LIC New Jeevan Sathi Limited Premium Plan 889 Calculator

What is LIC New Jeevan Sathi Limited Premium Plan 889 Calculator?

LIC New Jeevan Sathi Limited Premium Plan 889 Calculator is an online premium and benefit estimation tool specially created for LIC New Jeevan Sathi Limited Premium Plan 889. This plan covers both spouses under one single policy and premium payment is done only for a limited period. The calculator tool by LIC of India enables users to know about the likely premium amount and policy benefits by taking into account the age, basic sum assured, policy term, premium payment term, and the chosen death benefit option.

The premium estimation provided by this calculator is based on LIC's current premium rates and terms of the policy. Customers can use the calculator via LIC's official website to familiarize themselves with the policy's cost and benefits even before the purchase.

How LIC New Jeevan Sathi Limited Premium Plan 889 Calculator Work?

The LIC New Jeevan Sathi Limited Premium Plan 889 Calculator generally requires the following information:

• Age of the Primary Life Assured

• Age of the Secondary Life Assured

• Basic Sum Assured

• Policy Term

• Premium Payment Term

• Death Benefit Option (Option I or Option II)

• Online or Offline Purchase Mode

• Rider Selection, if applicable

• Eligible Rebates, if any

Based on these inputs, the calculator estimates:

• Annual Premium Payable

• Total Premium Outgo

• Annual Guaranteed Additions

• Total Guaranteed Additions

• Maturity Benefit

• Death Benefit

How to Use LIC New Jeevan Sathi Limited Premium Plan 889 Calculator?

Using the LIC New Jeevan Sathi Limited Premium Plan 889 Calculator is simple:

Step 1: Visit the official LIC website.

Step 2: Click on the "Calculate Premium" option available under the "How Much You Need" section.

Step 3: Enter details such as name, date of birth, gender, and mobile number. Proceed by clicking "Next" and then select "Quick Quote."

Step 4: Choose LIC Jeevan Sathi Limited Premium Plan (889) from the available list of plans.

Step 5: Enter the required details including Basic Sum Assured, Policy Term, Premium Payment Term, and ages of both lives assured.

Step 6: Review the premium and benefit estimates generated by the calculator.

The results will provide an estimate of the premium payable along with the projected maturity and death benefits.

LIC Jeevan Sathi Limited Premium Plan 889 Sample Illustration

Premium Illustration Using LIC Jeevan Sathi Plan 889 Premium Calculator

The sample illustrative Yearly Premium (in Rs.) for Basic Sum Assured (BSA) of Rs 3 lakhs and calculated for standard lives considering the same age for both lives, for policies sold through Offline sales are as under:

Benefits of Using a LIC New Jeevan Sathi Limited Premium Plan 889 Calculator

There are several advantages of using the calculator:

• Estimate the amount of premiums payable: determines the premium amount after taking into account age, basic sum assured, policy term, premium payment term, etc.

• Projects maturity benefits: Shows approximately what the maturity amount will be, which includes the basic sum assured and guaranteed additions, which are to be paid at the end of the policy term.

• Comparison of Coverage Options: Shows various combinations sum assured, direly; provides aid to take a choices of death benefit options before one opts for the plan.

• Supports Financial Planning: Lets couples see how the policy pleases their long-term savings, protection, and family financial goals.

• Surrender Value Estimation: Shows what the policy is worth if you need to terminate the contract early.

Summing Up

The LIC Jeevan Sathi Limited Premium Plan 889 is an effective tool to get accurate calculations of premium and benefits under this joint-life insurance plan. Besides allowing the user to get estimates of premiums, guaranteed additions, maturity benefits, and death benefits, the calculator serves as a helpful tool, giving individuals a better sense to choose coverage as per their long-term family planning.