Life Insurance Corporation of India (LIC) has been one of the most trusted names in India’s insurance sector for over 60 years. Millions of Indians invest in various LIC plans to secure their future and protect their families financially. But when it comes to choosing the right plan, most people get confused. This is where the LIC Plans Calculator becomes a lifesaver.

What Is a LIC Plans Calculator?

A LIC Plans Calculator is an online tool designed to help you calculate the maturity amount, premium, and returns of different LIC policies. It’s like a digital assistant that quickly gives you the numbers you usually would have to calculate manually or ask your LIC agent for.

You just need to input some basic details like:

• Your age
• Policy term
• Sum assured (coverage amount)
• Premium payment mode (monthly, quarterly, half-yearly, or yearly)
• Type of plan

After this, the calculator instantly displays your estimated premium amount, maturity value, bonus, and death benefits.

The biggest advantage? You can compare multiple LIC policies in minutes and find which one fits your budget and future goals.

Why Use an LIC Plans Calculator?

Here are some key reasons why you should always use an LIC calculator before buying a policy:

• Time-saving: No need to manually calculate premiums or ask for tables from agents.
• Accuracy: The tool uses official LIC formulas to ensure precise results.
• Comparison: Helps you compare different plans like Jeevan Anand, New Endowment, or Tech-Term.
• Budget planning: You know exactly how much premium you’ll pay every month or year.
• Transparency: You can see policy details, bonuses, and final maturity benefits clearly.

Imagine trying to decide between LIC Jeevan Labh and LIC New Jeevan Anand. Instead of flipping through brochures, you can simply enter details in the LIC calculator and see side-by-side results instantly.

How Does the LIC Plans Calculator Work?

The working of the LIC Plans Calculator is very simple. The tool follows a step-by-step method:

1. Input basic details. You enter your age, gender, and city.
2. Select a LIC plan. Choose the specific plan you are interested in (e.g.,LIC New Children’s Money Back Plan, LIC Jeevan Labh, etc.).
3. Enter sum assured and policy term. This defines your expected coverage and duration.
4. Select premium mode. Choose between monthly, quarterly, half-yearly, or yearly payments.
5. Click “Calculate.”
   The calculator instantly shows:
   • Premium payable
   • Maturity value
   • Bonus (if applicable)
   • Death benefit
   • Surrender value (if applicable)

You can try different combinations of sum assured or policy term to find your ideal plan and budget balance.

Benefits of Using an LIC Plans Calculator

Using a calculator before taking an insurance decision gives you these benefits:

1. Clarity: No more guessing about how much you’ll get or pay.
2. Flexibility: You can test different policy terms and premium amounts.
3. Financial planning: Helps you align your insurance with long-term goals like children’s education or retirement.
4. Transparency: You’ll see the breakup of premium, tax, and bonuses clearly.
5. Confidence: You can make an informed decision, even without consulting an agent.

Popular LIC Plans with Launch and Withdrawal Dates

Here’s a list of some of the most popular LIC plans old and new which many users check using the calculator, along with their launch and withdrawal dates.

Plan Name	Plan Type	Launch Date	Withdrawn / Replaced By	Remarks
LIC Jeevan Anand 149	Endowment + Whole Life	1 Feb 2002	Withdrawn in Oct 2013	Replaced by New Jeevan Anand (815)
LIC New Jeevan Anand 815	Endowment + Whole Life	1 Oct 2013	Active	Offers lifelong cover and maturity benefits
LIC Jeevan Labh 936	Limited Premium Endowment	16 May 2016	Active	High bonus potential
LIC New Endowment Plan 814	Endowment	3 Jan 2014	Active	Simple savings-cum-protection plan
LIC Tech-Term 854	Online Term Plan	1 Sept 2019	Active	Buy online only; pure protection
LIC New Children’s Money Back 932	Child insurance	1 March 2020	Active	Designed for child’s education and future
LIC Dhan Rekha 863	Money Back	13 Dec 2021	Active	Guaranteed additions; no bonus policy
LIC Jeevan Akshay VII 857	Annuity Plan	25 Aug 2020	Active	Single premium pension plan

These plans have evolved over the years. LIC regularly withdraws older versions and replaces them with new, customer-friendly products that comply with IRDAI guidelines.

Step-by-Step Guide: How to Use LIC Plan Calculator Online

Follow these quick steps to use a LIC plan calculator easily:

1. Visit an official LIC calculator page (or a reliable site like liccalculator.info).
2. Choose your preferred LIC plan.
3. Enter your details:
   • Name (optional)
   • Age
   • Gender
   • Policy term
   • Sum assured
4. Choose the premium payment mode.
5. Click on “Calculate Premium.”
6. Review the output, which usually includes:
   • Annual or monthly premium
   • Total investment over the years
   • Total maturity value
   • Total bonus (if policy is eligible)

For example, if you are 30 years old and take LIC New Jeevan Anand for 25 years with a sum assured of ₹10,00,000, you can instantly see your approximate yearly premium and maturity benefit. The calculator even lists estimated bonuses based on historical rates.

Example Calculation (Illustration)

Let’s take an example to understand how the LIC calculator helps.

Example:

• Plan: LIC Jeevan Labh (936)
• Age: 30 years
• Policy Term: 25 years
• Premium Paying Term: 16 years
• Sum Assured: ₹10,00,000

Output:

• Yearly Premium: ₹43,000 (approx.)
• Total Premium Paid: ₹6.88 lakh
• Estimated Bonus + Final Addition Bonus: ₹4.50 lakh (approx.)
• Maturity Value: ₹11.7 lakh

Note: Exact figures vary based on LIC’s declared bonus rates at the time.

Types of LIC Calculators Available

LIC offers different types of calculators depending on the purpose. Here are some of them:

• Premium Calculator: Estimates how much you’ll pay regularly.
• Maturity Calculator: Shows how much you’ll receive at the end of term.
• Loan Calculator: Calculates how much you can borrow against your current LIC policy.
• Surrender Value Calculator: Estimates what you’ll get if you surrender your policy early.
• Bonus Calculator: Helps check accumulated bonuses for specific endowment plans.
• Term Insurance Calculator: Calculates premium and coverage for pure protection policies.

Each calculator handles slightly different inputs, but the process remains the same provide details, and it instantly gives transparent results.

Key LIC Plans You Can Evaluate with Calculator

Let’s explore some famous LIC plans you can evaluate using the calculator to understand their benefits and purposes.

1. LIC New Jeevan Anand (Plan 815)

• Launched: October 2013
• Type: Savings-cum-protection plan
• Benefit: Combines endowment maturity with lifelong coverage.
• Ideal for: Long-term investors who want to secure family even after policy maturity.

2. LIC Jeevan Labh (Plan 936)

• Launched: May 2016
• Type: Limited premium endowment plan
• Benefit: Pay for fewer years, stay covered longer.
• Ideal for: Salaried individuals who prefer limited payment duration.

3. LIC Tech-Term Plan (Plan 854)

• Launched: September 2019
• Type: Online pure term life plan
• Benefit: Lower premiums as it’s a fully online plan.
• Ideal for: Individuals looking for high coverage at low cost.

4. LIC Dhan Rekha (Plan 863)

• Launched: December 2021
• Type: Money back endowment plan
• Benefit: Fixed guaranteed additions every year.
• Ideal for: Those who want periodic returns.

5. LIC New Children’s Money Back (Plan 932)

• Launched: March 2020
• Type: Child insurance plan
• Benefit: Periodic payouts during child’s education + maturity + risk cover.
• Ideal for: Parents planning their children’s future financial safety.

Factors That Affect Premium and Maturity Values

When you use LIC’s plan calculator, remember that results can vary depending on a few important factors:

• Age: Younger people get lower premium rates.
• Sum Assured: Higher coverage means higher premium.
• Policy Term: Long-term plans usually give more bonuses.
• Plan Type: Term plans cost less; endowment and money-back plans cost more.
• Bonus Rate & Additions: Declared annually by LIC.
• Payment Mode: Monthly, quarterly, half-yearly, or annual each slightly changes the total cost.

Advantages of LIC Online Tools

LIC has modernized its platform quite well. Whether through its own site or partner websites like liccalculator.info, you can find tools that simplify every insurance calculation. The advantages are clear:

• No paperwork.
• Instant results anytime, anywhere.
• Free to use no agent commission.
• Customizable for your specific age and coverage.
• Regular updates based on policy revisions.

This convenience makes LIC calculators an essential tool for digital-age policyholders.

Comparison Between Manual vs. Online Calculation

Criteria	Manual Calculation	Using LIC Calculator
Time taken	15–20 minutes	Less than 1 minute
Accuracy	May have human error	Very accurate
Flexibility	Hard to try multiple plans	Easy to compare multiple combinations
Bonus & returns	Difficult to estimate	Automatically updated
Convenience	Needs agent or document	Accessible 24/7 online

Safety and Reliability of Using LIC Calculators

Many people wonder if these online calculators are safe. The answer is yes as long as you use official or trusted third-party sites. Remember:

• LIC’s official website (licindia.in) is the most reliable.
• Independent websites like liccalculator.info or policybazzar.com also offer calculators built using accurate premium chart data.

These tools do not store your personal information unless you voluntarily provide it for a quote or callback, so they’re safe to use.

Online vs Offline LIC Policy Purchase

LIC calculator tools also help you choose whether to buy online or offline:

• Online Plans (like Tech-Term) offer lower premium rates since there is no agent commission.
• Offline Plans (like Jeevan Labh, Jeevan Anand) are bought through agents, which may involve service assistance and bonus tracking.

Before making any purchase, use the calculator for both options to compare real-time costs and maturity values.

How LIC Calculator Helps Agents and Customers Equally

The LIC calculator is not just for customers agents also use it to:

• Quickly show premium quotes to clients.
• Demonstrate benefits visually.
• Reduce errors in manual premium estimation.
• Build customer trust through transparency.

For customers, it removes dependency and allows self-checking — making insurance more democratic and accessible.

Common Mistakes People Make While Calculating LIC Premium

Here are some common mistakes users make and how to avoid them:

• Entering wrong age or term. Always double-check before calculation.
• Ignoring policy type. Each policy has distinct rules for premiums and bonuses.
• Forgetting GST. All LIC premiums include 4.5% GST for first-year premiums and 2.25% thereafter.
• Assuming fixed bonus rates. LIC bonuses vary annually, so current numbers are only estimates.
• Not entering correct mode (monthly/yearly). It affects total annual premium.

Avoiding these errors ensures more accurate and realistic expectations.

Future of LIC Calculators in the Digital Age

With rapid digitization, LIC calculators are becoming smarter. Future updates may include:

• AI-based personalized recommendations.
• Integration with Aadhaar for prefilled forms.
• Real-time bonus value updates.
• Comparison filters across all Indian insurers.

This means, in the coming years, you’ll be able to plan your life insurance as easily as online shopping with accurate predictions and instant approval.

FAQ: LIC Plans Calculator

Conclusion

The LIC Plans Calculator is truly a game-changer for anyone planning their financial future through insurance. It saves time, removes confusion, and brings transparency to the entire process.

Whether you’re a first-time buyer comparing plans or an existing policyholder checking maturity values, LIC’s calculators are your reliable companions.

From Jeevan Anand (launched February 2002) to modern plans like Dhan Rekha (2021) and Tech-Term (2019), one thing remains constant LIC’s commitment to trust and long-term financial protection.