Wants to calculate LIC Premium? Looking for a LIC Premium Calculator online? If yes than you are at the right place, we’ve created a LIC Premium Calculator which you can use online freely.
How to calculate LIC Premium?
Doesn’t matter how old are you; LIC has been proven to be a mandatory thing that secures the future of the policyholder after maturity. In case of certain demise of the policyholder; it is the base that holds on the financial security of his/her nominee. Depending upon the basic plans of the LIC; its premium may vary from person to person. It can be paid once at the time of purchasing a policy or can pay it at regular intervals of time. To run the LIC seamlessly throughout one need to make premium payments on time and also he/she needs to keep a keen eye on the rules and regulations as well so that one may remain prepared with the maturity benefits.
LIC usually offers the facility of selecting the premium payments term basis and hence keeps care of everyone’s budget as well. One can easily opt for the option of monthly, quarterly, semi-annual and annual basis. Moreover, the amount of premium also depends upon the kind of policy you are going to purchase. Moreover, the credentials of individuals also pay an impact on the amount of premium to be paid on. Younger and healthier customers usually are supposed to have lower premiums whereas the older counterparts have to pay more.
What is LIC Premium Calculator?
For offering ease of premium calculation to the users; Life Insurance Corporation of India formally has introduced a wonderful tool named LIC premium calculator. The tool really has made the premium calculation process much easier. along with the help of maturity amount you are going to get; people can easily calculate the amount of premium that one exactly have to pay out against a particular policy and all this can happen only because of LIC premium calculator.
The tool is the easiest way to calculate the amount one has to get after the maturity of each policy. The tool is really great as it helps the people to think and select the plan and its expected premium one have to pay and the total amount receives. LIC Premium calculator is a great tool that reduces the confusion made and hence the policyholder can have an informed decision on time. If you want; you can also calculate the premium along with the service tax applicable on it also.
How to calculate the LIC premium?
One cannot judge his/her LIC premium as per others. The amount of premium has to pay and the amount you will get at maturity usually depends on the plan that one has to select. The premium amount usually depends upon the various credentials of the applicant. The younger and healthier individual at the age of 25 will be charged a lesser premium than that of the one who is over 30. Moreover, smoking habits also affect the preferential premium to a great extent.
One can easily check out his/her premium dues by making use of the LIC premium calculator. The tool is really a great source to find out the approximate amount of the premium that you have to pay against the policy plan you have chosen. There are different parameters that basically works behind the amount of premium paid against a policy plan such as frequency of payment, age of the policyholder and sum assured, etc.
LIC premium calculator is easily available at the LIC website. Anyone can easily use this calculator from there. It will hardly take your few minutes to fill in the application form and once you have done with it; one can easily get the keyed in details with the help of this wonderful tool also. Along with other required information; one has to feed in other details like approx premium details as well.
One need that you need to keep in mind here is that the premium amount remains near about same throughout. It only changes in case if the insurance company has checked out your background and have found some differences in your profile.
Perform the selection part very carefully
LIC offers a wide range of premium plans for its users. One can easily choose upon the endowment plans, term insurance plans, monthly return plans, child plans and much more. The LIC premium calculator usually differs for each LIC plan that you are wishing to choose upon. You are not supposed to calculate the premium of child plan and LIC Jeevan Anand plan with the same LIC premium calculator.
The tool is really grateful for calculating the maturity benefits of each plan. So, before making a final selection of the LIC policy you are going to choose on; please go through the various policy plans first. Calculate and compare the maturity benefits of each plan along with its premium amount so that you can choose the best one for your depending upon your preferences and needs.