Who it suits
Salaried people who want to finish paying premiums well before retirement.
LIC plans / Endowment Plans
Endowment Plans
New Plan no. 736 UIN 512N304V03
LIC’s Jeevan Labh
Participating · Non-linked · Limited-premium endowment
Pay for fewer years, stay covered for the full term, and receive a lump sum with bonuses.
8 – 59 yearsEntry age
16, 21 or 25 yearsPolicy term
10, 15 or 16 years (linked to term)Premium paying term
Minimum sum assured applies. See the official brochure for the exact benefit formula.Sum assured
Plan highlights
What this plan gives you
The main features in plain words. The official brochure is the final word on every figure.
- Limited premium payment
- Bonuses under with-profits
- Maturity and death benefits
How it works
Premiums are paid for 10, 15 or 16 years while cover runs for 16, 21 or 25 years. A lump sum comes at maturity.
Death benefit
Sum Assured on Death plus vested Simple Reversionary Bonuses and Final Additional Bonus, if any.
Maturity benefit
Basic Sum Assured plus vested bonuses and Final Additional Bonus, if any.
Survival / income benefit
None during the term.
Options and riders
Optional riders as listed in the brochure
Step by step
How the plan runs
1
Start the planEntry age: 8 – 59 years. Sum assured: Minimum sum assured applies. See the official brochure for the exact benefit formula..2
Pay premiums10, 15 or 16 years (linked to term)3
Stay coveredPolicy term: 16, 21 or 25 years. Death benefit applies during the term.4
Income during the termNone during the term.5
Receive the benefitBasic Sum Assured plus vested bonuses and Final Additional Bonus, if any.At a glance
Eligibility and plan limits
A quick reference before you discuss a proposal. Underwriting and channel conditions apply.
| Plan detail | As per summary |
|---|---|
| Plan number | 736 |
| UIN | 512N304V03 |
| Category | Endowment Plans |
| Plan type | Participating · Non-linked · Limited-premium endowment |
| Entry age | 8 – 59 years |
| Policy term | 16, 21 or 25 years |
| Premium paying term | 10, 15 or 16 years (linked to term) |
| Sum assured | Minimum sum assured applies. See the official brochure for the exact benefit formula. |
- Loan facility as per policy conditions
Important details
Policy conditions that apply to most LIC plans
Know the conditions, not just the headline.
Grace period
30 days for yearly, half-yearly and quarterly premiums; 15 days for monthly. Cover continues during this time.
Free look
30 days from receiving the policy document to return it if you do not agree with the terms.
Revival
A lapsed policy can usually be revived within 5 years of the first unpaid premium, with arrears, interest and proof of good health.
Surrender, paid-up and loan
A loan is available within surrender value after the first policy year (one full year’s premium paid); guaranteed surrender value needs two full years’ premiums.
Suicide within 12 months
If it happens within 12 months of the start of cover, the nominee receives 80% of premiums paid (policy in force).
Section 45
After three years a policy cannot be questioned except for proven fraud.
Quick answers
Questions families ask
Who is this plan for?
Salaried people who want to finish paying premiums well before retirement.
What is the entry age?
8 – 59 years
What are the policy term and premium paying term?
Policy term: 16, 21 or 25 years. Premium paying term: 10, 15 or 16 years (linked to term).
What sum assured can I choose?
Minimum sum assured applies. See the official brochure for the exact benefit formula.
What happens if the life assured dies during the term?
Sum Assured on Death plus vested Simple Reversionary Bonuses and Final Additional Bonus, if any.
What do I receive at maturity?
Basic Sum Assured plus vested bonuses and Final Additional Bonus, if any.
Does the plan pay anything during the term?
None during the term.
Are there options or riders?
Optional riders as listed in the brochure
Will the amounts always be paid exactly as shown here?
This page is a summary. Actual benefits depend on the policy terms, premium payment status, the options chosen, underwriting and LIC’s official benefit illustration. The official brochure is the final word.
Want this explained in plain words?
Read LIC’s official brochure, compare the options, and I will help you choose what fits your family.
This page is a summary. Benefits, eligibility and premiums can change: the official LIC brochure for the plan is the final word, and I will confirm current terms for you.