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LIC Jeevan Saral 165 Maturity Calculator

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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.

What is the LIC Jeevan Saral Policy?

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 sum assured on death is set at 250 times the monthly premium.
  • In cases where the policyholder outlives the policy term, they become eligible for loyalty additions which are included in the sum assured. It must be noted that this loyalty bonus is granted only when the insured upholds the policy for a minimum span of 10 years.
  • The policy begins to accumulate a surrender value starting from the fourth year of the policy's tenure. In other words, the policy can be surrendered only post-completion of its third year.
  • In scenarios where the policy is surrendered post the fifth year, the policyholder is exempt from surrender penalties.

What is LIC Jeevan Saral 165 Maturity Calculator?

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.

Benefits of LIC Jeevan Saral 165 Maturity Calculator

Some of the key benefits of the LIC Jeevan Saral 165 maturity calculator are listed below -

  • Accessible and User-friendly: Being an online tool, the LIC Jeevan Saral 165 maturity calculator is readily available. It provides swift responses to most inquiries related to policy benefits.
  • A Dynamic Tool: This calculator provides insights into premium fluctuations due to changes in the desired maturity value.
  • Customizable Calculations: It assists in evaluating the premium amount (both inclusive and exclusive of taxes) tailored to the unique requirements of each user.
  • Personalized Results: Users receive custom-made outcomes based on their specific inputs regarding the premium frequency and policy term.
  • Transparent and Direct: By bypassing third-party intermediaries, it prevents miscommunication and ensures direct interaction.
  • Cost-free and Convenient: The calculator is completely free and offers the luxury of usage from the comfort of one's home.
  • Comparative Analysis: The LIC Jeevan Saral Plan 165 maturity calculator also facilitates the comparison of various policy quotes such as the LIC New Jeevan Anand, helping users make a well-informed choice.

Factors Considered  By LIC Jeevan Saral 165 Maturity Calculator

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 -

  • Entry Age: This is the age at which the prospective policyholder wishes to initiate the coverage. The calculator takes this into consideration as the starting point of the policy.
  • Policy Term: It refers to the length of time the policy is intended to be in effect. The duration for which the policy will last is an essential determinant in calculating the maturity benefit.
  • Sum Assured: This is the desired amount that the user anticipates receiving as a maturity benefit at the conclusion of the policy term. It significantly impacts the computation of the premium.
  • Premium Amount: Policyholders have the option to decide the premium amount that they can comfortably pay towards securing the desired sum assured.

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.

How to Use the LIC Jeevan Saral 165 Maturity Calculator?

Follow the given steps to compute the maturity benefit by using LIC Jeevan Saral 165 maturity calculator -

  • Access the Official Website: Initiate the process by navigating to the LIC's official webpage.
  • Explore the Online Customer Portal: After landing on the homepage, proceed to the Online Customer Portal.
  • Navigate to the Calculator Section: This portal will guide you to a different site dedicated to calculators.
  • Provide Personal Information: In the provided fields, enter the policyholder's age, date of birth, and contact details.
  • Select the LIC Jeevan Saral Policy: Once the said personal details are submitted, you will be directed to a new page. Here, you can choose the LIC Jeevan Saral Policy from the available options.
  • Detail the Policy as per Your Requirements: Fill in the requested policy information based on your preferences.
  • Get Your Results: Upon the submission of the necessary details, the LIC Jeevan Saral 165 maturity calculator will promptly display the estimated maturity amount, the potential death claim amount, and the corresponding premiums payable.

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.

FAQ's

Q1. What is the 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.

Q2. How do I use the LIC Jeevan Saral 165 Maturity Calculator?

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.

Q3. What factors does the LIC Jeevan Saral 165 Maturity Calculator consider for calculation?

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.

Q4. Is there any charge for using the LIC Jeevan Saral 165 Maturity Calculator?

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.

Q5. Can I compare the LIC Jeevan Saral 165 Maturity Calculator results with other LIC policy calculators?

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.

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