When looking for a high-return, secure savings plan from the Life Insurance Corporation of India (LIC), the two most popular contenders are LIC Jeevan Labh (Table 936 / 736) and LIC Jeevan Umang (Table 945 / 745). While both offer limited premium payment terms and sovereign security, their financial objectives are fundamentally different.
⚡ Key Takeaways at a Glance
- • Choose Jeevan Labh (936) if you want the highest lump-sum maturity corpus at a specific life milestone (e.g. child education, wedding, or mid-career wealth creation in 16, 21, or 25 years).
- • Choose Jeevan Umang (945) if you want a guaranteed 8% annual pension for life after paying premiums, with whole life financial risk protection up to Age 100.
📊 Feature Comparison: Plan 936 vs Plan 945
| Feature / Metric | LIC Jeevan Labh (936) | LIC Jeevan Umang (945) |
|---|---|---|
| Category | Endowment Savings Plan | Whole Life Assurance Plan |
| Policy Term | 16, 21, or 25 Years | 100 minus Entry Age (Lifelong) |
| Premium Paying Term (PPT) | 10, 15, or 16 Years | 15, 20, 25, or 30 Years |
| Survival Payouts | No regular survival income (100% lump sum at end) | Guaranteed 8% of Sum Assured every year for life |
| Bonus Accumulation | High Bonus Rates (~₹47/₹1k SA on 25y) | Simple Reversionary Bonus + FAB at Age 100 |
| Tax Exemption | Sec 80C & Sec 10(10D) 100% Tax-Free | Sec 80C & Sec 10(10D) 100% Tax-Free |
💡 Real Scenario: Age 30 with ₹10 Lakh Sum Assured
Jeevan Labh (25/16 Yrs)
- • Yearly Premium: ₹46,236 (for 16 years)
- • Total Paid: ₹7,39,776
- • Maturity at Age 55: ₹26,25,000 (Lump sum)
- • Net Gain: +₹18,85,224 (~3.5× returns)
Jeevan Umang (20 Yr PPT)
- • Yearly Premium: ₹54,886 (for 20 years)
- • Total Paid: ₹10,97,720
- • Guaranteed Pension: ₹80,000 / year from Age 50 to 100
- • Cumulative Payouts: ₹40,00,000 + ₹81.90L maturity at 100
Conclusion: Which One Should You Buy?
If your primary focus is accumulating a defined capital sum for education, property purchase, or marriage in 16–25 years with the highest bonus rates, LIC Jeevan Labh is the undisputed champion.
On the other hand, if your priority is creating a lifelong guaranteed source of secondary income or retirement pension starting at age 45 or 50, LIC Jeevan Umang is unmatched because its 8% annual returns are fixed and tax-free for the next 50+ years.