LIC fixed deposit scheme for senior citizens is a unique term deposit policy tailored to provide individuals aged 60 and above with a financial safety net.
Navigating the complex world of insurance, specifically understanding the intricate calculations involved in determining the premium and maturity value of a policy, can often be daunting. There is certainly a requirement for tools that can simplify this process, making it transparent and manageable for prospective policyholders. Catering to this need, the Life Insurance Corporation (LIC) of India provides an array of calculators on its official website.
Amongst these, the LIC Jeevan Saral 165 maturity calculator has emerged as a crucial tool. This calculator helps users calculate the maturity benefit before venturing into purchasing the plan. This article aims to provide a comprehensive guide on the LIC Jeevan Saral 165 Maturity Calculator. It will delve into the benefits of using this calculator, its usage procedure, and other relevant information that will make your insurance purchase process simpler and more informed.
The LIC Jeevan Saral policy, one of the endowment assurance plans put forth by the life insurance Corporation (LIC) of India, is known for its flexibility. It allows policyholders to select the premium amount, the plan's duration, and the frequency of premium payment, which could be monthly, half-yearly, quarterly, or yearly.
Depending on these choices, LIC will disburse a maturity sum if the policyholder survives the policy term or a death benefit in case of the policyholder's death within the term.
Some key features of this policy that set it apart include -
The LIC Jeevan Saral 165 maturity calculator is a practical tool as it streamlines the process of estimating the maturity benefit and the corresponding premium. Its intuitive design helps prospective policyholders gauge the affordability of the policy and whether they would be able to maintain premium payments over the policy term.
Some of the key benefits of the LIC Jeevan Saral 165 maturity calculator are listed below -
The LIC Jeevan Saral 165 maturity calculator functions by taking into account several crucial factors to provide precise estimates of the maturity benefits. These factors include -
The LIC Jeevan Saral 165 Maturity Calculator will prompt you to provide these details, all of which are determined by the policy's fixed eligibility criteria.
Follow the given steps to compute the maturity benefit by using LIC Jeevan Saral 165 maturity calculator -
With the results in hand, you, as a prospective policyholder, can select the most beneficial policy provisions that align with a feasible premium range and make a well-informed decision.
Mentioned below are some frequently asked questions related to LIC Jeevan Saral 165 maturity calculator.
Ans: The LIC Jeevan Saral 165 Maturity Calculator is an online tool that allows individuals to calculate the maturity benefit and corresponding premium for the LIC Jeevan Saral Policy. By providing a clear picture of the policy's financial implications, this LIC calculator helps you make a well-informed decision.
Ans: You can use the calculator by visiting the LIC official website, heading to the Online Customer Portal, and navigating to the Calculator section. Here, you can enter your personal and desired policy details such as the age, date of birth, and the sum assured. The calculator will then display your estimated maturity benefit and corresponding premium.
Ans: The LIC Jeevan Saral 165 maturity calculator takes into account factors such as your entry age, policy term, sum assured, and an affordable premium amount. These factors play a crucial role in determining the maturity benefit and the premium charged against it.
Ans: No, the LIC Jeevan Saral 165 Maturity Calculator is a free online tool available on the official LIC website. It is designed to assist users in understanding the policy better and making informed decisions without any cost.
Ans: Yes, one of the major benefits of the LIC Jeevan Saral 165 Maturity Calculator is its ability to compare various policy quotes. This comparative analysis can help you choose the most optimal policy that fits within your budget and meets your specific requirements.