LIC Online Premium Calculator is available at https://licindia.in/ for you to generate an instant illustration for Premium. LIC premium calculator is a tool, which gives you an approximate amount of the premium as per the policy chosen by you and the tool takes into consideration the policy you wish to purchase and other details associated with it, like the name of the policy, age of the policyholder, the sum assured, the tenure of the policy, the premium paying frequency, and riders (if any).
The entire form can be filled in in a minute or so and once all of the required information has been entered, the tool will give you an approximate figure of how much premium you will have to pay. It is important to note that the figure generated by the LIC Online Premium Calculator is only an approximation and the insurance company could undertake further background checks which may increase or decrease the figure displayed by the tool.
The LIC of India has a LIC calculator to calculate the premium for life insurance policies and it is made available on the official website. The premium payment to be made for each policy will depend upon the kind of policy you are purchasing. Even the credentials of an individual can determine the amount of money that will have to be paid towards premiums. Younger and healthier customers usually avail lower premiums in comparison with their older counterparts.
|Name of the calculator||LIC Amount Calculator|
|Title||LIOC Calculator calculates the total amount of premium|
|Subject||Life Insurance Corporation of India provided the LIC Online Premium Calculator|
|LIC Online Premium Calculator||https://ebiz.licindia.in/|
To know how much premium you will have to pay towards your LIC policy, the LIC Online Premium Calculator is the best tool you can use. Usually, the LIC premium calculator includes the following fields where you have to provide all the information:
- Name of the plan
- Applicant’s age
- Sum Assured
- Frequency of the premiums
- Tenure of the Plan
- Riders (if any)
Here’s an example of the LIC Premium Calculator:
|Type of Plan||New Endowment Plan|
|Age of the Insured||42 years|
|Policy Tenure||15 years|
|Sum Assured||Rs.10 lakh|
The calculator will generate information in the following manner:
Once you have analyse the approximations of the LIC Online Premium Calculator, you can decide whether or not you want to go ahead and purchase the policy.
The life insurance premium is a one-time or recurring payment made by you towards your life insurance plan. A life insurance plan is valid only if you make payment of the premium on time and in accordance with the guidelines of the insurer. In general, you will have the option to select the frequency of payment of premiums such as single premium, yearly, half-yearly, quarterly, or monthly. A part of this premium is paid out as an assured sum when the policy’s benefits get triggered.