LIC Jeevan Labh Plan 736 Calculator
Premium, Bonus, FAB & Maturity Benefit Estimator
Optional Riders
What if you could stop paying insurance premiums years before your policy matures — yet still receive full life cover AND a large lump sum at the end? That is exactly what the LIC Jeevan Labh Plan 736 offers. It is one of LIC’s most financially efficient endowment plans, built around a limited premium payment structure that lets policyholders pay for a shorter duration while enjoying long-term protection and a significantly enhanced maturity corpus.
In this comprehensive 2026 guide, we cover everything you need to know about LIC Jeevan Labh Plan 736 — its features, eligibility, maturity and death benefits, premium calculation, optional riders, and a step-by-step walkthrough of the LIC Jeevan Labh Plan 736 Calculator.
What Is LIC Jeevan Labh Plan 736?
The LIC Jeevan Labh Plan (Plan No. 736) is a participating, non-linked, individual savings life insurance plan offered by the Life Insurance Corporation of India (UIN: 512N304V03).
The name “Jeevan Labh” means “Life Profit” — and the plan lives up to this name by delivering a disproportionately large maturity benefit relative to the premiums paid, thanks to its limited premium paying term and bonus accumulation over a longer policy period.
The plan is designed for:
- Individuals who want maximum savings with minimum premium commitment period
- Families looking for life cover plus long-term wealth creation
- People who want to clear financial obligations (like loans or children’s expenses) on a specific date
The Core Idea: You pay premiums for only 10, 15, or 16 years. Your policy, however, runs for 16, 21, or 25 years respectively. Bonuses accumulate for the ENTIRE policy term — including the years after you stop paying. This gap between the paying period and the policy term is what creates the “Labh” (profit) advantage.
Key Features of LIC Jeevan Labh Plan 736 at a Glance (2026)
| Feature | Details |
|---|---|
| Plan Type | Participating, Non-Linked, Limited Pay Endowment |
| UIN | 512N304V03 |
| Policy Term Options | 16, 21, or 25 years (fixed — no custom terms) |
| Premium Paying Term (PPT) | 10 years (for 16-yr term), 15 years (for 21-yr term), 16 years (for 25-yr term) |
| Minimum Entry Age | 8 years (completed) |
| Maximum Entry Age | 59 yrs (16-yr term), 54 yrs (21-yr term), 50 yrs (25-yr term) |
| Maximum Maturity Age | 75 years (nearer birthday) |
| Minimum Sum Assured | ₹2,00,000 |
| Maximum Sum Assured | No upper limit |
| Premium Modes | Yearly, Half-Yearly, Quarterly, Monthly |
| Loan Facility | Available after 1 year of premium payment |
| Surrender | Available after minimum premium payments |
| Free Look Period | 15 days from policy receipt |
The Limited Pay Advantage — What Makes Plan 736 Unique
Most endowment plans require premiums to be paid for the entire policy term. LIC Jeevan Labh 736 breaks this pattern with its limited premium payment feature, which is its most defining characteristic.
How the PPT-Policy Term Combinations Work
| Policy Term | Premium Paying Term | You Pay For | Coverage Continues For | Extra No-Premium Years |
|---|---|---|---|---|
| 16 years | 10 years | 10 years | 16 years | 6 years |
| 21 years | 15 years | 15 years | 21 years | 6 years |
| 25 years | 16 years | 16 years | 25 years | 9 years |
The 25-year policy / 16-year PPT combination is the most popular because:
- You stop paying premiums 9 years before maturity
- Bonuses continue to accrue for all 25 years
- The final maturity corpus is significantly larger than the total premium paid
Eligibility Criteria for LIC Jeevan Labh Plan 736
Age Requirements by Policy Term
| Policy Term | Min Entry Age | Max Entry Age | Min Maturity Age | Max Maturity Age |
|---|---|---|---|---|
| 16 years | 8 years | 59 years | 24 years | 75 years |
| 21 years | 8 years | 54 years | 29 years | 75 years |
| 25 years | 8 years | 50 years | 33 years | 75 years |
Important: The maximum entry age differs based on your chosen policy term. A 55-year-old can still buy this plan under the 16-year term option, but NOT under the 21 or 25-year options. Always check your eligibility before selecting the policy term.
Sum Assured Conditions
- Minimum: ₹2,00,000
- Maximum: No upper limit (subject to underwriting)
- Available in multiples of ₹10,000 (for SA up to ₹4,00,000) and ₹50,000 (above ₹4,00,000)
Benefits of LIC Jeevan Labh Plan 736
1. Maturity Benefit
If the policyholder survives the full policy term with all premiums duly paid, the maturity benefit is paid as a lump sum:
Maturity Amount = Basic Sum Assured + Vested Simple Reversionary Bonuses + Final Additional Bonus (FAB)
Because the policy term is longer than the premium paying term, bonuses accumulate for many more years than premiums are paid — creating a substantial final corpus.
2. Death Benefit
In case of the unfortunate death of the policyholder during the policy term (with the policy in force):
Death Benefit = Sum Assured on Death + Accrued Simple Reversionary Bonuses + Final Additional Bonus (if applicable)
The Sum Assured on Death is the higher of:
- 7 times the annualised premium, or
- 105% of all premiums paid till the date of death, or
- The Basic Sum Assured
This formula ensures that even if death occurs early in the policy term, the nominee always receives a meaningful and fair payout.
3. Bonus Structure
LIC Jeevan Labh 736 is a participating plan, meaning it earns profits for the policyholder through:
- Simple Reversionary Bonus (SRB): Declared annually by LIC as a percentage of the Sum Assured. Once vested, it is guaranteed and cannot be reversed. It accumulates throughout the entire policy term — even the years after premium payment stops.
- Final Additional Bonus (FAB): A special one-time bonus declared at maturity (or at death after a minimum policy duration). It rewards the policyholder for staying invested for the full term and is a significant part of the total maturity payout.
2026 Bonus Note: Bonuses are not guaranteed in advance and depend on LIC’s annual profit declarations. However, LIC has a strong, decades-long track record of consistent bonus announcements. The assumed bonus rate used in most calculators is ₹47–₹50 per ₹1,000 Sum Assured for illustrative purposes.
4. Premium Waiver After Death (Built Into Riders)
Unlike LIC Jeevan Lakshya (733), Plan 736 does not have a built-in premium waiver. However, the Premium Waiver Benefit (PWB) Rider is available as an optional add-on, which waives future premiums if the proposer (e.g., a parent buying the policy for a child) dies during the policy term.
5. Loan Facility
Once the policy acquires a surrender value (after completing at least one year of premium payment), policyholders can avail a loan against the policy as a percentage of the surrender value as per LIC norms. This provides liquidity during financial emergencies without having to surrender the policy.
6. Surrender Value
The policy can be surrendered after the minimum premium payment requirements are met. The surrender value depends on the number of premiums paid and the elapsed policy term. Early surrender leads to a financial loss and is not recommended.
7. Paid-Up Value
If the policyholder is unable to continue premiums after paying for at least two full years, the policy converts into a paid-up policy with a reduced sum assured, maintaining coverage until the original maturity date.
8. Settlement Option
Both maturity and death benefits can be received as:
- A one-time lump sum, or
- Instalments spread over 5, 10, or 15 years as per the policyholder’s or nominee’s preference
LIC Jeevan Labh Plan 736 Calculator – How It Works (2026)
The LIC Jeevan Labh Plan 736 Calculator is a free online tool that computes your financial commitment and projected benefits with precision. Given the plan’s unique limited-pay structure, the calculator is especially useful for understanding how the premium paying term and policy term combination affects your total outgo versus maturity returns.
What the Calculator Estimates
- Yearly, half-yearly, quarterly, and monthly premium amount (including GST)
- Total premium paid across the entire premium paying term
- Total maturity amount (Basic SA + Bonuses + FAB)
- Death benefit at any point during the policy term
- Premium-to-maturity return ratio
Step-by-Step: How to Use the Calculator
- Enter Your Name – Optional, for result personalisation
- Enter Your Age – In nearest birthday format (8 to 50/54/59 years)
- Select Policy Term – Choose 16, 21, or 25 years
- Enter Sum Assured – Minimum ₹2,00,000 in allowed multiples
- Choose Premium Mode – Yearly, half-yearly, quarterly, or monthly
- Add Optional Riders – AD&DB, Term Assurance, or PWB Rider
- Click Calculate – Results display instantly
Why This Calculator Is Essential Before You Buy
- See the real cost vs. benefit: Compare what you pay vs. what you get — a key ratio in Plan 736 is often 1:3 or better over 25 years
- Choose the right policy term: 16, 21, or 25 years — each gives different maturity totals
- Evaluate riders: See how adding an accidental rider changes your monthly outgo
- Plan premium payment schedule: Understand that you pay for only 16 years on a 25-year plan — the calculator makes this crystal clear
LIC Jeevan Labh Plan 736 – Premium Calculation Example (2026)
Example 1: Age 25, Policy Term 25 Years
| Parameter | Details |
|---|---|
| Age | 25 years |
| Sum Assured | ₹15,00,000 |
| Policy Term | 25 years |
| Premium Paying Term (PPT) | 16 years |
| Riders | None |
Premium Breakdown (Including GST):
| Premium Mode | Amount |
|---|---|
| Yearly | ₹69,353 |
| Half-Yearly | ₹35,057 |
| Quarterly | ₹17,719 |
| Monthly (ECS/NACH) | ₹5,906 |
Projected Maturity Details:
| Component | Amount |
|---|---|
| Total Premium Paid (over 16 years) | ₹11,09,648 |
| Basic Sum Assured | ₹15,00,000 |
| Vested Bonuses (Approx.) | ₹17,62,500 |
| Final Additional Bonus (FAB) | ₹6,75,000 |
| Total Maturity Amount | ₹39,37,500 |
Return on Premium: You pay ₹11.09 lakh over 16 years and receive ₹39.37 lakh at maturity — a return of 3.55x your premium outgo. This ratio is one of the highest among traditional endowment plans, driven by the 9-year “bonus-only” period where no premiums are needed.
Example 2: Age 30, Policy Term 21 Years
| Parameter | Details |
|---|---|
| Age | 30 years |
| Sum Assured | ₹10,00,000 |
| Policy Term | 21 years |
| Premium Paying Term | 15 years |
| Riders | None |
Quick Snapshot:
| Component | Amount |
|---|---|
| Yearly Premium (approx.) | ₹50,500 |
| Total Premium Over 15 Years | ₹7,57,500 |
| Basic Sum Assured | ₹10,00,000 |
| Estimated Bonuses | ₹9,87,000 |
| FAB (estimated) | ₹2,00,000 |
| Total Maturity | ~₹21,87,000 |
Disclaimer: Bonus and FAB values in both examples are indicative and based on an assumed bonus rate of ₹47/₹1,000 SA as of 2026. Actual bonuses are declared annually by LIC and are not guaranteed.
How Premiums Are Calculated – Key Factors
Variables That Determine Your Premium
| Factor | Impact on Premium |
|---|---|
| Age | Older age = higher premium per lakh |
| Sum Assured | Higher SA = higher premium (with rebates at higher slabs) |
| Policy Term | Longer term = lower annual premium |
| PPT | Shorter PPT relative to term = slightly higher per-year premium |
| Premium Mode | Yearly is cheapest; monthly is marginally higher |
| Riders Selected | Add-ons increase premium proportionally |
Rebates Available (2026)
Mode Rebate:
- Yearly mode: 2% rebate on tabular premium
- Half-yearly mode: 1% rebate on tabular premium
- Quarterly and monthly: No rebate
High Sum Assured Rebate:
- SA ₹2,00,000 to ₹4,75,000: No rebate
- SA ₹5,00,000 to ₹9,75,000: Rebate of ₹2 per ₹1,000 SA
- SA ₹10,00,000 and above: Rebate of ₹3 per ₹1,000 SA
This means a ₹15 lakh sum assured automatically earns a ₹3/₹1,000 rebate — reducing the effective premium by ₹4,500 per year before mode adjustments.
GST on Premium
- Policy Year 1: 4.5% GST
- Year 2 onwards: 2.25% GST
Optional Riders for Enhanced Protection
The following riders can be added to LIC Jeevan Labh Plan 736 at the time of policy purchase:
1. Accidental Death and Disability Benefit Rider (AD&DB)
Provides an additional sum equal to the rider Sum Assured if death occurs due to an accident. Also covers permanent total disability resulting from an accident, providing a disability income benefit.
2. Accidental Benefit Rider
A simpler alternative to AD&DB. Pays the rider Sum Assured as an additional one-time benefit if death occurs due to an accident. No disability component.
3. New Term Assurance Rider
Adds a pure term life insurance layer on top of the base endowment plan. This is useful if you feel the base sum assured is insufficient relative to your family’s income replacement needs.
4. Premium Waiver Benefit (PWB) Rider
Available when a parent or guardian buys the policy for a child (as proposer). If the proposer dies during the policy term, all remaining premiums are waived — the policy stays active and the child receives full maturity benefits.
Rider Tip: For a 25-year-old buying a 25-year plan, the AD&DB Rider is highly recommended. The additional premium is low relative to the protection it adds, especially during the earning years.
Policy Terms You Must Know
Grace Period
A 30-day grace period is provided after the premium due date. If the premium is paid within this window, the policy remains in force without penalty.
Revival of Lapsed Policy
If the policy lapses due to non-payment, it can be revived within 5 years from the date of the first unpaid premium by clearing all dues with applicable interest and a health declaration.
Free Look Period
A 15-day free look period is available from the date of receiving the policy bond. If unsatisfied with the terms, the policyholder can return the policy for a full refund of premiums paid, less proportionate risk premium and administrative charges.
Tax Benefits Under LIC Jeevan Labh Plan 736 (2026)
| Section | Tax Benefit |
|---|---|
| Section 80C | Premium paid deductible up to ₹1,50,000 per financial year |
| Section 10(10D) | Maturity amount and death benefit are tax-exempt (subject to conditions) |
2026 Tax Note: For policies where the annual premium exceeds 10% of the Basic Sum Assured (for policies issued after April 1, 2012), the maturity amount may be partially taxable under the prevailing income tax framework. Verify your specific situation with a certified tax professional.
Pros and Cons of LIC Jeevan Labh Plan 736
Pros
- ✅ Pay less, earn more — premium payment stops years before maturity
- ✅ Three fixed policy term choices — easy to align with specific life goals (child’s education, retirement, etc.)
- ✅ High maturity corpus — bonuses accumulate even during no-premium years
- ✅ Non-market-linked — zero equity risk, returns are predictable
- ✅ Four optional riders including PWB for child policies
- ✅ Tax benefits on both premium and maturity
- ✅ Loan facility for emergency liquidity
- ✅ Government-backed trust — LIC’s sovereign guarantee
Cons
- ❌ No flexible policy term — only 16, 21, or 25 years (cannot choose a custom term)
- ❌ Higher annual premium compared to regular-pay endowment plans for same SA
- ❌ Lower returns than equity instruments over 25 years (no market upside)
- ❌ Early surrender leads to loss — not suitable for short-term needs
- ❌ Bonuses not guaranteed — LIC declares them annually based on profits
Who Should Buy LIC Jeevan Labh Plan 736?
Ideal for:
- Young professionals (age 25–35) who want to stop paying premiums by their 40s but continue building wealth
- Parents planning for a child’s milestone (education at age 18 or marriage at age 25)
- Individuals with a time-bound financial goal that aligns with the 16, 21, or 25-year terms
- Conservative savers who want market-risk-free, inflation-beating returns through LIC bonuses
- Those with limited monthly budget who benefit from the stop-payment feature in their later earning years
Not ideal for:
- Those seeking a custom policy term outside 16/21/25 years
- Those needing high liquidity within the first few years
- Investors primarily focused on maximising returns (equity alternatives may suit better)
LIC Jeevan Labh 736 vs Other LIC Plans – Quick Comparison
| Parameter | Jeevan Labh 736 | Jeevan Lakshya 733 | New Endowment 714 |
|---|---|---|---|
| Policy Term | 16, 21, or 25 only | 13 to 25 years | 12 to 35 years |
| Premium Paying Term | Shorter than policy term | Policy Term − 3 years | Equal to policy term |
| Annual Income on Death | ❌ No | ✅ Yes – 10% of SA | ❌ No |
| Max Entry Age | 59 years (varies by term) | 50 years | 55 years |
| Best For | High corpus with limited pay | Family income after death | Long-term flexible savings |
| Maturity Potential | Very High | High | Moderate to High |
Frequently Asked Questions (FAQs)
Q1. What is LIC Jeevan Labh Plan 736?
LIC Jeevan Labh Plan 736 is a participating, non-linked, limited premium payment endowment plan by LIC. It offers life cover for the full policy term (16, 21, or 25 years) while premiums are paid for a shorter duration (10, 15, or 16 years respectively), allowing bonus accumulation to continue even after premium payments end.
Q2. What are the available policy terms under Plan 736?
Only three fixed options are available: 16 years, 21 years, or 25 years. There is no provision for a custom policy term under this plan.
Q3. How does the limited premium payment work in Plan 736?
You pay premiums for only 10, 15, or 16 years (depending on the chosen policy term), but your policy continues to remain active and bonus-earning for 16, 21, or 25 years. After your premium payment term ends, no more payments are needed, yet the policy stays fully in force until maturity.
Q4. How does the LIC Jeevan Labh Plan 736 Calculator help?
The calculator estimates your exact premium based on your age, sum assured, policy term, and payment mode. It also projects the expected maturity corpus (including bonuses and FAB), the total premium outgo, and the death benefit — all in one place, making it easy to evaluate the plan before buying.
Q5. What is the death benefit under Plan 736?
The nominee receives the higher of 7 times the annualised premium, 105% of all premiums paid till date, or the Basic Sum Assured — whichever is greatest — plus accrued bonuses and FAB (if applicable).
Q6. Can I get a loan against LIC Jeevan Labh Plan 736?
Yes. Once the policy acquires a surrender value (after one year of full premium payment), you can avail a loan as a percentage of the surrender value as per LIC’s prevailing norms.
Q7. Is there a Premium Waiver Benefit rider available?
Yes. The Premium Waiver Benefit (PWB) Rider is available under Plan 736, particularly useful when a parent buys the plan for a minor child. If the parent (proposer) dies during the policy term, future premiums are waived and the child’s policy continues with full benefits.
Q8. What is the minimum sum assured under LIC Plan 736?
The minimum Basic Sum Assured is ₹2,00,000, with no maximum limit (subject to LIC’s underwriting guidelines).
Q9. Are the bonuses guaranteed under this plan?
No. Bonuses (both Simple Reversionary and Final Additional) are not guaranteed in advance. They are declared by LIC annually based on the company’s actual profits. However, LIC has a strong historical track record of regular bonus declarations.
Q10. What are the tax benefits on LIC Jeevan Labh Plan 736 in 2026?
Premiums paid are deductible under Section 80C up to ₹1,50,000 per year, and the maturity amount is generally tax-exempt under Section 10(10D), subject to conditions under the Income Tax Act as applicable in 2026. Consult a tax advisor for guidance specific to your situation.
Conclusion – Is LIC Jeevan Labh Plan 736 Worth It in 2026?
In 2026, the LIC Jeevan Labh Plan 736 stands out as one of the most strategically designed traditional endowment plans for individuals who want to stop paying premiums early while maximising their long-term maturity corpus.