ULIPs and mutual funds are two popular yet distinct investment avenues, each coming with its unique set of benefits and drawbacks. Know which one is better for your individual needs and preferences.
LIC money back policies are types of insurance products that ensure regular returns or a lump sum amount to the policyholder as well as coverage for their life. An important thing that you must consider before getting such a plan is the LIC money back calculator, which allows you to calculate the maturity value of your policy and other related details.
Let’s find out how this LIC policy calculator works and what are the benefits of using such an online money-back calculator.
Manually calculating the maturity value of your money back policy can be challenging, time-consuming, and prone to errors. With an LIC money back policy maturity calculator, however, you can avoid such challenges and get the results that you want.
It is an effective tool that helps you calculate the maturity value of your money back policy. This calculator from LIC can help you determine the total amount that you would invest over the tenure, the total amount you will receive at maturity, and other details.
You can follow the steps below to calculate the maturity value of your money back policy with the LIC money-back policy calculator.
Click on the ‘calculate button’ after entering all these details to get the results
Listed below are the primary benefits of using the LIC money back policy calculator –
Check out some more details related to the LIC money back policy calculator with some frequently asked questions –
Ans: Yes, the LIC money-back plan calculator is free to use.
Ans: The LIC money back plan calculator helps you save time by displaying prompt results and eliminating inaccuracies. Moreover, this tool can help you decide whether a particular plan is suitable for you in terms of coverage amount, affordability, and other such factors.
Ans: You can be required to enter the policy name, your age, sum assured, tenure, premium frequency, and any other selected benefits to calculate the maturity value of your money back policy and other such details.