What is LIC Maturity Amount Calculator
An LIC Policy Maturity Amount Calculator is a online tool designed to help policyholders to estimate the final maturity value of their Life Insurance Corporation (LIC) policies. this calculator provides clarity on: Total maturity amount, Accrued bonuses.
Unlike manual calculations, our Online LIC Policy Maturity Calculator eliminates guesswork by factoring in LIC’s latest bonus rates, policy terms, and premium payment frequency.
How is LIC Maturity Amount Calculated?
The maturity amount is calculated as follows:
Maturity Amount = Sum Assured + (Sum Assured × Bonus Rate × Policy Term) / 100
FAQS
How is LIC policy maturity amount calculated?
LIC maturity value = Sum Assured + Accrued Bonuses + Final Additional Bonus (if applicable). Our tool auto-applies LIC’s latest bonus rates for accuracy.
What is the Sum Assured?
Sum Assured is the guaranteed amount that LIC pays to the policyholder at the end of the policy term.
How does the bonus rate affect the maturity amount?
The bonus rate increases the final payout based on the sum assured and the policy term.
Are LIC maturity amounts tax-free?
Yes, under Section 10(10D) of the Income Tax Act, provided premiums don’t exceed 10% of sum assured.