There are multiple benefits lined up with the Jeevan Labh Plan stated below:
- Death Benefit
In the case that the policy holder or the beneficiary dies in the due course of the term of the policy, the death benefit shall be payable to the family of the deceased policy holder. However, this amount shall only be paid provided all the premiums that were due have been cleared and sanctioned successfully.
- Maturity Benefit
If the policy holder is present and alive at the end of the due course of time of the maturity of the policy, then the maturity amount is paid to him/her. This amount is inclusive of the lump sum and any other additional benefits such as revisionary bonuses, etc.
- There are multiple add-on services which can be added to a policyholder’s existing policy. These ensure that the user is privy and updated to the new changes being taken place in this sphere of that certain policy. However, the user must be aware that these additional services will require an extra cost of premium.
- Besides these regular payments of premium, the policyholders also get to enjoy various tax benefits, tax redemptions and rebates when they register for these policies.
- This policy also provides its clients with a complete and holistic protection program against any kind of disability to the policyholder and/or their nominees and their accidental death. Users must, however, keep in mind that this particular benefit, which is often known as the Disability Benefit Rider, is only allowed to be availed by those who are over the age of 18.
The Jeevan Labh Policy 936 is a premium-paying based plan with profit endowments that serve its users with an amalgamation of savings and fund protection. This plan is essentially meant to provide viable fiscal support to the family members of a policyholder on his or her untimely death before the policy matures. The money held in for the policy can be used any time before maturity and also after maturity as a lump sum in case the policyholder is alive. The LIC Jeevan Labh Plan also takes into care and consideration the liquification of funds which may be required through its facility of a ‘loan’.