LIC Jeevan Tarang Calculator

Benefits of Using the LIC Jeevan Tarang Calculator

Using the LIC Jeevan Tarang Calculator offers several benefits for individuals considering the LIC Jeevan Tarang insurance plan. Let's explore these advantages in detail:

• Financial Clarity: The calculator provides a clear and accurate picture of the financial aspects of the LIC Jeevan Tarang policy. It helps policyholders and potential buyers understand how the plan works, the premiums involved, and the financial benefits it offers.

• Premium Planning: By entering relevant information such as age, sum assured, premium payment mode, and policy term, the calculator estimates the premium amount that needs to be paid. This enables individuals to plan their budget effectively and ensure they can comfortably afford the premiums.

• Estimates of Survival Benefits: The calculator allows users to estimate the survival benefits they can expect to receive at specific intervals during the policy term. It aids in financial planning by helping individuals plan and budget for these periodic payouts.

• Estimates of Maturity Amount: Along with premium calculations, the calculator also provides the estimated maturity amount. This amount represents the sum assured plus any accrued bonuses at the end of the policy term. Having a clear estimate of the maturity amount helps individuals assess the long-term financial benefits and plan accordingly.

• Customization: Users have the flexibility to experiment with different policy parameters within the calculator. They can adjust the sum assured, policy term, and premium payment mode to see how these changes impact the financial outcomes of the policy. This customization enables individuals to tailor the policy to their specific financial goals and needs.

• Comparison: Apart from evaluating the LIC Jeevan Tarang plan, the calculator offered by the LIC of India can be used to compare it with other insurance options. This comparative analysis helps individuals make an informed decision about which insurance product suits their needs and offers the best value.

Why Using the LIC Jeevan Tarang Calculator is Important?

• Informed Decision-Making: Making decisions about insurance and investments is a significant financial commitment. The calculator empowers individuals to make well-informed choices by offering insights into the financial implications of the policy.

• Budget Planning: Estimating premiums through the calculator allows individuals to plan their budgets effectively. They can determine whether the premium amount aligns with their financial capacity and make adjustments if needed.

• Financial Awareness: The calculator promotes financial awareness by illustrating the financial benefits and outcomes associated with the LIC Jeevan Tarang plan. This awareness is crucial for making sound financial decisions.

• Transparency: The calculator provides transparency in terms of premium calculations, survival benefit estimates, and maturity projections. This transparency fosters trust in the insurance plan and the decision-making process.

• Efficiency: Using the LIC Premium & Maturity calculator saves time and effort. Instead of manually performing complex financial calculations, individuals can quickly obtain accurate results, streamlining the decision-making process.

How to Use LIC Jeevan Tarang Premium & Maturity Calculator?

Step 1: Go to the official website of LIC 

Step 2: On the LIC website, look for a section or menu that provides access to various calculators. These calculators may be listed under headings like "Online Tools," "Premium Calculator," or something similar.

Step 3: Choose the LIC Jeevan Tarang Calculator

Step 4: Once you've selected the LIC Jeevan Tarang Calculator, you'll be prompted to enter specific details. You'll need to provide the following:

• Policy Term: Choose the duration of the policy (the number of years for which you want to calculate premiums and the maturity amount).

• Age: Enter your current age.

• Sum Assured: Input the sum assured amount you are considering for the policy.

• Premium Payment Mode: Select whether you intend to pay premiums on a yearly, half-yearly, quarterly, or monthly basis.

Step 5: After entering all the necessary details, click the "Calculate" or "Submit" button. The calculator will process the information and provide you with the results.

Step 6: The calculator will typically generate the following information:

• Premium Amount: It will display the premium amount you need to pay based on the information you provided.

• Survival Benefits: If applicable, the calculator may provide estimates of the survival benefits you can expect to receive at specified intervals during the policy term.

• Maturity Amount: The calculator will project the maturity amount, which includes the sum assured and any accrued bonuses at the end of the policy term.

Step 7: Review the results provided by the calculator. This information can help you assess whether the premium amount fits your budget and how the policy aligns with your financial goals. It's an essential step in making an informed decision about purchasing the LIC Jeevan Tarang policy.

Summing It Up:

Online tools like the LIC Jeevan Tarang Calculator help individuals make well-informed decisions about their insurance and investment choices. Whether you're considering the LIC Jeevan Tarang policy or any other insurance plan, using LIC calculators can be an essential step in planning for a secure and prosperous financial future. 

LIC Resources