Lic Jeevan Labh vs Lic Jeevan Shanti

LIC Jeevan Labh (Plan No: 936) is a limited premium paying, non-linked (not dependent on equity-based funds or the money/share market) with-profit endowment plan that offers various benefits to its clients.

It provides a combination of protection and savings, ensuring you stay protected and can save money efficiently. It also offers financial support to their family in need in case of the insured's unfortunate demise.

This is a basic endowment plan where you pay premiums for a limited time. At the end of the policy term, you receive the Maturity Benefits. In case of the policyholder's death during the policy term, the nominee will receive the Death Benefit, which includes the Sum Assured and bonuses.

LIC Jeevan Labh Plan offers a range of benefits, including:

Life Insurance Corporation (LIC) is an Indian insurance company owned by the Government of India. It was founded on 1st September 1956 and is headquartered in Mumbai, India. LIC caters to different segments of insurance products including health, pension, unit-linked, and others.

One of its key pension plans- LIC's New Jeevan Shanti (Plan No.858), is a non-linked, single premium, deferred annuity plan that allows the policyholder to choose between Single Life and Joint Life Annuity. The annuity rates are guaranteed to the policyholders at the inception of the policy and are paid post-deferment period throughout the lifetime of annuitants.

This policy was launched on 21st October 2020. Before this, the LIC Jeevan Shanti was available in two different variants- Immediate and Deferred Annuity under which Option A to Option J was available under Immediate Annuity Option. With the issuance of a new policy, the deferred annuity option is available under LIC's New Jeevan Shanti Plan.

LIC Jeevan Shanti Plan offers you a range of benefits including:

• Maturity benefits
• Death benefits
• Rebates

• Loan facility
• No medical examinations required