LIC Jeevan Labh Plan 736 Calculator
Calculation Results
Total Maturity Amount
Planning for the future requires a reliable life insurance policy that also helps build long-term savings. LIC Jeevan Labh Plan 736 is one of the well-known endowment insurance plans that provides financial protection along with rewarding maturity benefits. To make premium and benefit calculations simple, many people use the LIC Jeevan Labh Plan 736 Calculator for quick estimates.
Overview of LIC Jeevan Labh Plan 736
LIC Jeevan Labh Plan 736 is a limited premium payment endowment insurance policy offered by the Life Insurance Corporation of India. This plan is designed to provide the combined advantages of life insurance coverage and savings growth under a single policy.
The policy offers financial protection to the policyholder’s family in the event of an unfortunate death during the policy period. At the same time, it also provides maturity benefits to the policyholder upon successful completion of the policy term.
Main Highlights of LIC Jeevan Labh Plan 736
- Policy Duration Options: Available for terms of 16 years, 21 years, and 25 years.
- Limited Premium Payment: Premiums are payable only for 10, 15, or 16 years depending on the selected policy term.
- Minimum Entry Age: The policy can be purchased from the age of 8 years.
- Maximum Entry Age:
- 59 years for the 16-year policy term
- 54 years for the 21-year policy term
- 50 years for the 25-year policy term
- Minimum Basic Sum Assured: Starts from ₹2,00,000 with no specified maximum limit.
- Flexible Premium Payment Modes: Premiums can be paid yearly, half-yearly, quarterly, or monthly.
- Policy Loan Facility: Loan benefits become available after payment of the first policy year premium.
- Optional Rider Benefits: Additional protection can be added through riders such as the Accidental Death and Disability Benefit Rider.
This plan is designed to offer long-term life insurance coverage while requiring premium payments only for a limited duration, making it a practical and affordable choice for many policyholders.
Eligibility Requirements for LIC Jeevan Labh Plan 736
| Parameter | Eligibility Details |
|---|---|
| Entry Age | 8 years (completed) to 59 years for Policy Term 16, 54 years for Policy Term 21, and 50 years for Policy Term 25 |
| Maximum Maturity Age | 75 years (nearer birthday) |
| Policy Term Options | 16 years, 21 years, or 25 years |
| Premium Paying Term | 10 years for PT 16, 15 years for PT 21, and 16 years for PT 25 |
| Minimum Sum Assured | ₹2,00,000 |
| Maximum Sum Assured | No upper limit |
| Available Premium Modes | Yearly, half-yearly, quarterly, and monthly |
The plan offers flexible eligibility conditions and multiple policy term options, making it suitable for individuals with different financial goals and insurance needs.
Why Should You Use the LIC Jeevan Labh Plan 736 Calculator?
The LIC Jeevan Labh Plan 736 Calculator is a free and easy-to-use online tool designed to help both new and existing policyholders estimate premiums and expected policy benefits. It allows users to make better financial decisions by providing clear projections based on policy details.
Benefits of Using the Calculator
- Premium Estimation:
The calculator determines the premium amount based on factors such as age, sum assured, policy term, and premium payment frequency. - Benefit Projection:
It helps estimate maturity benefits, death benefits, bonuses, and other potential payouts under the policy. - Better Financial Planning:
Users can compare different policy terms and sum assured amounts to choose an option that matches their financial goals and affordability. - Greater Transparency:
The calculator provides a clear understanding of premium amounts and policy benefits before purchasing the plan.
This tool removes uncertainty by offering personalized premium calculations using LIC’s official premium structures and rates.
How to Use the LIC Jeevan Labh Plan 736 Calculator?
The LIC Jeevan Labh Plan 736 Calculator is simple to operate. Follow these steps to estimate your policy benefits:
Step 1: Enter Personal Information
Provide your name and age based on your nearest birthday. Eligible entry age ranges from 8 to 59 years, depending on the chosen policy term.
Step 2: Select the Policy Duration
Choose your preferred policy term from the available options: 16 years, 21 years, or 25 years.
Step 3: Enter the Basic Sum Assured
Input the desired basic sum assured amount. The minimum sum assured starts at ₹2,00,000 and can be increased in multiples of ₹10,000 according to eligibility.
Step 4: Choose the Premium Payment Mode
Select the premium payment frequency that suits your convenience: yearly, half-yearly, quarterly, or monthly.
Step 5: Add Optional Riders
You may include additional rider benefits such as the Accidental Death Benefit Rider for enhanced financial protection.
Step 6: Click on Calculate
Once all details are entered, the calculator instantly displays:
- Premium amount payable under different payment modes
- Estimated death benefit, including applicable bonuses
- Expected maturity value with simple reversionary bonuses and Final Additional Bonus (FAB)
The calculator uses LIC’s official premium rates and bonus assumptions related to Plan 736 (UIN: 512N304V03) to provide reliable and accurate estimates.
Major Benefits of LIC Jeevan Labh Plan 736
1. Combination of Insurance Protection and Savings
This policy provides financial security to your family in case of an unfortunate event while also helping you build long-term savings through bonus-based returns.
2. Limited Premium Payment Advantage
Premiums are required only for a limited duration of 10, 15, or 16 years, whereas the insurance coverage continues for a longer period of up to 25 years. This helps reduce long-term premium payment obligations.
3. Policy Loan Facility
The plan offers a loan facility after payment of the first year’s premium, helping policyholders access funds during financial emergencies.
4. Optional Rider Benefits for Extra Security
Policyholders can strengthen their coverage by adding optional riders such as:
- Accidental Death and Disability Benefit Rider
- Term Assurance Rider
- Premium Waiver Benefit Rider
These rider options provide additional financial protection against unexpected situations.
5. Flexible Premium Payment Options
The policy allows premiums to be paid according to the policyholder’s convenience through yearly, half-yearly, quarterly, or monthly payment modes.
6. Income Tax Advantages
Premiums paid under the policy may qualify for tax deductions under Section 80C of the Income Tax Act. In addition, maturity proceeds are generally eligible for tax exemption under Section 10(10D), subject to prevailing tax regulations.
7. Benefit of Premium Rebates
Higher sum assured amounts and yearly premium payment modes may qualify for premium rebates, helping reduce the overall premium cost.
How Premiums and Benefits Are Calculated in LIC Jeevan Labh Plan 736
The premium amount under LIC Jeevan Labh Plan 736 is determined based on several important factors, including:
- Age of the policyholder (nearest birthday)
- Selected sum assured amount
- Policy term and premium-paying term
- Chosen premium payment frequency
- Additional riders selected under the plan
Death Benefit Under the Policy
If the life assured passes away during the policy term, the nominee receives the higher of the following:
- Basic Sum Assured on death
- Seven times the annualized premium
Along with this, all accumulated bonuses declared up to the date of death are also payable.
Maturity Benefit Under the Policy
If the policyholder survives until the end of the policy term, the maturity benefit generally includes:
- Sum Assured on Maturity
- Vested Simple Reversionary Bonuses
- Final Additional Bonus (FAB), if applicable
These bonuses are declared by LIC based on its annual profits and may vary from year to year.
Paid-Up Value and Surrender Benefit
If the policyholder stops paying premiums after a certain period, the policy may acquire a paid-up value based on the premiums already paid. In addition, the policyholder may also become eligible for a surrender value after completion of the required surrender period, offering partial financial support if continuing the policy becomes difficult.
How to Use the LIC Jeevan Labh Plan 736 Calculator Online?
You can use the LIC Jeevan Labh Plan 736 Calculator through the official LIC website or other trusted insurance platforms. Follow these simple steps:
- Visit the official LIC website or an authorized insurance calculator portal.
- Open the “Calculate Premium” or “Quick Quote” section.
- Enter your basic information such as name, date of birth, gender, and contact details.
- Select LIC Jeevan Labh Plan 736 from the available plan list.
- Fill in details like sum assured, policy term, and premium payment mode.
- Choose any optional riders or additional benefits if required.
- Click on the “Calculate” button to view premium details and estimated policy benefits.
The calculator will instantly display premium amounts, maturity projections, and death benefit estimates. These results can also be saved or printed for future reference.
Benefits of Using the Calculator Before Buying the Policy
Using the LIC Jeevan Labh Plan 736 Calculator before purchasing the policy can be very helpful for financial planning.
Key Advantages Include:
- Accurate estimation of premium amounts payable
- Easy comparison of different sum assured options and policy terms
- Better understanding of long-term financial commitments
- Evaluation of how optional riders affect premiums and coverage
- Clear understanding of maturity and death benefits before purchase
This level of transparency helps policyholders choose the most suitable plan according to their budget and financial goals.
Useful Tips for LIC Jeevan Labh Plan 736 Policyholders
- Carefully read the policy document to understand all terms and conditions.
- Pay premiums on time to avoid policy lapse and continue enjoying policy benefits.
- Use loan and revival facilities responsibly and ensure timely repayments.
- Monitor yearly bonus declarations, as they increase the overall maturity value.
- Use the online calculator regularly to review premiums and benefits according to changing financial needs.
Frequently Asked Questions About LIC Jeevan Labh Plan 736
What is LIC Jeevan Labh Plan 736?
LIC Jeevan Labh Plan 736 is a limited premium payment endowment policy that offers both life insurance protection and savings-related benefits.
What is the Entry Age Eligibility for This Plan?
The minimum entry age is 8 years. The maximum entry age depends on the selected policy term:
- 59 years for the 16-year term
- 54 years for the 21-year term
- 50 years for the 25-year term
What is the Minimum Sum Assured Under the Plan?
The minimum basic sum assured starts from ₹2,00,000, while there is no specified maximum limit.
What Benefits Are Paid on Policy Maturity?
On successful completion of the policy term, the policyholder receives the sum assured along with vested simple reversionary bonuses and Final Additional Bonus (FAB), if applicable.
Are Tax Benefits Available Under This Policy?
Yes, premiums paid may qualify for tax deductions under Section 80C up to applicable limits. Additionally, maturity and death benefits are generally exempt under Section 10(10D), subject to prevailing tax rules.
What Premium Payment Modes Are Available?
Policyholders can pay premiums yearly, half-yearly, quarterly, or monthly according to their convenience.
Conclusion
LIC Jeevan Labh Plan 736 offers a balanced combination of life insurance coverage and savings benefits through a limited premium payment structure. The LIC Jeevan Labh Plan 736 Calculator serves as a valuable tool for both prospective buyers and existing policyholders by helping them estimate premiums, evaluate benefits, and make informed financial decisions with greater confidence and clarity.
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