LIC Index Plus Calculator

Read on to know more about the LIC Index Plus 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 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:

• 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

How to Use the LIC Index Plus Calculator?

Through Policybazaar:

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.

Through the LIC of India website: 

Step 1: Visit the LIC website and scroll down to the ‘How Much You Need’ section.

Step 2: Click on ‘Calculate Premium’

Step 3: Provide the required details such as name, DOB, gender, contact, etc. Click on ‘Next’. Then click on ‘Quick Quote’. 

Step 4: Choose LIC Index Plus Plan from the plan options and hit ‘Coverage’.

Step 5: Here, the LIC Index Plus calculator will require details about the plan, such as the Basic Sum Assured options (between 7 and 10 x the BSA and the Fund Type you prefer). After providing all these details, hit ‘Quote’

The LIC Index Plus return calculator will generate an illustration with detailed calculations. 

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

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

• Helps with Complex Calculations: The LIC Index Plus offers 2 plan options, Flexi Growth Fund and Flexi Smart Growth Fund, and a choice of BSA between 7 and 10 times the annulaised premium. The LIC Index Plus returns calculator takes into account all these fields before calculations.

• 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

• Easy Online Access: The LIC Index Plus returns calculator is easily accessible on the official LIC website and Policybazaar. Both platforms are available anytime, making it quick and convenient to calculate premiums and plan your investments online.

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).

• Maturity Benefit: If the Life Assured survives until the policy’s maturity date, the amount payable will be equal to the Unit Fund Value as on that date.

• Guaranteed Additions: The plan offers guaranteed additions that are credited to your unit fund at specific policy intervals, enhancing the overall value of your investment.

• Optional Riders : You can choose to include the Linked Accidental Death Benefit Rider for added financial protection in the event of an accidental death.

• Refund of Mortality Charges : If you survive until the end of the policy term, the mortality charges (excluding any extra charges due to underwriting) will be refunded to you as an additional benefit.

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 returns Calculator ensures better planning, transparency, and peace of mind.

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