1. What is Jeevan Saral With Profits?

Jeevan Saral is a life insurance plan from LIC (Life Insurance Corporation of India) that offers death cover and maturity benefits. The "With Profits" version includes loyalty additions which are bonuses declared by LIC that get added to the maturity value.

2. How Does the Calculator Work?

The calculator uses the simple maturity formula:

Where:

• Maturity Sum Assured — The guaranteed amount payable on maturity
• Loyalty Addition — Bonuses declared by LIC that are added to the policy

Explanation: The maturity value is the sum of the guaranteed maturity amount plus any loyalty additions declared during the policy term.

3. Importance of Maturity Calculation

Details: Calculating the expected maturity value helps policyholders plan their finances and understand the returns from their insurance investment.

4. Using the Calculator

Tips: Enter the Maturity Sum Assured (as specified in your policy document) and the Loyalty Addition (if known). Both values should be in rupees.

5. Frequently Asked Questions (FAQ)

Q1: What is Maturity Sum Assured in Jeevan Saral?
A: It's the guaranteed amount payable on maturity as per your policy terms, calculated based on your premium and policy term.

Q2: How is Loyalty Addition determined?
A: LIC declares loyalty additions annually based on the company's performance. These are added to the policy benefits.

Q3: When does the policy mature?
A: The policy matures at the end of the selected term (10-25 years) or when the policyholder reaches 70 years of age, whichever is earlier.

Q4: Are there tax benefits on maturity amount?
A: Maturity benefits may be tax-exempt under Section 10(10D) of Income Tax Act, subject to conditions. Consult a tax advisor.

Q5: Can I get an estimate of future loyalty additions?
A: Future loyalty additions cannot be guaranteed as they depend on LIC's performance, but you can use historical rates as an estimate.