*LIC Jeevan Labh* is a highly popular, individual, non-linked (not market-linked), with-profits, *limited premium paying endowment assurance plan*. This plan offers a unique combination of financial protection against death throughout the entire policy term, coupled with disciplined savings that yield a handsome lump sum at maturity. The standout feature of this plan is its *Limited Premium Paying Term (PPT)*—meaning you pay premiums for fewer years than the actual duration of the policy's life cover. --- ### Key Features & Eligibility Requirements * *Limited Premium Payment:* Your financial obligation is shorter than your policy term. * *Policy & Premium Paying Term Combinations:* * *16-Year Policy Term:* Premium paying term is only *10 years*. * *21-Year Policy Term:* Premium paying term is only *15 years*. * *25-Year Policy Term:* Premium paying term is only *16 years*. * *Age Limits:* Minimum entry age is *8 years* (completed). The maximum entry age depends on the chosen term (59 years for a 16-year term, 54 years for a 21-year term, and 50 years for a 25-year term). * *Sum Assured:* Minimum Basic Sum Assured is *₹2, 00, 000* with no maximum limit. * *Tax Benefits:* Tax deductions are available on premiums under *Section 80C, and maturity/death payouts are tax-free under **Section 10(10D)*. ### Core Policy Benefits * *Maturity Benefit:* On surviving the full policy term, the policyholder receives the *Basic Sum Assured + Vested Simple Reversionary Bonuses + Final Additional Bonus* (if any). * *Death Benefit:* If the insured passes away during the policy term, the nominee receives the *Sum Assured on Death + Vested Simple Reversionary Bonuses + Final Additional Bonus*. * *Loan Facility:* Policyholders can secure a loan against the policy after successfully paying premiums for at least *2 full years*. --- ## How to Calculate the Premium While an exact premium calculation depends on parameters like your precise age, chosen riders, and current tax structures, an online premium calculator functions using standard base tables. ### Factors That Influence Your Premium: 1. *Age at Entry:* Younger individuals pay lower premiums for the same sum assured. 2. *Policy Term:* Opting for a longer policy term usually reduces the annual premium rate. 3. *Sum Assured:* A higher sum assured increases the absolute premium but qualifies you for high sum assured *rebates/discounts*. 4. 4. *Premium Mode:* Choosing an annual payment mode gives you a *2% rebate* on the tabular premium, while a half-yearly mode offers a *1% rebate*. ### Illustrative Premium Calculation (Assuming a Basic Sum Assured of *₹10, 000, 000** for a healthy individual, excluding taxes and rider costs)* | Age (Years) | Policy Term (Years) | Premium Paying Term (Years) | Approximate Annual Premium (₹)* | | --- | --- | --- | --- | | *25* | 21 | 15 | ₹55, 000 | | *35* | 16 | 10 | ₹88, 000 | | *45* | 25 | 16 | ₹59, 000 | #investment #LIC #financialplanning #SecureFuture #viral4. *Premium Mode:* Choosing an annual payment mode gives you a *2% rebate* on the tabular premium, while a half-yearly mode offers a *1% rebate*. ### Illustrative Premium Calculation (Assuming a Basic Sum Assured of *₹10, 000, 000** for a healthy individual, excluding taxes and rider costs)* | Age (Years) | Policy Term (Years) | Premium Paying Term (Years) | Approximate Annual Premium (₹)* | | --- | --- | --- | --- | | *25* | 21 | 15 | ₹55, 000 | | *35* | 16 | 10 | ₹88, 000 | | *45* | 25 | 16 | ₹59, 000 | #investment #LIC #financialplanning #SecureFuture #viral
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