LIC Maturity Benefit Calculator Overview

The Life Insurance Corporation of India (LIC) is India's largest and most trusted life insurer. Established in 1956, LIC offers a wide range of insurance and investment products to cater to the diverse needs of policyholders. This calculator simplifies LIC's maturity benefit calculations, ensuring transparency and helping you make informed financial decisions.

About LIC

LIC provides insurance solutions for every life stage—be it securing your child's education, planning your retirement, or protecting your family's future. Known for its customer-centric approach, LIC ensures guaranteed returns and unparalleled trustworthiness.

Key Services Offered by LIC

• Term Insurance Plans
• Endowment Plans
• Money Back Plans
• Unit Linked Insurance Plans (ULIPs)
• Whole Life Insurance Plans
• Pension and Annuity Plans

Popular LIC Policies for Maturity Benefit Calculations

• LIC New Endowment Plan: A savings and protection plan with guaranteed returns and bonuses.
• LIC Jeevan Anand: Combines endowment benefits with extended life cover protection.
• LIC Money Back Policy: Offers periodic payouts and maturity benefits for liquidity and savings.
• LIC Jeevan Labh: High-return savings plan with limited premium payment options.


• LIC Tech Term Plan: Affordable term insurance for comprehensive financial security.


• LIC Jeevan Umang: A whole life policy with annual survival and maturity benefits.


• LIC Children's Money Back Plan: Tailored savings plan to secure your child's future.


• LIC Single Premium Endowment Plan: One-time payment policy offering savings and life cover benefits.

Key Features of This Calculator

• Simplified Inputs: Easily enter Sum Assured, Policy Term, and Bonus Rate for instant calculations.
• Detailed Year-Wise Breakdown: Review yearly premium payments and bonus accruals in detail.
• Final Maturity Projections: Comprehensive projections of premiums paid, bonuses, and total maturity amount.

How the Maturity Benefit is Calculated

Example Scenario:

• Sum Assured: ₹10,00,000
• Policy Term: 20 Years
• Bonus Rate: ₹50 per ₹1,000 Sum Assured

Calculation:

• Total Premium Paid: ₹10,00,000
• Bonus Accrued Annually: ₹50,000 (₹10,00,000 ÷ 1,000 × ₹50)
• Total Bonus: ₹50,000 × 20 = ₹10,00,000
• Total Maturity Benefit: ₹10,00,000 + ₹10,00,000 = ₹20,00,000

Benefits of Using This Calculator

• Helps you plan your financial future effectively.
• Estimates investment returns with precision.
• Enables informed decision-making by providing transparency.

Note:
Ensure accurate inputs for reliable calculations. The bonus rate and policy term may vary across policies. Always refer to official LIC documentation for specific policy terms.