Q. Is LIC Jeevan Labh a good policy?
A. Yes, Jeevan Labh is one of the highest yield plan. The limited premium payment
term make it attractive. The premium is lower and maturity is higher under this plan as compared to
other LIC plans.
Q. What is the minimum and maximum amount of investment in Jeevan Labh?
A. The minimum sum assured is Rs.2,00,000/- with no upper limit. The minimum annual
premium is Rs.9394/- + GST for Rs 2 Lakh sum assured plan with 16 years premium payment term.
Q. Is the maturity amount I receive from LIC under Jeevan Labh plan is taxable?
A. No, the maturity amount is 100% tax-free under Section 10(10)(D).
Q. Which Plan Term should I choose while taking Jeevan Labh?
A.You can choose any plan term among 16/10, 21/15 or 25/16 where 16,21,25 is plan
term and 10,15,16 is the premium payment term. However, if your age is higher than 50, then you can
choose only 16/10 or 21/15.
Q. How can I buy Jeevan Labh?
A.There are three ways an NRI can buy Jeevan Labh - 1st during his visit to India,
2nd we come to your country of residence, 3rd is Mail Order Business which is available only to
NRIs, FNIOs can use this option.
Q. Can I buy Jeevan Labh for my child?
A. Yes, an NRI can buy Jeevan Labh for his/her child if the child age is above 8
years.
Q. Which LIC Plan has highest return?
A. LIC Jeevan Labh has the highest return as compared to other LIC plans as the IRR
is around 7.25% without considering the tax benefits, and if we include the tax benefits the IRR is
around 9.50%.
Q. What is the minimum and maximum Sum Assured in LIC Jeevan Labh plan for NRIs life
insurance?
A.The minimum Sum Assured is Rs.10 Lakh if you buy LIC Jeevan Labh through Mail
Order Business, otherwise it is Rs. 2 Lakh. There is no upper limit, the maximum sum assured depends
upon your income.
Q. Is LIC Jeevan Labh an endowment plan?
A.Yes, Jeevan Labh is a limited premium paying, non-linked, with profit endowment
plan
