LIC New Jeevan Anand Calculator

What is the LIC New Jeevan Anand Calculator?

The LIC Jeevan Anand calculator allows the users to calculate the premium payable and the returns expected from the Jeevan Anand Policy. There are two calculators - one is the New Jeevan Anand Premium Calculator to calculate premiums and the other is Jeevan Anand Policy Maturity Calculator to estimate the projected returns after the policy ends.

The New Jeevan Anand Premium Calculator computes the total premium amount including the premium payable for optional riders if you add any to the base policy. This calculator makes it easy to compare premiums for different values of sum assured so that you know which amount would be affordable for you, before purchasing the plan.

The LIC Jeevan Anand maturity calculator estimates the policy’s value you will receive at the time of maturity. In case the policy holder survives the policy term, an amount equivalent to the basic sum assured plus bonuses in that financial year are payable to the policyholder at the time of maturity. The calculator requires policyholders personal details along with their goals to present the maturity value as per LIC New Jeevan Anand plan. Potential policy buyers and old users, both can use this maturity calculator.

The LIC Calculator 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 using the LIC Jeevan Anand 715 maturity calculator, to which you will be entitled at the time of claim.

How to Use the LIC New Jeevan Anand 715 Calculator?

LIC Jeevan Anand calculator is an online tool that can be accessed easily for the premium and returns amount calculation of your life insurance policy. Given below are the steps to use the LIC New Jeevan Anand calculator:

Step 1: Open LIC’s official website.

Step 2: Scroll to find “How much do you need?” section and click on “calculate premium” in the premium calculator to calculate premium payable but click on “calculate coverage” in the Coverage Calculator section to get the maturity payout estimation

Step 3: The website takes you to LIC Digital and asks for your basic details like name, DOB, gender, mobile number, email and pincode. Click ’next’.

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

Step 5: Enter policy details such as sum assured, policy term, etc and click on “Illustration”.

The LIC New Jeevan Anand premium calculator will show you the premium amount based on the input. While the LIC Jeevan Anand Plan Maturity Calculator will show you the estimated illustration of the approximate maturity returns from the Jeevan Anand plan of LIC.

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

LIC New Jeevan Anand Policy calculator is a quick online tool that provides instant details of its benefits to the users:

• Detailed policy information: A policy overview provides the potential policyholder details about premium payable, death benefit, maturity benefit, surrender benefit and even bonuses.

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

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

• Quick and easy: It gives instant results and can be accessed from anywhere with a stable internet connection.

Given below is a list of inclusions of the benefits in the Jeevan Anand Calculator:

• Death benefit: Death benefit is paid to the nominee if the policyholder dies within the policy term.

• Maturity benefit: Maturity benefits include the Basic Sum Assured and the incentives of the corporation in that particular financial year. The policy continues to provide life cover to the policy holder after the maturity claim.

• Rider benefits: Riders can be added to the plan to increase the protection in instances of accidental death, permanent disability, etc.

How does LIC Jeevan Anand 715 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 premium calculator to present total payable premiums:

• Age at Entry

• Name

• Mobile number

• Email ID

• Date of Birth

• gender

• Pincode

• Insurance plan

• Sum Assured

• Policy Term

Input required by the LIC New Jeevan Anand maturity calculator (earlier LIC Jeevan Anand 915 Maturity Calculator) to present claim benefits:

• Name

• Date of birth

• Age

• Email ID

• Mobile number

• pincode

• Gender

• Insurance Plan

• Sum Assured

• Policy Term

• Risk category

• Life stage

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

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

Here is an example to present how the LIC New Jeevan Anand calculator works with the information provided by you: Let’s imagine that the user’s age at the time of entry is 20 years for a policy term of 20 years. Premium payment term is also 20 years with 10 Lakhs as the Basic Sum Assured.

Now assume the further benefits as per LIC New Jeevan Anand policy for 20 years using maturity calculator to be:

• Annual Premium Amount - As per the LIC New Jeevan Anand calculator, the annual premium shall 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. Similarly, in a span of 20 years, it will be estimated to be Rs. 9,00,000.

• Final Addition Bonus - Suppose that the Final Addition Bonus is amounted to 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:

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 as the death benefit.

• 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. It is easy to calculate it using the LIC New Jeevan Anand Maturity Calculator (earlier New Jeevan Anand Plan 815 Maturity Calculator).

Wrapping Up

The LIC New Jeevan Anand premium calculator is a useful tool that helps you estimate your premiums. Knowing these figures helps you be aware of your LIC New Jeevan Anand Policy, if you are an existing policyholder or a new policy buyer. Provide all the information carefully to get accurate and reliable results. These estimates help the user to take responsible financial decisions for their family.

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