When it comes to building a secure financial future, people often look for safe investment options with guaranteed returns. Among the many plans available, LIC Jeevan Labh has emerged as one of the most trusted and rewarding choices. By investing as little as ₹2,000 per month, you can unlock a massive return of around ₹13.12 lakh with complete benefits.
Let’s dive deep into how this policy works, what makes it special, and why it is a perfect option for those seeking security along with long-term wealth creation.
What is LIC Jeevan Labh?
LIC Jeevan Labh is a limited premium paying, non-linked, with-profits endowment plan that offers a combination of savings and protection. Unlike market-linked plans, this is not dependent on share market fluctuations. Instead, it guarantees returns and also provides life insurance coverage, making it a two-in-one solution for investment and security.
The plan is suitable for:
- Individuals who want guaranteed returns.
- Families seeking long-term protection.
- Investors preferring low-risk options.
How ₹2,000 Monthly Can Become ₹13.12 Lakh
To make it simple, let’s break down the numbers. If you invest ₹2,000 every month, the contributions add up over time with bonuses and maturity benefits. At the end of the policy term, you receive a lump sum of around ₹13.12 lakh, along with full benefits.
Here’s a simplified example in a table:
| Particulars | Details |
|---|---|
| Monthly Premium | ₹2,000 |
| Yearly Premium | ₹24,000 |
| Policy Term | 25 Years |
| Total Premium Paid | ₹6,00,000 |
| Bonuses & Benefits Added | ₹7,12,000 (approx.) |
| Maturity Value | ₹13,12,000 |
This calculation may vary depending on age, policy term, and exact plan selection, but the potential is almost the same for long-term investors.
Key Features of LIC Jeevan Labh
- Limited Premium Payment – You don’t need to pay premiums throughout life. Pay for a limited period and enjoy benefits for the full term.
- Guaranteed Maturity Benefits – The plan offers bonuses and maturity sum assured.
- Life Insurance Coverage – In case of unfortunate demise during the policy term, the nominee receives a lump sum death benefit.
- Loan Facility – You can take a loan against your policy in emergencies.
- Tax Benefits – Premiums paid qualify for deduction under Section 80C, and the maturity amount is tax-free under Section 10(10D).
Why Choose LIC Jeevan Labh?
- Security + Savings: Combines life cover with guaranteed wealth creation.
- Risk-Free Returns: No link with the stock market.
- Affordable: Just ₹2,000 monthly is accessible for most individuals.
- Financial Discipline: Encourages systematic savings.
- Trusted Brand: LIC is one of the most reliable insurers in India.
Example Scenario
Imagine you are 30 years old and decide to invest ₹2,000 monthly in LIC Jeevan Labh for 25 years. By the time you reach 55, you would have contributed ₹6 lakh. But thanks to bonuses, loyalty additions, and benefits, your final maturity payout will be around ₹13.12 lakh.
In addition, your family remains covered throughout the policy term. This means peace of mind plus a large financial cushion.
Frequently Asked Questions (FAQs)
1. What is the minimum age to buy LIC Jeevan Labh?
The minimum entry age is 8 years, and the maximum entry age is 59 years (depending on the policy term).
2. Can I take a loan against LIC Jeevan Labh?
Yes, you can avail a loan facility once your policy acquires a surrender value.
3. Is LIC Jeevan Labh suitable for tax savings?
Absolutely. Premiums qualify for deduction under Section 80C, and the maturity payout is tax-free under Section 10(10D).
4. What happens if the policyholder dies during the policy term?
In that case, the nominee receives the death sum assured plus bonuses, ensuring financial security for the family.
5. Can I surrender the policy before maturity?
Yes, the policy can be surrendered after completing 3 years of premium payment, though benefits may reduce.
6. Is this plan market-linked?
No, LIC Jeevan Labh is not linked to the stock market. It offers guaranteed and safe returns.