LIC Jeevan Labh 836 Premium and Maturity Calculator

Highlights of LIC’s Jeevan Labh 836

Please note that LIC Jeevan Labh 836 was withdrawn by the company; LIC has come up with an updated version of the same plan, LIC Jeevan Labh (Plan-936).

The policy is a non-linked, endowment-based, limited premium paying insurance scheme. It offers financial support to the life assured’s family in case of her/his unfortunate demise. Further, it also acts as a savings avenue through which policyholders can avail of the maturity benefit at the end of the policy term.

Features of LIC’s Jeevan Labh 836

• The death benefit is equal to the absolute sum assured or 10 times the annual premium payable, whichever is higher.

• The maturity benefit that the life assured is entitled to, is payable by LIC as a lump sum amount.

• If you need urgent capital, you can avail of the loan facility that comes with LIC Jeevan Labh 836 insurance policy.

• The policy comes with two additional riders, viz. LIC’s New Term Assurance Rider and LIC’s Accidental Death and Disability Benefit Rider. 

About LIC’s Jeevan Labh 836 Premium and Maturity Calculator 

The advent of digital technology has made the lives of insurance buyers significantly better.  The official website of LIC features a host of online tools that have made it easier for buyers to process claims, make online payments, etc. Further, you can keep track of your policy online from the comfort of your home.

Factors Considered by LIC Jeevan Labh 836 Premium Calculator

So, LIC Jeevan Labh 836 Premium Calculator uses several factors to estimate the premium payable against the sum assured accurately. These are:

• Policy Term - Policyholders have the option to choose from a policy term of 16 years, 21 years, or 25 years based on their life coverage requirements.

• Premium Payment Term – The term of premium payment depends on the term of the policy chosen at the time of policy inception. If you choose a policy term of 16 years, the corresponding premium payment will be 10 years. Similarly, for a policy term of 21 years, or 25 years, the premium payment terms of 15 years and 16 years, respectively. 

• Sum Assured - While there is no limit to the maximum amount that one can assure, the minimum sum assured has been set at Rs.2 Lakhs.

How to Use LIC’s Jeevan Labh 836 Premium Calculator?

As mentioned above, the online premium and maturity calculator requires users to fill in certain policy-related criteria. In addition, you will also need to provide personal details such as your age, date of birth, etc. 

The LIC Jeevan Labh 836 Premium and Maturity Calculator offers you two options - you can either choose to calculate the premium against the sum assured or choose your premium amount and calculate the subsequent sum assured. 

Let’s look at the steps to use this online feature. 

• Open the official online portal of LIC.

• Choose ‘Insurance Plan’ from the ‘Products’ drop-down menu.

• Click on LIC’s Jeevan Labh.

• Click on ‘Online Premium Calculator’ from ‘LIC Online Service Portal.’

• Fill in your name, date of birth, gender, age, and contact details.

• You will have the option to get a ‘Quick Quote’ or ‘Compare Quotes.’

• You can choose to base the calculations on the coverage amount or the premium amount.

The resulting page should be an accurate representation of the premium amount payable or the maturity benefit one is entitled to. If you scroll to your right, you can see yearly, half-yearly, quarterly, monthly premiums, and pick whichever option fits your budget. 

Another important pointer to keep in mind is that the bonus rates are subject to change based on the profits earned by the company in a financial year. Therefore, the maturity benefit may change as and when you purchase the LIC Jeevan Labh 836 insurance policy.

Why Should You Use LIC Jeevan Labh 836 Maturity Calculator? 

There are several benefits of using LIC Jeevan Labh 836 Maturity and Premium Calculator, such as:

• Given its online availability, anyone can access the tool from the comfort of their homes, which saves a significant amount of time.

• The tool eliminates the need for third-party mediators, which does not lead to any miscommunication on premium quotes.

• LIC does not charge any fee, and therefore people belonging to any income bracket can make use of the calculator. 

• LIC Jeevan Labh Maturity Calculator is featured on the official website of the company, which is a good indicator of its reliability. 

• The tool calculates the premium and the benefit amount based on individual aspects of each buyer and is therefore fairly versatile. 

• The results offered are prompt and accurate, which is unlikely should you choose to visit a branch or use other offline modes.

• LIC Jeevan Labh 836 Premium Calculator offers flexibility in switching between various insurance schemes and even comparing quotes based on the available options.

Wrapping Up!

The process of buying insurance earlier was loaded with a multitude of problems that used to result in longer timelines. Now the advent of online tools such as these has considerably reduced the time required, in addition to being hassle-free. LIC Jeevan Labh 836 Premium and Maturity Calculator gives instant results and accurate estimations inclusive of taxes. You should make use of the tool and make an informed decision.