Buy LIC Jeevan Labh Online

The LIC Jeevan Labh Policy Online is one of the top-selling LIC policies for working professionals and self-employed people. It is a good investment and an insurance plan with low premiums and high returns. The highlight of LIC Jeevan Labh policy online purchase Buy LIC Jeevan Labh Policy Online is that you pay the premium for a limited/short period, which means you don’t have to pay the premium for the full duration of the policy term. Insurance is covered for the full term of the policy, though.

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The LIC Jeevan Labh plan is ideal for those who want a fixed premium commitment for a short duration, and life coverage and benefits for a longer period. LIC Jeevan Labh Benefits of Jeevan Labh is a traditional with-profit plan that is not related to any share market.

“It’s not about your needs, it’s about what your family needs when you’re NOT around.”

We always question ourself as to “ why should I take insurance”, as I am healthy. But the life’s truth is that diseases, old age, and death touch all families. When such calamity strikes, how well we handle it solely depends on how we have planned and secured the timely financial security of our loved ones.

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  • Highest returns plan with low premium
  • Limited premium payment plan, upto 9 years premium holiday
  • Flexible premium payment terms to choose
  • Returns are not linked to any share market
  • Enjoy double Tax benefits, both on premiums paid and returns
  • Enhanced risk cover with accident coverage

Key Features Of LIC Jeevan Labh Plan

  • High Bonus Attracting Plan
  • Premiums need to be paid for less number of years than Maturity year
  • Ideal Plan for planning Child’s Education and Marriage
  • Options to avail accidental benefit and term riders
  • Paid premiums are exempted from income tax under 80C
  • Maturity/Death claim amount is tax free under 10 (10D)
Buy LIC Jeevan Labh online

LIC Jeevan Labh Policy Terms and Conditions

Minimum Age 8 years(Completed)
Maximum Age 59 years for 16 years policy term
54 years for 21 years policy term
50 years for 25 years policy term
Policy Term 16 years / 21 years / 25 years
Premium paying term 10 years (for 16 years policy term)
15 years (for 21 years policy term)
16 years (for 25 years policy term)
Minimum Sum Assured Rs.2,00,000
Maximum Sum Assured No limit
Premium payment mode Yearly / Half yearly / Quarterly / Monthly (ECS)
Loan Eligible after 2 years
Surrender Eligible after 2 years
On Death Sum Assured + Bonus
On Maturity Sum Assured + Bonus + Final bonus
Income Tax Benefits (i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount / Death claim is Non taxable u/s 10(10d)

How does LIC Jeevan Labh Plan work

Buy LIC Jeevan Labh Online Illustraion

LIC Jeevan Labh Benefits

Death Benefit

If the policy holder of the LIC Jeevan Labh plan expires during the plan duration, the death benefits will include:

  • Sum Assured on death
  • Any vested bonuses
  • Final Bonus as declared by LIC

The Sum Assured on Death is higher of the following:

  • 105% of the Basic Sum Assured
  • 10 times the annual premium

Maturity Benefit

In Jeevan Labh, a policyholder needs to pay premium during Premium Paying Term (PPT) and then the policyholder has to wait for completion of Policy Term before receiving maturity amount which is equal to Basic Sum Assured + Simple Reversionary Bonus + Final Addition Bonus (FAB), if any.


LIC Jeevan Labh Plan also comes with a Surrender Value feature under which a particular percentage of the Premium Amount is given back to the insured in case the policy holder decides to surrender the policy after completion of 3 policy years.


A policyholder is eligible for a loan if 2 years the full premium amount is paid, followed by the policy acquiring a surrender value

Income Tax Benefit

The policy’s tax benefits include an exemption on the deposited premium of up to Rs 1.5 lakh per financial year which falls under 80C of the Income Tax Act, and a maturity amount equal to 10 times the annual premium is also exempt from taxes under section 10(10D).

Profit Participation

LIC Jeevan Labh LIC Jeevan Labh Online Purchase participates in the profits of LIC and the policy accumulates Simple Reversionary Bonuses and Final Additional Bonus which enhance the benefits and is declared based on the experience of the company. Simple Reversionary Bonus is offered to the insured in case of a Death Benefit or as a part of the Maturity benefit.

Life Cover:

On the death of the policy holder, the nominee will receive Sum Assured on death plus any vested bonuses & final Bonus as declared by LIC. By opting for additional premium and opting for riders, the policy holder can also be covered against Accidental Death & Disability and can avail of Term Assurance benefit LIC’s Term Assurance Rider on his life.

Additional Benefits of LIC Jeevan Labh Plan


i. Accidental death and disability rider benefit

With the accidental death and disability rider benefit, in case of accidental demise of the insured person, an accidental rider benefit sum assured is payable as a lump-sum amount to the beneficiary of the policy along with the death benefit under the base plan. Similarly, in the case of accidental disability, the accidental rider benefit sum assured is paid in equal monthly instalments for 10 years. Furthermore, all premiums paid or future premium payments are waived off.

ii. New Term Assurance Rider

LIC New Term Assurance Rider can be availed at the inception of the policy and under this rider option, LIC will offer the beneficiary an additional term assurance sum assured amount in case of policy holder during the policy tenure. This rider option is available for a policy tenure of 35 years or until the plan anniversary when the policyholder turns 75 years of age, whichever happens first.


i. Final Addition Bonus
This is a bonus which is paid at the time of maturity or death.

ii. Simple Reversionary Bonus
If you decide to exit from the policy during the policy period by surrendering it, then a certain portion of such accrued bonus will be payable to you

Documents required for LIC policy - Online vs Offline
Buying LIC Policy Online with Buying A Policy Offline visiting LIC branch or through an agent
Address Proof Aadhar Zip File Address Proof Aadhar
ID Proof ID Proof Pan Card or Aadhar
Age Proof Age Proof Aadhar / Driving License
Income Proof IT Returns of last 2 years
Photo Passport Photo
Buying Online Policy with
Address Proof Aadhar
ID Proof
Age Proof
Buying A Policy Offline visiting LIC branch or through an agent
Address Proof Aadhar
ID Proof Pan Card or Aadhar
Age Proof Aadhar / Driving License
Income Proof IT Returns of last 2 years
Photo Passport Photo
Frequently Asked Questions

1. What happens if premiums are not paid within the grace period?

Policy will lapse and Insurance coverage will stop.

2. How is LIC Jeevan Labh policy profitable from an investment point of view?

It's a high returns plan. For policy term 25 years, your returns will be 3.5 times of the premiums paid.

3. Which LIC Scheme should I apply for with a premium not exceeding 3,000/month, if I am a government employee?

Jeevan Anand & Jeevan Labh

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LIC Policy holders enjoy sovereign guarantee by Govt. of India

LIC policyholders enjoy a sovereign guarantee on the sum assured and the bonus declared as per section 37 of LIC Act, 1956 which clearly states that "Policies to be guaranteed by Central Government - The sum assured by all policies issued by the corporation including any bonuses declared in respect thereof and, subject to the provisions contained in section 14 the amounts assured by all policies issued by any insurer the liabilities under which have vested in the corporation under this act, and all bonuses declared in respect thereof, whether before or after the appointed day, shall be guaranteed as to payment in cash by the Central Government."