Online calculators have proven to be one of the most convenient tools for the young and digitally savvy customers of insurance. Various insurance companies have come up with their premium calculators to promote user-friendliness and increase customer satisfaction. With LIC as well, you can now calculate the premium payable and the maturity benefits that you are entitled to before purchasing a policy.Read more
Here we are going to discuss LIC Jeevan Labh 936 premium and maturity calculator:
With the help of LIC’s Jeevan Labh 936 premium calculator, you can now form an idea of the kind of premium that you would have to pay against the sum assured. You will also understand how the premium tends to vary based on different factors, primarily age. Further, buyers can also get insights into the maturity benefits that they are entitled to basis the premium amount and the sum assured using the LIC’s Jeevan Labh maturity calculator.
You can use the LIC’s Jeevan Labh premium calculator to get an accurate idea of the premium amount payable. The online tool takes into consideration your age, the policy term, and the sum assured to offer you the best estimate on the premium amount. Further, you have the option of adding various riders and the LIC’s Jeevan Labh premium and benefit calculator will reflect the total premium payable and the corresponding maturity benefit receivable.
Visit the official website of LIC.
From the 'Products' drop-down menu, choose 'Insurance Plan'.
On the resulting page, click on ‘LIC’s Jeevan Labh’ among the listed products
Under the ‘LIC Online Service Portal’ menu, click on ‘Premium Calculator’
Fill in your name, date of birth, age, gender, and contact details
Once the details have been fed, you will see the option to either get a ‘Quick Quote’ or to ‘Compare Quotes’
The calculation is done based on the Coverage or the Premium, as opted for by you.
Based upon your requirements, the following details have to be filled in when using the LIC’s Jeevan Labh maturity calculator:
Policy Term - Please note that with LIC’s Jeevan Labh 936, you can choose from 3 different policy term options, viz. 16 years, 21 years, and 25 years.
Premium Paying Term - The corresponding premium paying terms are 10 years, 15 years, and 16 years. For instance, if you choose a policy term of 16 years, the premium paying term will be 10 years.
Sum Assured - The minimum sum assured is Rs.2 Lakhs. There is no cap on the maximum amount that you can assure.
Once you fill in all the details, the results should accurately indicate the premium amount and the maturity benefit. You can scroll to see the premiums payable yearly, half-yearly, quarterly, or monthly and pick whichever option fits your budget.
Please note that the bonus rates that apply to the maturity benefit are subject to company profits and therefore, may change in the future when you purchase the plan.
There are several reasons why a new buyer should make use of tools such as premium calculators. The benefits offered by the LIC’s Jeevan Labh premium calculator are manifold, as defined below:
Online Availability - It is an online tool which means anybody can use it from the comfort of their home.
Free of Cost - LIC offers this tool for free, meaning that people belonging to any income bracket can make use of the calculator.
Reliability - It is featured on the official website of the company, which goes on to demonstrate its reliability.
Versatility - The premium calculator factors in individual aspects such as age and presents specific results according to the options chosen by each buyer.
Instant Results - Once you input the details requested, you do not have to wait around for the results. The calculator offers prompt and accurate responses, which is unlikely when it's done manually.
Accuracy - Given that the LIC’s Jeevan Labh premium and maturity calculator take into consideration the policy term and the sum assured option chosen by each person, it offers the most accurate results.
Compare Quotes - The LIC’s Jeevan Labh maturity calculator offers you the option to compare quotes with other plans and helps you make the best choice.
Flexibility - You have the flexibility to switch between various options and observe for yourself how the premiums vary.
The previously cumbersome process of buying insurance should not be a bother to you now with the incorporation of online tools such as the LIC’s Jeevan Labh maturity calculator. Online tools such as these have the potential to significantly reduce the time required to estimate premiums and to decide the coverage amount. It is quick, easy, efficient, and everything a person needs to make an informed decision while saving a lot of time.
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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
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