What is the LIC Jeevan Saral 165 Maturity Calculator?
The LIC Jeevan Saral 165 maturity calculator simplifies the calculation of the maturity benefit amount and the premium charged against it. This helps you understand if the coverage is even affordable to you and if you can keep up with the premiums.
Factors considered by the LIC Jeevan Saral 165 Maturity Calculator
The calculator uses the following details to give accurate estimates of the benefit amount –
Entry age – The age at which the policyholder wants the cover to start.
Policy term – This is the duration for which the policy will last.
Sum assured – This is the amount that the user wants to receive as maturity benefit at the end of the policy term.
Premium amount – Policyholders can choose how much premium they can afford to pay for the desired sum assured.
The LIC Jeevan Saral calculator will require you to fill the above details based on the fixed eligibility criteria of the policy.
Eligibility Conditions of the LIC Jeevan Saral Policy
To be able to buy the LIC Jeevan Saral Policy, one must adhere to the following conditions –
Maximum: 35 years
|Entry age of the policyholder
||Minimum: 12 years
Maximum: 60 years
|Maximum Maturity age
||Minimum Rs.250, Maximum Rs. 10,000
|Minimum Sum Assured
Sample Illustration using the LIC Jeevan Saral 165 Maturity Calculator
The following is an illustration of the benefits calculated by LIC’s premium and maturity calculator on inserting the basic sum assured, policy term, your age, etc.
For example: Monthly premium: Rs. 400
Term: 30 years
Entry Age: 35 years
Total premium paid in 30 years = Rs. 400*12*30 = Rs. 1,44,000
Guaranteed sum assured: Rs. 1,62,416
Loyalty addition: Rs. 76,480
Total benefit: Rs. 2,38,896
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 flexibility in choosing 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).
How to use the LIC Jeevan Saral 165 Maturity Calculator?
Visit LIC’s official website.
Go to the Online Customer Portal.
Visit the Calculator section. This takes you to an external site.
Enter the policyholder's age, DOB, and contact details.
Choose LIC Jeevan Saral Policy on the next page.
Input requested policy details as per your needs.
The calculator will display the maturity amount / the death claim amount and premiums payable against it.
Based on the results, they can opt for the most optimal policy benefits that will fit within a reasonable premium range.