LIC Maturity Calculator 2025
Calculate your LIC policy maturity amount with bonuses and total returns
LIC Maturity Calculator
How Does LIC Maturity Calculator Work?
To use the LIC Maturity Calculator, you just need to enter a few key details:
- Sum Assured (the base amount of the policy)
- Annual Premium (optional but helpful for comparing total paid)
- Policy Term (in years)
- Estimated Average Bonus Rate (based on past LIC declarations)
- Final/Terminal Bonus (optional and variable)
The calculator then displays:
- Estimated Maturity Value
- Total Bonus
- Total Premiums Paid
Sample Maturity Estimates
| Policy Term | Sum Assured | Bonus Rate | Final Bonus | Est. Maturity Value |
|---|---|---|---|---|
| 20 Years | ₹5,00,000 | ₹45/1000 SA | ₹10,000 | ₹9,60,000 |
| 18 Years | ₹3,00,000 | ₹50/1000 SA | ₹5,000 | ₹5,65,000 |
| 21 Years | ₹7,00,000 | ₹42/1000 SA | ₹15,000 | ₹11,75,000 |
Key Features of LIC Maturity Calculator
Simple Interface
User-friendly design with easy-to-understand inputs
Instant Results
Get maturity estimates in seconds without any login
Mobile Responsive
Works perfectly on all devices and screen sizes
Accurate Calculations
Based on LIC's bonus structure and policy terms
Use the LIC Maturity Calculator to know your policy’s maturity value, sum assured, and bonuses. Plan your financial future with confidence.
Life Insurance Corporation of India (LIC) is one of the most trusted insurers in India, helping millions secure their future through various insurance plans. A common question among LIC policyholders is, “What will I get back when my policy matures?” Understanding this helps in planning your finances better.
What is LIC Policy Maturity?
When you buy a life insurance policy from LIC, you pay premiums for a specified number of years, called the policy term. On completion of this term, if you survive, LIC pays you the maturity amount. This money acts as both a savings and insurance benefit.
The maturity amount generally includes:
- Sum Assured: The guaranteed amount assured to the policyholder.
- Bonuses: These are additional returns declared by LIC based on profits made from investments. Bonuses may be added yearly or at maturity.
- Final/Terminal Bonus: A special one-time bonus that LIC may add when the policy matures.
Why Calculate LIC Maturity Amount?
Knowing your expected maturity amount is important because it helps you:
- Plan your financial goals like buying a house, funding your child’s education, or retirement.
- Evaluate your current investment and decide whether it meets your expectations.
- Compare different LIC plans before buying to select the best one for your needs.
- Avoid surprises at the time of maturity by having a rough estimate in advance.
What is a LIC Maturity Calculator?
A LIC Maturity Calculator is an online tool designed to estimate the maturity value of your LIC policy based on certain inputs. It simplifies complex calculations into a few clicks, saving you time and effort.
You don’t need to do manual math or contact LIC agents for basic information. With the calculator, you can get an instant estimate by entering your policy details.
How Does the LIC Maturity Calculator Work?
The calculator requires a few inputs from you:
- Sum Assured: This is the base amount your policy promises to pay.
- Policy Term: The number of years for which the policy is active.
- Bonus Rate: The rate at which LIC declares bonuses per ₹1000 sum assured (usually available from past LIC bonus charts).
- Final/Terminal Bonus: If applicable, this adds to the total maturity amount.
- Annual Premium (optional): Helps compare the total premiums you paid versus your maturity value.
Using these inputs, the calculator uses the formula:Maturity Amount = Sum Assured + (Bonus Rate×1000 Sum Assured×Policy Term) +Terminal Bonus
This formula calculates your total estimated maturity value, including bonuses that increase your returns over time. The tool may also show total premiums paid for your understanding.
Step-by-Step: Using LIC Maturity Calculator
Here is a simple guide to using the LIC maturity calculator:
- Visit a trusted LIC calculator website: Examples include LIC’s official site or reputed third-party tools such as liccalculators.net.
- Enter your sum assured: This is mentioned in your policy documents.
- Fill in the policy term: How many years is your LIC policy for?
- Enter the bonus rate: You can find this in LIC’s bonus declaration charts or approximate it from recent years.
- Add terminal bonus: If applicable, enter the final bonus declared at policy maturity.
- (Optional) Add annual premium if you want to see the total investment cost.
- Click on ‘Calculate’ or similar button to get your estimate.
- Review your maturity amount and other details displayed instantly.
Example Calculation
Let’s see an example to understand better.
Suppose Mr. Sharma has an LIC policy with:
- Sum Assured = ₹10,00,000
- Policy Term = 20 years
- Bonus Rate = ₹45 per ₹1000 sum assured per year
- Terminal Bonus = ₹15,000
Calculations:
- Total Bonus = 10,000,0001000×45×20=₹900,000
- Maturity Amount = Sum Assured + Total Bonus + Terminal Bonus
- Maturity Amount = ₹10,00,000 + ₹9,00,000 + ₹15,000 = ₹19,15,000
So, Mr. Sharma can expect approximately ₹19.15 lakhs at maturity.
Benefits of Using LIC Maturity Calculator
Using a LIC maturity calculator has many advantages:
- Accuracy: It gives a close estimate based on declared bonuses and sum assured.
- Convenience: No need for complex manual calculations.
- Quicker decision making for buying or understanding a policy.
- Transparency: Helps policyholders understand how bonuses affect total returns.
- Financial Planning Tool: Helps align insurance returns with other goals.
Important Notes About LIC Maturity Calculator
- The bonus rates and terminal bonus vary each year based on LIC’s profits and are not fixed.
- The calculation is an estimate and may differ slightly from the actual maturity amount.
- This applies mostly to participating (with-profits) policies where bonuses are declared.
- For non-participating or term plans, the maturity amount may only be the sum assured or simpler.
- Accurate bonus rates should be taken from LIC’s official website or statements.
What Affects LIC Maturity Amount?
Several factors influence maturity value:
- Sum Assured: higher sum assured means a larger maturity.
- Bonus Rate: Dependent on LIC’s declared profits over the years.
- Policy Term: Longer policy terms accumulate more bonuses.
- Premium Payment: Timely payment impacts policy status.
- Plan Type: Different LIC plans have different maturity benefits.
Types of LIC Policies and Maturity Calculation
LIC offers various plans, and maturity calculation differs among them:
Endowment Plans
These combine insurance with savings. Maturity amount includes sum assured + bonuses.
Money Back Plans
Provide periodic payouts during policy term plus the maturity amount.
Term Insurance Plans
Usually, there is no maturity amount payable; benefits are death cover only.
Unit Linked Insurance Plans (ULIPs)
Returns depend on market value of units; the calculator for ULIPs differs.
How to Check Your LIC Policy Bonus Rates?
LIC publishes bonus rates each year, which are essential for maturity calculations. You can check these on the official LIC website or trusted LIC-related portals.
Using LIC Customer Portal and Mobile App
LIC also offers digital ways to track your policy:
- LIC Customer Portal: Access policy details and maturity info online.
- LIC Mobile App: Check bonuses and maturity dates anytime.
These tools are useful for real-time updates beyond just calculator estimates.
FAQs About LIC Maturity Calculator
What is a LIC Maturity Calculator?
A LIC Maturity Calculator is an online tool that helps you estimate how much money you will receive when your LIC policy matures. It considers your sum assured, policy term, and declared bonuses to give you an approximate maturity amount.
How accurate is the LIC Maturity Calculator?
The calculator provides a close estimate based on current bonus rates. However, the actual amount may vary slightly because final bonuses are declared by LIC only at maturity and can change over time.
Where can I find the bonus rate for my LIC policy?
You can find the latest bonus rates on the official LIC India website under the “Bonus Declaration” section or through trusted financial websites that track LIC updates.
Is the maturity amount from LIC taxable?
No, the maturity amount received from LIC is tax-free under Section 10(10D) of the Income Tax Act, provided the premium paid does not exceed 10% of the sum assured for policies issued after April 1, 2012.
What is the difference between surrender value and maturity amount?
Surrender value is the amount you get if you stop paying premiums before the policy ends. It is usually much less than the maturity amount, which is paid only when the full policy term is completed.
Does the calculator include the final bonus?
Yes, most LIC maturity calculators allow you to add the terminal or final bonus separately. This bonus is declared by LIC at the time of maturity and can significantly increase your total payout.
Conclusion
The LIC Maturity Calculator is a user-friendly, efficient way to estimate your policy’s maturity amount without hassle. It helps you understand how much you can expect from your LIC investment over time, incorporating guaranteed sum assured and bonus additions.