LIC Jeevan Anand Maturity Calculator-
How does the LIC plan Jeevan Anand work?
The policyholder chooses the insured amount and the duration of the plan when signing the contract. Depending on the age of the insured person, the insured amount and the duration of the chosen policy, the premium is determined. The policyholder is obliged to pay premiums for the duration of the policy.
If the insured person survives, the policyholder will receive a benefit at maturity.
The amount of the due date is:
additional amount + premium amounts received in the policy + any additional premiums added.
On the death of the policyholder (also after the end of the contract), the nominee now also receives the sum insured under the death benefit.
If, however, the death penalty is paid in the following form: Sum of sum insured at death + bonus earned until date of death + bonus.
The sum insured in the event of death amounts to: 125% of the guaranteed basic amount of premiums paid annually, but not less than 105% of the total amount of premiums paid on death.
Example of LEC maturity calculator Jeevan Anand
Example – Naveen, 35, buys the new Jeevan Anand plan at LIC.
Sum insured = Rs. 5 lakhs
Duration of the policy = 20 years.
The annual bonus is 30 273 rupees, all taxes included to be paid for 20 years.
Annual return simple bonus declared = Rs. 45 for 1000 insured.
This means a bonus of 45 x (5.00 000/1000) = Rs. 22 500 per year. Please note that there is no guarantee that the same rate applies – it can be higher or lower each year.
Final Bonus = Rs. 20 for 1000 sums insured. This means a final bonus of 20 x (5.00 000/1000) = Rs. 10,000 if the policy ends.
Scenario 1 – Naveen survives until the end of the semester
In this case, the sum insured of Rs. 5 lakhs would be paid with a simple cancellation premium and a final premium indicated by the company.
Sum Guarantee + bonus declared for 20 years + bonus declared for the last supplement.
Rs 5,000,000 + (Rs 22,500 x 20) + Rs 10,000 = Rs 9,600,000
In addition, upon his death, his candidate will be entitled to the insured sum of rupees even after the expiry of the policy. 5,00,000
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