LIC Jeevan Labh Yojana is a non-linked endowment plan that offers the privilege of with-profits and the convenience of limited premium paying. It gives the dual advantage of savings and insurance protection. The plan is mainly aimed at people who are looking for a disciplined savings scheme of a long-term nature but at the same time the financial safety of their family in case an unexpected event occurs.
Key Features
The plan promises life cover during the entire term of the policy and offers maturity benefits to the policyholder in case of survival till the end of the term. The plan also participates in LIC’s profits through the distribution of bonuses which augment the overall returns. Policyholders are allowed to obtain loans against the plan which adds to the convenience of the financial requirements.
Eligibility and Policy Terms
The age limit for the entry is flexible; it varies from 8 years to 59 years based on the policy term selection. The maximum age for maturity is set at 75 years. The policy terms are of 16, 21, and 25 years with premium payment terms shorter than the policy duration. This is done so that premiums are collected in a limited period while the benefits continue until the maturity.
Benefits of LIC Jeevan Labh Yojana 2026
The plan provides two benefits at the same time:
- Maturity Benefit: Sum assured plus bonuses if the policyholder lives up to the maturity.
- Death Benefit: If the policyholder dies, during the policy term, the nominee gets the sum assured along with the bonuses that have accrued.
In addition, customers can opt for riders such as accidental death and disability benefit for more protection.
Example of Returns
To illustrate the returns, let’s say a person pays around ₹10,000 each year for a period of 16 years. The total premium amount would then be approximate around ₹1,60,400. At the completion of 25 years, the amount payable could be close to ₹2,20,000, which will include bonuses at the rate of 4% per annum assumed.
LIC Jeevan Labh Yojana 2026 at a Glance
| Feature | Details |
|---|---|
| Plan Type | Endowment, Savings-cum-Protection |
| Policy Terms | 16, 21, 25 years |
| Premium Paying Term | Limited (shorter than policy term) |
| Entry Age | 8 – 59 years |
| Maturity Age | Up to 75 years |
| Benefits | Death cover + Maturity benefit + Bonuses |
| Loan Facility | Available |
Conclusion
LIC Jeevan Labh Yojana 2026 is a plan that emphasizes balance, providing life insurance coverage and guaranteed savings at the same time. Although the returns may be slightly better than those of a fixed deposit, the scheme is suitable for investors with a lower risk tolerance who prefer certain benefits and family security. It offers a worry-free life by merging protection with long-term financial planning.