🗓️Last Updated: June 2026

LIC Jeevan Labh Plan 936 — Pay for 10 Years, Earn Bonus for 25 Years

LIC Jeevan Labh (Plan No. 936) is a limited premium endowment plan where you pay premiums for a shorter period but enjoy coverage and bonuses for the full policy term. It offers higher bonus rates than the standard New Endowment Plan, making it one of LIC's better-returning savings plans.

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Verified by NagrikIQ Research Team
Sources: Official .gov.in portals only · Updated June 2026
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Official Sources
🔗LIC India — Buy Policy — Official Portal →

📋 Overview

LIC Jeevan Labh (Plan 936) is a non-linked, participating, limited premium endowment plan. The key advantage over standard endowment plans: you pay premiums for a shorter period than the policy term, yet receive full benefits for the entire term. Available terms: 16 years (premium payment: 10 years), 21 years (premium payment: 15 years), 25 years (premium payment: 16 years). This means for a 25-year policy, you only pay premiums for 16 years — but the policy remains active and earns bonuses for all 25 years. Bonus rates (2024-25): LIC declared ₹54 per ₹1,000 Sum Assured — higher than the New Endowment Plan's ₹45–48. Plus a Final Addition Bonus (FAB) at maturity. This makes Jeevan Labh's total return higher than the standard endowment plan for the same Sum Assured. Jeevan Labh vs New Endowment Plan 914: Jeevan Labh has higher premium per year (because you pay for fewer years), higher bonus rate, and no premium payment after the premium term ends. New Endowment requires you to pay for the full policy term but at lower annual cost. Jeevan Labh is better for those who can afford higher annual premium but want to be done paying early.

✅ Eligibility

  • ✓Minimum entry age: 8 years
  • ✓Maximum entry age: 59 years (for 16-year term), 54 years (for 21-year term), 50 years (for 25-year term)
  • ✓Available policy terms: 16 years, 21 years, or 25 years only (no custom term)
  • ✓Premium payment terms: 10 years (for 16yr policy), 15 years (for 21yr policy), 16 years (for 25yr policy)
  • ✓Minimum Sum Assured: ₹2,00,000 (₹2 lakh)
  • ✓No maximum Sum Assured — based on income
  • ✓Medical examination: required for SA above ₹10 lakh or age above 45

📁 Documents Required

▸Proposal Form (Form 300) — filled with LIC agent or at branch
▸Age proof — Aadhaar, birth certificate, school certificate
▸Address proof — Aadhaar, utility bill
▸Income proof — salary slips, ITR (for high SA amounts)
▸PAN card
▸Recent passport-size photographs (2)
▸Medical reports — if required by LIC

💰Fees & Processing Time

Fee
Sample annual premiums for ₹5 lakh Sum Assured (approximate, excluding GST): 16-year policy (pay for 10 years): • Age 25: ~₹47,500/year × 10 years • Age 30: ~₹50,000/year × 10 years • Age 35: ~₹53,500/year × 10 years 25-year policy (pay for 16 years): • Age 25: ~₹26,000/year × 16 years • Age 30: ~₹28,500/year × 16 years • Age 35: ~₹32,000/year × 16 years Add 4.5% GST on all premiums. Estimated maturity for ₹5 lakh SA, 25yr term, age 30: approx ₹13–15 lakh (SA + bonuses over 25 years at ₹54/₹1000/year + FAB).
Processing Time
Policy issuance: 7–15 working days after all documents and first premium are submitted.

🖥️ How to Apply Online

  1. 1Use LIC Premium Calculator at licindia.in or our calculator at /lic/premium-calculator to estimate premium for Jeevan Labh (Plan 936).
  2. 2Contact a LIC agent or visit any LIC branch — Jeevan Labh is not available for self-service online purchase.
  3. 3Decide your policy term (16/21/25 years) based on when you want the maturity payout.
  4. 4Fill Proposal Form 300 with your agent. Disclose all medical history accurately.
  5. 5Submit medical reports if required. Pay first premium.
  6. 6Policy bond issued within 15 working days. Register at licindia.in for digital access.
  7. 7Setup NACH auto-debit at licindia.in to ensure premiums are never missed.

🏢 How to Apply Offline

  1. 1Visit any LIC branch and ask for Plan 936 — Jeevan Labh.
  2. 2The LIC Development Officer or agent will explain the premium payment term vs policy term.
  3. 3Complete medical examination if required.
  4. 4Collect policy bond from branch or by post.

⚠️Common Problems & Solutions

✗Jeevan Labh vs New Endowment Plan 914 — which is better?
→Jeevan Labh (936) has: higher bonus rate (₹54 vs ₹45–48), shorter premium payment period (pay for fewer years), and higher total returns. New Endowment (914) has: lower annual premium (but you pay for the full term), more flexible entry ages, and lower minimum SA. Choose Jeevan Labh if you can afford higher annual premiums and want to stop paying early while getting higher returns. Choose New Endowment 914 if you want lower annual outgo and longer payment flexibility.
✗What if I can't pay premiums after the premium term ends?
→After the premium payment term ends, no more premiums are required — the policy continues automatically until maturity. The policy is fully paid up after you complete all premiums in the payment term. You don't need to do anything — just wait for maturity and submit Discharge Form 3825.
✗Can I surrender Jeevan Labh before maturity?
→Yes, after 3 years of premium payments. Surrender value = higher of Guaranteed Surrender Value (30% of premiums paid × GSV factor) or Special Surrender Value (paid-up value + bonus). Surrendering early always means a loss — you receive less than total premiums paid in the first 5–7 years. Consider a policy loan instead of surrendering.

❓ Frequently Asked Questions

Q.What is the bonus rate for LIC Jeevan Labh in 2025-26?

LIC declared a Simple Reversionary Bonus of ₹54 per ₹1,000 Sum Assured per year for Jeevan Labh (Plan 936) for 2024-25. Additionally, a Final Addition Bonus (FAB) is paid at maturity — currently ₹165 per ₹1,000 SA for 25-year policies. For a ₹5 lakh SA, 25-year policy: bonus alone = ₹5,00,000 × 5.4% × 25 years = ₹6,75,000. Plus FAB = ₹82,500. Total maturity ≈ ₹5 lakh + ₹6.75 lakh + ₹82,500 = ~₹12.6 lakh.

Q.What are the tax benefits of LIC Jeevan Labh?

Premium paid is deductible up to ₹1.5 lakh per year under Section 80C. Maturity amount is fully tax-free under Section 10(10D) — provided annual premium is less than 10% of Sum Assured. For most Jeevan Labh policies (SA ₹2–10 lakh range), the premium is well under 10% of SA, making the maturity fully tax-exempt. Death benefit is also tax-free for the nominee under 10(10D).

Q.What is the difference between Jeevan Labh and Jeevan Anand?

Jeevan Labh (936): limited premium payment + higher bonus rate, policy ends at maturity. Jeevan Anand (915): pays premiums for the full term, but the life cover continues AFTER maturity at no extra premium — you get maturity payout AND remain insured for life. Jeevan Anand suits those who want lifelong insurance cover. Jeevan Labh suits those who want higher returns and are okay with cover ending at maturity.

📞Helpline & Support

  • ▸LIC Helpline: 022-68276827 (8AM–8PM, Mon–Sat)
  • ▸Find agent: licindia.in → Agent Locator
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Disclaimer: NagrikIQ is an informational platform and is not affiliated with any government department. Information provided is for guidance only. Always verify details on the official government portal before taking action.