This tool is designed to estimate the potential payout at the end of a LIC Jeevan Anand policy term. It takes into account factors such as the policyholder’s age, the sum assured, the policy term, and anticipated bonus rates declared by the Life Insurance Corporation of India (LIC). As an example, an individual taking a policy with a sum assured of 5,00,000 for 25 years can use this calculation aid to project the maturity value based on different bonus declaration scenarios.
Such estimation instruments provide policyholders with clarity regarding the financial returns they can expect upon policy completion. This allows for better financial planning and assists in making informed decisions about long-term investments. Historically, these forecasting mechanisms have enhanced transparency within the insurance sector, empowering individuals to understand the potential benefits of their life insurance policies better.
