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LIC Jeevan Labh Plan is a Non-Linked Limited Premium Paying Endowment Assurance Plan. This plan offers a mix of security and sparing highlights. LIC New Jeevan Labh Plan gives Optional Benefit, Accidental Death and Disability Benefit Rider by installment of extra premium. LIC New Jeevan Labh Plan essential element is a restricted premium installment alternative. For the 16-year arrangement term, the client needs to pay a premium for a long time. For 21 and 25 years of the approach term, the policyholder needs to pay the premium for 15 and 16 years separately.