LIC Jeevan Anand Returns Calculator

What is the LIC Jeevan Anand Returns Calculator?

LIC Jeevan Anand Returns Calculator is an online tool that allows users to calculate the final benefit amount that the beneficiary will receive on the policyholder's death or at the time of maturity. Estimating the returns before buying the policy gives you more clarity on whether it matches your needs or budget.

However, the LIC of India has withdrawn the LIC Jeevan Anand plan and re-launched its new version as LIC New Jeevan Anand. Thus, you can use its calculator to calculate the premiums of your LIC New Jeevan Anand plan.

Returns from LIC Jeevan Anand Policy

• Death Benefit - The Death Benefit under LIC Jeevan Anand provides financial security, similar to term insurance. If the policyholder dies during the policy tenure, the benefit amount will be 125% of the Basic Sum Assured (SA) or ten times the annual premium. In case of death after the policy term, the family will receive the assured Basic Sum Assured, ensuring continued financial support irrespective of when the demise occurs.

• Maturity Benefit - If you survive the policy term, you will receive a lump sum amount at the end of it. The amount will be equal to the Basic Sum Assured along with bonuses.

• Bonus Amount - The final death and maturity benefits are payable along with a bonus amount. It comprises Simple Reversionary Bonuses and a Final (Additional) Bonus. These amounts depend on the company’s profits in a year and are, therefore, not fixed.

Using the LIC New Jeevan Anand Premium Calculator, you can calculate the premiums of your LIC New Jeevan Anand policy from the comfort of your home.

How to Use the LIC Jeevan Anand Returns Calculator?

The tool is available on LIC's official channels with its LIC premium and maturity calculators. It requires you to fill in certain factors related to yourself and the policy, based on which the returns are calculated.

Factors Considered By the LIC Jeevan Anand Returns Calculator

• Age at the time of entry

• Gender

• Smoking habits

• Basic sum assured

• Policy term

• Frequency of premium payment

• Annual premium amount

Let us look at the below steps to understand the working of LIC Jeevan Anand Returns Calculator:

Step 1: Access the Calculator: Visit the official website of the Life Insurance Corporation of India (LIC). Navigate to the section that provides information about the LIC Jeevan Anand policy. Click on the link to open the calculator.

Step 2: Enter Policy Details: Once you're on the Returns Calculator page, you'll be prompted to enter various policy details. These details may include:

• Policy term: The duration for which you plan to hold the policy.

• Sum assured: The amount of insurance coverage you will receive.

• Premium payment term: The period during which you will pay premiums.

• Premium amount: You will pay the regular premium for the policy.

Step 3: Submit Information: Enter the accurate policy details into the respective fields in the calculator. Ensure that the information you provide is correct to get accurate results.

Step 4: Calculate Returns: After entering the necessary policy details, click on the "Calculate" or "Get Returns" button. The calculator will process the information and estimate the potential returns and benefits you can expect from the LIC Jeevan Anand policy. These estimates typically include the maturity amount, death benefit, and additional benefits the policy provides.

Step 5: Analyze the Results: Review the results displayed by the calculator. You'll likely see the projected maturity amount, which includes the sum assured, bonuses, and other benefits. Additionally, you may see the approximate death benefit payable in case of the policyholder's demise.

Sample LIC Jeevan Anand Return Calculation

The following is an example of how LIC Jeevan Anand returns calculator uses different factors to display results.

Entry Age - 26 years

Policy Term - 20 years

Premium payment term - 20 years

Basic Sum Assured - Rs. 10 Lakhs

• Annual Premium - Using the LIC New Jeevan Anand premium calculator, the annual premium comes out to be Rs.57,031 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. In 20 years, it will be equal to Rs.9,00,000.

• Final Addition Bonus - Assuming the Final Addition Bonus to be Rs.20 per 1000 Sum Assured, the total bonus amount will be equal to 20 x (10,00,000/1,000) = Rs.20,000.

Note: Look for other investment options like Systematic Investment Plans (SIPs) for steady growth. Use SIP Calculator to estimate potential returns and make a well-informed choice.

Summing It Up

The LIC Jeevan Anand returns calculator helps the policyholder estimate the premium amount payable by the policyholder for their LIC Jeevan Anand Policy. Moreover, you can switch between different fields multiple times to get to your best coverage options.

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