1. What is LIC Jeevan Saral Maturity?

The LIC Jeevan Saral is a money-back policy that provides maturity benefits consisting of the Maturity Sum Assured plus any Loyalty Addition declared by LIC. This calculator helps estimate the total maturity amount.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• Maturity Sum Assured — The guaranteed amount payable at maturity
• Loyalty Addition — Bonus amount declared by LIC based on policy performance

Explanation: The maturity value is the sum of the guaranteed amount and any additional bonuses declared by LIC.

3. Importance of Maturity Calculation

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

4. Using the Calculator

Tips: Enter the Maturity Sum Assured (as per your policy terms) and the current Loyalty Addition rate (available from LIC). Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is Maturity Sum Assured in Jeevan Saral?
A: It's the guaranteed amount payable at the end of the policy term, 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 and the policy duration.

Q3: Is the Loyalty Addition guaranteed?
A: No, it's declared annually and may vary. Only the Maturity Sum Assured is guaranteed.

Q4: Can I get an estimate of future Loyalty Additions?
A: No, as they depend on future performance. You can only use current declared rates.

Q5: Are there any tax benefits on maturity amount?
A: Tax treatment depends on current laws. Consult a tax advisor for current regulations.