LIC Jeevan Labh Plan 936 Calculator: Premium, Maturity Value & Benefits

What is LIC Jeevan Labh Plan 936?

LIC Jeevan Labh Plan 936 is a traditional savings-cum-protection policy from Life Insurance Corporation of India. It is a non-linked, with-profit, limited premium endowment plan. In plain terms:

• Non-linked: returns do not depend on the stock market.
• With-profit: the policy shares in LIC’s surplus through yearly bonuses.
• Limited premium: you pay premiums for fewer years than the policy runs.

The plan was launched on 1 February 2020 (UIN 512N304V02) and withdrawn on 1 October 2024. It was replaced by Jeevan Labh 736. If you already hold a 936 policy, it continues as normal, and the calculator above estimates what you pay and what you receive.

Jeevan Labh 936 at a glance

Feature	Details
Plan number / UIN	936 / 512N304V02
Plan type	Limited premium, with-profit endowment
Policy term	16, 21 or 25 years
Premium paying term	10, 15 or 16 years
Entry age	8 to 59 years (depends on term)
Maximum maturity age	75 years
Minimum sum assured	₹2,00,000 (no upper limit)
Premium modes	Yearly, half-yearly, quarterly, monthly (NACH/salary)
Bonus	Simple reversionary bonus + final additional bonus
Loan	After 2 full years of premium
Status	Withdrawn for new sales from 1 Oct 2024

Eligibility conditions

Policy term	Premium paying term	Max entry age
16 years	10 years	59 years
21 years	15 years	54 years
25 years	16 years	50 years

The minimum entry age is 8 years for all terms. Policies for minors below 18 come with a risk-commencement date. Until then, the death benefit is a refund of premiums rather than the full sum assured.

How the Jeevan Labh 936 premium is calculated

LIC prices this plan with a tabular premium: a fixed amount for every ₹1,000 of sum assured. That amount depends on your age, gender and chosen term. The calculator uses these steps:

1. Tabular rate × (sum assured ÷ 1,000) gives the base yearly premium.
2. A high sum assured rebate reduces the rate for covers of ₹5 lakh and above.
3. Mode loading applies if you pay half-yearly, quarterly or monthly instead of yearly.
4. No GST: individual life insurance premiums are GST-exempt from 22 September 2025. Before that, LIC charged 4.5% in the first year and 2.25% after.

Worked example: a 30-year-old man chooses a 21-year term and ₹10 lakh sum assured. He pays about ₹52,000 a year for 15 years, which is also the amount due, as no GST applies. Under the old 4.5% / 2.25% GST, the same policy cost about ₹54,340 in year one and ₹53,170 after. The chart below the calculator shows the same premium at other ages and terms.

Tip: the younger you start, the lower the rate per ₹1,000. Waiting five years typically raises the premium by 6–8%.

Maturity benefit

If the life assured survives the full term, LIC pays:

• the basic sum assured, plus
• all simple reversionary bonuses declared year by year, plus
• the final additional bonus (FAB), if LIC declares one for that year.

Bonus is declared per ₹1,000 sum assured. Recent Jeevan Labh bonus rates have been in the ₹40–50 per ₹1,000 range, depending on the term. For ₹10 lakh sum assured, a ₹45 bonus adds ₹45,000 every year the policy is in force. Over 21 years that is about ₹9.45 lakh, before any FAB. Change the bonus rate field in the calculator to see a cautious or an optimistic scenario.

Death benefit

If the policyholder dies during the term (after risk commencement), the nominee receives:

• Sum assured on death: the higher of the basic sum assured or 7 times the annualised premium, plus
• accrued simple reversionary bonuses and any final additional bonus.

The death benefit is never less than 105% of all premiums paid up to the date of death. Because the plan has a limited premium term, full cover continues even after you stop paying premiums.

Loan, surrender and paid-up value

• Loan: available after two full years’ premiums, as a percentage of the surrender value.
• Surrender: possible after two full years’ premiums. LIC pays the higher of the guaranteed surrender value and the special surrender value.
• Paid-up: if you stop paying after at least two years, the policy is not cancelled. It continues with a proportionately reduced sum assured, and bonuses already attached stay with it.

Use our LIC surrender value calculator to estimate what you would get if you exit early.

Tax benefits

Premiums are deductible under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (up to ₹1.5 lakh a year, old tax regime). The maturity amount and death claim are generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)), as long as the premium in any year stays within 10% of the sum assured.

Who is Jeevan Labh 936 suited to?

The plan suits people who:

• want a guaranteed, low-risk savings product with life cover;
• earn well now but want to finish paying early, for example before retirement or a child’s college years;
• value discipline and are comfortable with long-term, moderate returns.

It is not a pure term plan. If your main goal is high life cover at low cost, compare it with a term plan calculator first.

Jeevan Labh 936 vs Jeevan Labh 736

Plan 736 replaced 936 in October 2024 under IRDAI’s revised product rules. The structure is the same: 16, 21 or 25-year terms with 10, 15 or 16-year premium payment. The main changes are the premium rates and higher surrender values in the early years; the minimum sum assured stays at ₹2 lakh. Check the Jeevan Labh 736 calculator for current premiums.

How to use this calculator

1. Pick gender and enter age.
2. Choose the policy term. The premium paying term fills in automatically.
3. Enter the sum assured by typing it or using the slider.
4. Select the premium mode.
5. Read your yearly premium, instalment amount, maturity estimate and death benefit instantly. Use Share result to send the exact scenario to family or your agent.