LIC Index Plus Plan 873 Calculator

This LIC calculator gives policyholders a chance to know the estimate of their policy value and they just have to input information such as age, premium amount and policy term, etc.

What is the LIC Index Plus Calculator?

The LIC Index Plus Calculator offered by the LIC of India is an online tool that helps individuals estimate the maturity benefits for the LIC Index Plus 873 plan. The LIC Index Plus Returns calculator estimates the total payout at the end of the policy. 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:

• Premium Payable: The amount you would like to pay regularly to the insurer as a premium.

• Policy Term: The length of time you want to be insured.

• Age of the Policyholder: Younger and healthier policyholders usually get the benefits of a lower premium.

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

How to Calculate Returns Using the LIC Index Plus Premium Calculator?

The policy buyers and policyholders can use the LIC Index Plus premium calculator to assess the finances involved in the policy. This LIC Calculator helps the user to be financially aware about their unit linked insurance policy. The steps to calculate maturity and premium details are given below:

Step 1: Visit the official LIC website and find the “How Much Insurance You Need” section.

Step 2: Open the “Premium Calculator”. It will redirect you to an external link.

Step 3: Enter basic personal information like DOB, gender, mobile number, etc. and click “Next”.

Step 4: Click on “Quick Quote”. Select “LIC Index Plus (Plan-873) (Unit Linked)” in the “Unit Linked” tab. Click on “Coverage”.

Step 5: A form asking for your Index Plus plan details opens up. You can adjust your details like premium amount, policy term, mode of premium payment, fund type, and other coverage details. Once you’re done, click on “Get Illustration”.

Step 6: A detailed illustration and its explanation are displayed on the screen as per your selected preferences. The illustration presents details of premium payable, mortality charges, surrender value, death benefit and fund at the end of every policy year.

How the Index Plus Calculator Works?

Let us understand how the LIC Index Plus calculator works for your life insurance policy with the help of an example.

Here are some details of the policyholder and the LIC Index Plus 873 plan specifications:

Sample premium Illustration of the returns are given below:

What are the Benefits of Using the LIC Index Plus Calculator?

Below are some advantages policyholders can enjoy by using the LIC Index Plus calculator:

• Simplifies Complex Calculations: Even with two fund options, Flexi Growth Fund and Flexi Smart Growth Fund, and a selectable BSA of 7 or 10 times the annualised premium, the calculator takes into account all factors to provide results.

• Helps with Financial Planning: The calculator shall help you make sure that your investment plans fit with your long-term goals and financial plans.

• Helps You Make Smart Choices: Knowing the premium amounts and expected returns can definitely help you make good investment choices.

• Allows Scenario Comparison: Changing the inputs to see different results and thus finding the most suitable option is what you do.

• Convenient Online Access: You can find the calculator on the LIC website, so it is at your disposal anytime, making investment planning a matter of seconds without any hassle.

Is Using LIC Index Plus Calculator Helpful?

The LIC index Plus plan 873 calculator is an online tool that can be used by the policyholders of the LIC index Plus 873 plan or by individuals who want to purchase this plan. It is an easy-to-use LIC calculator that accurately estimates the plan benefits. The calculator plays a very useful role as the LIC Index Plus plan is a ULIP plan where the plan benefits are not fixed and the returns depend on the market performance of the chosen fund. It is available for use at the official website of LIC of India or on intermediary platforms like Policybazaar.

LIC Resources

FAQs