LIC Jeevan Labh (Plan 736) Calculator: Premium, Maturity & Returns

What Is the LIC Jeevan Labh (Plan 736) Calculator?

The LIC Jeevan Labh Plan 736 calculator is a free tool that estimates your yearly premium, total investment, life cover, maturity payout and annualized return in seconds. You enter three things: your sum assured, your age at entry, and your policy term. The calculator does the rest and shows a full year-by-year illustration.

Jeevan Labh is a participating, non-linked, limited premium endowment plan from the Life Insurance Corporation of India. Plan 736 (UIN 512N304V03) launched in October 2024 and is the current version, replacing the earlier Plan 936. It gives you life cover for the full term while you pay premiums for a shorter period.

The plan is a good fit for a specific goal, such as a child’s education, a wedding, or a retirement cushion, where you want guaranteed structure and a lump sum on a fixed date.

Features of This Calculator

Here is what the tool on this page gives you.

• Three policy term choices: 16 years (pay 10), 21 years (pay 15), and 25 years (pay 16).
• Sum assured input from ₹2,00,000 upward, with no upper limit.
• Entry age input from 8 to 59 years.
• An optional Accident Benefit Rider (₹30 lakh) toggle.
• Quick preset plans for common buyer profiles, so you can compare in one tap.
• A clear results panel: annual premium, total premiums, maturity value, lifetime gain, annualized return (IRR), life cover, paying years, waiting years, and maturity age.
• A donut chart that splits your maturity into premiums paid and bonus plus returns.
• A full year-by-year illustration: age, life cover, premium, bonus accrued, surrender value, loan available, and maturity.
• Auto-written Key Takeaways in plain language.
• Share Plan by link, Share Image as a picture, and Download CSV for your records.
• A mobile-friendly layout with card views for the schedule.

The tool is free, needs no sign-up, and reflects the current GST exemption on individual life insurance premiums.

How the LIC Jeevan Labh Calculator Works

The plan pays you in two ways, and the calculator models both.

Maturity Benefit. If you survive the full term and have paid all premiums, you receive the Sum Assured on Maturity, which equals your Basic Sum Assured, plus vested Simple Reversionary Bonuses, plus a Final Additional Bonus if one is declared.

Death Benefit. If you pass away during the term, your nominee receives the Sum Assured on Death, plus vested bonuses, plus any Final Additional Bonus. The Sum Assured on Death is the higher of your Basic Sum Assured or a set multiple of your annualised premium, and it is never less than 105% of all premiums paid to that date.

The calculator combines your inputs with LIC’s declared FY2024-25 bonus rates for this plan to estimate the maturity value, then computes the annualized return so you can see the true growth rate.

The Formula Behind the Numbers

The core maturity formula is simple to read.

Maturity Value = Basic Sum Assured + Total Simple Reversionary Bonus + Final Additional Bonus

Where:

• Total Simple Reversionary Bonus = (Sum Assured / 1000) × declared bonus rate per ₹1,000 × policy term in years. Bonus accrues for the full policy term, not only for the paying years.
• Final Additional Bonus (FAB) is a one-time bonus paid at maturity, declared by LIC based on its performance. It is not guaranteed.

The annualized return, or IRR, is the single yearly rate that makes your premium outflows and your maturity inflow balance out. It is the fairest way to judge any insurance-cum-savings plan, because it accounts for the timing of every payment.

Explanation of Every Input

• Basic Sum Assured. The guaranteed base amount and the anchor for your death and maturity benefits. Minimum is ₹2,00,000, with no maximum. A higher sum assured raises both your cover and your premium.
• Age at Entry. Your age when the policy starts. It affects your premium. The minimum entry age is 8 years.
• Policy Term. Choose 16, 21, or 25 years. Each term has a fixed, shorter premium paying term of 10, 15, or 16 years.
• Accident Benefit Rider. An optional add-on that pays an extra lump sum if death is caused by an accident. Turn it on to see the higher total cover.

Step-by-Step Guide

1. Enter your Basic Sum Assured, for example ₹20,00,000.
2. Enter your age at entry, for example 29.
3. Pick your policy term: 16, 21, or 25 years.
4. Turn the Accident Benefit Rider on or off.
5. Press Calculate.
6. Read your annual premium, maturity value, and IRR in the results panel.
7. Scroll to the year-by-year table to see how bonus, surrender value, and loan availability grow.
8. Use Share or Download CSV to save the plan.

A Practical Example

Suppose you are 29 years old and choose a Basic Sum Assured of ₹20,00,000 on the 25-year term, so you pay premiums for 16 years.

These figures use LIC’s declared FY2024-25 bonus rate for this term plus an assumed Final Additional Bonus. They are illustrative. Actual bonuses are declared every year and can be higher or lower, so your real maturity may differ. For most Jeevan Labh combinations, the true annualized return lands close to 5% to 6% a year.

Eligibility at a Glance

Bonuses Explained Simply

Jeevan Labh is a with-profits plan. That means you share in LIC’s surplus through two bonuses.

Simple Reversionary Bonus (SRB). Declared once a year and added to your policy. It is calculated on your sum assured, not on the growing balance, which is why it is called simple rather than compound.

Final Additional Bonus (FAB). A one-time bonus paid only in the year your policy pays out, at maturity or on a claim. It rewards long-term policies and is not guaranteed.

An important point that many buyers miss: bonuses accrue for the full policy term. On a 25-year policy you earn bonus for all 25 years, even though you stop paying after 16.

Loan, Surrender and Liquidity

Under the current 2024 rules, Plan 736 is more flexible than older versions.

• You can surrender the policy after just one full policy year, once one year’s premium is paid.
• A loan against the policy is available after the first policy year.
• The year-by-year table on this page shows your growing surrender value and the loan you could take each year.

Surrendering early almost always returns less than you paid, so treat the loan and surrender features as a safety net, not a plan.

Tax Benefits

• Premium. Premiums paid qualify for a deduction under Section 80C, within the overall ₹1.5 lakh limit, under the old tax regime.
• Maturity. The maturity amount is exempt under Section 10(10D) when the plan’s conditions are met, including the premium-to-sum-assured limit and the aggregate annual premium rules that apply from FY2023-24.
• GST. Individual life insurance premiums are exempt from GST (0%) since 22 September 2025, so the premium shown here carries no GST.

Tax rules change and depend on your situation. Confirm the current position on the Income Tax India portal or with a qualified advisor.

Benefits of LIC Jeevan Labh (Plan 736)

• Life cover for the full term while you pay for a shorter period.
• A guaranteed lump sum on maturity, plus bonuses.
• Forced, disciplined saving toward a fixed goal date.
• Loan facility for emergencies without breaking the policy.
• Rider options to widen your protection.

Limitations to Weigh

• Returns are modest. Endowment plans usually deliver around 5% to 6% a year, below long-term equity averages.
• Bonuses are not guaranteed and are declared each year.
• Early exit returns less than you paid.
• For pure protection, a term plan gives far higher cover for the same premium.

Common Mistakes to Avoid

• Choosing the minimum sum assured just to cut the premium, leaving your family under-covered.
• Treating an endowment plan as a high-growth investment.
• Ignoring the difference between guaranteed and non-guaranteed maturity figures.
• Buying without comparing the same yearly outgo in a term plan plus PPF or an SIP.

Expert Tips

• Decide the goal first, then size the sum assured to that goal, adjusted for inflation.
• For protection, pair a small endowment with a larger pure term plan.
• If your priority is growth, compare this plan’s IRR with a PPF or SIP for the same yearly amount before you commit.
• Recheck the bonus figures against LIC’s latest declaration each year.

Key Takeaways

• Plan 736 is the current Jeevan Labh version, a limited-premium endowment plan.
• You pay for 10, 15, or 16 years and stay covered for 16, 21, or 25 years.
• Maturity equals sum assured plus Simple Reversionary Bonus plus any Final Additional Bonus.
• Real-world returns usually land near 5% to 6% a year.
• Use the calculator to see your exact premium, maturity, and IRR before you buy.

Frequently Asked Questions