With the changing dimensions of living, making finances your top priority is crucial. While you invest your money via various modes, investing in sources that give you overall security is essential. Therefore, investing in insurance and programs that benefit in the future is mandatory for 360-degree protection.
The LIC Jeevan Lakshya 933 plan is one such plan that one should consider to secure your family’s overall well-being.
To help you calculate the right amount for investment in this plan as per your financial needs, the LIC Jeevan Lakshya 933 Premium And Maturity Calculator is helpful. This post will take you through the LIC Jeevan Lakshya 933 premium and maturity calculator and all the details around it.
Securing your retirement years and your family in case of any misfortune is essential. The LIC 933 plan calculator calculates the approximate premium amount for your desired returns. These details help you decide whether investing in this plan is beneficial.
Let’s understand all the details about the LIC Jeevan Lakshya 933 maturity calculator and the plan it is for.
LIC Jeevan Lakshya 933 Plan – Overview
To safeguard from the uncertainties of life, you need to have a solid insurance plan, and the LIC Jeevan Lakshya 933 plan helps you achieve just that. You can use the LIC Jeevan Lakshya 933 premium and maturity calculator to know an estimated premium amount and plan for your financial needs.
LIC Jeevan Lakshya 933 plan is a unique non-linked, participating, and individual life insurance plan. It generates a stable flow of income and gives annual benefits for your family in case of the poLICyholder’s untimely death. The plan also provides 10% of the total Sum Assured yearly to the nominee in the event of the poLICyholder’s death before maturity.
Additionally, the nominee is free from paying the remaining premiums. You get a lump sum amount with the poLICy and get death benefits before maturity if any uncertainty happens. The insured person will enjoy many benefits, which we will discuss in the blog further.
LIC Jeevan Lakshya 933 maturity calculator is essential here. It helps you calculate the amount you’ll need for investing, making your journey toward financial freedom easier.
You can feed a few details into the LIC Jeevan Lakshya 933 maturity calculator and get your results. You can decide what sum would be optimum for you per your financial goals once you know the estimated premium for your plan using the LIC Jeevan Lakshya 933 policy calculator.
Eligibility Criteria to Buy LIC Jeevan Lakshya Plan 933
Once you have the basic amount to invest through the LIC Jeevan Lakshya 933 maturity calculator, the following steps to get your plan are simple. But before getting into the process of how to get your LIC Jeevan Lakshya 933 poLICy, let’s examine the eligibility criteria for the plan:
|Sum Assured *||Rs. 1,00,000||Unlimited|
|Policy Term||13 years||25 years|
|Premium Payment Term||Total premium paying term minus 3 years|
|Entry Age (nearest birthday)||18 years||50 years|
|Maximum Maturity Age (nearest birthday)||65 years|
|Premium paying frequency||Annually, Half-yearly, Quarterly, Monthly|
You can use the Jeevan Lakshya 933 Calculator to provide the right amount for your investment and manage your goals. Different websites offer these services for different plans. With Jeevan Lakshya 933 Calculator, you can invest in the Jeevan Lakshya 933 plan and get all its benefits.
Benefits of LIC Jeevan Lakshya Plan 933
The Jeevan Lakshya 933 plan has multiple benefits as it offers protection and saving benefits, making the plan preferable. It helps you achieve your financial goal faster. The Jeevan Lakshya 933 Calculator allows you to enter your details and calculate your earnings through the plan.
Let’s look at the benefits of the LIC Jeevan Lakshya 933 Plan and why you should choose it.
1. Death benefits
The death benefit becomes active in the event of the policyholder’s untimely death before the policy matures, provided all the premiums have been paid.
This death benefit is also called “sum assured on death.” Additionally, it includes the sum total of the Simple Reversionary Bonus and Final Additional bonus.
The Sum Assured on Death is calculated as the sum total of:
- Annual income benefit, which is 10% of the Basic Sum Assured
- Assured Absolute amount, which is 110% of the Basic Sum Assured
- Final Additional Bonus and the simple reversionary bonus if included.
Things to note:
- The death benefits highlighted above should be at least 105% of all the premiums paid before the death.
- The Annual income benefit will be payable only from the date of the policy anniversary following the death date of the policyholder till the anniversary before the maturity date.
- The Assured Absolute amount is payable on the due date of maturity.
- All the abovementioned premiums exclude extra premiums, tax, and rider premiums.
The death benefit takes care of your financial goals even if you’re not there, as the nominee will get the benefits, and all the money will be given to your family members.
2. Maturity Benefits
The second benefit is the maturity benefit. The maturity benefit is the sum you get on the maturity of the plan. It is the basic sum assured, the vested simple reversionary bonus and final addition bonus are also assured (if any) to the person.
The maturity benefits are paid as the lump sum amount at the successful survival of the policy, i.e., at the end of the policy term if all the premiums are clear.
3. Participation Profits
One of the best parts about LIC Jeevan Lakshya’s 933 plan is that they invest your money in big corporations, and the profits these Corporations earn will be shared with the policyholder. This profit comes in the form of Simple Reversionary Bonuses.
But to have this, the policy needs to be in full force, and if it is, it won’t matter whether the individual lives till the due date of maturity. The benefits are added as a bonus irrespectively. The money will add up and will be returned to the nominee on the maturity due date.
Suppose the policyholder fails to pay the premiums on the due date (Exception for the poLICyholder’s death under the enforced policy). In that case, the poLICy no longer participates in the future profits. This is still the same even if the policy has acquired the paid-up value. The Final Additional Bonus shall not be payable for the reduced paid-up policies.
4. Rider benefits in LIC Jeevan Lakshya Plan
- Accidental Death and Disability Benefit Rider (UIN: 512B209V02)
The rider options are available for anyone above 18 years of age buying the LIC Jeevan Lakshya 933 plan. You can pay an additional amount to add the rider benefits to your base plan. It increases the additional death claim amount in case of accidental deaths.
For cases where an accident causes permanent damage, all the following premiums for the base plan and the rider are waived off. Additionally, the sum assured is paid in monthly installments for the next ten years.
- Term Assurance Rider benefit (UIN: 512B210V02)
With this rider, you can have an additional death claim amount equivalent to the Term Rider Sum that is Assured to the nominee in the instance of the poLICyholder’s death during the plan term.
However, one thing to note is that if the poLICyholder survives the whole poLICy term, he cannot claim any maturity value. Still, it is advisable to add this benefit to have extra protection in case of any misfortune.
The LIC Jeevan Lakshya Maturity Calculator makes it easy to calculate the amount and get all your policy details. Entering essential credentials will help you get the exact value.
Read more: LIC Arogya Rakshak Plan Premium Calculator
How does LIC Jeevan Lakshya 933 Maturity Calculator work?
The LIC Jeevan Lakshya 933 maturity calculator is a dynamic tool that helps to find the details about the premium for the Jeevan Lakshya 933 plan. This is essential information about any policy, and the Jeevan Lakshya 933 calculator helps us with it.
Here are all the things that you can find out using the LIC 933 plan calculator:
1. Accumulated Bonuses
The LIC Jeevan Lakshya 933 poLICy calculator finds out the extra sum that gets added to the poLICy after every year.
2. Guaranteed Surrender Value
This is the amount guaranteed to you if you voluntarily terminate your poLICy before maturity. The LIC Jeevan Lakshya 933 maturity calculator helps you determine this amount to make an informed decision.
3. Current Surrender Value
A lock-in period exists before the poLICy collects a surrender value. Certain charges are cut from your estimated amount if you plan to dissolve the poLICy before this lock-in period. Using the LIC Jeevan Lakshya 933 maturity calculator, you can also calculate this amount.
4. Loan Availability
The LIC Jeevan Lakshya 933 maturity calculator also acts as the loan calculator. You can check the limit of the loan you can score with your current LIC poLICy.
5. Paid-up Value
The LIC 933 plan calculator calculates this sum by multiplying the sum assured with the ratio of the premiums already paid to the premiums payable.
6. Projected Maturity value
The most fundamental work of a LIC Jeevan Lakshya plan calculator is to find out the projected maturity value for your LIC plan.
How to use LIC Jeevan Lakshya 933 Maturity Calculator?
You can use a Jeevan Lakshya 933 Calculator by following these steps:
- Enter your details: Date of birth, gender, Date of poLICy commencement, and last premium date.
- Enter ‘Submit’, and you will be directed to the ‘Policy Result’ section.
By entering these details, you can calculate your estimated premium and final value using the LIC 933 plan calculator.
There are also details about the Rider benefits which can be found out using the LIC Jeevan Lakshya 933 maturity calculator.
LIC Jeevan Lakshya 933 Maturity Calculator – FAQs
What is the LIC Jeevan Lakshya 933 calculator?
Ans. The LIC Jeevan Lakshya 933 calculator is a tool that helps you calculate an estimated amount that you need to pay as a premium for your LIC Jeevan Lakshya plan.
How does Jeevan Lakshya 933 calculator work to give you the final sum assured amount for your plan?
Ans. The LIC Jeevan Lakshya Maturity Calculator typically takes the following calculation:
The amount is calculated as seven times your annual premiums, or sometimes it can be a sum of 110% of the basic sum assured.
How to calculate the LIC policy maturity amount using the LIC 933 plan calculator?
Ans. The LIC 933 plan calculator gives you the value:
Maturity Amount= Basic Sum Assured + Accumulated Reversionary bonus + Final Additional Bonus.
How can I track my LIC policy maturity date and amount? Can I use the LIC Jeevan Lakshya 933 maturity calculator for this?
Ans. You can keep track of your policy by contacting your agent or visiting your nearest offline LIC branch. The LIC Jeevan Lakshya 933 premium and maturity calculator will not give this information.
How can I calculate the present value of my LIC policy using the LIC Jeevan Lakshya 933 policy calculator?
Ans. You cannot use the LIC Jeevan Lakshya plan calculator to find out the current value of your plan. However, you can apply the following formula to calculate an estimated amount for your plan:
Guaranteed Surrender Value = 30% of the Total premiums paid.
A point to note here is that the first premium and the additional premiums for rider benefits are not included.
The LIC Jeevan Lakshya 933 maturity calculator is one of the most essential tools for buying the LIC Jeevan Lakshya 933 plan. You can calculate the premium and sum assured as per your financial goals using the LIC Jeevan Lakshya plan calculator. Therefore, before deciding on buying the plan, make sure to check out the LIC 933 plan calculator.