1. What is LIC Jeevan Saral Plan 165?

LIC Jeevan Saral Plan 165 is a participating non-linked endowment plan that offers death cover throughout the term of the policy and maturity benefit on survival to the end of the policy term.

2. How Maturity is Calculated

The maturity value is calculated using the formula:

Where:

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

Explanation: The maturity benefit is the sum of the guaranteed amount and any loyalty additions declared by LIC during the policy term.

3. Understanding the Components

Details: The Maturity Sum Assured depends on the premium paid and policy term. Loyalty Addition varies based on LIC's annual declarations and is not guaranteed.

4. Using the Calculator

Tips: Enter the Maturity Sum Assured and Loyalty Addition amounts in rupees. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: How is Maturity Sum Assured determined?
A: It's based on your premium amount and policy term, as specified in the policy document.

Q2: What factors affect Loyalty Addition?
A: LIC's overall performance, investment returns, and policy duration affect the Loyalty Addition.

Q3: Is the Loyalty Addition guaranteed?
A: No, it's declared annually by LIC based on their performance and is not guaranteed.

Q4: Can I get an estimate of future Loyalty Addition?
A: No, as it depends on future performance and declarations by LIC.

Q5: Are there tax benefits on maturity amount?
A: Tax benefits are subject to prevailing tax laws at the time of maturity.