Our LIC maturity calculator helps policyholders estimate the potential returns from their Life Insurance Corporation policies. Whether you have an endowment plan, money back policy, or whole life coverage, this tool provides a clear projection of your maturity amount including bonuses and other benefits.
Follow these simple steps to calculate your policy's maturity value:
LIC maturity values are calculated based on several factors including the sum assured, policy term, bonuses declared, and any additional benefits. Endowment policies typically provide the sum assured plus accrued bonuses at maturity, while money back plans offer periodic payouts during the policy term with a final maturity amount.
The bonus rates vary each year based on LIC's performance and are declared annually. Our calculator uses your input bonus rate to project the potential maturity value, but actual amounts may vary based on future bonus declarations.
Several elements influence your final maturity amount:
Our calculator provides estimates based on current bonus rates and standard LIC calculation methods. While we strive for accuracy, actual maturity amounts may vary due to future bonus rate changes or special declarations by LIC. For precise figures, consult your policy document or LIC agent.
Simple bonuses are calculated on the basic sum assured and remain fixed throughout the policy term. Compound bonuses (declared on some newer policies) are calculated on the accumulated value (sum assured + previous bonuses), potentially yielding higher returns over long terms.
No, term insurance plans typically don't offer maturity benefits unless they include a return of premium feature. Only participating policies like endowment plans, money back policies, and whole life plans provide maturity amounts.
LIC declares bonuses annually, usually at the start of each financial year. These rates apply to eligible policies and remain constant for the duration of each policy year.
Generally no, except in cases of policy surrender (which yields reduced amounts) or for money back policies that have scheduled partial payouts. Some policies allow loans against the surrender value.
The final bonus is an additional amount declared at maturity, calculated either as a percentage of the sum assured or as a per-thousand amount based on the policy term. Our calculator estimates this based on historical LIC patterns.
In India, maturity proceeds from LIC policies are tax-free under Section 10(10D) if premium payments don't exceed 10% of sum assured for policies issued after April 2012. Always consult a tax professional for your specific situation.
Money back policies provide periodic payouts during the term, reducing the sum assured proportionally. The maturity amount is typically a percentage of the original sum assured plus bonuses accrued on the remaining coverage.
You can check accrued bonuses through LIC's customer portal, by visiting a branch office, or by contacting your agent. You'll need your policy number for reference.
If you stop premiums, your policy may lapse or become paid-up (reduced benefits). Paid-up policies receive proportionate maturity benefits based on premiums paid versus total premiums due.
Estimate your annual premium payments for different LIC policy types based on your coverage needs and budget.
Calculate how much you would receive if you surrender your LIC policy before maturity.
Determine loan amounts available against your LIC policy and estimated interest payments.