LIC Jeevan Anand Returns Calculator

What is the LIC Jeevan Anand Returns Calculator?

It's an online tool that estimates the returns from your LIC Jeevan Anand policy. It shows:

• Payable Premium Amount: the amount that you pay regularly as per your premium paying frequency like monthly, quarterly, half-yearly and even yearly.

• Maturity Values: sum assured on maturity along with any vested bonuses if the policyholder survives the entire policy term.

• Vested Bonuses: a part of bonuses shared by your policy over the years

• Death Benefit Payout: nominee gets this payout after the policyholder’s demise during the policy term

Since bonuses are declared by LIC every year, the calculator's figures are estimates, not guaranteed amounts.

Note: The Old Jeevan Anand plan 815 has been withdrawn by the LIC of India and is no longer available for sale. The latest version is LIC New Jeevan Anand 715, whereas policyholders of existing and older versions can use the LIC Jeevan Anand returns calculator.

What Returns does LIC Jeevan Anand Returns Calculator Policy Offer?

Death Benefit - LIC Jeevan Anand policy pays out a death payout to the nominee if the life assured passes away during the policy term, similar to term insurance. The death benefit is the sum assured at death which is higher of the two options given below and vested bonuses:

• 125% of the Basic Sum Assured (SA)

• 7 times the annual premium

• The payout cannot be less than 105% of the total premiums paid till date.

If the policyholder dies after the maturity date, then a death payout of the basic sum assured is paid out to the nominee of the life assured.

Maturity Benefit - If you survive the policy term, you will receive a lump sum amount (also can be received in installments) 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, if any. These amounts depend on the company’s profits in a particular financial 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.

Details required by the LIC Jeevan Anand Policy Calculator:

• Age of the life assured

• Gender

• Sum assured

• Policy duration

• Frequency of premium payment

• Premium payable

Let us find out how to use the LIC Jeevan Anand Returns Calculator:

Step 1: Visit Life Insurance Corporation of India's (LIC) official site. Click on LIC Jeevan Anand policy to launch the calculator.

Step 2: The Jeevan Anand policy returns calculator asks for policy details like policy term, sum assured, premium paying term, and the premium amount.

Step 3: Check your inputs carefully to make sure that the result generated is precise to your requirements.

Step 4: Click the "Calculate" or "Get Returns" button to see an elaborate illustration of LIC Jeevan Anand policy returns like maturity value, death benefit, and other benefits within the policy terms.

With the LIC New Jeevan Anand Premium Calculator, you have the facility to compute the premiums of your LIC New Jeevan Anand (plan 815’s new version) policy without having to leave your home. LIC also offers various other life insurance policies both online and offline.

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:

Sum Assured: Rs.10 lakh

Policy Term: 20 years

Estimated Bonus Rate: Rs.45 per Rs.1,000 sum assured

Annual Premium: Rs.57,031

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

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

Estimated Maturity Amount: 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 the 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 Lakh

Annual Premium - Rs.59,468 using the LIC Jeevan Anand Policy 20 years Premium and Maturity calculator

Assumption of Simple Reversionary Bonus - Rs.45 per 1000 Sum Assured per year

Total Bonus Amount in a year: 45 x (10,00,000/1,000) = Rs.45,000

Total Bonus Amount in 20 years: Rs.9,00,000

Assumption of Final Additional Bonus: Rs.20 per 1000 Sum Assured

Total Bonus Amount: 20 x (10,00,000/1,000) = Rs.20,000

Note: Opt for Systematic Investment Plans (SIPs) if your goal is steady growth. SIP Calculator allows you to calculate your potential returns and be confident while making a decision.

What are the Benefits of LIC Jeevan Anand Policy Calculator?

Below are the 4 main benefits of using LIC Jeevan Anand policy calculator:

• 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.

• Improves your Financial Planning: When you use the LIC calculator, you can choose the policy period and coverage that match your budget and financial objectives.

• Convenient and Easy to Use: Calculating the premium and the benefit amounts requires a small amount of personal information.

• Facilitates Easy Comparison: You can decide wisely before buying the policy when you have various premium and benefit options readily available.

Is Using the LIC Jeevan Anand Returns Calculator Helpful?

Using the LIC Jeevan Anand calculator is easy and convenient for the users. It is a handy LIC calculator 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, it offers the flexibility to shuffle between different situations to check which suits them the best and fulfills their requirements. The results assist the user in making a responsible financial decision for their future.

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