LIC Jeevan Anand Returns Calculator

What is the LIC Jeevan Anand Returns Calculator?

LIC Jeevan Anand Returns Calculator is a simple online tool that helps you estimate the total cost and potential returns based on your inputs. It calculates the total benefits that the beneficiary will get either on the death of the policyholder or at the time of maturity. Return estimates made before purchasing the policy help you gain more clarity on whether the policy fits your requirements and budget. Simply put, LIC Jeevan Anand Returns Calculator is a tool that can be used to forecast:

• The maturity amount

• Bonuses earned during the policy term

• Death benefit payable to nominees

• Premium amount to be paid

However, the LIC of India has withdrawn the old LIC Jeevan Anand 815 plan and relaunched its new version as LIC New Jeevan Anand 715. Policyholders of the old or new LIC Jeevan Anand can use this calculator to estimate their plan's benefits, irrespective of the plan version.

LIC Jeevan Anand Policy Benefits Paid as Returns

• Death Benefit - The Death Benefit under LIC Jeevan Anand provides financial security, similar to term insurance. If the policyholder dies during the policy tenure, the benefit amount will be the higher of:

  • 125% of the Basic Sum Assured (SA)

  • 10 times the annual premium

• In case of death after the policy term, the family will receive the Basic Sum Assured, providing financial support irrespective of when the demise occurs.

• Maturity Benefit - If you survive the policy term, you will receive a lump sum amount (also can be received in instalments) at the end of it. The amount will be equal to the Basic Sum Assured along with bonuses.

• Bonus Amount - The final death and maturity benefits are payable along with a bonus amount. It comprises Simple Reversionary Bonuses and a Final (Additional) Bonus. These amounts depend on the company’s profits in a year and are, therefore, not fixed.

How to Use the LIC Jeevan Anand Returns Calculator?

The LIC Jeevan Anand policy calculator is available on LIC's official channels with the rest of LIC premium and maturity calculators. It requires you to fill in certain details related to yourself and the Jeevan Anand policy, based on which the returns are calculated.

Factors Considered By the LIC Jeevan Anand Policy Calculator

• Age at the time of entry

• Gender

• Basic sum assured

• Policy term

• Frequency of premium payment

• Annual premium amount

Here are the steps to use the LIC Jeevan Anand Maturity Calculator:

Let us look at the below steps to understand the working of LIC Jeevan Anand Returns Calculator:

Step 1: Open the Calculator: Go to the Life Insurance Corporation of India's (LIC) official site. Find the tab about the LIC Jeevan Anand policy. Click the link to launch the calculator.

Step 2: Fill in Policy Details: When you come to the Returns Calculator screen, you will have to provide several policy details. The policy details are:

• Policy term: The period for which you want to keep the policy.

• Sum assured: The amount of insurance cover you will be eligible for.

• Premium payment term: The duration over which you will be paying the premiums.

• Premium amount: You will pay the policy's regular premium.

Step 3: Share the Details: Place the exact policy details on the areas of the calculator. To get the correct results, make sure your input is correct.

Step 4: Calculate Returns: When you enter your policy details, click "Calculate" or "Get Returns" button. The calculator provides estimates of the maturity value, death benefit, and other benefits.

Step 5: Analyze Results: You go through the maturity amount projections that include the sum assured and bonuses, as well as the estimated death benefit.

With the LIC New Jeevan Anand Premium Calculator, you have the facility to compute the premiums of your LIC New Jeevan Anand policy without having to leave your home.

How Does LIC Jeevan Anand Return Calculator Work?

Let's understand the working of LIC Jeevan Anand policy calculator with the help of an example:

Assuming, You buy a policy of LIC Jeevan Anand with a sum assured of 10 lakhs and a policy term of 20 years. An estimated bonus rate of ₹45 per 1,000 sum assured has led to your annual premium being around ₹57,031.

Estimated Annual Bonus: 45 (10, 00, 000 1, 000) = 45, 000

Total Bonus for 20 Years: 45, 000 20 = 9, 00, 000

The estimated maturity amount may have been: 10, 00, 000 (Sum Assured) + 9, 00, 000 (Bonus) = 19, 00, 000

Note: It is a calculation based on the estimated bonus rates. The actual maturity value may vary depending on the bonuses LIC declares at that time.

Sample LIC Jeevan Anand Return Calculation

The following is an example of how LIC Jeevan Anand calculator uses different factors to display results.

Entry Age - 26 years

Policy Term - 20 years

Premium payment term - 20 years

Basic Sum Assured - Rs. 10 Lakhs

Annual Premium - Using the LIC Jeevan Anand Policy 20 years Premium and Maturity calculator, the annual premium comes out to be Rs.59,468 payable for 20 years.

Simple Reversionary Bonus - Assuming the Simple Reversionary Bonus to be Rs.45 per 1000 Sum Assured every year, the total bonus amount in a year will be equal to 45 x (10,00,000/1,000) = Rs.45,000. In 20 years, it will be equal to Rs.9,00,000.

Final Addition Bonus - Assuming the Final Addition Bonus to be Rs.20 per 1000 Sum Assured, the total bonus amount will be equal to 20 x (10,00,000/1,000) = Rs.20,000.

Note: Look for other investment options like Systematic Investment Plans (SIPs) for steady growth. SIP Calculator allows you to calculate your potential returns and be confident while making a decision.

Benefits of LIC Jeevan Anand Policy Calculator:

Below are the 5 main benefits of using LIC Jeevan Anand policy calculator:

Step 1: Get Premium Estimation in Seconds: Without going through the tiring process, you can get the premium amount calculated instantaneously for monthly/ quarterly/half-yearly/ yearly modes.

Step 2: Improves your financial planning: When you use the calculator, you can choose the policy period and coverage that match your budget and financial objectives.

Step 3: Convenient and easy to use: Calculating the premium and the benefit amounts requires a small amount of personal information.

Step 4: Facilitates easy comparison: You can decide wisely before buying the policy when you have various premium and benefit options readily available.

Summing It Up

The LIC Jeevan Anand calculator is a handy tool that policyholders can use to figure out the approximate returns and the premium amount that they would need to pay for their LIC Jeevan Anand Policy. Besides, you have the option to interchange the risk categories several times in order to find your best coverage options.

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