LIC Jeevan Labh vs 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.

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
10.5 Crore
Registered Consumer
51
Insurance Partners
5.3 Crore
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
10.5 Crore
Registered Consumer
51
Insurance Partners
5.3 Crore
Policies Sold

Let us thoroughly understand the plan, its benefits and how they differ to help you make an informed decision. 

LIC Jeevan Labh Plan

LIC Jeevan Labh 736 is a limited premium payment 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 Plan:

Beneficiaries are entitled to the sum assured on death of the life guaranteed. The death benefit received is a Sum Assured plus a vested simple reversionary bonus and a final additional bonus.

Policyholders can receive death and maturity benefits in installments for 5, 10, or 15 years.

Based on LIC’s financial valuation, the plan entitles policyholders to receive a part of the profits made by the company in the form of bonuses.

One can avail of the following riders for enhanced protection:

LIC Jeevan Lakshya Policy

LIC Jeevan Lakshya 733 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 death.

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.

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 Hub

The LIC of India offers an array of insurance and investment products to cater to the needs of a diverse range of customers. Let us take a look at the various types of plans offered by Life Insurance Corporation of India:

  • Tax Saving
  • Investment Plans
  • Senior Citizens
  • Kids Plan
  • Women

LIC for TAX Saving:

Enjoy the dual benefit of tax deductions under Section 80C and comprehensive insurance coverage with LIC’s tax-saving policies.

Best LIC for Investment:

Explore LIC's top-performing plans, which provide the perfect blend of investment growth and insurance protection to achieve your financial aspirations.

LIC for Senior Citizens:

Ensure a peaceful and financially stable retirement with LIC plans offering guaranteed returns, life cover, and regular income options.

LIC for Kids:

Protect and plan your child’s education, marriage, and future goals with LIC’s specialized child insurance plans that combine savings and life cover.

LIC for Women:

LIC offers plans tailored for women, focusing on their unique needs. These plans include savings, life cover, and financial independence to secure a brighter future.

LIC Jeevan Labh vs LIC Jeevan Lakshya

Here is a list of differences between LIC Jeevan Labh and LIC Jeevan Lakshay: 

Parameters LIC Jeevan Labh  LIC Jeevan Lakshya 
Type of plan  Limited premium endowment plan  Endowment plan with annual income benefit 
Age At Entry Minimum: 18 years Maximum: 50 years Minimum: 8 years Maximum: 59 years
Ideal for  Savings + insurance with a fixed lump sum  Financial protection for a family, especially with children 
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)
Maturity Benefit Sum Assured + Bonus  Sum Assured + Bonus 
Death Benefit  Full Sum Assured + Bonuses  Annual payouts till maturity + final lump sum 
Premium paying term  10,15, or 16 years  Fixed premium term (policy term - 3 years) 
Income facility on death  No  Yes, annual income till maturity 
Loan facility  Yes  Yes 

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. 22,821 Rs 25,582
Total Premium Amount Rs. 4,80,436 Rs. 3,91,680


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.

Common Features of LIC Jeevan Labh and LIC Jeevan Lakshya Policy

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.

  • Basic Sum Assured: Both policies have the same lower cap for basic sum assured, Rs 2 lakhs. However, there is no upper cap on the sum assured amount. It can be as high as finalised during the underwriting process. 

  • Participating Policies: Both policies participate in LIC’s profits. This makes both of these eligible for bonuses declared by the company which is payable with the maturity benefit. 

  • 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 policy 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. 

  • Loan facility: Policyholders can take a loan against both these plans after paying one full year’s premiums.

How To Buy LIC Plans From Policybazaar?

Follow the steps below to buy LIC Plans from Policybazaar:

Step 1: Visit LIC

Step 2: Fill in the form with your name and contact number. Click on “View plans”.

Step 3: Enter your age, resident city, and your annual income.

Step 4: Once you've done this, select the plan by selecting your desired investment amount and tenure and clicking on “Get Details.”

Step 5: Cross-check the details, the premium you need to pay, and customize the amount and policy term as you want. Proceed to make an online payment.

Wrapping Up!

LIC Jeevan Lakshya 733 vs LIC Jeevan Labh 736 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 policy is a limited premium endowment plan, whereas Jeevan Lakshya policy 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 policy offers a lump-sum maturity benefit, which may appeal to those who prefer a single substantial payout. In contrast, Jeevan Lakshya policy 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
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

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 2025
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) 2025
LIC Jeevan Umang Plan
LIC Jeevan Shanti Plan
LIC Online Premium Payment
LIC Jeevan Labh Policy-736
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-715
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
How To Know My LIC Policy Details?

07 Jul 2025

3 min read

Life Insurance Corporation of India (LIC) offers policies
Read more
LIC Digital App

16 May 2025

4 min read

The Life Insurance Corporation of India (LIC) is the largest and
Read more
History Of LIC - India’s Largest Insurance Company

17 Mar 2025

3 min read

The Life Insurance Corporation of India (LIC) is the largest
Read more
LIC Unclaimed Deposits: How to Check & Claim LIC Unclaimed Amount?

10 Mar 2025

4 min read

The Life Insurance Corporation of India (LIC) is the household
Read more
How to Link Aadhaar with LIC Policy Online

10 Mar 2025

4 min read

You must have accessed your life insurance policies online and
Read more
LIC Online Premium Payment

2 min read

The LIC online premium payment facility lets policyholders conveniently pay their premiums. The LIC online
Read more
How to Check the Maturity Amount of LIC Policies?

4 min read

The LIC maturity value is the amount payable to the policyholders at the end of their policy term. To calculate
Read more
Surrendering LIC Policy Before Maturity Time: Your Guide!

3 min read

The surrender value of an LIC policy is the amount given to the policyholder if they cancel their policy before
Read more

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