LIC Index Plus Premium and Maturity Calculator

The calculator simplifies the difficult calculations involved in calculating the final payout the policyholder will receive on the completion of the policy term.

What is LIC Index Plus?

LIC Index Plus is a non-participating, unit-linked insurance plan (ULIP) that provides dual benefits: life insurance coverage and investment opportunities in equity markets. This plan is designed for individuals looking for long-term wealth accumulation along with insurance protection. The returns are linked to the performance of selected stock market indices, offering the potential for higher returns compared to traditional insurance plans.

What is the LIC Index Plus Premium and Maturity Calculator?

The LIC Index Plus Premium and Maturity Calculator offered by the LIC of India is an online tool that helps users estimate premium payments and maturity benefits for the LIC Index Plus plan. The premium calculator determines the required premium based on inputs like the sum assured and policy term. On the other hand, the maturity calculator estimates the total payout at the end of the policy, including returns. This tool aids in informed decision-making and effective financial planning.

A LIC Calculator helps you estimate the amount you need to pay for the LIC Index Plus policy based on various parameters such as:

• Sum Assured: The amount you wish to be insured for.

• Policy Term: The duration for which you want the coverage.

• Age of the Policyholder: Younger policyholders usually pay lower premiums.

• Investment Amount: The portion of the premium that goes into investments.

**You can also check the premiums of your Term Insurance Plan by using the Policybazaar’s Term Insurance Calculator

Benefits of Using the LIC Premium and Maturity Calculator

Below-mentioned are some of the benefits a policyholder can avail by using the LIC Index Plus Calculator:

• Financial Planning: Using these calculators, you can better plan your finances and set achievable goals.

• Informed Decision-Making: Understanding how much you need to pay and what you can expect to receive empowers you to make informed investment decisions.

• Comparison: You can compare different scenarios by adjusting parameters in the calculators, allowing you to find the most suitable option

How to Use the LIC Index Plus Premium Calculator?

Using a premium calculator is a simple process. Follow the below steps to use the calculator:

Step 1: Go to the official LIC website and find the Index Plus page.

Step 2: Enter your age, desired sum assured, policy term, and investment amount.

Step 3: Click the calculate button to see your estimated premium amount.

How to Use the LIC Index Plus Maturity Calculator

To calculate the maturity amount of your LIC Index Plus Maturity calculator, follow these steps

Step 1: Go to the official LIC website and find the Index Plus page.

Step 2: Find the maturity calculator on the LIC website.

Step 3: Input your premium amount, policy term, and expected rate of return based on historical data. The calculator will provide you with an estimated maturity amount.

Why Choose LIC Index Plus?

The LIC Index Plus plan stands out due to its blend of life insurance and investment. Here are a few reasons to consider this plan:

• Flexibility: You can choose how much and for how long to invest, adapting it to your financial situation.

• Growth Potential: Unlike traditional policies, investments linked to equity indices have the potential for higher returns.

• Insurance Coverage: Provides peace of mind knowing your loved ones are financially protected in unforeseen circumstances.

• Tax Benefits: Premiums paid are eligible for tax deductions under Section 80C of the Income Tax Act, and the maturity proceeds are also tax-free under Section 10(10D).

Wrapping It Up:

The LIC Index Plus plan is an excellent choice for individuals looking to combine life insurance with investment opportunities. Utilizing the premium and maturity calculators can provide clarity on your financial commitments and expected returns. This planning not only aids in achieving your financial goals but also protects you and your loved ones. If you’re considering a balance of security and growth, LIC Index Plus could be the right plan for you.

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