LIC's Jeevan Labh (Plan No. 936, UIN No. 512N304V02) is a participating endowment plan that offers both life insurance and savings benefits. Here's what I know about it:

Key Features:

  • Limited premium payment term: You only need to pay premiums for a limited period, even though the policy term might be longer.
  • Maturity benefit: Upon policy maturity, you receive the sum assured along with any accrued bonuses.
  • Death benefit: In case of unfortunate death during the policy term, your nominee receives the sum assured along with any bonuses.
  • Participating plan: You're eligible to share in LIC's profits through bonuses declared by the company.
  • Tax benefits: Premiums paid are eligible for tax deductions under Section 80C of the Income Tax Act, 1961. Maturity and death benefits may also be tax-free under certain conditions.

Additional Information:

  • The UIN (Unique Identification Number) you provided helps identify your specific policy.
  • To get more details about your specific policy, such as premium amount, bonus rates, and maturity value, you can contact LIC directly or access your policy information online through the LIC website or app.
  • I can also help you answer specific questions you might have about the plan, like surrender value, loan options, or policy modifications.