The LIC Jeevan Utsav Calculator is an online calculation tool designed to calculate the premiums payable and maturity amount and help individuals make informed decisions about their financial future. It is free of cost and allows policyholders to check the premium and maturity amount of their LIC Jeevan Utsav policy.
The LIC Jeevan Utsav Calculator is a tool that helps you understand the policy and determine the financial implications of your LIC Jeevan Utsav Policy. The LIC Jeevan Utsav Premium Calculator helps you plan your future finances by estimating premiums payable and calculating the maturity amount you will receive at the end of the policy term.
The following are the key features of the LIC Jeevan Utsav Calculator that benefitbenefits users in various ways:
Premium Estimation:
The calculator allows users to estimate the premium based on their chosen coverage, premium payment term, and other relevant factors.
Sum Assured Calculation:
Easily calculate the Basic Sum Assured, ensuring it aligns with your financial goals and family's needs.
Guaranteed Additions Preview:
Understand how guaranteed additions accumulate over the premium-paying term, providing insights into the policy's growth component.
Survival Benefit Estimations:
The calculator provides projections of Survival Benefits based on the chosen income benefit option – Regular or Flexi. Understand the potential steady income your policy can generate.
Rider Customization:
Explore the impact of including optional riders such as Accidental Death and Disability Rider, Accidental Benefit Rider, New Term Assurance Rider, New Critical Illness Rider, and Premium Waiver Benefit on your coverage and premiums.
Premium Payment Flexibility:
Evaluate premium payment flexibility by adjusting the premium payment term within 5 to 16 years.
How to Use the LIC Jeevan Utsav 871 Calculator?
Using the LIC Jeevan Utsav 871 premium calculator is a simple process. Just follow the below steps to understand how the calculator is used:
Step 1:
Visit the official page for LIC Jeevan Utsav Plan 871
Step 2:
Enter name, age, premium payment term, coverage preferences, and any optional riders.
Step 3:
Based on your input, view the estimated premium, Basic Sum Assured, guaranteed additions, and potential benefits.
Step 4:
Adjust the parameters to explore different scenarios and find a policy structure that best aligns with your financial goals.
Step 5:
While the calculator offers valuable insights, consider consulting with LIC's expert advisors to receive personalized guidance based on your unique financial situation.
**To check the premiums of your Term Insurance Policies, you can visit the Policybazaar’s Term Insurance Calculator.
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The LIC of India offers an array of insurance and investment products to cater to the needs of a diverse range of customers. Let us take a look at the various types of plans offered by Life Insurance Corporation of India:
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Women
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Enjoy the dual benefit of tax deductions under Section 80C and comprehensive insurance coverage with LIC’s tax-saving policies.
Explore LIC's top-performing plans, which provide the perfect blend of investment growth and insurance protection to achieve your financial aspirations.
LIC offers plans tailored for women, focusing on their unique needs. These plans include savings, life cover, and financial independence to secure a brighter future.
Below-mentioned are some benefits of using the Jeevan Utsav LIC Plan Calculator. Have a look:
Clarity in Decision-Making: Understand the financial commitment and benefits of the LIC Jeevan Utsav policy.
Customization: You can tailor the policy to meet your specific needs by adjusting coverage, premium payment terms, and riders.
Real-Time Insights: Receive instant calculations, allowing you to make informed decisions without delay.
Empowerment: The calculator empowers you with the knowledge to choose a policy that aligns with your long-term financial objectives.
Wrapping It Up:
The LIC Jeevan Utsav Calculator is a useful tool in the journey towards financial security. Use this tool to understand the complexities of the LIC Jeevan Utsav policy, paving the way for a secure and well-planned financial future. Remember, for more accurate results, be sure to input precise details into the calculator to enhance the reliability of the estimates.
Q: What is LIC Jeevan Utsav Calculator, and how does it work?
Ans: LIC Jeevan Utsav Calculator is a tool provided by LIC to help individuals estimate returns and benefits for the Jeevan Utsav policy. It also calculates premiums and other relevant details based on the user's inputs.
Q: How can I use the LIC Jeevan Utsav Calculator to plan my investment?
Ans: To use the calculator, enter essential details such as age, sum assured, and policy term. The calculator will then generate estimates of premium amounts, maturity benefits, and other key information, aiding you in making informed decisions about your investment.
Q: Are the results from the LIC Jeevan Utsav Calculator guaranteed?
Ans: The calculator provides estimates based on the information entered, but actual results may vary. It's essential to consider these calculations as indicative, and final figures are subject to policy terms, conditions, and the performance of the underlying investment.
Q: Can I adjust my inputs in the LIC Jeevan Utsav Calculator?
Ans: Yes, the calculator typically allows users to adjust inputs such as premium amount, policy term, and sum assured. This feature enables you to explore various scenarios and understand how different parameters may impact the outcome of your Jeevan Utsav policy.
Q: What is the maturity of Jeevan Utsav?
Ans: Jeevan Utsav is a whole-life policy that does not have a maturity benefit. The payout is a guaranteed income benefit that is paid after all the premiums are paid.
Q: What is the interest rate of LIC Jeevan Utsav?
Ans: The interest rate for the LIC Jeevan Utsav plan is 5.5% per annum. This rate is compounded annually.
Q: What is the paid-up value in Jeevan Utsav?
Ans: The paid-up value refers to the reduced sum assured that is left after the policyholder discontinues paying premiums further. In such a case, the policy does not lapse completely, but the coverage amount is reduced, and the policyholder is given a lesser amount as per the premiums that are paid.
Q: Is LIC Jeevan Utsav tax-free?
Ans: Yes, the LIC Jeevan Utsav policy premiums are exempted under Section 80C, and the maturity benefits are exempt from tax under Section 10(10D) of the Income Tax Act.
Q: What is the age limit for Jeevan Utsav?
Ans: The age limit for LIC Jeevan Utsav ranges from 90 days to 65 years.
Q: Is Jeevan Utsav a pension plan?
Ans: No, LIC Jeevan Utsav is a non-linked, non-participating, individual, savings, whole life insurance plan.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
++Returns are 10 years returns of Nifty 100 Index benchmark
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in