LIC Jeevan Labh Calculator
Estimate your policy maturity value and learn about LIC Jeevan Labh features
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About LIC Jeevan Labh Policy
LIC Jeevan Labh is one of the most popular endowment plans offered by the Life Insurance Corporation of India. It is designed to provide financial security through regular maturity benefits and bonus additions while offering protection to the policyholder’s family.
Key Features:
- Dual Benefit: Combines savings and protection, offering a lump sum maturity benefit along with a death benefit.
- Bonus Scheme: Regular bonuses are declared, which enhance the maturity amount and reflect the company’s performance.
- Fixed Premium: A limited premium structure helps in planning your finances effectively.
- Tax Benefits: Premiums paid and maturity benefits received are eligible for tax deductions under Indian tax laws.
Calculation Method:
Our LIC Jeevan Labh Calculator estimates the maturity value using the simplified formula:
Maturity Value = (Annual Premium × Policy Term) × (1 + Bonus Rate/100)
This calculation assumes that the total premiums paid over the policy term are enhanced by the bonus rate. Although actual calculations may involve additional bonus adjustments, this tool offers a quick estimate to help you plan your future savings.
LIC Jeevan Labh is ideal for individuals seeking a balanced approach to savings and protection, helping you build a corpus while providing financial security for your family.