| Year | Age | Normal Cover | Accident Cover | Premium | Returns | Loan Available | Cash Value |
|---|
Calculate Your Future with the LIC Jeevan Labh 736 Calculator
The LIC Jeevan Labh (Plan 736) is one of India’s most popular limited-premium, non-linked, endowment plans. It is designed for individuals who want to pay premiums for a shorter duration while enjoying life cover and wealth accumulation over a longer term.
Our LIC Jeevan Labh calculator is a precision tool that helps you visualize your financial journey. By inputting your age, sum assured, and preferred term, you can instantly see your annual premiums, estimated bonuses, and the final maturity amount. Whether you are planning for your child’s higher education or building a retirement corpus, this tool provides the clarity needed to make an informed decision.
What is LIC Jeevan Labh Plan 736?
LIC Jeevan Labh is a With-Profits Endowment Plan. “With-profits” means that the policyholder is eligible to receive a share of LIC’s profits in the form of Reversionary Bonuses and Final Additional Bonuses (FAB).
Unlike traditional plans where you pay for the entire policy duration, Plan 736 offers a Limited Premium Payment (LPP) feature. This means if you choose a 25-year plan, you only pay premiums for 16 years, but you remain covered for the full 25-year period.
Plan 736 Eligibility & Combinations
The plan offers three specific combinations of Policy Term and Premium Paying Term (PPT):
- Term 16 Years: Pay premiums for 10 years.
- Term 21 Years: Pay premiums for 15 years.
- Term 25 Years: Pay premiums for 16 years.
Why People Use the Jeevan Labh Calculator
Calculating manual returns for LIC plans is notoriously difficult because bonuses are not fixed. Users rely on this calculator for:
- Limited Liability Planning: Knowing exactly when the premium payments stop.
- Tax Optimization: Estimating premiums to maximize deductions under Section 80C.
- Inflation Benchmarking: Seeing if the maturity amount will meet future goals like a daughter’s marriage or buying a home.
- Death Benefit Visualization: Understanding the financial security provided to the family (Nominee) in case of an unfortunate event.
How the LIC Jeevan Labh Calculator Works
The calculator uses the latest available bonus rates and LIC’s premium tables to generate an illustration. It follows the standard actuarial formula used by LIC for endowment plans:
The Maturity Formula
The total maturity amount is calculated as:
Maturity = Basic Sum Assured + Accrued Reversionary Bonuses + Final Additional Bonus (FAB)
The Death Benefit Formula
If the policyholder passes away during the term:
Death Benefit = Sum Assured on Death + Accrued Bonuses + FAB (if any)
(Sum Assured on Death is defined as the higher of 7x annual premium or the Basic Sum Assured.)
Example Calculation: Real-Life Scenario
Let’s look at a typical scenario for a young professional in India.
- Name: Rajesh
- Age: 30 Years
- Basic Sum Assured: ₹10,00,000 (10 Lakhs)
- Policy Term: 25 Years
- Premium Paying Term (PPT): 16 Years
The Results:
- Annual Premium: Approx. ₹46,000 (Excluding GST).
- Total Premium Paid: ₹46,000 x 16 = ₹7,36,000.
- Estimated Bonus: ₹11,25,000 (Based on ₹45 per thousand SA/year).
- Final Additional Bonus (FAB): ₹4,50,000.
- Total Maturity at Age 55: ₹25,75,000.
In this scenario, Rajesh pays roughly ₹7.3 Lakhs over 16 years and receives over ₹25 Lakhs at maturity, tax-free under Section 10(10D).
Key Factors Affecting Your Results
Several variables dictate the final “Wealth Gain” you see in the calculator:
- Age at Entry: Younger applicants pay lower premiums because the mortality risk is lower.
- Policy Term: Longer terms (25 years) typically attract higher Final Additional Bonuses compared to 16-year terms.
- Bonus Rates: These are declared annually by LIC. While our calculator uses historical averages, actual returns depend on LIC’s yearly performance.
- GST: 4.5% GST is applicable on the premium in the first year, and 2.25% from the second year onwards.
Step-by-Step: How to Use This Calculator
- Select Sum Assured: Choose the life cover amount (Minimum ₹2,00,000).
- Enter Age: Input your current age (Must be between 8 and 59).
- Choose Term: Select from the 16, 21, or 25-year options.
- Add Riders: Optionally select the Accidental Death and Disability Benefit Rider for enhanced protection.
- Hit Calculate: Review the year-wise table to see how your “Cash Value” and “Loan Limit” grow over time.
Comparison: LIC Jeevan Labh vs. Other Popular Plans
| Feature | Jeevan Labh (736) | Jeevan Umang (745) | New Endowment (714) |
| Type | Limited Premium Endowment | Whole Life (Until 100) | Regular Premium Endowment |
| Returns | Lump Sum at Maturity | 8% SA Annual + Maturity | Lump Sum at Maturity |
| Best For | High Returns / Wealth | Regular Income / Pension | Simple Life Cover |
| Payment Term | 10, 15, or 16 Years | 15, 20, 25, or 30 Years | Equal to Policy Term |
| Liquidity | Loan after 2 years | Loan after 2 years | Loan after 2 years |
Tips for LIC Jeevan Labh Policyholders
- Choose the 25-Year Term: Historically, the 25-year term offers a significantly higher Final Additional Bonus (FAB) than the 16-year term.
- Grace Period: You have 30 days for yearly/half-yearly payments and 15 days for monthly payments. Use the calculator to ensure you can afford the premium during this window.
- Paid-Up Value: If you cannot pay premiums after 2 years, the policy doesn’t lapse but becomes “paid-up” with reduced benefits.
- Avoid Surrendering: Surrendering an LIC policy early results in heavy losses. Use the Loan Facility (usually 90% of Surrender Value) if you need urgent cash.
How much money do I need to retire in India?
While Jeevan Labh is an endowment plan, many use it as a retirement cornerstone. To retire comfortably in India by 2040-2050, you must account for 6% inflation.
A person spending ₹50,000/month today will need approximately ₹1,60,000/month in 20 years to maintain the same lifestyle. A Jeevan Labh maturity of ₹50 Lakhs can act as a “Safe Bucket” for your retirement corpus, providing a tax-free lump sum to clear debts or settle into a pension plan.
Frequently Asked Questions
Yes, for conservative investors. It offers a combination of guaranteed safety (Sovereign Guarantee), tax benefits, and returns that usually outperform Savings Accounts and FDs over the long term.
The minimum age is 8 years (completed). The maximum age depends on the term: 59 for 16-year term, 54 for 21-year term, and 50 for 25-year term.
Yes. You can avail of a loan after paying premiums for at least two full years. The loan amount is typically 90% of the surrender value for in-force policies.
Under current Indian tax laws (Section 10(10D)), the maturity amount is completely tax-free, provided the annual premium is less than 10% of the Sum Assured.
If you have paid for at least 2 years, the policy acquires a “Paid-up Value” and continues with reduced benefits. If you stop before 2 years, the policy lapses and no money is returned.
It depends on your age and the Sum Assured. High Sum Assured values or higher entry ages usually require a medical check-up.
Yes, but monthly payments must be made through NACH (National Automated Clearing House) or salary deductions.
Plan 836 was the old version. Plan 736 is the current version updated with the latest IRDAI regulations.
Why This Calculator is Essential for Your Planning
Financial products like LIC are long-term commitments. A mistake in choosing the Sum Assured or Term can result in 20 years of sub-optimal savings. This LIC Jeevan Labh Plan 736 Calculator removes the guesswork. It allows you to simulate “What If” scenarios—helping you balance your current budget with your future needs.
By seeing the year-by-year growth of your investment, you can commit to your financial goals with confidence, knowing exactly what to expect when that maturity cheque arrives.