LIC Bima Lakshmi 881 Plan Calculator

LIC Bima Lakshmi Calculator – An Overview

The LIC Bima Lakshmi Calculator is a web-based tool that accurately computes premiums and benefits under the LIC Bima Lakshmi Plan 881. It acts strictly according to the benefit structure given in the official brochure provided by LIC of India.

This calculator provides:

• An estimate of premium payable based on age and sum assured

• Total premium payable during the premium paying term

• Guaranteed additions accrued under the policy

• Maturity benefit payable at the end of the policy term

• Death benefit payable if the policyholder dies during the policy term

How Does the LIC Bima Lakshmi Calculator Work?

The LIC Bima Lakshmi Calculator basically shows how LIC implements the policy rules on the information fed by the user. It assumes the constant policy format and computes advantages accordingly.

• The calculator considers:

• Age at entry

• Basic sum assured chosen by the policyholder

• Premium paying term selected

• Policy term, which is fixed under the plan

The calculator, therefore, based on these inputs, first estimates the premium and then adds the guaranteed additions as per the brochure. Guaranteed additions are added during the premium paying term and are payable along with the sum assured either on maturity or on death.

The calculator does not speculate on bonuses or market, linked returns, as the plan is non-linked and non-participating.

How to Use LIC Bima Lakshmi Calculator?

Using the LIC Bima Lakshmi calculator is a simple task that can be used by new users as easily as regular users. Like any standard LIC calculator, it can be accessed from the official LIC website. Here are the steps to follow:

Step 1: Go to the official LIC website.

Step 2: Scroll down to “How much you need section”. Click on calculate premium.

Step 3: Provide your basic information as required, such as name ,date of birth, contact, etc. Click on “Next”. 

Step 4: Pick the LIC Bima Lakshmi plan from the list and click on coverage

Step 5: Enter the details required,, like sum assured, PPT, policy term, etc and click on Next.

Benefits of LIC Bima Lakshmi Calculator

• Easy to use: The LIC Bima Lakshmi Calculator is designed with a simple layout that requires only basic details. Even first time insurance buyers can use it comfortably without any confusion.

• Accurate estimation: The calculator strictly follows the designs structure when it gives estimates. Besides, it applies correct premium rates and benefit rules for realistic results.

• Quick results: The calculator gives the results immediately after a person entering the required data. The feature that saves time here does away with manual calculations and repeated discussions.

• Clear premium visibility: It will show you the premium amount that you will have to pay based on your age and the sum assured you have chosen. This will give you a clear idea of your payment obligation even before you buy the policy.

• Transparent benefit projection: The calculator is so straightforward in presenting the guaranteed additions and final benefits. This level of clarity allows you to know exactly how much you will receive at the policys maturity. 

• Comparison made simple: You can easily make comparison in different scenarios by changing the sum assured or premium paying term. It thus becomes a breeze to choose a plan that fits both your pocket and your future needs.

Summing Up

The LIC Bima Lakshmi 881 Plan Calculator is a handy device for a users who are not sure whether to buy this savings-based life insurance plan or not. It gives a clear idea of premiums, guaranteed additions and lump sum benefits strictly according to the plan brochure. You can know the financial performing of the policy even before you buying it. This will give you an advantage of better planning and help you picking a sum assured and premium paying term keeping the long-term financial goals in your mind.