How To Check The Maturity Amount Of LIC Policies?

The LIC maturity value is the amount payable to the policyholder upon the completion of the policy term. LIC provides an easy way to check the maturity value through its online calculator on the official website. LIC's customer portal and mobile app also offer convenient access to check the maturity value.

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What is the Maturity Amount of LIC Policies?

The Maturity Amount of an LIC policy is the final sum received upon the policy's maturity or as a death benefit if the policyholder passes away during the term. In participating plans, the Maturity Value includes the Sum Assured, Bonuses accrued during the policy term, and any declared Final Addition Bonus. If the insured dies during the term, the Death Benefit includes the Sum Assured, Final Addition Bonus, and Vested Bonus until the death date. The Sum Assured as Death Benefit is determined based on specified criteria. 

How is the LIC Maturity Amount Calculated?

The exact Maturity Value cannot be calculated, but one can calculate a close estimate of the value to get an idea of the benefit at the end of the term. 

The basic format is Sum Assured + Bonuses + Final Additional Bonus (if declared). 

Below is the demonstration of calculating the maturity value by using the LIC online Maturity Calculator:

Mr Z buys a policy of a Sum Assured 15 Lakh with a term of 20 years. Let’s say that the company includes Bonuses and a Final Additional Bonus in the maturity value as per the company policy. The Bonus declared annually is Rs. 42/1000 sum assured. The Final Additional Bonus for a similar policy and term is 22/1000 Sum Assured.

First, calculate the Bonus and Final Addition Bonus.

  • Bonus: (15,00,000/1000) x 42 x 20 = 12.6 Lakh

  • Final Addition Bonus: (15,00,000/1000) x 22 = Rs. 33,000

Maturity Value: 15,00,000+12,60,000+33,00= 27,93,000 Lakh

(* the rates and values used are, for example, the same rate is not applicable. It can be higher or lower every year). 

Thus, if the policyholder is alive, they will receive 28 lakhs (approx.) at the maturity of the term. Also, if they die during the policy term, the nominee will receive the 15 lakhs Sum Assured as a Death Benefit. 

**Every policy has its own terms and features based on the Sum Assured, Term, Age, and the online payment of LIC premiums. Thus, the Bonuses and Final Addition Bonus may differ based on the policy. 

What is the LIC Online Maturity Calculator?

The LIC maturity calculator is an online tool provided by the LIC of India to help policyholders estimate the maturity value of their insurance policies. Policyholders can put key details such as the policy number, sum assured, policy term, and other relevant information into the calculator. The calculator then uses the provided data to calculate an approximate maturity amount, taking into account bonuses, additions, and other factors associated with the specific insurance plan..

How to Check Maturity Amount through SMS?

Checking maturity amounts and various other updates regarding a plan through SMS can be an appropriate option. It reduces the hassle of remembering the password every time an individual has to log into his account. To check the updates through SMS, one can type "ASKLIC" followed by the policy number and SMS it to the phone number 56767877 made available by the Corporation.

You can also get updates regarding the LIC Pension Plan by following the below procedure:

Status of the existing plan “ASKLIC<Policy Number>STAT”
Annuity Amount "ASKLIC<Policy Number>AMOUNT."
Release date of the Last Annuity “ASKLIC<Policy Number>ANNPD”
Cheque return information “ASKLIC<Policy Number>CHQRET”
Existence certificate due “ASKLIC<Policy Number>ECDUE”

All of the queries mentioned above can be resolved by sending the SMS code to the same number, that is, 56767877.

How to Check LIC Maturity Amount through Customer Care?

Suppose a user is not comfortable using SMS or the E-Service facilities. In that case, he can avail of the same features and get regular LIC policy updates through the LIC customer care number operated by a team of dedicated LIC employees. BSNL or MTNL users can simply call 1251 from their mobile numbers. 

Customers who are subscribed to other services can contact the Integrated Voice Response System (IVRS) from their local cities and then follow up with 1251.

The Integrated Voice Response System provides assistance to customers 24/7 and can provide users with clear-cut and precise policy information, thus clearing all doubts of the clients.

To simplify the process and solve customers' queries, LIC has divided India into eight zones: North, North Central, East, East Central, West, West Central, South, and South Central Zones. All eight zones have different customer care numbers and branch offices for customers to call or visit physically to get their queries regarding the plans resolved.

Importance of Knowing Your Maturity Amount

Understanding the maturity amount of your LIC policy offers several benefits:

  • Financial Planning: Helps plan future expenses or investments based on the expected maturity amount.

  • Transparency: Provides clarity on the returns from your investment in LIC policies.

  • Policy Comparison: Enables comparing other investment options or insurance policies for better financial decision-making.

  • Tax Planning: Maturity proceeds from LIC policies are generally tax-free under certain conditions, making it beneficial for tax planning.

How to Check LIC Policy Surrender Value Online?

Surrender Value is the amount that is paid to the policyholder by the company if he wishes to discontinue the policy. However, it can be paid only if the life insured has paid all the premiums, whether monthly, quarterly, half-yearly, or yearly for three years. In order to check the LIC Surrender Value, one can visit the official website of LIC and fill in the required details. 

Wrapping It Up:

Knowing terms like Maturity Value is important for policyholders to make informed decisions about their insurance plans. Understanding how the maturity amount is calculated and utilizing tools like the LIC calculator empowers individuals to assess the suitability of their policies. Before purchasing any LIC plan, it is advisable to know these terms to ensure a clear understanding of policy features and terms. 


  • Q: When can I check the maturity amount of my LIC policy?

    Ans: You can check the maturity amount of your LIC policy at any time during the policy term. You should review your policy details periodically to stay updated on the projected maturity benefits.
  • Q: What factors determine the maturity amount of an LIC policy?

    Ans: The maturity amount of an LIC policy is influenced by factors such as the policy type (endowment, money-back, etc.), premium amount paid, policy term, bonuses accrued over time, and any additional benefits specified in the policy terms and conditions.
  • Q: Are maturity returns from LIC policies taxable?

    Ans: In most cases, maturity returns from LIC policies are tax-free under Section 10(10D) of the Income Tax Act, provided certain conditions are met.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-
++Returns are 10 years returns of Nifty 100 Index benchmark

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