LIC Plan 133 Maturity Calculator – Jeevan Mitra (Triple Cover)
LIC Plan 133 Maturity Calculator
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LIC Plan 133 – Jeevan Mitra (Triple Cover) Overview
LIC Plan 133, also known as Jeevan Mitra (Triple Cover), is a life insurance plan that offers enhanced financial protection. This endowment assurance plan ensures a payout upon the policyholder’s death or maturity of the policy. Let’s explore its features and benefits.
Key Features of LIC Plan 133
- Premium Payments: You can pay premiums yearly, half-yearly, quarterly, monthly, or through salary deductions.
- Bonuses: This plan shares profits with policyholders. Simple Reversionary Bonuses are added annually, and a Final (Additional) Bonus may be given if the policy meets certain conditions.
- Death Benefit: In case of the policyholder’s death, the nominee receives three times the Sum Assured plus all accrued bonuses.
- Maturity Benefit: If the policyholder survives until the end of the policy term, they receive the Sum Assured plus all accrued bonuses.
- Supplementary Benefits: Additional protection can be added to the basic plan for an extra premium.
Benefits Breakdown
| Feature | Details |
| Premiums | Payable annually, semi-annually, quarterly, monthly, or via salary deductions. |
| Bonuses | Simple Reversionary Bonuses declared yearly, Final Bonus possible after certain conditions. |
| Death Benefit | 3x Sum Assured + accrued bonuses. |
| Maturity Benefit | Sum Assured + accrued bonuses. |
| Supplementary Benefits | Optional add-ons for extra protection. |
| Surrender Value | Available after 3 years. Guaranteed Surrender Value is 30% of premiums paid (excluding the first year). |
| Special Surrender Value | May be more than the Guaranteed Surrender Value, depending on policy duration and premium payment duration. |
Illustration and Examples
Here’s a simple example for a non-smoker male, aged 35, with a Sum Assured of Rs. 1,00,000, paying an annual premium of Rs. 5,453 for 25 years. You can calculate all LIC Plan using LIC Plan Calculator tool. Still We have provided barckdown keypoints LIC Plan 133. Here is below-
| End of Year | Total Premiums Paid | Death Benefit (Guaranteed) | Death Benefit (Scenario 1) | Death Benefit (Scenario 2) | Maturity Benefit (Guaranteed) | Maturity Benefit (Scenario 1) | Maturity Benefit (Scenario 2) |
| 1 | 5,453 | 3,00,000 | 3,02,100 | 3,05,700 | – | – | – |
| 10 | 54,530 | 3,00,000 | 3,21,000 | 3,57,000 | – | – | – |
| 20 | 109,060 | 3,00,000 | 3,56,000 | 4,52,000 | – | – | – |
| 25 | 136,325 | 3,00,000 | 3,69,500 | 4,89,500 | 1,00,000 | 1,69,500 | 2,89,500 |
FAQs
What is the premium payment frequency for LIC Plan 133?
You can pay premiums yearly, half-yearly, quarterly, monthly, or through salary deductions.
How are bonuses calculated in LIC Plan 133?
Bonuses are declared annually as Simple Reversionary Bonuses. A Final Bonus may be added if the policy meets certain conditions.
What is the death benefit under LIC Plan 133?
The nominee receives three times the Sum Assured plus all accrued bonuses.
What happens if I survive the policy term?
You receive the Sum Assured plus all accrued bonuses.
Can I surrender the policy before the term ends?
Yes, surrender value is available after 3 years. The guaranteed surrender value is 30% of premiums paid (excluding the first year).
Conclusion
Finally you got the exact calculation using lic plan 133 maturity calculator. LIC Plan 133 – Jeevan Mitra (Triple Cover) provides robust financial protection with flexible premium payments, bonuses, and substantial death and maturity benefits. It’s a reliable plan for securing your financial future and that of your loved ones.
