LIC Jeevan Labh 1 Crore

What is LIC Jeevan Labh 1 Crore Plan?

LIC Jeevan Labh 1 Crore Plan is a traditional life insurance plan offered by the LIC of India. The plan offers the death benefit in case the policyholder dies during the policy term. Whereas, in the scenarios where the policyholder outlives the policy term, the plan offers a maturity benefit. In addition to profit participation, bonuses are also available.

Also, to offer enhanced protection to the policyholder, LIC Jeevan Labh offers five additional riders namely (i) Accidental Death and Disability Benefit Rider, (ii) Accidental Benefit Rider, (iii) Term Assurance Rider, (iv) Critical Illness Rider & (v) Premium Waiver Benefit.

Eligibility Criteria of Jeevan Labh 1 Crore Plan

Benefits of LIC Jeevan Labh 1 Crore Policy

LIC Jeevan Labh 1 Crore plan comes with a host of benefits that helps the policyholder to plan a financially secure future for themselves and their families. Take a look at some of the benefits of the plan:

1. Death Benefit

   In case the policyholder dies within the policy period, the plan offers Death Benefit to the nominee. The death benefit payable will be the higher of

   • Basic Sum Assured, or

   • 7 times of annualized premium

2. Maturity Benefit

   If the policyholder is alive till the end of the policy period, he/she is eligible to avail of Maturity benefit which will be equal to

   Sum Assured on Maturity+Vested Simple Reversionary Bonus, if any + Final Additional Bonus, if any.

3. Tax Benefits

   The premiums paid against the policy will be eligible for tax benefits under section 80 C of the Income Tax Act.

Sample Illustration of LIC Jeevan Labh 1 Crore Policy

Suppose a 30-year male wants to buy LIC Jeevan Labh 1 Crore plan. Let us calculate the premium he needs to pay for different policy terms available by using LIC Jeevan Labh Calculator. Take a look:

How to Buy LIC Jeevan Labh 1 Crore Plan?

To buy LIC Plans, follow the below-mentioned steps:

Step 1: Fill in the form available at the top of this page with your name and contact number. Click on “view plans”.

Step 2: Enter your current age and the city you live in.

Step 3: Once done, the page will show you all the plans. You can customize the values as per your requirements.

Step 4: Select the plan you want to buy, and pay the premium online.

FAQ's