Jeevan labh calculator

Jeevan Labh Calculator: Planning Your Life Insurance Effectively

Life is full of uncertainties, and one of the best ways to protect your loved ones financially is through life insurance. Jeevan Labh is a popular life insurance policy offered by the Life Insurance Corporation of India (LIC). To help you understand the benefits and plan your insurance effectively, we present the Jeevan Labh Calculator. In this article, we will delve into the details of Jeevan Labh, explain how the calculator works, and guide you in making informed decisions regarding your life insurance needs.

Introduction to Jeevan Labh

Jeevan Labh is a non-linked, with-profit endowment plan provided by LIC, one of the leading insurance providers in India. This policy offers both financial protection and savings for policyholders. It ensures that your family is financially secure even in your absence.

Understanding the Jeevan Labh Calculator

The Jeevan Labh Calculator is a valuable tool that helps individuals determine the premium, maturity benefits, and approximate returns on investment for the Jeevan Labh policy. By providing specific inputs such as age, policy term, and sum assured, you can get an estimate of the benefits you can expect from this policy.

How Does Jeevan Labh Work?

Jeevan Labh works on the principle of providing life cover throughout the policy term and a lump sum amount at the end of the policy term. If the policyholder survives till the maturity of the policy, they receive the maturity benefits, which include the sum assured, bonuses, and a final additional bonus (if any). In case of the policyholder's unfortunate demise during the policy term, the death benefit is paid to the nominee.

Benefits of Jeevan Labh Policy

The Jeevan Labh policy offers several benefits to policyholders, making it a popular choice among individuals seeking life insurance. Some of the key benefits include:

• Death Benefit: In the event of the policyholder's demise during the policy term, the nominee receives the sum assured along with accrued bonuses.
• Maturity Benefit: If the policyholder survives the entire policy term, they receive the sum assured, along with vested bonuses and a final additional bonus (if applicable).
• Bonuses: The policy participates in the profits of LIC, which results in the accumulation of bonuses. These bonuses enhance the maturity and death benefits.
• Loan Facility: Policyholders have the option to avail loans against the Jeevan Labh policy, providing financial flexibility in times of need.
• Tax Benefits: The premiums paid and the benefits received under the Jeevan Labh policy are eligible for tax benefits under the prevailing tax laws of India.

Factors Affecting Jeevan Labh Premium

The premium for the Jeevan Labh policy depends on various factors, including the policyholder's age, policy term, sum assured, and premium payment mode. It is essential to consider these factors while calculating the premium using the Jeevan Labh Calculator.

Sonam Tobgay

Founder

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