LIC Calculator

Read on to know more about LIC Calculator and how does it work in detail.

What Is the LIC Calculator?

The LIC Calculator is a simple digital calculation tool. It helps users estimate these key financial details for LIC of India plans:

• Premium amount

• Maturity value

• Surrender value

• Year-wise projections

The LIC plans calculators work for different policies. They help new and current policyholders, plan for the future and compare choices. Some examples are the SIP calculator, which shows returns on monthly investments, and the premium calculator, which finds the cost of premiums. The Policybazaar LIC calculator is a free-of-cost calculation tool that you can use to accurately estimate your premium amounts and the projected maturity value of your LIC policy.

LIC offers different types of calculators like:

• Maturity Calculator

• Surrender value calculator

• LIC FD Calculator

• LIC SIP Calculator

• Home Loan Calculator

• Home Loan EMI Calculator

Using these calculators, you can make an informed decision about your investments.

How Does the LIC Calculator Help?

New customers: It shows a clear estimate of premiums for different LIC plans. This makes it easier to pick the right plan.

Policyholders: If you already have an LIC policy, you can check premium due dates, approximate maturity amounts, bonus details, etc. 

For plan comparison: It allows the users to compare LIC policies. The comparison is based on policy benefits, premium amounts and many more parameters.

What are the Key Features of the LIC Calculator?

The following are the features of LIC plans calculator:

• Fast Estimates: The LIC calculator delivers results almost instantly, letting you review premiums and benefits without any waiting. It’s handy when you want to compare different plans, and it can work out annual, half-yearly, quarterly, or monthly premiums in no time.

• Reliable Projections: The LIC plans calculator considers your age, policy type, and the sum assured and then generates results. Thus, you can rely on those projected results as they use the plan details, specifically, of your policy.

• Latest Policy Details: The calculator utilises the most recent LIC plan details, ensuring you always receive current and accurate information. You can verify these plan details from the official policy brochure.

• Clear Classification: The LIC calculator also shows a detailed classification of maturity amounts, bonuses, life cover, and other components.

• Plan comparison: Using the LIC plans calculator, you can simultaneously compare an LIC policy with another policy and see which one to choose.

• User-friendly: The LIC policy calculator interface is simple, clean, and easy to access. Even first-time users can use the tool without assistance. Using the LIC Calculator Single Premium can be calculated as easily as the premium amount for a regular pay premium mode.

These features make the tool effective, reliable, and convenient for policy planning.

Types of LIC Calculator 2026

You can find your LIC calculator based on your needs. In 2026, these are the top LIC calculators:

• LIC Premium Calculator: The LIC Premium Calculator accurately calculates the exact premium you will need to pay for your policy by just inputting a few basic details, your age, coverage amount, policy duration, and premium frequency.

• LIC Maturity Calculator: The LIC Maturity Calculator calculates what your policy's value will be when it matures. Whether you are a new customer or already have your policy, you can use it to know how much the plan will return in the future.

• LIC Loan Calculator: The LIC Loan calculator is used to calculate the amount of loan you can avail against your policy, once it becomes eligible. The amount is shown in a detailed illustration classified year-wise. Apart from this, the LIC loan calculator also means the LIC HFL EMI Calculator. This home loan calculator can be used to know how much EMI has to be paid for how long to repay the loan amount taken from LIC HFL.

• LIC Pension/Annuity Calculator: You can check how much pension/ annuity you will receive from your LIC Pension plans. It requires the purchase price of the pension plan, plan options and other basic details to compute how much monthly/quarterly/half-yearly/yearly payouts you will receive.

• LIC Surrender Value Calculator: Find out how much amount you will receive if you surrender your policy before it matures. This calculator shows you the result of terminating your policy early as the amount you will receive.

• LIC SIP Calculator: The LIC SIP Calculator can be used to calculate the amount that needs to be invested through SIPs. This is the amount that can be used to build a corpus for future events, such as retirement, children’s education, marriage, or buying a house. The results of this calculator are approximations, which are close to the actual returns, as market dynamics ultimately determine the outcome of the investments made.

• LIC Plan-specific tools: LIC Calculators are also available under plan-specific names. LIC also offers calculators for specific plans. If you want to use a calculator for a particular policy, like LIC Jeevan Labh, LIC New Jeevan Anand, LIC Jeevan Bima, or LIC Jeevan Utsav Calculator you can search directly by the plan name or number to access it.

How Does the LIC Calculator Work?

The LIC plans calculator works on the details that you provide. Here is a simple explanation:

Step 1: Input Basic Policy Details

Provide basic details which include name, DOB, gender, contact, policy term, sum assured, and frequency of premium

Step 2: Get Results Instantly

The LIC calculator generates its results instantly. It shows the premium amounts for the policy in monthly, quarterly, half-yearly, and yearly modes. Then based on the mode you choose, you can generate a detailed illustration. That illustration will show your estimated maturity amount, bonuses, surrender value, total coverage, and other policy benefits.

Step 3: Download the Results

After checking all the details, you can download the illustration for future use. The calculator lets you download it as a PDF or share it.

Steps-wise Procedure of Using the LIC Calculator

The LIC calculator for premium calculation and maturity calculation works in the following manners:

1. LIC Premium Calculator Tool: From LIC Website

   Step 1: Visit the official LIC website. Go to the “How much you need?” section.

   Step 2: The section will have two options; “Coverage Calculator” and “Premium Calculator.” Click on “Calculate Premium”.

   Step 3: Fill in the required details and click Next. Then choose Quick Quote to see your estimated premium.

   Step 4: Select your LIC policy, select it and hit 'Coverage'.

   Step 5: Enter details such as sum assured, premium payment mode, policy term, policy Payment term. Hit 'Quote'.

   The LIC Calculator 2026 will illustrate your total premium in monthly, quarterly, half-yearly, and yearly modes, including tax, and provide its bifurcation.

2. LIC Maturity Calculator: From LIC Website

   Step 1: Go to the official LIC website. Scroll down and find, 'How much you need?'

   Step 2: Under the header, you will find 'Coverage Calculator and 'Premium Calculator'. Click on Calculate Coverage.

   Step 3: Provide all the information asked in the form and hit ‘Next’. You will get options to get a Quick Needs Analysis and Comprehensive needs analysis. Choose the preferred option. 

   Step 4: You will be asked to add another member. Click on the ‘+’ icon and add the details. 

   Step 5: You can choose the goals for yourself or your added member. Select the goal type. Click on ‘Calculate’.

   The LIC return calculator will show you various plans available as per the details you provided and your desired returns and goals from the policy.

3. How To Use Policybazaar LIC Calculator?

   You can also use the LIC calculator for various plans from Policybazaar. However, only the following calculators based on the plans offered can be used:

   • LIC Index Plus Calculator

   • LIC Jeevan Utsav Calculator

   • LIC Jeevan Umang Calculator

   • LIC Nivesh Plus Calculator

   • LIC Jeevan Shanti Calculator

   All these calculators work similarly to the standard LIC calculator, for all the purposes such as premium, maturity benefit, surrender value calculation etc. Here are the steps to use LIC calculator from Policybazaar:

   Step 1: Search LIC Calculator Policybazaar.

   Step 2: Choose from 'Monthy' or 'Yearly' investment.

   Step 3: Fill in the required details such as investment amount, investment period and expected returns in the Policybazaar LIC calculator. Fill in your name and contact and click on 'View Plans'

   Step 4: Choose the plan you want to invest in and click on 'View Details'. Here you can select your age, gender, smoking category, etc. The calculator will display your invested amount and the returns you can expect.

   Step 5: Download payout illustration to check year-wise premium amounts, payout value, surrender values and loan against policy amount.

   With our reliable LIC calculator, you can calculate installments, surrender value, and the maturity amount of an LIC policy within seconds.

What Details Are Required While Using An LIC Calculator?

The following are some commonly required details needed while using an LIC plan calculator:

For LIC Premium Calculator: 

• Age

• Gender

• Sum Assured

• Policy term

• Smoking Status

• Plan type (if required)

For LIC Maturity Calculator:

• Sum Assured

• Policy Term

• Annual Premium

• Expected Bonus Rate & Final Additional Bonus (if required)

For LIC SIP Calculator:

• Monthly Investment amount

• Expected Rate of Return (p.a)

• Time period

Sample Premium Calculation using LIC Premium Calculator

Here is an example of a life insurance premium calculation using the LIC premium and maturity calculator.

For this illustration, we have selected the LIC Jeevan Labh plan. Let's understand how the LIC calculator Jeevan Labh computes the premium and payout amount using the following policy details:

*The Accident Benefit rider offers an additional cover in case of accidental deaths on the top of the base life insurance plan. The insurer charges an extra premium amount for such riders. The LIC premium calculator also offers visibility on the extra premium charged for riders.

Note: The premiums mentioned here are calculated based on standard industry rates and are only for reference purposes. The actual premium may vary depending upon medical examination, underwriting, and current LIC rates. For exact quotations, please get in touch with an LIC agent.

Here is the premium payable under the plan as calculated by the LIC calculator:

The premium payable under the plan is:

Sample Returns Calculation Using LIC Maturity Calculator

Let us take another example for the LIC return calculator. For this illustration, we have selected the LIC Smart Pension plan.

The LIC Smart pension plan calculator, the Annuity (pension) amount under the plan will be:

Note: Along with the traditional LIC plans, you can calculate premium amounts for LIC term insurance policies also using the LIC term insurance calculator.

LIC Policy Calculators Available Online

Policyholders can use the LIC calculator online for any policy, as it is tailored to specific policies. Here is a list of available LIC Policy calculators:

LIC Index Plus Calculator

LIC Nivesh Plus Calculator

LIC Jeevan Umang Calculator

LIC Jeevan Utsav Calculator

LIC New Jeevan Shanti Calculator

LIC Jeevan Umang 945 Premium and Maturity Calculator

LIC Jeevan Labh 936 Premium and Maturity Calculator

LIC Jeevan Tarun Premium Calculator

LIC New Children’s Money Back Premium Calculator

LIC New Money Back 20 Years Premium Calculator

LIC New Jeevan Anand Premium Calculator

LIC New Endowment Premium Calculator

LIC New Jeevan Shanti Pension Plan Premium Calculator

Sometimes, you will find an LIC life insurance calculator named as per their features. Some of them are LIC 15 years plan calculator, LIC 1 lakh policy 15 years maturity calculator, LIC 10 year plan calculator, LIC money back policy 20 years maturity calculator, and LIC 10 lakh policy premium calculator online. In such cases, you should ensure you use the right calculator as per your official plan name.

Who Can Use the LIC Calculator?

The LIC Calculator is designed for anyone who wants to understand an LIC policy better:

• New customers who want to purchase LIC plans

• Existing policyholders who want to review their policy benefits

• Senior citizens for estimating annuity payments while retirement planning.

• Parents planning for their child’s future

• LIC Agents who need to explain the policy to customers

What are the Benefits of the LIC Policy Calculator?

The LIC Calculator helps you understand your policy better. It shows the maturity amount, bonus details, death benefits, and how your premiums will be spread out. This makes it easier to choose a policy that actually fits your needs.

1. Informed Decision Making

   The LIC plans calculator gives you a clear picture of what you might receive at maturity, along with the bonus amounts and life cover. You will be able to see how much you will receive in returns before purchasing the policy.

2. Clear Policy Breakdown and Accurate Premium Estimates

   With the LIC Premium Calculator, you can check your premium in seconds. Just enter your age, the sum assured, and the policy term. New buyers as well as policyholders can use this calculation tool. At the same time, the LIC Maturity Calculator provides a clear view of expected payouts, including projected maturity benefits and death coverage. 

3. Plan Comparison

   Using the LIC calculator, you can compare multiple LIC policies simultaneously before so that you know which LIC policy gives the best returns, the highest cover at the least premiums. 

4. Saves Time

   You can compare different LIC plans right from home, without visiting a branch or speaking to multiple agents.

Can LIC Calculator Be Used For LIC Mutual Funds SIP Returns Calculation?

LIC SIP calculation can be done on the LIC SIP Calculator. The LIC calculator that is available on the LIC website only works for traditional LIC policies. In the standard LIC calculator, you can check premiums, maturity amounts, surrender values, and expected returns. It cannot be used for SIPs or mutual fund investments. For LIC mutual funds, LIC SIP Calculator is the right choice. It tells you how much you should invest every month according to various goals. These goals can be buying a house, planning your child’s education, saving for retirement, or any other milestone.

1. What is the LIC SIP Calculator?- Check LIC Mutual Fund Returns 

   The LIC SIP Calculator is an online calculation tool that estimates your SIP amounts. The calculator is easily available online and you can use it calculate how your monthly investments could grow a period of time. Since, SIP investments are highly influenced by market performance the calculator shows the approximate returns.

2. How Does LIC SIP Mutual Fund Calculator Work?

   Using the LIC SIP calculator is very simple. Just enter the amount you wish for your monthly SIP investment, next enter the investment amount, the number of years you want to invest, and the expected rate of return. The calculator then predicts the future value of your investment. You can use it to understand how your savings could increase.

3. How LIC SIP Returns Are Calculated?

   The LIC SIP calculator uses a compound interest formula to project the growth of your investment:

   Here is a formula used to calculate the SIP returns:

   Formula:

   A = P × (1+r/100)^n

   Where:

   P = Principal amount invested through SIP

   r = Expected annual rate of return

   n = Number of SIP instalments

   Let’s understand this formula with the help of an example:
   P= Rs. 2,000
   r = 10%
   n= 3 years
   A = 2,000 X (1+10/100)^3
   Total value = Rs. 2662

4. What is the Benefit of Using the LIC SIP Calculator?

   The LIC SIP calculator eliminates the confusion out of calculating your investments by hand. You don’t have to worry about mistakes. It shows a clear picture of how your money could grow over time. You can check the potential returns of your SIP. This way, it is much easier for you to compare different LIC SIP plans. You can simply pick the one that aligns with your financial objectives the most. It lets you think ahead and be more organized.

How to Use the LIC Mutual Fund SIP Calculator?

You can use this calculator by following the below steps:
Step 1: Go to the LIC Fund SIP Calculator
Step 2: Enter the details like the SIP amount you would like to invest, the investment tenure, and the assumed ROI (Rate of Interest).
Step 3: You can immediately check the final value of the investment on the screen.  

How can you get Affordable LIC Premiums? 

If you want to try out cheap LIC premiums, here are several ways that will definitely help you.

• Get insured early in life: You are at a low risk when you are young. Insurers consider you their best customers because of longer policy tenures. So, it is possible for you to get life insurance with lower premiums.  

• Select the coverage after thorough calculations: If you just buy an LIC policy without calculating and reviewing its total cost, you could end up paying extra.

• Maintain A Healthy Lifestyle: If you are more prone to any disease, whether critical illnesses or lifestyle diseases, your premiums will automatically increase.

• Buy a policy add-on only if needed: There are many policy add-ons, called riders, that provide enhanced protection. Only buy the riders that will be of use and not have long waiting or lock-in periods.

Summing It Up

The LIC calculator is a helpful tool for anyone buying a new LIC policy or reviewing their existing policy. It makes things clearer, saves time, and gives accurate financial details of the policy. It removes any uncertainties and makes it easier to pick the right plan or understand your own policy.

LIC Resources

FAQs