LIC Jeevan Labh (Plan 736) is one of LIC's most popular limited-premium endowment plans. It's a great option for those who want to finish paying premiums early in their career but still enjoy the full benefits for the entire policy term. In this guide, we'll cover everything you need to know about Plan 736 in 2026 — eligibility, premium, maturity, bonuses, tax benefits, and real examples.
What is LIC Jeevan Labh 736?
Jeevan Labh is a limited-premium endowment plan where you pay premiums for 10, 15, or 16 years, and the policy continues for 16, 21, or 25 years respectively. It offers:
- ✅ Life cover throughout the term
- ✅ Accrued Simple Reversionary Bonus every year
- ✅ Final Addition Bonus (FAB) at maturity
- ✅ Tax benefits under Section 80C and 10(10D)
- ✅ Loan facility after 2 years of premium payment
Jeevan Labh 736 - Key Specifications
| Plan Name | LIC Jeevan Labh |
|---|---|
| Table Number | 736 |
| Plan Type | Limited Premium Endowment + Bonus |
| Premium Paying Term (PPT) | 10, 15 or 16 years |
| Policy Term | 16, 21 or 25 years |
| Minimum Age at Entry | 16 years (completed) |
| Maximum Age at Entry | 50 years (last birthday) |
| Maximum Age at Maturity | 75 years |
| Minimum Sum Assured | ₹2,00,000 |
| Maximum Sum Assured | No upper limit (subject to underwriting) |
| Premium Modes | Yearly, Half-Yearly, Quarterly, Monthly (SSS) |
| Bonus Rate (Indicative) | ~₹45 per ₹1,000 SA per year |
| FAB Rate (Indicative) | ~₹90 per ₹1,000 SA (one-time at maturity) |
PPT × Term Combinations
You can choose from 3 combinations based on your financial planning:
| PPT (Premium Paying Term) | Policy Term | Coverage Years Without Premium | Best For |
|---|---|---|---|
| 10 years | 16 years | 6 years | Quick premium finish |
| 15 years | 21 years | 6 years | Balanced approach |
| 16 years | 25 years | 9 years | Maximum maturity & bonus |
Pro tip: The 16-year PPT × 25-year term gives the highest maturity value because you accumulate bonus for 25 years but only pay premiums for 16 years.
Real Example: Jeevan Labh Premium & Maturity
Let's see what Sandeep, age 30, would pay and receive for a ₹10 lakh Sum Assured with 16-year PPT and 25-year term:
| Sum Assured | ₹10,00,000 |
|---|---|
| Premium Paying Term (PPT) | 16 years |
| Policy Term | 25 years |
| Yearly Premium (before GST) | ~₹48,000 |
| Yearly Premium (with 18% GST) | ~₹56,640 |
| Total Premiums Paid (16 years) | ~₹9,06,240 |
| Accrued Bonus (₹45 × 1000 × 25 years) | ~₹11,25,000 |
| Final Addition Bonus (FAB) | ~₹90,000 |
| Total Maturity Value | ~₹22,15,000 |
| Net Return on Investment | ~144% (CAGR ~5.5%) |
👉 Use our calculator for your personalized estimate →
Benefits Explained
Death Benefit
On the unfortunate death of the policyholder during the policy term, the nominee receives:
- "Sum Assured on Death" — the higher of:
- 7× annualised premium, OR
- 105% of total premiums paid till date of death
- Plus accrued Simple Reversionary Bonus till date of death
- Plus Final Addition Bonus (FAB), if applicable
Maturity Benefit
If the policyholder survives the full term, the maturity benefit is:
- Sum Assured + Accrued Bonus + FAB (if any)
All paid as a tax-free lump sum under Section 10(10D).
Tax Benefits of Jeevan Labh 736
Jeevan Labh offers two tax benefits:
- Section 80C — Premium paid is eligible for deduction up to ₹1,50,000 per year (under Old Tax Regime).
- Section 10(10D) — Maturity benefit is fully tax-free, subject to the condition that annual premium is not more than 10% of Sum Assured.
Use our Tax Savings Calculator to estimate your exact tax savings.
Jeevan Labh 736 vs New Endowment 714
Many people compare Jeevan Labh with the basic New Endowment plan. Here's how they differ:
| Feature | Jeevan Labh 736 | New Endowment 714 |
|---|---|---|
| Premium Paying Term | 10/15/16 years (limited) | Equal to policy term |
| Yearly Premium | Higher (spread over fewer years) | Lower (spread over full term) |
| Total Premium Outflow | ~Same total premium | ~Same total premium |
| Maturity Value | Higher (more bonus accumulation) | Lower (less bonus) |
| Best for | Front-load premium, then stop | Spread premium across full term |
| Loan facility | After 2 years | After 3 years |
👉 Read more in our detailed Jeevan Labh vs Endowment comparison
Should You Buy Jeevan Labh 736 in 2026?
Jeevan Labh is a great choice if you:
- ✅ Want to finish paying premiums early in your career
- ✅ Have stable income to commit to the higher yearly premium
- ✅ Want a large maturity value
- ✅ Want tax-free returns under 10(10D)
- ✅ Are 16-50 years old (within eligibility)
It may NOT be the best choice if you:
- ❌ Prefer lower yearly outflow (consider New Endowment 714 instead)
- ❌ Want lifelong cover after maturity (consider New Jeevan Anand 715)
- ❌ Want periodic payouts (consider Money Back 720/721 or Jeevan Umang 745)
- ❌ Are older than 50 (limited entry age)
How to Buy Jeevan Labh 736
You can buy Jeevan Labh through:
- Licensed LIC Agent — visit your local LIC branch or contact an agent
- LIC e-Services Portal — buy online at lic.in
- LIC Premium Calculator — use our calculator to get an estimate first