LIC Jeevan Labh 836

LIC Jeevan Labh 836 is a withdrawn plan and is no longer available for sale. It is an endowment plan in which the policyholder can avail of the dual benefit of life protection and savings. Since the plan was withdrawn, the company launched a new version, LIC Jeevan Labh 936.

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We are rated~
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58.9 Million
Registered Consumer
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Insurance Partners
26.4 Million
Policies Sold

LIC Jeevan Labh 836- An Overview

LIC’s Jeevan Labh 836 is a traditional endowment insurance product offered by the LIC of India. This plan is designed to offer savings and protection benefits. The plan offers financial backing to the family of the life insured in the event of her/his unfortunate demise. Further, if the policyholder survives the duration of the policy term, (s)he is eligible to receive maturity benefit as a lump sum payout. 

However, the plan is no longer available for sale; thus, if you want to secure the future of your loved ones, you can choose LIC Jeevan Labh 936.

Key Features of LIC Jeevan Labh 836 Policy

Key features of this policy include:

  • It is a limited premium paying policy. 

  • This plan lets you use the loan facility for your liquidity needs.

  • The policy participates in the company's profits, which confers bonuses to the policyholders.

  • Accidental death and disability can be covered through riders available on paying extra charges.

  • LIC Jeevan Labh 836 can be surrendered at any point during the policy tenure, provided premiums for three full years have been paid.

  • The plan offers flexibility in choosing the policy term, which can be 16 years, 21 years, or 25 years.

Eligibility Criteria of LIC Jeevan Labh 836

The following table highlights the basic requirements to be eligible for this plan.

Criteria Minimum  Maximum
Entry Age 8 years 59 years for PT 16 years
54 years for PT 21 years
50 years for PT 25 years 
Maturity Age NA 75 years
Sum Assured Rs. 2 Lakhs No limit
Policy Term 16 years, 21 years, 25 years
Premium Paying Term 10 years, 15 years, 16 years

Benefits of LIC Jeevan Labh 836

  • Death Benefit - In the event of the policyholder's unfortunate demise, (s)he is entitled to receive the SA on death with a final additional bonus and simple reversionary bonus, subject to company profits. The death benefit payable is the absolute sum assured or 10 times the annual premium (whichever is higher).

  • Maturity Benefit - The sum assured on maturity equals the basic sum assured, and bonuses earned through LIC's participating profits. Upon surviving the policy term, the maturity benefit is payable as a lump sum to the life assured.

  • Participation in Profits - LIC Jeevan Labh 836 is a participating, with-profit insurance policy. Subject to provisions in section 28 of the LIC Act of 1956, the policy participates in the corporation's profits. Consequently, policyholders will be eligible to receive a simple reversionary bonus at a rate declared by LIC annually, in addition to assured death and maturity benefits. 

Rider Benefits with LIC Jeevan Labh 836

The riders that can be availed under this insurance plan are Accidental Death and Disability Benefit Rider and New Term Assurance Rider of LIC. Let’s understand these riders in more detail.

Riders Rider Details
LIC’s Accidental Death and Disability Benefit Rider 
  • To be eligible to receive benefits under this rider, the life assured should have completed 18 years of age. 
  • The benefits shall be available till the end of the policy term or up to 70 years of age, whichever comes earlier. 
  • The sum assured under this rider is spread across equal monthly installments for 10 years in case of accidental disability of the life assured. 
  • In case of death of the life assured as a result of an accident, the accident benefit sum assured is payable in addition to the death benefit.
  • LIC should be intimated about the accident resulting in disability within 90 days of occurrence. 
  • The accident benefit sum assured shall not exceed Rs.100 Lakhs. 
LIC’s New Term Assurance Rider
  • If death occurs during the policy term and the rider is in force, the death benefit in addition to the Term Assurance Rider Sum Assured is payable. 
  • The maximum cover that can be availed under this rider shall not exceed Rs.25 Lakhs. 
  • If the policyholder opts for the rider at the time of surrendering the base policy, a percentage of the premium charged for this rider is refunded.

Other Key Policy Details of LIC Jeevan Labh 836

  • Grace Period - If the policyholder cannot pay their LIC premiums, the company grants an extended period and allows the policyholder to pay their due premiums within that period. That extended timeline is called a grace period. A grace period of 30 days is granted for yearly, half-yearly, and quarterly premium payments. For monthly payments, the grace period is limited to 15 days. If premiums are not paid within this period, the policy will lapse.

  • Policy Revival - If premiums are not paid within the grace period and the policy lapses, it can be revived. However, a minimum gap of 2 years from the first missed premium payment is required to revive the policy.

  • Free-look Period - During this period, the policyholder can review the policy's terms and conditions. If dissatisfied with any part of the policy, the policyholder can return it to LIC for a refund. 

Exclusions Under LIC Jeevan Labh 836

The policy has a suicide exclusion clause under the terms of which - 

  • If death by suicide occurs within 12 months from the date of risk commencement, no benefits shall be payable by the insurer, except 80% of the premiums paid. 

  • Similarly, if death occurs as a result of a suicide attempt within 12 months from policy revival, only 80% of the premiums paid are refunded back to the beneficiaries.


*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

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