Lic Jeevan Labh Calculator
lic jeevan labh calculation:
| Name | Result |
|---|---|
| Premium Amount: | |
| Policy Term (in years): | |
| Yearly Bonus (per 1,000 Sum Assured): | |
| Sum Assured: | |
| Final Calculation: |
The LIC Jeevan Labh Calculator is a powerful tool that helps individuals plan and estimate their returns from the popular LIC Jeevan Labh policy.
With its comprehensive features and user-friendly interface, this calculator simplifies the process of understanding the potential benefits and coverage of this life insurance plan.
Here, we will explore in detail how the LIC Jeevan Labh Calculator works and why it is a valuable asset for anyone interested in maximizing their investments in this life insurance scheme
How to Use the LIC Jeevan Labh Calculator?
The use of the LIC Jeevan Labh Calculator is quite simple and easy to use. Here, we break down the use of this powerful calculator into some simple steps.
Enter Details:
In the calculator interface, you will see four input fields:
Premium Amount:
Enter the premium amount you pay annually for the policy.
Policy Term (in years):
Input the duration of the policy in years.
Yearly Bonus (per 1,000 Sum Assured):
Provide the yearly bonus rate per 1,000 sums assured. This information is typically provided by LIC or the insurance provider.
Sum Assured:
Enter the sum assured for the policy.
Click on “Calculate”:
After entering the necessary details, click the “Calculate” button on the interface.
View Results:
The calculator will process the information you provided and display the final calculation just below the form.
What Formula Use LIC Jeevan Labh Calculator?
The LIC Jeevan Labh Calculator uses a simplified formula to estimate the maturity amount and other related details of the LIC Jeevan Labh policy.
Here’s the simplified formula used in the calculator:
- Maturity Amount: Maturity Amount = (Premium * Policy Term) + (Bonus * Sum Assured * Policy Term / 1000)
- Total Premium Paid: Total Premium Paid = Premium * Policy Term
- Bonus Amount: Bonus Amount = Bonus * Sum Assured * Policy Term / 1000
- Interest Rate: Interest Rate = ((Maturity Amount – Total Premium Paid) / Total Premium Paid) * 100
Final Thoughts
The LIC Jeevan Labh calculator is a valuable tool for individuals looking to make informed decisions about their life insurance needs.
By inputting key information such as age, sum assured, and policy term, users can receive accurate calculations of premium amounts and maturity benefits.
This calculator not only saves time and effort but also provides transparency and clarity in understanding the financial implications of investing in LIC Jeevan Labh policies.
Whether one is considering purchasing a new policy or evaluating an existing one, utilizing this calculator is essential for making well-informed choices.
Take advantage of the LIC Jeevan Labh calculator today to secure your financial future and protect your loved ones.
