LIC has recently introduced a number of endowment insurance policies, among which, one of the best that is available is the LIC Jeevan Labh Plan. It is mainly a combination of both investments as well as insurance. The policy is for a fixed tenure, and the policy buyer can have a fixed time of about 16 years or 21 years or even 25 years. The premium payment time period of the policy is around 6 years lesser than the actual tenure of the plan taken by the buyer. Along with the benefits of the endowment, the LIC Jeevan Labh Plan also offers a number of other benefits to the buyer such as that of term insurance, disability benefit, and accidental death benefit.