f you are looking a calculator to calculate the maturity amount of the different LIC Policies. Then, you are on right place. Because, In this article, we have mentioned about the how to use the LIC maturity calculator to calculate the maturity amount. By using below-mentioned formula, you can also calculate your LIC maturity value of any LIC Policies.
In this LIC maturity Calculator, You need some parameters to calculate the maturity amount of any LIC policy like Bonus rates(previous year Bonus Rates), LIC Premium, Final Additional Bonus(FAB), and Sum Assured(SA). This LIC Maturity calculator wouldn’t provide an exact amount of maturity, but you will get the approximate and nearby maturity amount.
LIC Maturity Calculator – How to Calculate LIC Maturity
This LIC Maturity amount Calculator provides a maturity amount based on Your LIC Policy, Term of Policy, Policy Holder Age, Sum Assured, Bonus rates, etc. You may also need to provide some of your details in LIC Maturity Amount Calculator such as Your First Name, Last Name, your Email ID and your Mobile number to get your LIC Maturity amount without any delay.
By using the LIC Maturity Calculator, You can also check the different types of LIC Policies like Endowment plans, Children Plans, Term Insurance plans and Money back Plan, Lifetime LIC Plan, and much more.
How to calculate Money Back LIC Policies
By using this below-mentioned calculation formula, you can calculate the maturity amount of your Money Back LIC Policies. So let’s take a look.
Calculation formula for LIC Money Back Policies:
LIC Maturity amount = Final Additional Bonus + Simple Bonus + Sum assured – Survival Benefits
How to calculate the Normal LIC Policies
Calculating the maturity value of the Normal LIC Policies is very simple and easy. So anyone can calculate the Maturity amount of the normal LIC Policies without any problem. So follow mentioned below formula to calculate the maturity amount of the Normal LIC Policies.
Calculation formula for Normal LIC Policies:
LIC Maturity value = Sum Assured + FAB + Simple Bonus
The maturity amount of the LIC policies is the sum of the Finale additional bonus, Sum Assured, and Simple bonus. So you can use this formula to calculate the Normal LIC policies.
- In the LIC Policy, the FAB is a Final Additional Bonus that increases when you LIC Policy period increase. It will be paid if your LIC Policy term is 15 years or more. So we can say, it is a one-time bonus that paid at the maturity time.
- In the LIC Policy, The Simple Bonus is the interest amount that paid by the LIC company in our policies based premium amount. In simple word, you can also say, the Simple Bonus amount is the interest amount of your LIC premium.
- The Sum assured, is an amount of insurance policy that guarantees to pay you before adding any bonuses. In simple words you can also say, The Sum Assured is a money amount that the policyholder will receive.
The Life insurance corporation also provides a calculator that you can use to calculate the maturity amount of any policy like LIC Jeevan Saral, LIC Money back, The LIC Endowment, LIC new endowment, LIC Jeevan Shree and LIC Jeevan Rakshak, etc.
Here in this article, we have written about how you can easily calculate your LIC maturity amount. Do share your views and feedback about this post.