LIC New Jeevan Anand Calculator

What is the LIC New Jeevan Anand Premium Calculator?

LIC New Jeevan Anand Premium Calculator is a tool used to calculate the premium amount the policyholder will have to pay for their LIC New Jeevan Anand Plan 715. Once you know the annual premium, you can calculate the final maturity value to which you will be entitled.

How to Use the LIC Jeevan Anand 715 Calculator?

LIC Jeevan Anand Policy 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 LIC Jeevan Anand Plan 715 page on Policybazaar.

Step 2: Fill in the form at the top right corner with your name and contact number.

Step 3: Provide current city, age and annual income.

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

Step 5: The 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 Maturity Calculator?

The 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 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.

How does the LIC New Jeevan Anand Calculator work?

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

• Age at Entry

• Sum Assured

• Policy Term

• Premium Paying Term

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

Eligibility Criteria of LIC Jeevan Anand

Once you enter the required details, the Jeevan Anand calculator instantly offers yearly, half-yearly, quarterly, and monthly premium rates. Choose the payment mode that best suits you and then proceed to get a detailed maturity benefit illustration.

Sample Benefit Illustration Using The LIC New Jeevan Anand Premium Calculator

Let’s assume that a 27-year-old wants to buy coverage worth Rs 10 Lakhs. Here are the specifications he chose:

• Policy Term: 20 years

• Premium Paying Term: 20 years

• Premium Paying Frequency: Monthly

• Sum Assured: Rs 10 Lakhs

Using the LIC Jeevan Anand Policy 20 Years Premium and Maturity Calculator, the policy buyer can estimate the premium they would have to pay. For the above assumptions, the monthly premium amount comes to Rs 5,090 bringing the annual premium to Rs 59,775 inclusive of taxes.

Now, using the LIC Jeevan Anand Maturity 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

LIC Jeevan Anand calculator is a useful tool that helps you estimate the amounts of you premiums, including and excluding taxes, and maturity amount and any other benefits. Knowing these figures helps you be aware of your LIC 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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