LIC New Jeevan Anand Calculator

Let's discuss in detail the LIC New Jeevan Anand Calculator:

What is the LIC New Jeevan Anand Premium Calculator?

The LIC New Jeevan Anand Premium Calculator is an easy online tool to check the premium amount, maturity value and benefits for the LIC New Jeevan Anand Plan 715. This calculator also makes it easy to compare coverages and get the important lic policy data before purchasing the plan. It is offered by the LIC of India, which helps policyholders prepare better for future financial stability and family safety. Once you know the annual premium, you can calculate the final maturity value to which you will be entitled.

How to Use the LIC New Jeevan Anand 715 Calculator?

LIC New Jeevan Anand calculator is an online tool that can be accessed easily for the premium and returns amount calculation. Here are the steps that you can follow:

Step 1: Go to the official website of LIC of India.

Step 2: Scroll down to “How Much you Need” section and click on “Calculate Premium”.

Step 3: Enter the required details such as name, DOB, gender, contact etc. Click on “Next”.

Step 4: Select the plan and click on “Coverage”.

Step 5: Enter policy detail such as sum assured, policy term, PPT, etc and click on “Illustration”. The LIC New Jeevan Anand returns calculator will show you the premium and sum assured amount based on the input.

You can see these amounts and purchase directly if they suit your needs and budget.

What are the Benefits of using the LIC New Jeevan Anand Calculator?

The LIC New Jeevan Anand policy calculator provides several benefits, such as:

• A detailed description of the benefits, including the death benefit, maturity benefit, surrender benefit, and bonuses.

• An year-wise illustration for every policy year, which gives the user a good idea about the entitled benefit amounts.

• The LIC New Jeevan Anand calculator also shows the applicable GST rates.

• One can add a rider benefit to see how the premiums and benefits change.

• It gives instant results and can be accessed at your convenience.

Here is a detailed explanation of the benefits, including Death, Maturity, and other advantages.

• Maturity benefit is the Basic Sum Assured plus incentives declared by LIC.

• The policy still provides life cover beyond maturity without any extra premium.

• The death benefit is paid to the nominees during the policy term to help them financially.

• More protection against accidental death or dismemberment is available with optional riders.

• Loan facility provided after LIC policy has acquired surrender value.

• The LIC New Jeevan Anand calculator helps calculate the premiums and maturity returns quickly.

How does the LIC New Jeevan Anand Calculator work?

This LIC calculator takes into account the following details to give you an accurate estimation:

Input required by the LIC New Jeevan Anand Calculator:

• Age at Entry

• Sum Assured

• Policy Term

• Premium Paying Term

Outputs generated by the LIC New Jeevan Anand Policy Calculator:

• Total Payable Premiums

• Estimated Maturity Amount

To fill in these details in the LIC New Jeevan Anand calculator, you should be aware of the basic eligibility criteria of LIC New Jeevan Anand Plan 715 (previously LIC New Jeevan Anand Plan 915).

LIC Resources

Sample Benefit Illustration Using The LIC New Jeevan Anand Premium Calculator

Below is a sample illustration calculation for the LIC New Jeevan Anand policy. Here you can check premium amounts of 15, 25 and 35 years.

• Policy Term: 15, 25, 35 years

• Sum Assured: Rs 2 Lakhs

Let's understand how LIC New Jeevan Anand Returns Calculator works with an example. Take, for instance, the following scenario: the entry age is 26 years, the policy term is 20 years, and the premium payment period is also 20 years. The basic sum promised that has been selected is ₹10 Lakhs.

Now let's understand the annual premium and bonuses associated with the LIC New Jeevan Anand Returns Calculator:

• Annual Premium - Using the LIC Jeevan Anand Policy 20 years Premium and Maturity calculator, the annual premium comes out to be Rs. 59,468 payable for 20 years.

• Simple Reversionary Bonus - Assuming the Simple Reversionary Bonus to be Rs. 45 per 1000 Sum Assured every year, the total bonus amount in a year will be equal to 45 x (10,00,000/1,000) = Rs. 45,000. In 20 years, it will be equal to Rs. 9,00,000.

• Final Addition Bonus - Assuming the Final Addition Bonus to be Rs. 20 per 1000 Sum Assured, the total bonus amount will be equal to 20 x (10,00,000/1,000) = Rs. 20,000.

Now, using the LIC New Jeevan Anand Calculator, we can see the benefits that this person will be entitled to in the following events

1. Guaranteed Benefits

   • If the insured dies during the policy term: Higher of 7 times the annual premium (7 x 59,775 = 4,18,425) or 125% of the basic sum assured (125% of 10,00,000 = 12,50,000). So, the nominee of the insured gets Rs 12.5 Lakhs.

   • If the insured dies after the policy term: Basic sum assured equal to Rs 10 Lakhs (in this case) will be paid to the nominee of the deceased policyholder.

   • If the insured survives the whole term: Basic sum assured equal to Rs 10 Lakhs (in this case) will be paid to the life assured as maturity benefit.

   LIC of India adds bonuses to the guaranteed benefit amounts which increase the final death or maturity value. These additional amounts depend entirely on the profits earned by the company in a financial year. These accrue every year at a rate per Rs 1000 sum assured.

Wrapping Up

The LIC New Jeevan Anand calculator is a useful tool that helps you estimate your premiums, both including and excluding taxes, as well as the maturity amount and any other benefits. Knowing these figures helps you be aware of your LIC New Jeevan Anand Policy, if you are an existing policyholder or a policy buyer. Provide all the information carefully to get accurate and reliable results.

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