LIC Jeevan Anand Returns Calculator

This calculator eases your manual work of thought and process by laying out a clear view showcasing the growth of your investment with time by considering factors like age, policy term, premium amount and sum assured.

What is the LIC Jeevan Anand Returns Calculator?

LIC Jeevan Anand Calculator is a web tool that provides people with estimated details of total cost and possible returns by considering various factors under LIC Jeevan Anand.

Factors Considered By the LIC Jeevan Anand Policy Calculator:

• Age at the time of entry

• Gender

• Basic sum assured

• Policy term

• Frequency of premium payment

• Annual premium amount

It clearly presents estimates of premium details in all modes and maturity details and even allows you to choose a dummy plan. The return benefits of your life insurance policy are calculated as per both cases- either death of policyholder or at the time of maturity.

However, the LIC of India has withdrawn the old LIC Jeevan Anand 815 plan and relaunched its new version as LIC New Jeevan Anand 715. Policyholders of the old or new LIC Jeevan Anand based in other countries can use this calculator to estimate their plan's benefits, irrespective of the plan version.

5 Benefits of using LIC Jeevan Anand Returns Calculator:

• Probable buyers can estimate premium cost and policy returns free of cost before purchase in seconds.

• Estimation of bonuses earned during the policy can be compared with other available options beforehand.

• Evaluation of premiums can provide an objective viewpoint for the buyers own budget and financial planning.

• It is super easy, convenient and very quick to use for people of all ages.

LIC Jeevan Anand Policy Benefits Paid as Returns

• Death Benefit: On the demise of the policy holder within the term period, the payout is equal to the “Sum Assured on Death” which is 125% of Basic Sum Assured or 7 times of annualised premium. But it cannot be less than 105% of total premiums paid up to the date of death. Plus Simple Reversionary Bonuses and Final Additional bonus if any. Death payout for an endowment payment is payable similar to how it is paid for a term insurance policy.

• Maturity Benefit: If the policy owner survives the policy term and if all due premiums have been paid, then the policyholder receives Sum Assured on Maturity(Basic Sum Assured) + Simple Reversionary Bonuses + Final Additional Bonus is payable. It can either be availed as a lump sum or in installments.

  • Demise of the policy owner after the Date of Maturity, only Basic Sum Assured shall be payable.

• Bonus Amount: Simple Reversionary Bonus and Final additional bonus shall be added to your payout. But it depends on the company’s profit procurement in a financial year, hence it varies. Also if the policyowner fails to pay any premiums, these bonuses are halted for his/her policy.

How to Use the LIC Jeevan Anand Returns Calculator?

LIC Jeevan Anand Returns Calculator is available on LIC’s official website and can be accessed worldwide. It requires basic details like age, term period, sum assured,AD & DB Rider and Term Rider as per the LIC Jeevan Anand Policy to calculate the returns.

The steps to calculate returns using LIC Jeevan Anand Return Calculator are as follows:

Step1: Open the calculator on the LIC’s official website. Find the tab for LIC Jeevan Anand policy. Click the link to launch the calculator.

Step 2: When you arrive on the Returns Calculator screen, enter the below mentioned details for Jeevan Anand policy:

• Policy holder’s age

• Policy Term: The time duration that you’re seeking the policy for.

• Sum Assured: The amount of insurance cover that you will be eligible for. When people move places, along with them moves responsibility and hope. So choose a sum that covers all of it.

• Premium Payment Term/Frequency: The duration over which you will make the premium payments like yearly, half-yearly, quarterly or monthly.

• Premium Amount: The amount that you will pay as a premium over the term that you have selected.

Step 3: Click on “Calculate Premium”. And the results will be displayed on your screen.The calculator provides estimates of the maturity payout, death benefit, and other bonuses.

Step 4: Analyze the results and choose the best for yourself.

*Note*: Be very careful with your inputs because these details will entirely affect your digits of premium and coverage.

With the LIC New Jeevan Anand Premium Calculator, you have the facility to compute the premiums of your LIC New Jeevan Anand policy from the comfort of your home.

How Does LIC Jeevan Anand Return Calculator Work?

LIC Jeevan Anand Return Calculator works similar to other LIC Calculators where you enter the relevant information about your policy and based on these entries the calculations are made.

In order to understand and utilize LIC Jeevan Anand Policy Calculator’s full potential, we need to take an example:

Assuming that you buy a policy of LIC Jeevan Anand with a sum assured of 10 lakhs and a policy term of 20 years. An estimated bonus rate of ₹45 per 1,000 sum assured has led to your annual premium being around ₹57,031.

Estimated Annual Bonus: 45 (10, 00, 000 1, 000) = 45, 000

Total Bonus for 20 Years: 45, 000 20 = 9, 00, 000

The estimated maturity amount may have been: 10, 00, 000 (Sum Assured) + 9, 00, 000 (Bonus) = 19, 00, 000

Note: It is a calculation based on the estimated bonus rates. The actual maturity value may vary depending on the bonuses LIC declares at that time.

Sample LIC Jeevan Anand Return Calculation

The following is an example of how the LIC Jeevan Anand calculator uses different factors to display results.

Entry Age - 26 years

Policy Term - 20 years

Premium payment term - 20 years

Basic Sum Assured - Rs. 10 Lakhs

Annual Premium - Using the LIC Jeevan Anand Policy 20 years Premium and Maturity calculator, the annual premium comes out to be Rs.59,468 payable for 20 years.

Simple Reversionary Bonus - Assuming the Simple Reversionary Bonus to be Rs.45 per 1000 Sum Assured every year, the total bonus amount in a year will be equal to 45 x (10,00,000/1,000) = Rs.45,000. In 20 years, it will be equal to Rs.9,00,000.

Final Addition Bonus - Assuming the Final Addition Bonus to be Rs.20 per 1000 Sum Assured, the total bonus amount will be equal to 20 x (10,00,000/1,000) = Rs.20,000.

Note: Look for other investment options like Systematic Investment Plans (SIPs) for steady growth. SIP Calculator allows you to calculate your potential returns and be confident while making a decision.

Summing It Up

LIC Jeevan Anand calculator is an easy to use tool for the policy buyers to calculate their estimated premium, maturity benefit, death payout and bonuses. It helps the user to be completely informed beforehand from anywhere in the world. You have several options to find the best coverage that fits your needs.

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