LIC Jeevan Labh versus LIC Jeevan Lakshya

LIC Jeevan Labh and LIC Jeevan Lakshya are traditional endowment insurance policies offered by LIC that combine protection and savings benefits. While Jeevan Labh provides a lump-sum payout at maturity, Jeevan Lakshya offers a regular income annually in addition to maturity benefits. Let us thoroughly understand the plan, its benefits and how they differ to help you make an informed decision.

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LIC Jeevan Lakshya

LIC Jeevan Lakshya 933 is designed to offer a financially secure future for the policyholder's family. An essential aspect of this plan is its annual income benefit provided to the dependents in the event of the policyholder’s unfortunate demise. Further, LIC offers a maturity benefit on surviving the duration of the policy term.

Key Features of LIC Jeevan Lakshya:

  • If the policyholder dies while the policy is still in force, assigned nominees are eligible to receive the sum assured on deaths.

  • The annual income benefit scheme offers the nominees a sum equal to 10% of the basic sum assured every year till the date of maturity following the policyholder's death.

  • If the life assured survives the duration of the policy, they are entitled to an amount equal to the basic sum assured as a maturity benefit.

  • This participates in the company's profits, entitling one to receive additional bonuses and the sum assured on death or maturity.

  • One can avail of the following riders for enhanced protection:

    • LIC Accidental Death and Disability Benefit Rider

    • LIC Accident Benefit Rider

    • LIC New Term Assurance Rider

    • LIC New Critical Illness Benefit Rider

LIC Jeevan Labh

LIC Jeevan Labh- 936 is a limited premium insurance policy that offers assured benefits. If you wish to secure your family's future financially, the plan pays the sum assured on death to your family as the Death Benefit. The policy also offers a loan facility that you can avail of for urgent financial requirements.

Key Features of LIC Jeevan Labh

LIC Jeevan Labh vs LIC Jeevan Lakshya: Common Features

Despite their unique characteristics, both plans share some common features. Here, we will highlight these standard features:

  • Endowment Policies: Both fall under endowment insurance policies. This means they combine life insurance coverage with a savings benefit, offering financial security to policyholders and their families.

  • Maturity Benefit: Policyholders receive a maturity benefit at the end of the policy term in both plans. The maturity benefit includes the sum assured, accrued bonuses, and final additional bonuses, if applicable. This lump-sum payout can be used to meet various financial goals.

  • Death Benefit: In the unfortunate event of the policyholder's demise during the policy term, both plans provide a death benefit. The nominee receives the sum assured along with any accrued bonuses and final additional bonuses. Additionally, LIC Jeevan Lakshya offers an annual income benefit until the end of the policy term, providing financial support to the family.

  • Premium Payment Term: Both plans offer flexibility in premium payment terms. 

LIC Jeevan Labh vs LIC Jeevan Lakshya

Take a look at the table below to get an insight into LIC Jeevan Labh vs LIC Jeevan Lakshya

Parameters LIC Jeevan Lakshya LIC Jeevan Labh
Annual Income Benefit 10% of the Basic Sum Assured NA
Age At Entry Minimum: 18 years. Maximum: 50 years Minimum: 8 years.  Maximum: 59 years
Maximum Maturity Age 65 years 75 years
Policy Term 13 to 25 years 16/ 21/ 25 years
Premium Paying Term Policy term minus 3 years Limited (10/ 15/ 16 years)
Death Benefit  Higher of 7 times the annual premium or 110% of the Basic Sum Assured Higher of: 7 times the annual premium; or Basic Sum Assured
Minimum Sum Assured Rs.1,00,000 Rs.2,00,000

LIC Jeevan Labh vs LIC Jeevan Lakshya: Sample Illustration

To estimate the kind of benefits receivable under LIC Jeevan Labh vs LIC Jeevan Lakshya, we have considered a sample 35-year-old person who has assured a sum of Rs. 5 lakhs. Based on the policy term and the premium paying term demonstrated in the table below, we have calculated the maturity benefits against each plan.

Features LIC Jeevan Lakshya LIC Jeevan Labh
Age 35 years 35 years
Sum Assured Rs.5 Lakhs Rs.5 Lakhs
Policy Term 25 years 25 years
Premium Paying Term 22 years 16 years
Annual Premium Rs.21,589 Rs.23,110
Total Premium Amount Rs.4,75,433 Rs.3,70,268
Maturity Benefit Rs.13,37,500 Rs.13,50,000

As indicated in the table above, despite the total premium amount being significantly higher for LIC Jeevan Lakshya, the maturity benefit is higher in the case of LIC Jeevan Labh is higher. Please note that each plan's premium paying term differs per the chosen policy term. This illustration should not be construed as definitive, and one should carefully evaluate their options after careful research. 

Wrapping Up!

LIC Jeevan Lakshya 933 vs LIC Jeevan Labh 936 are based on comprehensive insurance for potential buyers. However, as highlighted above, these two plans come with unique features that serve to fulfil the varying needs of policyholders. Read the policy documents thoroughly, compare both the plans and choose the plan that aligns better with your needs.


  • Q: What factors should I consider when deciding between LIC Jeevan Labh vs LIC Jeevan Lakshya?

    Ans: Before buying either plan, consider premium affordability, policy terms, and financial goals. Assess whether you prefer periodic payouts or a lump-sum maturity benefit, and make an informed decision.
  • Q: What is LIC Jeevan Labh, and how does it differ from LIC Jeevan Lakshya?

    Ans: Both Plans are life insurance policies offered by LIC. Jeevan Labh is a limited premium endowment plan, whereas Jeevan Lakshya is a traditional participating endowment plan. The main difference is in their features and benefits.
  • Q: Among LIC Jeevan Labh vs LIC Jeevan Lakshya, Which policy better suits long-term savings and protection needs?

    Ans: The choice between two for long-term savings and protection needs depends on individual preferences and financial goals. Jeevan Labh offers a lump-sum maturity benefit, which may appeal to those who prefer a single substantial payout. In contrast, Jeevan Lakshya provides periodic payouts, suitable for those looking for regular income alongside protection.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-
++Returns are 10 years returns of Nifty 100 Index benchmark

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