LIC Jeevan Labh Plan 736 Calculator
Enter Policy Details
Advanced Policy Illustration
Estimated Benefits Summary
Premium Details
| Brochure-based tabular annual premium | |
|---|---|
| Selected mode rebate | |
| Annualized premium after rebate | |
| Premium instalment | |
| Number of instalments during PPT | |
| Total estimated base premium |
Premium Mode Comparison
| Mode | Rebate | Each Instalment |
|---|
Maturity Benefit Illustration
| Basic Sum Assured | |
|---|---|
| Illustrative Simple Reversionary Bonus | |
| Illustrative Final Additional Bonus | |
| Illustrative Maturity Benefit |
Bonus and Final Additional Bonus are non-guaranteed. The calculator does not predict LIC’s future declarations.
Death Benefit Illustration
| Basic Sum Assured | |
|---|---|
| 7 × Annualized Premium | |
| Sum Assured on Death | |
| 105% of Premiums Paid Floor | |
| Illustrative Vested Bonus to Event Year | |
| Illustrative Total Death Benefit |
Paid-up Benefit Estimate
| Premium-paid ratio | |
|---|---|
| Death Paid-up Sum Assured | |
| Maturity Paid-up Sum Assured | |
| Vested bonus already earned | |
| Illustrative Paid-up Maturity Benefit |
A discontinued policy stops participating in future profits. This section uses only the illustrative bonus accrued for the years premiums were paid.
Guaranteed Surrender Value and Loan Estimate
| Policy year used | |
|---|---|
| Premium GSV factor | |
| GSV on eligible premiums | |
| Bonus GSV factor | |
| GSV on vested bonus | |
| Estimated Guaranteed Surrender Value | |
| Applicable maximum loan percentage | |
| Estimated maximum policy loan |
LIC pays the higher of Guaranteed Surrender Value and Special Surrender Value. Special Surrender Value and loan interest cannot be confirmed by this calculator.
Important: This is an educational estimate based on the LIC sales brochure for Plan 736. The brochure publishes sample premiums only for selected ages and ₹2,00,000 Basic Sum Assured; other premium values are interpolated and proportionately scaled. Actual premiums can differ because of LIC’s complete rate table, High Sum Assured rebate, underwriting, riders, modal treatment, rounding and applicable tax. Confirm all figures through an official LIC benefit illustration before making a decision.
The LIC Jeevan Labh Plan 736 Calculator estimates the premium, maturity benefit, bonus-based value and death cover under the current LIC Jeevan Labh Plan 736. It can also illustrate paid-up and surrender values when the required policy data is available. The calculation uses the chosen entry age, Basic Sum Assured, policy term, payment mode and clearly stated bonus assumptions.
Premium figures are estimates unless they are produced from LIC’s complete premium rate table. Future Simple Reversionary Bonuses and any Final Additional Bonus are not guaranteed. Actual premiums, benefits and policy conditions depend on LIC’s quotation, underwriting decision and the issued policy. The calculator is intended for education and comparison, not as an official LIC quotation.
Table of Contents
What Is the LIC Jeevan Labh Plan 736 Calculator?
The LIC Jeevan Labh 736 Calculator is an online estimation tool designed specifically for LIC Jeevan Labh Plan 736, UIN 512N304V03. It combines premium and benefit calculations on one page so that the financial structure of the policy is easier to understand before requesting an official quotation.
The calculator uses the age at entry, Basic Sum Assured and selected policy term to estimate the base premium. It automatically connects the policy term to the correct premium-paying term. Payment mode, high Sum Assured rebate and declared calculation assumptions may also affect the estimate.
For maturity, the tool separates the Basic Sum Assured from projected bonuses. This distinction matters because the Basic Sum Assured is the guaranteed basic maturity component when an in-force policy reaches maturity, while future bonuses depend on LIC’s declarations. The calculator may additionally show the Sum Assured on Death, total estimated premiums, paid-up value, surrender illustration and a year-wise schedule.
The final premium can change because of underwriting, age, payment mode, rider selection, taxes and policy-specific conditions. Rider premiums are included only when exact, applicable rate data is available.
Highlights of the Calculator
The calculator makes a limited-premium plan easier to evaluate by displaying the main inputs and results in one place. Its useful features include:
- Automatic matching of the 16, 21 or 25-year policy term with the correct premium-paying term
- Premium estimates for yearly, half-yearly, quarterly and monthly modes
- Separate display of guaranteed and non-guaranteed maturity components
- Visible assumptions for the Simple Reversionary Bonus and Final Additional Bonus
- Estimated death cover under the current Plan 736 rule
- Illustrations of paid-up and surrender values where sufficient data is available
- Year-wise premium and projected bonus schedules
- Easy comparison of all three policy-term combinations
- A reset button for starting a new calculation
Every projected maturity result is labelled “Illustrative Calculation” so that assumed bonuses are not mistaken for promised returns.
What Is LIC Jeevan Labh Plan 736?
LIC Jeevan Labh 736 is a participating, non-linked, individual savings life insurance plan with limited premium payments. “Participating” means an eligible in-force policy can share in LIC’s declared surplus through bonuses. “Non-linked” means its benefits are not directly linked to market-based fund units.
The plan provides life cover during the policy term and a maturity benefit if the life assured survives to maturity while the policy remains in force. Premiums are payable for a shorter period than the full policy term. Surrender and policy-loan facilities are available subject to the applicable conditions.
| Plan detail | Information |
|---|---|
| Plan name | LIC’s Jeevan Labh |
| Plan number | 736 |
| UIN | 512N304V03 |
| Plan type | Participating, Non-Linked, Individual Savings Life Insurance Plan |
| Policy terms | 16, 21 or 25 years |
| Premium-paying terms | 10, 15 or 16 years |
| Minimum Basic Sum Assured | ₹2,00,000 |
| Maximum Basic Sum Assured | No stated limit, subject to underwriting |
| Maximum maturity age | 75 years |
How LIC Jeevan Labh 736 Works
Jeevan Labh uses a limited-premium structure. For example, selecting the 21-year policy term fixes the premium-paying term at 15 years. Premiums are paid during those 15 years, but the life cover and policy continue for the full 21-year term, provided the policy remains valid under its conditions.
While the policy is in force, it can participate in LIC’s profits. LIC may declare a Simple Reversionary Bonus after a financial-year valuation. Once a bonus is declared and vested under the policy, it remains attached according to the applicable terms. Future bonus rates, however, are unknown and cannot be guaranteed.
At maturity, an in-force policy pays the Basic Sum Assured plus vested Simple Reversionary Bonuses and a Final Additional Bonus, if LIC declares one and the policy qualifies. If death occurs before maturity, the applicable death benefit is paid instead.
Policy Term and Premium-Paying Options
| Policy term | Premium-paying term | Premium-free period before maturity | Maximum entry age |
| 16 years | 10 years | 6 years | 59 years |
| 21 years | 15 years | 6 years | 54 years |
| 25 years | 16 years | 9 years | 50 years |
The minimum entry age is eight completed years. Age is taken as age nearer birthday except for the minimum-entry-age condition. The maximum maturity age is 75 years. Because each policy term has a fixed premium-paying term, the calculator fills this period automatically.
How the LIC Jeevan Labh 736 Maturity Calculator Works
The maturity estimate uses this formula:
Estimated Maturity Benefit = Basic Sum Assured + vested Simple Reversionary Bonus + Final Additional Bonus, if declared
Basic Sum Assured
The Basic Sum Assured is selected when the policy begins. For an in-force Plan 736 policy, the Sum Assured on Maturity equals the Basic Sum Assured. It is the guaranteed basic component, subject to the policy terms.
Simple Reversionary Bonus
LIC may declare a Simple Reversionary Bonus for participating policies. A projected calculator value commonly applies an assumed annual bonus rate to every ₹1,000 of Basic Sum Assured:
Estimated bonus = Basic Sum Assured ÷ 1,000 × assumed annual bonus rate × policy term
This formula is only a projection of future bonuses. An already vested bonus is different: after declaration, it remains attached under the applicable conditions.
Final Additional Bonus
A Final Additional Bonus, or FAB, may be payable when a death or maturity claim arises if LIC declares it and the policy satisfies the eligibility conditions. The calculator displays the assumed FAB rate separately rather than hiding it inside the final maturity amount.
The official Plan 736 policy document confirms that Final Additional Bonus is not payable under a paid-up policy.
How Premium Is Estimated
A premium estimate normally follows these steps:
- Select the premium rate applicable to the entry age and policy term.
- Apply it to the Basic Sum Assured.
- Apply the payment-mode adjustment.
- Apply any eligible high Sum Assured rebate.
- Add supported rider premiums, if selected.
- Add applicable taxes according to the policy commencement date and prevailing rules.
LIC’s current brochure shows a 2% tabular-premium rebate for yearly mode and 1% for half-yearly mode, with no mode rebate for quarterly, monthly or salary-deduction modes. It also states high Sum Assured rebates of ₹2 per ₹1,000 for Basic Sum Assured from ₹5,00,000 to below ₹10,00,000, ₹3 per ₹1,000 from ₹10,00,000 to below ₹15,00,000, and ₹3.50 per ₹1,000 from ₹15,00,000 onwards.
A sample brochure premium must not be treated as a universal rate. Actual premium depends on the complete applicable rate table and the accepted proposal.
Death Benefit Under LIC Jeevan Labh 736 Policy
For an in-force policy, the Sum Assured on Death is the higher of:
- The Basic Sum Assured; or
- Seven times the annualised premium.
Vested Simple Reversionary Bonuses and a Final Additional Bonus, if applicable, are added to this amount. The total death benefit cannot be less than 105% of total premiums paid up to the date of death.
“Annualised premium” excludes taxes, rider premiums, underwriting extra premiums and modal loadings. “Total premiums paid” refers to premiums paid under the base product, excluding extra premium and explicitly collected taxes, subject to the policy definition.
This is the rule for current Plan 736. The older ten-times-annualised-premium treatment associated with earlier versions should not be used in a Plan 736 calculator.
How to Use the LIC Jeevan Labh 736 Calculator
- Enter the age at policy commencement.
- Enter the required Basic Sum Assured, beginning from ₹2,00,000 and following the permitted amount multiples.
- Select a 16, 21 or 25-year policy term; the corresponding premium-paying term is filled automatically.
- Select yearly, half-yearly, quarterly or monthly premium mode.
- Review the bonus and FAB assumptions used for the maturity illustration.
- Select Calculate Benefits to see the estimated premium, maturity value, death cover and policy schedule.
- Select Reset to clear the entries and start again.
Pay particular attention to the assumptions shown beside the results. A higher assumed bonus rate can make the maturity figure look considerably larger without changing any guaranteed benefit. Compare term options using the same bonus assumptions to keep the comparison meaningful.
Real Calculation Example
Consider this transparent illustration:
- Entry age: 30 years
- Basic Sum Assured: ₹5,00,000
- Policy term: 21 years
- Premium-paying term: 15 years
- Payment mode: Yearly
- Assumed annual bonus rate: ₹45 per ₹1,000 of Basic Sum Assured
- Assumed FAB rate: ₹20 per ₹1,000 of Basic Sum Assured
- Illustrative annual premium before tax: ₹28,253
LIC’s brochure gives a sample yearly premium of ₹11,701 for age 30, a ₹2,00,000 Basic Sum Assured and a 21-year policy term. Scaling this sample to ₹5,00,000 gives approximately ₹29,252.50. At ₹5,00,000, the high Sum Assured rebate is ₹2 per ₹1,000, or ₹1,000. This produces the illustrative annual premium of approximately ₹28,253 before tax.
This derivation is provided for explanation and is not an LIC quotation. A final premium requires the complete applicable rate table, modal treatment, underwriting and taxes.
Estimated Simple Reversionary Bonus
₹5,00,000 ÷ 1,000 × ₹45 × 21 = ₹4,72,500
Estimated Final Additional Bonus
₹5,00,000 ÷ 1,000 × ₹20 = ₹10,000
Estimated Maturity Benefit
₹5,00,000 + ₹4,72,500 + ₹10,000 = ₹9,82,500
Illustrative Calculation: ₹9,82,500
The estimated total base premiums before tax are:
₹28,253 × 15 = ₹4,23,795
The simple difference between the illustrated maturity value and estimated premiums is:
₹9,82,500 − ₹4,23,795 = ₹5,58,705
This ₹5,58,705 figure is only a nominal difference. It is not a guaranteed profit and does not account for the timing of premiums, taxes, inflation or changes in bonus declarations.
Using annual cash flows—with premiums assumed at the start of each of the first 15 policy years and the maturity amount received at the end of year 21—the approximate annualised return is 5.95%. This return changes if the premium timing, tax, bonus assumptions or actual LIC benefits change.
The example does not promise a ₹9,82,500 maturity value. Both the future Simple Reversionary Bonus and FAB are assumed, non-guaranteed figures.
Guaranteed and Non-Guaranteed Maturity Components
| Maturity component | Nature |
| Basic Sum Assured | Guaranteed subject to policy terms |
| Bonus already vested | Attached after declaration under applicable terms |
| Future Simple Reversionary Bonus | Not guaranteed |
| Final Additional Bonus | Not guaranteed |
| Calculator’s projected maturity | Illustrative estimate |
Optional Riders
Subject to eligibility and payment of an additional premium, Plan 736 may allow:
- LIC’s Accidental Death and Disability Benefit Rider
- LIC’s Accident Benefit Rider
- LIC’s New Term Assurance Rider
- LIC’s Premium Waiver Benefit Rider
The Accidental Death and Disability Benefit Rider and Accident Benefit Rider cannot both be selected together. Rider availability, entry age, cover period, Sum Assured, premium and claim conditions are governed by the applicable rider terms. A rider estimate shown by the calculator remains separate from the base-plan premium and benefits.
Benefit Settlement in Instalments
Plan 736 allows eligible maturity or death benefits to be received in instalments over 5, 10 or 15 years instead of entirely as a lump sum. Payments may be monthly, quarterly, half-yearly or yearly, subject to the prescribed minimum instalment amount and the option being exercised according to the policy conditions.
The instalment amount is determined using LIC’s applicable calculation basis. It cannot be estimated accurately by simply dividing the lump-sum benefit by the selected number of years.
Paid-Up Value if Premiums Are Stopped
If at least one full year’s premium has been paid and a later premium is not paid, the policy can continue as paid-up after completion of the first policy year. Its benefits are reduced.
Death Paid-up Sum Assured = Sum Assured on Death × premiums-paid period ÷ original premium-paying term
Maturity Paid-up Sum Assured = Sum Assured on Maturity × premiums-paid period ÷ original premium-paying term
The relevant reduced paid-up amount is payable with vested Simple Reversionary Bonuses, if any. The paid-up policy no longer participates in future profits, although vested bonuses remain attached. FAB is not payable under a paid-up policy. The death benefit under the paid-up policy remains subject to the minimum of 105% of total premiums paid up to death.
Surrender Value and Loan Facility
The policy may be surrendered after completion of the first policy year if one full year’s premium has been paid. Guaranteed Surrender Value becomes available after at least two full years’ premiums have been paid, while Special Surrender Value may become available after completion of the first policy year when one full year’s premium has been paid.
LIC pays the higher of Guaranteed Surrender Value and Special Surrender Value. Guaranteed Surrender Value uses policy-year and term-specific factors applied to eligible premiums, plus the applicable surrender value of vested bonuses. Special Surrender Value is determined under LIC’s applicable basis and may be reviewed. An online estimate cannot replace LIC’s surrender quotation.
A policy loan may be available after completion of the first policy year when one full year’s premium has been paid:
| Policy status | Before two full years’ premiums | After two full years’ premiums |
| In-force policy | Up to 50% of surrender value | Up to 80% of surrender value |
| Paid-up policy | Up to 40% of surrender value | Up to 70% of surrender value |
Interest applies to the loan. Outstanding loan and interest may be recovered from maturity, surrender or death benefits. LIC may foreclose the policy if unpaid loan and interest are set to exceed its surrender value, subject to the policy conditions.
Premium Payment, Grace Period and Revival
Premiums may be paid yearly, half-yearly, quarterly or monthly through NACH; salary deduction is also allowed under the stated conditions. The grace period is 30 days for yearly, half-yearly and quarterly premiums, and 15 days for monthly premiums.
If the premium remains unpaid after the grace period, the policy lapses. A lapsed policy may be revived during the life assured’s lifetime, within five consecutive complete years from the first unpaid premium and before maturity. Revival requires arrears with applicable interest and satisfaction of LIC’s continued-insurability requirements. LIC may accept revival on original or modified terms or decline it.
Important Limitations of the Calculator
The calculator cannot guarantee:
- The final LIC premium or underwriting acceptance
- Future Simple Reversionary Bonus rates
- Declaration or amount of Final Additional Bonus
- LIC’s Special Surrender Value quotation
- Loan sanction, amount or applicable interest rate
- Tax treatment for every policyholder
- Rider eligibility or premium unless supported by exact data
- Acceptance or payment of a claim
Results should always be checked against LIC’s official benefit illustration, sales brochure, policy document and issued policy schedule.
Related LIC Calculators
- LIC Jeevan Labh Calculator for Plans 736, 936 and 836
- LIC Jeevan Labh Plan 836 Calculator
- LIC New Endowment Calculator
- LIC Jeevan Lakshya Plan 733 Calculator
- LIC Jeevan Anand Calculator
Frequently Asked Questions
Is the maturity amount guaranteed?
Only the Basic Sum Assured is the guaranteed basic maturity component subject to policy terms. Future bonuses and FAB are not guaranteed.
What are the term options under Plan 736?
The policy terms are 16, 21 and 25 years.
How long are premiums paid?
Premiums are paid for 10 years under the 16-year term, 15 years under the 21-year term and 16 years under the 25-year term.
What is the minimum Basic Sum Assured?
The minimum is ₹2,00,000. Permitted multiples depend on the Sum Assured range.
How is the death benefit calculated?
For an in-force policy, the Sum Assured on Death is the higher of the Basic Sum Assured or seven times annualised premium. Applicable vested bonuses and FAB are added, subject to a minimum total death benefit of 105% of total premiums paid up to death.
Does Jeevan Labh 736 provide a loan?
Yes. A loan may be available after completion of the first policy year when one full year’s premium has been paid, subject to surrender value and LIC’s conditions.
What happens if premiums are stopped?
If at least one full year’s premium has been paid, the policy may continue with reduced paid-up benefits. If less than one full year’s premium has been paid, benefits generally cease after the grace period, subject to the policy terms.
Are bonus rates guaranteed?
No. Future Simple Reversionary Bonus rates and FAB are not guaranteed.
Is Plan 736 different from Plans 936 and 836?
Yes. They are different versions. This calculator and guide apply only to current Plan 736, UIN 512N304V03.
Does the calculator provide an official LIC quotation?
No. It provides an educational estimate. LIC’s official quotation and issued policy documents control the actual premium and benefits.
Conclusion
The LIC Jeevan Labh 736 Calculator brings premium, maturity and death-benefit estimates together while clearly separating guaranteed amounts from assumed bonuses. It is most useful for comparing the three fixed term combinations using consistent inputs. Final decisions should be based on LIC’s official benefit illustration and the terms offered after underwriting.
Disclaimer
This article and calculator are for general education only. They are not financial, tax or insurance advice and do not constitute an offer, recommendation or official LIC quotation. Premiums, bonuses, surrender values, loan terms, taxes and claim benefits depend on prevailing rules, underwriting and the issued policy. LIC’s official policy document and policy schedule take precedence over every estimate shown here.
Amit Kushwaha is a financial content creator and SaaS tool developer based in Lucknow, Uttar Pradesh. He has more than seven years of experience creating insurance-related content, online calculators, and practical digital tools for LIC policyholders, insurance buyers, and LIC agents.
Through LICPolicyCalculator.com, he focuses on simplifying complex LIC policy information into easy-to-understand guides and calculators. His work covers LIC premium estimates, maturity calculations, surrender value tools, policy return calculations, term insurance planning, and plan-specific calculator pages.
The content and tools published on this website are prepared using LIC official brochures, policy documents, benefit illustrations, and publicly available plan information. The objective is to help users better understand policy features, premium commitments, maturity benefits, surrender rules, and other important insurance calculations before making decisions.
LICPolicyCalculator.com is an independent educational platform and is not affiliated with Life Insurance Corporation of India.