LIC Jeevan Labh (Plan 736) Calculator: Premium, Maturity & Returns
This calculator estimates the premium, maturity value and annualized return of LIC's Jeevan Labh (Plan 736), a limited premium endowment plan. Enter your sum assured, entry age and policy term to instantly see your yearly premium, total investment, life cover, maturity payout and a year by year illustration. Figures are illustrative and based on current bonus assumptions.
Quick Policy Options
Maturity Summary
LIC Jeevan Labh Year-wise Illustration
| Year | Age | Life Cover | Premium | Bonus Accrued | Surrender Value | Loan Available | Maturity |
|---|
Plan Your Future with the LIC Jeevan Labh 736 Calculator
LIC Jeevan Labh (Plan 736) is one of India’s most popular limited premium endowment plans. You pay premiums for a shorter period, stay covered for the full policy term, and receive a lump sum with bonuses at maturity. The plan carries UIN 512N304V03 and was launched by LIC on 17 October 2024 under the updated IRDAI product regulations.
The problem is that LIC brochures never show you the actual return. Bonuses are declared yearly, GST changes after the first year, and the final payout depends on your age, term and sum assured. This LIC Jeevan Labh calculator does the math for you. Enter three inputs and instantly see your annual premium, total investment, maturity value, life cover and the real annualized return (IRR) of the policy.
What Is LIC Jeevan Labh Plan 736?
LIC Jeevan Labh is a participating, non-linked, limited premium endowment plan. Each word matters:
Participating means you share in LIC’s profits through Simple Reversionary Bonuses declared every year and a possible Final Additional Bonus (FAB) at maturity.
Non-linked means your money is not invested in the stock market. Returns come from LIC’s declared bonuses, not market performance.
Limited premium means the premium paying term (PPT) is shorter than the policy term. For example, in the 25 year plan you pay for only 16 years. For the remaining 9 years your cover continues free of any payment while bonuses keep accruing. This premium-free tail is the plan’s strongest structural feature.
Plan 736 vs Older Versions (836 and 936)
Jeevan Labh started as Plan 836 in January 2016, became Plan 936 in February 2020, and was replaced by Plan 736 on 17 October 2024. Two changes matter for new buyers. First, the death benefit multiple was revised from 10 times the annualized premium to 7 times. Second, Plan 736 follows the new IRDAI surrender value rules, which allow a surrender payout after just one full year of premium payment instead of two. If you hold an old 836 or 936 policy, your original terms continue unchanged.
Eligibility and Key Features of Plan 736
| Parameter | Details |
|---|---|
| Minimum entry age | 8 years (completed) |
| Maximum entry age | 59 years (16 yr term), 54 years (21 yr term), 50 years (25 yr term) |
| Policy terms | 16, 21 or 25 years |
| Premium paying terms | 10, 15 or 16 years respectively |
| Maximum maturity age | 75 years |
| Minimum sum assured | ₹2,00,000 (no upper limit) |
| Premium modes | Yearly, half-yearly, quarterly, monthly (NACH) |
| Mode rebate | 2% on yearly, 1% on half-yearly premiums |
| Loan facility | Available after the first full year’s premium |
| Riders | Accidental Death and Disability, Accident Benefit, New Term Assurance, Premium Waiver |
Features of This Calculator
This free tool goes beyond a basic premium estimate. Here is what it gives you:
- Annual premium estimate based on your sum assured, entry age and term, excluding GST
- Maturity value projection combining sum assured, accrued bonuses and Final Additional Bonus
- Annualized return (IRR) so you can compare the plan honestly against PPF, FD or SIP returns
- Life cover display showing the death benefit your family receives, with or without the accident rider
- Year-wise illustration table covering life cover, bonus accrual, surrender value and loan availability for every policy year
- Quick policy presets for common profiles like a 25 year old starter or a 40 year old retirement planner
- CSV download and shareable image so you can save the illustration or send it to family before deciding
No sign-up, no phone number, and nothing is stored on our servers.
How the LIC Jeevan Labh Calculator Works
The calculator follows the same benefit structure LIC uses in its official illustrations.
Maturity Benefit Formula
Maturity Amount = Basic Sum Assured + Accrued Simple Reversionary Bonuses + Final Additional Bonus (if declared)
Reversionary bonuses are declared per ₹1,000 of sum assured each year. The calculator uses an illustrative rate of ₹45 per ₹1,000, close to LIC’s recent declarations for this plan family. FAB is applied as a percentage of sum assured that rises with the policy term, which is why the 25 year term typically shows the highest maturity.
Death Benefit Formula
Sum Assured on Death = Higher of the Basic Sum Assured or 7 times the annualized premium, subject to a minimum of 105% of all premiums paid
Vested bonuses and FAB, if any, are added on top. Your family stays covered for the full policy term, including the years after your premiums stop.
Return Calculation (IRR)
Most LIC calculators stop at the maturity amount. This one also computes the internal rate of return by treating each premium as an outflow and the maturity as the inflow. That single percentage tells you what the plan actually earns per year, making comparison with other products simple and honest.
Example: Real Numbers for a 29 Year Old
Take the default scenario in the calculator above.
| Input | Value |
|---|---|
| Age at entry | 29 years |
| Basic sum assured | ₹20,00,000 |
| Policy term | 25 years (pay for 16) |
| Annual premium (ex GST) | About ₹1,27,000 |
| Total premiums over 16 years | About ₹20,32,000 |
| Estimated maturity at age 54 | About ₹51,50,000 |
| Lifetime gain | About ₹31,18,000 |
| Annualized return (IRR) | Around 5.5% |
The pattern holds across scenarios: you roughly get back 2.5 times your total premiums over 25 years, which works out to an IRR of about 5% to 6% before considering the tax exemption on maturity. Run your own numbers above, since entry age and term shift the premium meaningfully.
GST on Jeevan Labh Premiums
GST is charged over and above the premium shown by the calculator. The rate is 4.5% of the premium in the first policy year and 2.25% from the second year onwards. On a ₹1,00,000 annual premium, that means ₹4,500 extra in year one and ₹2,250 in each later year. Factor this into your budget because GST paid does not add to your maturity value.
Surrender Value: The 2024 Rule Change
This is where Plan 736 genuinely improves on older versions. Under the IRDAI regulations effective 1 October 2024, Plan 736 acquires a surrender value after just one full year of premium payment. Older plans required two years.
Surrender values are also computed more favorably now, using a special surrender value linked to the paid-up sum assured and discounted at a rate tied to the 10 year G-Sec yield. In plain terms, exiting early hurts less than it used to, though it still hurts. The year-wise table above shows an indicative surrender value for every policy year so you can see exactly how much you would lose by exiting at any point.
Three practical rules before you surrender:
- In the first two to three years, surrender values remain weak. Continuing is almost always better if you can afford the premium.
- After the premium paying term ends, never surrender. The premium-free years are when the plan works hardest for you.
- If you need cash, take a policy loan instead of surrendering. You can estimate this with our LIC Loan Against Policy Calculator.
What Happens If You Stop Paying Premiums?
If you stop after paying at least one full year, the policy does not vanish. It becomes paid-up with a reduced sum assured proportionate to the premiums paid, and already-vested bonuses stay attached. If you stop within the first year, the policy lapses, though it can be revived within five years of the first unpaid premium by paying arrears with interest.
Tax Benefits Under Plan 736
Section 80C: Premiums qualify for deduction up to ₹1.5 lakh per year under the old tax regime. Check your regime first with our Old vs New Tax Regime Calculator.
Section 10(10D): The maturity amount is tax-free provided the annual premium does not exceed 10% of the sum assured. Jeevan Labh’s premium structure comfortably satisfies this condition at standard sum assured levels, which means the roughly 5.5% IRR is effectively a post-tax return. A fixed deposit earning 7% taxed at the 30% slab nets only about 4.9%, which is the fairest way to compare the two.
Refer to the Income Tax Department’s provisions on Section 10(10D) for the exact conditions, especially if you pay very high premiums relative to your cover.
Is LIC Jeevan Labh a Good Investment? An Honest View
It depends entirely on what you want the money to do.
Where Jeevan Labh works well: You want capital safety backed by LIC’s sovereign guarantee, forced savings discipline, tax-free maturity, and life cover bundled in one product. The limited premium structure suits professionals who want to finish paying before big expenses like children’s education begin.
Where it falls short: The 5% to 6% IRR barely beats inflation. Over 25 years, the same yearly amount in PPF at 7.1% grows meaningfully larger, and an equity SIP has historically grown far larger still, though with market risk. The life cover is also thin. A ₹20 lakh cover is inadequate for most families, and pure term insurance buys 25 to 50 times more cover for the same premium.
The balanced approach most advisors recommend: Buy adequate protection through a term plan first, then split savings between safe instruments and growth instruments. Compare all three side by side using our Term Insurance Calculator, PPF Calculator and SIP Calculator before committing 16 years of premiums.
Jeevan Labh vs Other LIC Plans
| Feature | Jeevan Labh (736) | Jeevan Umang (745) | New Jeevan Anand (715) | New Endowment (714) |
|---|---|---|---|---|
| Type | Limited premium endowment | Whole life with income | Endowment plus whole life | Regular premium endowment |
| Payout style | Lump sum at maturity | 8% of SA yearly plus maturity at 100 | Maturity plus cover continues for life | Lump sum at maturity |
| Premium paying term | 10, 15 or 16 years | 15, 20, 25 or 30 years | Equal to policy term | Equal to policy term |
| Best suited for | Wealth goal at a fixed date | Lifelong regular income | Legacy plus savings | Simple low-cost savings |
Run the numbers on each with our LIC Jeevan Umang Calculator, LIC New Jeevan Anand Calculator and LIC New Endowment Plan 714 Calculator.
Common Mistakes to Avoid
- Choosing the sum assured based on premium affordability alone. Work backwards from the goal. If your child’s education will cost ₹40 lakh in 20 years, a ₹10 lakh policy will not get you there.
- Treating Jeevan Labh as your only life insurance. The 7x premium death benefit is savings-plan cover, not family protection. Pair it with term insurance.
- Ignoring GST in your budget. The quoted premium is not the amount your bank account loses.
- Surrendering in a panic during the early years. Use the paid-up option or a policy loan first.
- Skipping the monthly mode fine print. Monthly premiums require NACH or salary deduction, and yearly mode earns a 2% rebate that adds up over 16 years.
Expert Tips to Maximize Your Returns
- Pick the 25 year term if your goal allows it. The Final Additional Bonus rises sharply with term, and the IRR improves.
- Enter young. A 25 year old pays a noticeably lower premium per ₹1,000 of cover than a 40 year old for the same maturity.
- Pay yearly to capture the 2% mode rebate.
- Buy in the name of the earning member so premiums qualify under Section 80C and the death benefit protects dependents.
- Recheck this calculator after LIC’s annual bonus declaration to update your maturity expectation.
Frequently Asked Questions
It is a good fit for conservative savers who value guaranteed safety, tax-free maturity and disciplined saving. The annualized return of roughly 5% to 6% is modest, so investors seeking growth should compare it with PPF and equity SIPs before committing.
Maturity equals the basic sum assured plus accrued simple reversionary bonuses plus any Final Additional Bonus. For a ₹10 lakh policy over 25 years, the maturity typically works out to around ₹25 lakh at recent bonus levels. Use the calculator above for your exact inputs.
The minimum entry age is 8 years. The maximum is 59 for the 16 year term, 54 for the 21 year term and 50 for the 25 year term. The maximum maturity age is 75.
The nominee receives the higher of the basic sum assured or 7 times the annualized premium, never less than 105% of premiums paid, plus vested bonuses and FAB if any. Cover continues even during the premium-free years after your PPT ends.
Yes. Under the IRDAI rules effective October 2024, Plan 736 acquires a surrender value after one full year of premium payment. Early surrender still causes losses, so check the year-wise surrender values in the table above before deciding.
Yes. A loan is available after the first full year’s premium, typically up to 90% of the surrender value for in-force policies. This is usually a better option than surrendering.
No, provided the annual premium is within 10% of the sum assured, the maturity is exempt under Section 10(10D). Premiums also qualify for deduction under Section 80C in the old tax regime.
After one full year of payment, the policy becomes paid-up with reduced benefits instead of lapsing. You can also revive a lapsed policy within five years of the first unpaid premium.
Plan 836 launched in 2016, Plan 936 replaced it in 2020, and Plan 736 launched on 17 October 2024. Plan 736 changed the death benefit to 7 times the annual premium from 10 times and follows the new IRDAI surrender rules that permit surrender after one year.
GST is 4.5% of the premium in the first policy year and 2.25% from the second year onwards, charged over and above the base premium.
The 25 year term usually delivers the highest maturity and IRR because the Final Additional Bonus rises with the policy term and bonuses compound over more years.
It shows close estimates based on published rate patterns and recent bonus declarations, excluding GST. LIC’s official quote from an agent or the LIC portal is the final figure, since rates vary by exact age and medical profile.
Key Takeaways
- LIC Jeevan Labh (Plan 736, UIN 512N304V03) is a limited premium endowment plan with terms of 16, 21 or 25 years and premium payment for only 10, 15 or 16 years.
- Maturity equals sum assured plus reversionary bonuses plus Final Additional Bonus, typically producing an annualized return of about 5% to 6%, tax-free under Section 10(10D).
- The death benefit is the higher of the sum assured or 7 times the annual premium, with cover continuing through the premium-free years.
- New IRDAI rules allow surrender after one year, but a policy loan is almost always the smarter exit route.
- Use the calculator’s IRR figure to compare Jeevan Labh honestly against PPF, FD and SIP before locking in 16 years of premiums.
This page is for informational purposes only and is not investment or insurance advice. Premium, bonus and maturity figures are illustrative estimates based on recent LIC bonus declarations and exclude GST. PlanMyReturns is not affiliated with the Life Insurance Corporation of India. Please verify final figures with LIC or a registered advisor before purchasing.
Sources: LIC of India policy document for Jeevan Labh (UIN 512N304V03), IRDAI product and surrender value regulations 2024, Income Tax Department provisions under Sections 80C and 10(10D). Last updated: 18 July 2026