What is LIC Jeevan Umang (945)?

LIC Jeevan Umang (945) is a popular life insurance plan offered by the Life Insurance Corporation of India (LIC). This plan provides a mix of insurance protection and savings.

This Plan covers you for your entire life and also offers annual survival benefits after the premium payment term ends. In case of the policyholder’s death, the plan provides a lump sum payment to the nominee. This plan is ideal for those looking for both financial security and regular income in the future.

The key features of LIC Jeevan Umang (945) include:

1. Lifetime Coverage: It offers life coverage up to the age of 100.

2. Survival Benefits: You receive 8% of the sum assured as a survival benefit every year after the premium payment term is over.

3. Maturity Benefit: If the policyholder survives the policy term, they receive the sum assured along with bonuses.

4. Death Benefit: In the unfortunate event of death, the nominee receives the death benefit which is the sum assured plus bonuses.

What is LIC Jeevan Umang (945) Maturity Calculator?

The LIC Jeevan Umang (945) Maturity Calculator is a tool that helps policyholders estimate the maturity value of their plan. The maturity value includes the sum assured, bonuses, and survival benefits.

It gives you an idea of how much you will get at the end of the policy, based on your inputs like age, sum assured, and policy term.

This calculator simplifies the process of figuring out what the final payout will be. It helps you plan your finances better by providing an estimate of the money you’ll receive during and after the policy term.

How is LIC Jeevan Umang (945) Maturity Calculated?

Calculating the maturity of LIC Jeevan Umang (945) involves several factors:

1. Sum Assured: This is the basic amount guaranteed to you.
2. Reversionary Bonus: This bonus is declared every year and adds to the policy value.
3. Final Additional Bonus: This is an extra bonus that is added at the end of the policy term.
4. Survival Benefits: After the premium paying term, you receive 8% of the sum assured every year until maturity.

The maturity value is the sum of all these components. The policy term, age at entry, and sum assured all affect the final maturity amount.

Why is our “WitSoft LIC Jeevan Umang (945) Maturity Calculator” the best?

Our tool, the WitSoft LIC Jeevan Umang (945) Maturity Calculator, is designed to make calculating premiums and maturity values easier. Here’s why it’s the best:

1. User-Friendly: Our calculator is simple to use, with an intuitive design that anyone can understand.

2. Accurate Results: The tool calculates all key values, such as premiums, bonuses, and final maturity, based on the latest LIC formulas and data.

3. Quick and Efficient: You don’t have to spend hours figuring out complex numbers. Just enter your details, and our calculator gives instant, accurate results.

4. Detailed Breakdown: You get a full breakdown of all the components, including survival benefits, bonuses, and the final payout, so you know exactly how much to expect.

The Formulas Used in Our Calculator

The formulas our calculator uses are straightforward yet powerful:

1. Annual Premium Formula: Sum Assured×Premium Rate (varies by age)

2. Survival Benefit Formula: Sum Assured×8% (received annually after the premium paying term)

3. Reversionary Bonus: Sum Assured×Bonus Rate×Policy Term

4. Final Additional Bonus: Sum Assured×FAB Rate

These formulas ensure you get the most accurate estimates for your LIC Jeevan Umang policy, making it easier for you to plan your financial future, we use many other logics in the backend that are protected.

LIC Jeevan Umang (945) is a great choice for those looking for lifetime coverage and regular income. But figuring out the exact premium and maturity amount can be tricky without a proper tool.

The WitSoft LIC Jeevan Umang (945) Maturity Calculator is your best companion in calculating accurate values. It’s fast, easy to use, and gives you a complete picture of your policy’s worth. Whether you’re planning for the future or just curious about the benefits, our calculator will help you make better financial decisions