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.

Read more
LIC Plans-
Buy LIC policy online hassle free
Tax saving under Sec 80C & 10(10D)^
Guaranteed maturity with life cover for securing family's future
Sovereign guarantee as per Sec 37 of LIC Act
LIC life insurance
We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold
Now Available on Policybazaar
Grow wealth through
100% Guaranteed Returns with LIC
+91
Secure
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on ''View Plans'' you, agreed to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold

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.

FAQs

  • 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:- http://bit.ly/3J20bXZ
++Returns are 10 years returns of Nifty 100 Index benchmark

LIC of India
LIC Plans
LIC Amritbaal
LIC Index Plus
LIC Jeevan Dhara II-872
LIC Jeevan Utsav
LIC Jeevan Kiran
LIC Dhan Vriddhi
LIC Monthly Investment Plans
LIC Jeevan Azad
LIC 1 Crore Endowment Plans
LIC Jeevan Labh 1 Crore
LIC Crorepati Plan
LIC Dhan Varsha - Plan No. 866
LIC Pension Plus Plan
LIC New Jeevan Shanti
LIC Bima Ratna
LIC Group Plans
LIC Fixed Deposit Monthly Income Plan
LIC Savings Plans
LIC’s New Jeevan Anand
LIC New Jeevan Anand Plan 915
LIC's Saral Jeevan Bima
LIC's Dhan Rekha
LIC Jeevan Labh 836
LIC Jeevan Jyoti Bima Yojana
LIC Child Plans Single Premium
LIC Child Plan Fixed Deposit
LIC Jeevan Akshay VII
LIC Yearly Plan
LIC Bima Jyoti (Plan 860)
LIC’s New Bima Bachat Plan 916
LIC Bachat Plus Plan 861
LIC Policy for Girl Child in India
LIC Samriddhi Plus
LIC New Janaraksha Plan
LIC Nivesh Plus
LIC Policy for Women 2024
LIC Plans for 15 years
LIC Jeevan Shree
LIC Jeevan Chhaya
LIC Jeevan Vriddhi
LIC Jeevan Saathi
LIC Jeevan Rekha
LIC Jeevan Pramukh
LIC Jeevan Dhara
LIC Money Plus
LIC Micro Bachat Policy
LIC Endowment Plus Plan
LIC Endowment Assurance Policy
LIC Bhagya Lakshmi Plan
LIC Bima Diamond
LIC Anmol Jeevan
LIC Bima Shree (Plan No. 948)
LIC Jeevan Saathi Plus
LIC Jeevan Shiromani Plan
LIC Annuity Plans
LIC Jeevan Akshay VII Plan
LIC SIIP Plan (Plan no. 852) 2024
LIC Jeevan Umang Plan
LIC Jeevan Shanti Plan
LIC Online Premium Payment
LIC Jeevan Labh Policy-936
LIC Money Plus Plan
LIC Komal Jeevan Plan
LIC Jeevan Tarang Plan
LIC Bima Bachat Plan
LIC’s New Money Back Plan-25 years
LIC Money Back Plan 20 years
LIC Limited Premium Endowment Plan
LIC Jeevan Rakshak Plan
LIC New Jeevan Anand (Previously LIC Plan 149)
LIC New Endowment Plan
LIC Varishtha Pension Bima Yojana
LIC Investment Plans
LIC Pension Plans
Show More Plans
LIC Calculator
  • One time
  • Monthly
/ Year
Sensex has given 10% return from 2010 - 2020
You invest
You get
View plans

LIC of India articles

Recent Articles
Popular Articles
Government Praises Life Insurance Corporation (LIC) in Economic Survey 2024

23 Jul 2024

3 min read

In the recently released Economic Survey 2024, Finance Minister
Read more
LIC Jeevan Utsav vs LIC Jeevan Umang

07 Jun 2024

4 min read

LIC Jeevan Utsav and LIC Jeevan Umang are two popular insurance
Read more
Review of LIC Index Plus

07 Jun 2024

2 min read

I recently bought LIC's Index Plus plan, which has provided me
Read more
LIC Versus PPF

05 Jun 2024

3 min read

When it comes to financial planning in India, two of the most
Read more
LIC Amritbaal Premium Calculator

29 Mar 2024

2 min read

LIC Amritbaal Premium and Maturity Calculator is an online tool
Read more
LIC Online Premium Payment

3 min read

The LIC Online Payment by Policybazaar enables policyholders to pay their insurance premiums online at their
Read more
10 Best LIC Plans to Invest in 2024

3 min read

Since 1956, LIC of India has offered several policies that combine insurance protection with wealth accumulation
Read more
How to Check the Maturity Amount of LIC Policies?

3 min read

The LIC maturity value is the amount payable to the policyholder upon the completion of the policy term. LIC
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL