In the ever-evolving financial planning landscape, understanding your investments and insurance policies is essential. LIC’s Jeevan Labh Plan 936 is a financial instrument combining insurance coverage with a robust savings component. To make these policies more user-friendly, LIC has developed tools to do various calculations for the policyholders. These tools are called online calculators, and to calculate the LIC Jeevan Labh policy details, LIC’s calculator is called the LIC Jeevan Labh plan 936 maturity calculator.
A Jeevan Labh 936 calculator is a convenient tool for digitally savvy consumers. They can be used to calculate any policy’s maturity benefits and premium amounts before making a purchase.
LIC Jeevan Labh plan 936 maturity calculator is a comprehensive guide that has mentioned everything you’ll need to know about LIC Jeevan Labh calculator 936.
What is LIC Jeevan Labh Plan 936 Maturity Calculator?
The Jeevan Labh 936 calculator emerges as an essential online tool offered by LIC, made to help with the intricate financial landscape of policyholders. It seamlessly combines crucial parameters, like the premium amount, policy term, and the ever-evolving bonus amount, to provide policyholders with a precise estimate of their policy’s maturity value.
Using the Jeevan Labh 936 maturity calculator, you can determine what amount you must pay to score a particular sum assured. You will also understand how the premium changes with different factors like age. Policyholders can also get an idea about how much maturity benefits they can expect with the help of LIC Jeevan Labh calculator 936.
Eligibility of LIC Jeevan Labh 936
This part of the article contains LIC Jeevan Labh policy details, including Eligibility Conditions, Restrictions, and Rebates while using a LIC Jeevan Labh plan 936 maturity calculator.
Ensure you meet these policy’s minimum and maximum entry age criteria. Here are the LIC Jeevan Labh policy details in terms of eligibility.
|Age at entry
|50 Years (For 25 Year Term)
54 Years (For 21 Year Term)
59 Years (For 16 Year Term)
|8 Years (Completed)
|Sum Assured (in INR)||No cap||2,00,000
Premium Payment Mode
This policy offers flexibility by permitting premium payments on an annual, half-yearly, quarterly, or even monthly basis, catering to your financial needs.
High Sum Assured Rebate
Policyholders who opt for a higher sum assured may be eligible for a premium rebate.
This policy may also offer a loyalty addition component, which can boost your returns.
How to Calculate the Premium Using LIC Jeevan Labh Plan 936 Maturity Calculator?
One can use the LIC Jeevan Labh calculator 936 to estimate the payable premium amount. It considers your age, policy term, and the desired sum assured to calculate the nearest estimate of your premium. You can also add various riders; the Jeevan Labh 936 calculator will give you the premium accordingly.
Steps to Use LIC Jeevan Labh Plan 936 Maturity Calculator
Below are steps on how to use the LIC Jeevan Labh plan 936 maturity calculator:
- Visit LIC’s Official Website
- Choose ‘LIC’s Jeevan Labh from the listed products on the new page.
- Tap on ‘Premium Calculator’ under the ‘LIC Online Service Portal’ menu to use the LIC Jeevan Labh Calculator 936.
- Add your details like date of birth, name, age, contact details, and gender.
- As you add the details, you will find two options: ‘Compare Quotes’ and Quick Quote.’
- You will get a quick quote, i.e., the estimated premium amount as per your chosen coverage.
You must use the following details in the Jeevan Labh 936 calculator properly:
1. PoLICy Term
One of the most essential LIC Jeevan Labh policy details is its policy term. You can choose from the three policy terms available, i.e., 25 years, 21 years, and 16 years.
2. Premium Payment term
The premium paying terms are 16 years, 15 years, and 10 years respectively. This means that if you chose a policy term for 25 years, the premium payment term will be 16 years. The excellent payment term is one of the most critical factors that a LIC Jeevan Labh calculator 936 uses to calculate the premium amount.
3. Sum Assured
As per the LIC Jeevan Labh policy details, Rs.2 Lakhs is the minimum sum assured. There is no maximum limit on the amount that one can guarantee.
The Jeevan Labh 936 maturity calculator calculates the result per the above details and gives you an accurate premium amount. You can choose from the monthly, quarterly, half-yearly, or yearly options to select your premium paying term.
One thing to note here is that the bonus rates on maturity can vary per the company’s performance. Hence, the LIC Jeevan Labh calculator 936 can give you a slightly different amount than the original.
Benefits of Using LIC Jeevan Labh 936 Maturity Calculator
There are many advantages of using the LIC Jeevan Labh plan 936 maturity calculator, some of which are mentioned below:
1. Free of cost
Anyone can use the LIC Jeevan Labh calculator 936 to know how much they need to invest without paying anything. Hence, it is an excellent tool for anyone without any financial restrictions.
By inputting your details in the Jeevan Labh 936 calculator, you gain an accurate estimate of your policy’s maturity amount. Therefore, it is a reliable source to calculate the premium.
The Jeevan Labh 936 maturity calculator is very flexible. You can get an accurate premium estimate even if you change your premium term and age inputs.
4. Effective Financial Planning
The LIC Jeevan Labh plan 936 maturity calculator helps you plan your financial goals precisely, allowing you to adjust policy parameters as needed.
5. Time and Effort Savings
Using the Jeevan Labh 936 calculator is more convenient than manual calculations and provides instant results.
6. Helps in Informed Decision-Making
Armed with these calculations, you can make informed decisions about your financial future. Hence, LIC Jeevan Labh calculator 936 is a great tool to use before buying the policy.
Details About LIC Jeevan Labh Plan 936 Maturity Calculator
1. Maturity Benefit
This is the money you get when your Jeevan Labh policy matures (ends). It includes:
- Basic sum Assured: The principal amount you were promised.
- Bonus: Extra money is added every year.
- Final Additional Bonus (FAB): A one-time bonus when the policy ends.
2. Death Benefit (Life Cover)
If you pass away during the policy term, your nominee gets the following.
- Death Sum Assured: The principal promised amount or seven times your yearly premium, whichever is higher.
- Bonus: Extra money earned up to your death.
- Final Additional Bonus (FAB): If applicable.
To get this benefit, make sure you pay all your premiums.
3. Accidental Death & Disability Benefit (AD & DB) Rider
If you’re 18 or older, you can add this extra feature for an added cost. It gives your nominee more money if you die from an accident. If you become permanently disabled from an accident, all future premiums for this and the central policy are waived, and your family gets the sum assured in small payments over ten years.
4. Term Rider
Another extra feature for those 18 or older, it provides additional money to your nominee if you pass away. But if you finish the policy term alive, there’s no extra payout.
These features and add-ons make Jeevan Labh Plan (936) a flexible and protective option for you and your loved ones. Consider them carefully to tailor your policy to your needs. A LIC Jeevan Labh calculator 936 will use various factors to calculate the above results.
In conclusion, the LIC Jeevan Labh calculator 936 is an invaluable tool for policyholders, helping them make informed financial decisions. You can start on a secure financial journey by following the steps outlined in this guide, understanding LIC Jeevan Labh policy details, and considering potential riders. With a fair understanding of the Jeevan Labh 936 maturity calculator, you can make well-informed financial decisions for a secure future
Always refer to the official LIC website and other trusted sources for the most up-to-date and precise information. Remember that careful planning today can lead to a financially secure tomorrow.