How Can I Check My LIC Policy Maturity Amount?

How can I check my LIC policy maturity amount online?

How to Check LIC Policy Details Online?Step 1: Go to the official LIC website, fill in your credentials like username and password.Step 2: Login to your account and select the option ‘View Enrolled Policies’.Step 3: You will be directed to a page where you can see all the listed enrolled policies.More items….

How LIC maturity is calculated?

Sum Assured (A): = Rs. 5,00,000.Total Bonus Amount on Maturity (B): * = Rs. 1000.Maturity Amount (A+B): = Rs. 35,000.Period of Maturity = Dec, 2021.

How LIC money back policy maturity amount is calculated?

New Money Back plan – 20 years provides three money backs which are 20% of Sum Assured on completion of 5th, 10th & 15th year of policy and on completion of policy term (20 years) 40% of Sum Assured + Bonus + FAB is also provided as maturity amount.

Will I get bonus if I surrender my LIC policy?

Once you have surrendered your LIC policy, the insurer will provide you with a portion of money known as ‘accumulated bonus’ along with the premiums that you have paid for that period of time.

When can I withdraw LIC policy?

A policyholder can surrender his/her policy only after the completion of 3 years, i.e. the policy has to have been in force for a period of 3 years, at least. The surrender value provided by LIC is essentially 30% of the premiums that have been paid so far.

Is LIC maturity amount taxable?

When the premium paid on the policy does not exceed 10% of the sum assured for policies issued after 1 April 2012 and 20% of sum assured for policies issued before 1 April 2012– any amount received on maturity of a life insurance policy or amount received as bonus is fully exempt from Income Tax under Section 10(10D).

What is LIC maturity benefit?

Benefits: a) Maturity Benefit: Provided the policy is inforce, on surviving to the date of maturity, “Sum Assured on Maturity” shall be payable which is equal to the total amount of premiums paid during the term of the contract (excluding the taxes and extra premium, if any)

What is maturity amount?

Maturity value is the amount payable to an investor at the end of a debt instrument’s holding period (maturity date). For most bonds, the maturity value is the face amount of the bond. For some certificates of deposit (CD) and other investments, all of the interest is paid at maturity.

Which is the best LIC policy?

Top 6 LIC Plans In India 2020LIC PlansType of PlanPolicy Term (in years)LIC Jeevan AmarPure Term Insurance plan10 – 40LIC Tech Term PlanPure Term Insurance plan10 – 40LIC New Children’s money-back PlanTraditional money-back Child Plan25 years – Age at EntryLIC New Jeevan AnandEndowment Plan15 – 352 more rows

How do you calculate surrender value?

If you discontinue the policy, the amount you will get is called the special surrender value. This is arrived at by multiplying the total paid-up value (paid-up value + bonus) with a multiplier called the surrender value factor. The surrender value factor is a percentage of paid-up value plus bonus.

Which is better PPF or LIC?

The Public Provident Fund tends to provide a far superior rate of returns compared to an LIC policy like Jeevan Anand. What you should do is invest in the PPF and take a term policy online, which is cheaper and faster. In the term policy you do not get your money back, but, you are provided with solid insurance.

What is the maturity amount of LIC Jeevan Anand?

LIC New Jeevan Anand Premium IllustrationsYear of Maturity2044Age at Maturity50 yearsSum AssuredRs. 5 lakhsBonus AdditionsRs. 8 lakhs (approx)Total Amount PayableRs. 13 lakhs

How can I know my LIC policy no?

Step 1: Visit LIC’s official webpage for unclaimed and outstanding amount: https://www.licindia.in/Bottom-Links/Unclaimed-Policy-Dues. Step 2: Once you visit the site, you can see boxes for LIC policy number, name, date of birth, and PAN number.

How can I get my lic money after maturity?

Maturity Claims:It is our endeavour to settle your maturity claim on or before the due date. … Please submit your Discharged Receipt in Form No.3825 with original policy document atleast one month before the due date so that the payment is received before the due date of maturity claim.More items…

How can I withdraw my LIC policy online?

First keep in mind that as of now Surrendering LIC policy is not possible ONLINE. Also, you have to surrender the LIC policy at your servicing LIC branch ONLY. Servicing branch may be the branch where you purchased the policy.

How can I know my LIC policy name?

The procedure is simple. Visit the LIC Unclaimed Policy Status Link. Key the mandatory details like Policyholder’s name and date of birth. You will get the unclaimed and outstanding amounts of policyholders along with policy number.

How do I find my policy number?

Your declaration page might be the first place that you look for your policy number, but you typically don’t take the declaration page with you on-the-go. If you’re away from home and you don’t have access to this policy document, you can also find your policy number on your insurance ID cards.

How much money will I get if I surrender my LIC policy?

Guaranteed Surrender Value: The policy can be surrendered after it has been in force for at least 3 full years. The Guaranteed Surrender value will be equal to 30% of the total amount of premiums paid excluding the premiums for the first year and all the extra premiums and premiums for accident benefit / term rider.