How to Check and Calculate LIC Maturity Amount

LIC of India offers online services through the LIC customer portal and MYLIC app. Other offline services can also be provided through LIC offices. In fact, the maturity amount can be calculated manually, but to avoid human error, you can refer to the online LIC maturity calculator.

Maturity amount is paid out if the policyholder survives until the end of the policy term. The maturity amount payable includes sum assured on maturity, any accrued bonuses and guaranteed additions.

How to Check LIC Maturity Amount?

Your LIC policy maturity amount can be received through both online and offline. LIC of India offers various methods like:

• LIC maturity calculator

• LIC customer portal

• MYLIC mobile app

• SMS service

• LIC’s customer care

Your LIC maturity amount typically includes:

• Sum assured on maturity: The basic amount promised by your policy.

• Vested simple reversionary bonus: Bonus LIC adds every year in participating plans.

• Final additional bonus (FAB): A one-off bonus at the end, if LIC declares one.

• Guaranteed additions: These are fixed amounts that some plans add every year.

This is for money-back, endowment, and whole-life plans. There is no maturity amount in term insurance. It pays only on the death of the policyholder.

LIC Maturity Amount Check Online by Policy Number

The simplest way to do an LIC maturity amount check online by policy number is through LIC's customer portal or the MYLIC app. Both options by LIC of India show your real policy details, not just a guess.

Using the LIC Customer Portal

• Go to LIC's website and open the Customer Portal.

• Log in with your User ID and password. First time? Register with your policy number, premium amount and date of birth.

• Click on Policy Status or Policy Summary.

• Pick your policy. You'll see your sum assured, the bonuses added so far and other details.

Using the MYLIC App

• Download MYLIC from the Play Store or App Store.

• Sign up or log in with your policy number, date of birth and mobile number.

• Tap on Policies or Policy Status, and choose your plan.

• Your sum assured, bonuses, premium schedule and maturity details will show up.

If you want the most accurate LIC policy maturity check, this is it, because the numbers come straight from LIC's records.

How to Check LIC Maturity Amount via LIC Digital App?

LIC maturity amount check can be made easier and quicker using the LIC Digital App. Below are steps to find out how much your LIC maturity amount is:

Step 1: Download the app from Google Play Store or Apple App Store and register using your policy number, date of birth, and mobile number.

Step 2: Sign in to your dashboard.

Step 3: Click on Policies or Policy Status, choose your plan, and you'll see your maturity amount, bonuses, premium schedule, and LIC maturity amount check online by policy number.

How to Check LIC Maturity Amount via SMS?

Let us find out how to calculate the LIC maturity amount using LIC SMS services. Just send ASKLIC < policy number > to 56767877 or 9222492224. You can also get updates on pensions, annuity payments, cheque returns, or existence certificates using the specific codes below:

Note: You can check your LIC policy status by SMS facility.

How to Check LIC Maturity Amount through Customer Care?

LIC customer care is available 24/7 for maturity or policy-related queries. Call the IVRS at +91-022-6827 6827.

LIC has distributed India into various zones for wider accessibility like Central zone, Northern zone, North Central zone, Eastern zone, East Central zone, Western zone, South zone, and South Central zone. All of the zones function through their respective LIC offices and customer care numbers for people to contact LIC online and offline.

LIC Maturity Calculator

An LIC maturity calculator is a quick way to estimate what you'll get when your policy matures. It's handy if you're thinking of buying a policy, or if you just want a rough idea of your returns.

You'll usually need to enter:

• Basic sum assured

• Yearly premium

• Premium paying term

• Policy term

• Plan name or number

The calculator uses current bonus rates, so treat the result as an estimate. LIC sets bonus rates every year, and your final amount can end up a little different.

LIC Policy Maturity Calculator by Policy Number

A lot of people search for an LIC maturity calculator by policy number. Most LIC calculators don't work that way, though. They ask for your plan details instead. If you want the numbers tied to your policy number, log in to the customer portal or the MYLIC app. That's basically your LIC policy maturity calculator by policy number, since it pulls up your actual policy.

What are the Details Required to Use the LIC Maturity Calculator?

Policyholders require a few details like:

• Basic Sum Assured

• Annual Premium Amount

• Premium Paying Term

• Policy Term

Entering these above mentioned factors, will allow the calculator to generate an estimated maturity amount with bonuses. It is easy, quick and reliable for financial planning. Even so, the actual maturity amounts may differ a little as per current rates.

Additional Resources Required at Maturity

LIC also provides downloadable forms for smooth claim processing:

• LIC Maturity Form PDF – available at the bottom of the home page on LIC’s website

• LIC Discharge Form – required to claim the maturity amount

How to Calculate LIC Maturity Amount?

Want to know how to calculate the LIC maturity amount on your own? Here's the basic formula:

Maturity Amount = Sum Assured + Total Bonuses + Final Additional Bonus (if any) + Guaranteed Additions (if any)

Let's take an example. Mr. Kumar has a policy with:

• A sum assured of ₹15 lakh

• A 20-year term

• A yearly bonus of ₹42 per ₹1,000

• A final additional bonus of ₹22 per ₹1,000

• Bonus: (15,00,000 ÷ 1,000) × 42 × 20 = ₹12,60,000

• Final additional bonus: (15,00,000 ÷ 1,000) × 22 = ₹33,000

• Total maturity amount: ₹15,00,000 + ₹12,60,000 + ₹33,000 = ₹27,93,000

So if Mr. Kumar makes it to the end of the term, he gets roughly ₹28 lakh. If he passes away before that, his nominee gets the death benefit. That's usually the sum assured on death plus the bonuses added up to that point.

These bonus rates are just for the example. Real rates depend on your plan and what LIC declares each year.

What’s Included in the LIC Maturity Amount?

The maturity amount varies by policy:

• Basic Sum Assured (BSA) – guaranteed if premiums are paid

• Bonuses for participating plans – annual simple reversionary bonus and FAB (Final Additional Bonus)

• Guaranteed Additions – fixed yearly additions independent of LIC performance

• Special cases – e.g., LIC Bima Jyoti adds ₹50 per ₹1,000 BSA per year

Documents Needed at Maturity

When your policy matures, you'll usually need:

• The maturity claim form or discharge voucher, which you can download from LIC's website or pick up at the branch

• Your original policy bond

• Your bank account details and a cancelled cheque

• ID and address proof for KYC

LIC usually sends you a reminder before the maturity date. You can submit everything at your branch. Policyholders can also look for life insurance plans by LIC online and offline using the same documents.

Difference Between LIC Maturity Amount and Surrender Value

Is Calculating Maturity Amount Online Helpful?

It really is. An LIC maturity amount check online takes a few minutes, and you don't have to visit a branch. Check once a year, and again a few months before your policy matures, so you know what's coming and can plan for it. If you're still deciding on a policy, an LIC maturity calculator gives you a quick idea of what to expect.

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