LIC Index Plus Calculator

Read on to know more about the LIC Index Plus Premium and Maturity Calculator in detail.

What is the LIC Index Plus Premium and Maturity Calculator?

The LIC Index Plus Calculator offered by the LIC of India is an online tool that helps individuals estimate premium payments and maturity benefits for the LIC Index Plus plan. The premium calculator calculates the premium payable based on inputs like the sum assured and policy term. On the other hand, the maturity calculator estimates the total payout at the end of the policy, including returns. The LIC Index Plus calculator, which works just like any LIC Calculator, helps in making informed decisions and effective financial planning for the policy based on various parameters such as:

• Sum Assured: The amount you wish to be insured for.

• Policy Term: The duration for which you want the coverage.

• Age of the Policyholder: Younger policyholders usually pay lower premiums.

• Investment Amount: The portion of the premium that goes into investments.

**You can also check the premiums of your Term Insurance Plan by using the Policybazaar’s Term Insurance Calculator

Benefits of Using the LIC Premium and Maturity Calculator

Below-mentioned are some of the benefits a policyholder can avail by using the LIC Index Plus Calculator:

• Financial Planning: Using the LIC Index Plus calculator, you can plan your finances and achieve your financial goals.

• Informed Decision-Making: Understanding how much you need to pay and what you can expect to receive helps you to make informed investment decisions.

• Comparison: You can compare different scenarios by adjusting parameters in the LIC Index Plus calculator, allowing you to find the most suitable option

How to Use the LIC Index Plus Premium and Maturity Calculator?

Using a premium calculator for the LIC Index Plus plan is a simple process. Follow the steps below to use the calculator:

Step 1: Go to LIC on Policybazaar.

Step 2: Fill in the form on the top right with your name and contact number. Click on “View Plans”.

Step 3: Scroll to LIC Index Plus and click on “Get Details”.

This will take you to a comprehensive plan overview, including its key features, benefits, and investment options. You'll find information on fund performance, guaranteed additions, return of mortality charges, inbuilt life cover, and partial withdrawal options. The page also includes FAQs to resolve common queries. Then click on “Proceed”.
You will see your monthly premium amounts, mode of premium payment, and lump sum payout on maturity.

Why Choose LIC Index Plus?

LIC Index Plus is a non-participating, unit-linked insurance plan (ULIP) that provides dual benefits: life insurance coverage and investment opportunities in equity markets. This plan is designed for individuals seeking long-term wealth accumulation and insurance protection. Here are a few reasons to consider this plan:

• Flexibility: The plan offers flexibility to choose how much and for how long to invest according to your financial requirements.

• Growth Potential: Unlike traditional policies, investments linked to equity have the potential for higher returns.

• Insurance Coverage: Provides peace of mind knowing your loved ones are financially protected in unforeseen circumstances.

• Tax Benefits: Premiums paid are eligible for tax deductions under Section 80C of the Income Tax Act, and the maturity proceeds are also tax-free under Section 10(10D).

Wrapping It Up

The LIC Index Plus Calculator allows you to estimate your premium payments and project maturity benefits, as well as understand the overall returns based on your chosen policy terms and investment preferences. By offering clear insights into your financial commitments and potential outcomes, the calculator helps you evaluate whether LIC Index Plus aligns with your long-term goals. The LIC Index Plus Calculator ensures better planning, transparency, and peace of mind.

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