial planning. LIC Jeevan Labh Plan 936 is one such insurance plan by LIC India that combines insurance protection with disciplined savings.

What is LIC Jeevan Labh Plan 936?

LIC Jeevan Labh Plan 936 is a limited premium paying, with-profits endowment insurance plan offered by the Life Insurance Corporation of India. It is designed to offer financial protection to the policyholder’s family in case of an unfortunate event and also provides a maturity benefit on survival till the end of the policy term.

• It is a traditional non-linked plan, where returns are not linked to the stock market.
• Offers a combination of insurance coverage and savings through bonuses.
• Provides higher bonuses compared to some other LIC plans.
• It has limited premium payment terms, which means you pay premiums for fewer years than the total policy term.
• You can avail optional riders like accidental death benefit, critical illness, premium waiver, and term assurance rider.

Launch and Withdrawal Dates

• Launch Date: LIC Jeevan Labh Plan 936 was launched on 1st February 2020.
• Withdrawal Date: The plan was withdrawn on 1st October 2024 and is no longer available for new policy purchases.

Knowing these dates is important if you want to check the status or maturity details of an existing policy or want to calculate benefits from a purchased plan.​

Eligibility Criteria

Parameter	Details
Minimum Entry Age	8 years (completed)
Maximum Entry Age	59 years (for 16-year term)
	54 years (for 21-year term)
	50 years (for 25-year term)
Maximum Maturity Age	75 years
Policy Term Options	16, 21, and 25 years
Premium Payment Terms	10, 15, and 16 years depending on term
Basic Sum Assured	₹2,00,000 and above (in multiples of 10,000)

Features of LIC Jeevan Labh Plan 936

• Limited Premium Payment: Pay premiums for only 10, 15, or 16 years according to the policy term.
• Life Cover: Provides financial security to dependents in case of the policyholder’s death during the term.
• Bonuses: Enjoy simple reversionary bonuses declared annually and a final additional bonus on maturity.
• Loan Facility: Available after payment of at least 2 full years’ premiums.
• Surrender Value: Policyholders can surrender the policy after paying premiums for 2 years.
• Tax Benefits: Premiums paid under this plan are eligible for tax deduction under Section 80C. The maturity proceeds are also tax-free under Section 10(10D) of the Income Tax Act.
• Settlement Option: Maturity benefits can be paid in installments spread over 5, 10, or 15 years if opted.
• Riders: Optional riders to enhance coverage include accidental death, disability benefit, term assurance, and premium waiver.

Benefits of LIC Jeevan Labh Plan 936

Maturity Benefits

If the insured survives the policy term, the maturity benefit paid includes:

• Basic Sum Assured
• Accumulated Simple Reversionary Bonuses declared each year
• Final Additional Bonus (if any)

Death Benefits

In case of death during the policy term, the nominee receives:

• Higher of Basic Sum Assured or 7 times the annualized premium
• Accumulated Simple Reversionary Bonuses up to death
• Final Additional Bonus (if any)

Riders Benefits (Optional)

• Accidental Death and Disability Benefit: Provides additional sum assured in case of accidental death. For permanent disability due to accident, premiums for the base plan and rider are waived, and monthly installments paid over 10 years.
• Term Rider: Additional sum assured payable on death during the policy term.

Using the LIC Jeevan Labh Plan 936 Calculator

Understanding the exact benefits and premiums of the plan tailored to your details can be a bit complicated. LIC Jeevan Labh Plan 936 calculator simplifies this by helping you calculate premiums, maturity, and death benefits quickly.

What Does the Calculator Do?

• Calculates the yearly premium based on your age, sum assured, and policy term.
• Estimates maturity benefits including accumulated bonuses.
• Shows death benefit projections depending on sum assured and premiums paid.
• Helps evaluate rider premiums if any optional rider is added.

How to Use the Calculator

1. Enter Your Age: Make sure it falls within eligibility (8-59 years).
2. Select Policy Term: 16, 21, or 25 years.
3. Choose Premium Payment Term: Automatically set based on policy term (10, 15, or 16 years).
4. Input Basic Sum Assured: Minimum ₹2,00,000.
5. Select Payment Frequency: Yearly, half-yearly, quarterly, or monthly.
6. Add Riders: If you wish, select optional riders for additional coverage.
7. Calculate: The calculator displays premium amount, maturity benefits, and death benefits.

Using this tool allows you to plan effectively and understand the financial commitment and returns before purchasing the policy.​

Premium Payment Modes and Rebates

You can pay premiums monthly, quarterly, half-yearly, or yearly. There are rebates (discounts) for timely and bulk payments:

Premium Mode	Rebate Percentage
Yearly	2%
Half-Yearly	1%
Quarterly	None
Monthly	None

Higher sum assured values may also attract additional rebates.​

Loan and Surrender Facilities

• Loan: Policyholders can avail loans against the policy after payment of premiums for at least 2 years.
• Surrender: You may surrender the policy after payment of premiums for at least 2 years. The surrender value is calculated based on premiums paid and bonuses accumulated.

These facilities make the plan flexible in times of liquidity needs.​

Important Points to Remember

• The plan offers a “free look period” of 30 days from receipt of the policy document to opt out if not satisfied.
• If premiums stop after paying 1 year, the policy gets converted into a paid-up policy with reduced benefits.
• The plan offers tax benefits under Sections 80C and 10(10D).
• The policyholder must pay all premiums before maturity to get full benefits.
• Since the plan has been withdrawn since October 2024, new policies cannot be purchased, but existing policies will continue until maturity or claim.

Summary of LIC Jeevan Labh Plan 936

Feature	Detail
Plan Type	Limited Premium Paying Endowment Plan
Launch Date	1st February 2020
Withdrawal Date	1st October 2024
Entry Age	8 to 59 years
Policy Term	16, 21, 25 years
Premium Payment Term	10, 15, 16 years
Minimum Sum Assured	₹2,00,000
Premium Payment Modes	Yearly, Half-yearly, Quarterly, Monthly
Bonuses	Simple Reversionary + Final Additional
Loan Facility	After 2 years premium payment
Surrender Facility	After 2 years premium payment
Riders Available	Accidental Death, Term Rider, Premium Waiver
Tax Benefit	Yes (under 80C and 10(10D))

Frequently Asked Questions

Conclusion

LIC Jeevan Labh Plan 936 is a reliable and traditional endowment plan providing a balanced blend of insurance and savings. Although the plan was withdrawn in October 2024, it remains significant for policyholders already holding this insurance, providing security and maturity benefits.

The LIC Jeevan Labh plan 936 calculator is an essential tool to help you understand premiums, maturity value, and death benefits based on your inputs. Using the calculator allows you to make an informed financial decision suited to your needs.