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LIC premium calculator for the mobile term plan, Jeevan Saral, Jeevan Arogya and other All plans.

How to use Lic Premium calculator?

  1. Simply select any plan if you want to purchase from LIC,
  2. Enter your Age manually or Scroll the bar from minimum to maximum.
  3. Enter Sum Assured between limit for a specific plan. the sum assured varies to plan to another plan. It depends on the product, policy length, other survival, death, PA benefits. if you want to know more about it go to LIC sum assured explanation page.
  4. And click on calculate.

LIC Premium Calculation In Online

  • In this method, you need to go for the official LIC website link such as www.licindia.in/Customer-Services/Premium-Calculator
  • Then you will be directed to the calculator web page and here you need to select your plan and tap on the calculate button.
  • Then you need to enter your age, terms and sum assured and accident benefits.
  • Finally, after filling out all this information then click on the calculate button to get your exact result.

How to calculate LIC Premium?

Premium rate: depends on age & particular plan  (20,25,30,35,40) premium for 1000 INR & policy term.

Sum Assured: (insurance coverage or the total amount you pay)

Policy Term: number of years you have to pay the premium.

Riders (if any): Accidental & Disability:  extra premium

 

GST: 4.5% 2nd year onwards 2.5%.

 

Calculating Formula

Here is the mathematical calculating formula to calculate the premium per month.

IP (insurance Premium) per month= the Monthly insured amount x the Insurance Premium Rate

The Insured person’s self-paid premium per month= Monthly insured amount x Insurance Premium Rate x Insured person’s self-paid ratio

Insurance premium paid by the governments per month = Monthly insured amount x Insurance premium rate – Insured person’s self-paid premium.

Here Sum Assured means the money you can adjust
to insured. For example, we choose new Jeevan Anand, age automatically adjusted as the minimum basis
Here policy Jeevan Anand policy minimum age and term sum assured values automatically adjusted.
SA (Sum assured Amount) 1 lakh to something. Here I have added 1 crore and the minimum term is 15 years.
you can adjust it once you entered values. if you any queries comment below.
PLAN 0815 New Jeevan Anand 0815 New Jeevan Anand
TERM 15 16
AGE 25 (premium depends on the person’s age) 27 (2016/9)
SumAssured 10,00,000 5 lakhs
Yearly (Rs)  75939 36696
Half Yearly (Rs)  38372 18,348.00
Quarterly (Rs)  19388 9174
Monthly (Rs)  6463 3058
Disclaimer: Service Tax is not shown in the calculation. Premium Shown Above is Indicative and not Exact
Actual Premium May vary according to Underwriting Rules Applicable.
Bonus rate: in case of endowment plan 4%* interest rate added 40INR for 1000 Rupees. check here lic bonus rates.
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the calculating premium on mobile

Note: This calculator also works for both mobile and desktops.

  1. Term:
  2. Pay Term: Sum Assured
  3. Enter Monthly Premium
  4. Pension Calculation Option /Calculate Purchase Price / Calculate Pension Amount
  5. Enter Pension Amount
  6. Pension mode
  7. Accident Benefit Accident Benefit
  8. Single Premium Single Premium
  9. Husband Age:
  10. Wife Age:
  11. Dependent Age:
  12. Premium Quotation

 

  1. New Endowment Plan (814)
  2.  New Jeevan Anand (815)
  3.  Jeevan Shagun (826) Jeevan Rakshak (827)
  4.  New Bima Bachat (816)
  5.  Single Premium Endowment Plan (817)
  6.  New Jeevan Nidhi (818)
  7.  New Money Back Plan (20 years) (820)
  8.  New Money Back Plan (25 years) (821)
  9.  Anmol Jeevan – II (822)
  10.  Amulya Jeevan – II (823)
  11.  eTerm (825)
  12.  Varishtha Pension Bima Yojana (828)