LIC Jeevan Saral Calculator

Insurance Policies have become indispensable. They are the stepping stones to a carefree modern lifestyle. It is unimaginable to plan higher education, unforeseen medical expenses, renovation or even vacations. Any of these can become a reason to destabilize lives. However, an Insurance Policy comes with enormous complications. Right from finalizing a product to liquidating it, every step in the insurance purchase process involves perplexing calculations. Various calculations need to be made to determine the efficiency and benefits of a plan.

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These include a sum to be deposited, assured final settlement, size of the loan that can be sought, surrender value, premiums, frequency of payments, etc. All of it simply coerces people to consider buying the policy a headache. To relieve such headaches, online insurance calculators are made available to the customers to calculate their insurance-related calculators. One such calculator is LIC Jeevan Saral Calculator. It helps the customers to calculate the LIC Jeevan Saral policies maturity value. 

What is the LIC Jeevan Saral Policy?

It is one of the endowment assurance plans introduced by the LIC of India. It offers the customers to choose the premium amount, tenure of the plan, and mode of the premium payment(monthly/half-yearly/quarterly/yearly). Based on these criteria, the Company will pay the maturity amount (if the policyholder survives the entire term) or the death benefit (if the policyholder dies within the policy term). This is subject to the paid premiums at the end of the term. This policy offers the benefits like flexibility in opting the premiums, term, loyalty additions, tax benefits, term riders. 

Notable Features of the Policy

  • The sum assured by the insured in this policy is equal to 250 times the monthly premium. 
  • If the policyholder survives the entire policy term, loyalty additions will be provided to him and the sum assured. Loyalty benefits are awarded only if the insured continues the policy for a minimum of 10 years.
  • The policy will acquire the surrender value from the 4th year of the policy tenure, i.e., the insured can surrender the policy only after the completion of the 3rd year, subject to the terms and conditions of the policy. If the policy is surrendered after the 5th year, then the surrender penalty will not be imposed.

Eligibility Criteria of the Policy 

Policy term


Entry age of the policyholder


Payment modes


Monthly premium

For 12years-49years age, minimum Rs.250-maximum Rs.10000.

For 50years-60years age, minimum Rs.250-maximum Rs. 10000.

What is the LIC Jeevan Saral Policy Calculator?

The LIC Jeevan Saral CALCULATOR is a very welcome stratagem. It is a simple and convenient tool introduced to take away all the anxiety out of insurance. The LIC Jeevan Saral Calculator, available on multiple platforms, is the software that effortlessly provides answers to the most intimidating questions. Using the calculator several times brings clarity as to how the premium calculations work.

The LIC Jeevan Saral calculator is the most accurate tool to determine dozens of factors. It comes in handy to gauge premiums, loans, bonuses, surrender value, maturity value or even the paying term for the premium. One can figure out the frequency of premium, the number of times the premium paid, the amount of premium, the policy term, and the accuracy of the personal information entered at the time. 

To use the LIC Jeevan Saral CALCULATOR, the customer must log in to the official LIC website. It is a dynamic software tool that has been designed and developed to do away with every doubt regarding insurance. Most of the questions find quick predetermined answers.  

Core Benefits of LIC Jeevan Saral Plan

LIC Jeevan Saral policy came up with quite good benefits for the policyholders. They are:

  1. Death Benefit

    If the policyholders die before the policy term, then the mentioned nominee will get the maturity amount. Death benefit excludes the premium paid in the first year and the rider premium. 

    The calculated death benefit= sum assured(250* monthly premium)+loyalty additions.

  2. Maturity Benefit

    Maturity benefit is the sum assured to the policyholder on the maturity of the policy. It is calculated based on the policy holder’s entry age, policy tenure, and premium. 

    The calculated maturity benefit= sum assured + loyalty additions. 

  3. Rider Benefit

    There are two rider benefits mentioned in this policy:

    • Rider 1: Term rider- The policyholder can opt for this rider if he/she wants to increase the sum assured by a significant outline.
    • Rider 2: Accident and Disability rider- insured can opt this rider to cover the accidental death/disability.
  4. Surrender Benefit

    One can surrender the policy after three years on which the insured will get the surrender benefit. It will be calculated at Guaranteed Surrender Value(GSV)/Special Surrender Value(SSV). 

    GSV=30% of the total premiums- 1st-year premium.

    SSV is calculated based on the number of premiums paid, i.e., 80%sum assured if premiums paid more than 3years and less than 4years. 90% Sum Assured if the premiums paid more than 4years and less than 5years. 100% Sum Assured if the premiums are paid for more than 5years.

How to use the LIC Jeevan Saral Maturity Calculator?

LIC Jeevan policy Saral calculator helps the customers to calculate the maturity amount on the policy. Then comes the question of how to use the calculator? 

  • Visit the LIC official website.
  • Search for the LIC Jeevan Saral calculator
  • Enter the policyholder's age, policy term, and sum assured.
  • The calculator will display the maturity amount/ the death claim amount.

This is how the calculator will be used by the customers, based on which they can opt the policy according to their reasonable premiums.

For example: sum assured= 100000,

                        Term: 21years,

                        Age: 21years,

                        Monthly premium:400,

                        Accident benefit: Yes.

Maturity sum assured: 1,18,924

Loyalty addition: 79,679

Total benefit: 1,98,603

Total premium paid: 1,00,884

Benefits of the LIC Jeevan Saral Calculator 

It helps the user calculate the following:

  • Premium Amount of the Policy
  • Paid-up Value - Calculate the ratio between paid and unpaid premiums. Multiply the assured sum with this ratio. One can arrive at the Paid-up Value. The LIC Jeevan Saral CALCULATOR pre-calculates the Paid-up Value of any policy. Opting to encash the policy for its Paid-up Value is a wise move. The insurer gets the sum assured to the tune of the premium already paid. This makes the policy a ready asset.
  • Surrender Value - Sometimes, due to urgent reasons, policyholders decide to concede and terminate the policy before maturity. The value calculated at such a juncture reflects all previous dealings. The surrender Value increases every year. Paid premiums and bonuses keep on adding to the Surrender Value. 
  • Current Surrender Value - Every Insurance Policy has a lookout or a lock-in period. The minimum time is given to the holder before the policy comes into effect. If an insurer ends the policy before this period, some charges may apply. 
  • A tab always displays this value in the LIC Jeevan Saral CALCULATOR.
  • Loan Availability – Frequent premiums, prompt payments, bonuses, and a steep Surrender Value enhance the cost of an Insurance Policy. A larger loan can be availed against a costlier policy. 
  • Accumulated Bonuses - Sum that gets added to an Insurance Policy at the end of every year. The LIC Jeevan Saral CALCULATOR can clearly state the amount added in that year. It can also compute the benefits that accrue because of the added benefit. 
  • Compare LIC Policies – The LIC Jeevan Saral CALCULATOR is capable of ciphering several policies like the LIC Jeevan Anand, the LIC New Jeevan Anand, or all the different LIC Endowment Policies.


Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.


*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.


**Tax benefit is subject to changes in tax laws. Standard T&C apply.

Written By: PolicyBazaar - Updated: 24 August 2021
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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