LIC Jeevan Labh (Plan 736) Calculator

Read on to know more about the LIC of India Jeevan Labh Calculator in detail.

What is the LIC Jeevan Labh (736) Calculator?

The LIC Jeevan Labh Calculator is a free-of-cost online tool offered by LIC of India on their official website. It is used to calculate the premiums and maturity amount of the LIC Jeevan Labh 736 policy. The calculator is simple to use and requires only basic details to calculate the results. It works in various steps where users simply have to provide their basic details like name, Date of birth, and contact details. Then, in the next steps, they have to provide basic policy details such as the sum assured, premium payment term (PPT), and policy term. 

With just these details, the LIC Jeevan Labh calculator computes the results. The results are the premium amounts based on the policy term and sum assured chosen. It also provides a benefit illustration where users can check other LIC policy details such as death benefit, maturity benefit, bonus amounts and loan amounts, if any. With this tool you can do LIC Jeevan Labh return calculation with bonus and final additional bonus to get the bonus evaluation of the plan.

How to Use LIC Jeevan Labh Calculator Online?

Here are a few easy steps to use the LIC Jeevan Labh Premium Calculator:

Step 1: Go to the LIC website.

Step 2: Click on "Calculate Premium" in the "How much you need" section.

Step 3: Give information like your name, date of birth, gender, and phone number. Click "Next," then click "Quick Quote."

Step 4: From the list, pick the Jeevan Labh plan and then click "Coverage."

Step 5: Enter information like the Sum Assured and the Policy term. When you enter the policy term, the system will automatically choose the premium payment term that goes with it. 

When you fill in all the information, the results should show the correct amount of the premium and the death/maturity benefit.

How Does This Calculator Help?

For New Customers: 

• If you're a new user and want to buy the LIC Jeevan Labh plan, the LIC Jeevan Labh calculator can help you figure out if this policy is right for you.

• You don't have a policy, so all you need to do is fill out your name, date of birth, contact information, and the amount you want to be covered for. 

• You can look at the monthly, quarterly, half-yearly, and yearly premium amounts to find the one that works best for your budget.

For Existing Customers (Active Plan - 736):

• You can use the LIC Jeevan Labh calculator to see how well your active plan is doing.

• You can enter your policy term, the amount of coverage you want, and the premiums you've already paid since you have the policy. 

• You can use the LIC Jeevan Labh policy calculator to find out how much you owe for your renewal premium.

• The tool shows you how your policy is growing by giving you updated estimates of when it will mature, how much it will pay out in bonuses, and how much coverage you will have each year.

For Existing Customers (Withdrawn Plans - 836 & 936):

• The LIC Jeevan Labh maturity calculator also supports older plans like 836 and 936.

• Fill in the details of your original plan, like the amount of coverage, the term, and the premiums you paid.

• The calculator gives you updated estimates of when your plan will mature, how much your bonuses will be, and how much coverage you will have. This helps you figure out how much your plan is worth right now.

An Overview of LIC Jeevan Labh Plan 736

LIC Jeevan Labh Plan 736 (formerly known as LIC Jeevan Labh 936 and 836) is an endowment plan with a limited premium that offers both life insurance and savings. The LIC of India Jeevan Labh plan provides financial support for the policyholder's family in case of the policyholder's unfortunate death during the policy term, and a maturity payout is paid if the policyholder survives the policy term. 

How Does LIC Jeevan Labh Calculator Work?

The LIC Jeevan Labh 736 calculator works by entering the personal details. It is an easy-to-use online tool that simplifies financial planning by offering quick estimates based on inputs. The LIC Jeevan Labh policy calculator works similarly to a standard LIC calculator. Based on your requirements, the following details have to be filled in when using the LIC Jeevan Labh maturity calculator:

• Your Age - Select age between 8 years to 50 years. Max Age for 16 year term is 59, 21 year term is 54 and 25 year term is 50.

• Policy Term - You can choose from 3 different policy term options, viz. 16 years, 21 years, and 25 years. 

• Premium Paying Term - The corresponding premium paying terms are 10 years, 15 years, and 16 years. For instance, if you choose a policy term of 16 years, the premium paying term will be 10 years. 

• Sum Assured - The minimum sum assured is Rs.2 Lakhs. There is no cap on the maximum amount that you can assure. 

• Optional Riders: You can choose to add riders such as Accidental Death & Disability or Term Assurance rider while using the LIC Jeevan Labh calculator.

Sample Calculation Using LIC Jeevan Labh Calculator

Let us understand how the LIC Jeevan Labh calculator works with an example. A 30 year-old individual decides to invest Rs 5 Lakhs. 

The following are the premium amounts (inclusive of taxes) he will have to pay under different policy and respective premium paying terms:

The LIC Jeevan Labh premium calculator provides a benefit illustration for each of these amounts. This detailed illustration clearly shows details such as final payout amounts, premiums payable, bonus amounts, if any, details provided by the policyholder, etc. 

If you wish to calculate the benefits payable for a paid-up Jeevan Labh plan, there is a simple formula: 

Death Benefit (Death Paid-up Sum Assured) = [(Number of premiums paid/Total Number of premiums payable) x Sum Assured on Death] + Vested Bonuses 

This Death benefit shall not be less than 105% of the total premiums paid up to the date of death.

Maturity Benefit (Maturity Paid-up Sum Assured) = [(Number of premiums paid/Total Number of premiums payable) x Sum Assured on Maturity] + Vested Bonuses. 

In this case, only bonus amounts accumulated before the policy became paid up will be considered. For more details, read on to Jeevan Labh Paid-Up Value Calculator.

Benefits of Using LIC Jeevan Labh Calculator

Below mentioned are some of the benefits of using LIC Jeevan Labh Premium and Maturity calculator:

• Online Availability: The LIC Jeevan Labh calculator is a tool that can be easily found online on the LIC website. Users also find LIC Jeevan Labh 836 premium and maturity calculator because they have previous versions (plan 836 and 936) of the plan. The LIC calculator used for plan 736 can be used for the older versions as well. 

• Free of Cost: LIC Calculator tool is free of cost, which means that it can be used multiple times without worrying about the money.

• Reliability: The LIC Jeevan Labh Calculator is available on the company's official website, highlighting its reliability.

• Versatility: LIC Jeevan Labh Calculator factors in individual aspects such as age and presents specific results according to the options chosen by each buyer. 

• Instant Results:  Once you input the details requested, you do not have to wait around for the results. The LIC Jeevan Labh LIC policy Calculator offers prompt and accurate responses, which is unlikely when done manually.

• Accuracy: Given that the LIC Jeevan Labh premium and maturity calculator take into consideration the policy term and the sum assured option chosen by each person, it offers the most accurate results.

• Policy Comparison: With the LIC Jeevan Labh maturity calculator, you can compare quotes from different plans and choose the best option.

• Flexibility: The LIC plan 836 maturity calculator can be used in many different ways. You can switch between different PPT and PT options and see how the premiums change.

LIC Jeevan Labh Plan Comparison (736 vs 936 vs 836)

Summing Up

The LIC Jeevan Labh calculator is a useful tool for policyholders because it helps them understand their policy. It shows them how much their premiums will be based on the amount of coverage they choose and how age affects the cost of premiums. The calculator will help you understand the LIC Jeevan Labh policy details better, which will help you make a smart choice. The LIC Jeevan Labh policy calculator also tells users about possible maturity benefits, which helps them understand the premiums, sum assured, and final benefits better.

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