Estimate premium, guaranteed additions, maturity value, and death benefits for LIC’s Amritbaal (Non-Par, Non-Linked, Children’s plan).
Policy Details
A) Plan & Child Basics
B) Premium Payment Option
C) Death Sum Assured (DSA) Option
D) Basic Sum Assured
E) Risk Commencement & Vesting
Risk Commencement: If child’s entry age is less than 8 years, risk starts at earlier of 2 years from start or policy anniversary after attaining 8 years. Death before risk start: Refund of premiums (base only), no interest.
Vesting: Policy vests in the child at age 18.
F) Optional Rider (Limited Premium Only)
YOUR PREMIUM (incl. GST, as applicable)
CALCULATION DETAILS
MATURITY DETAILS (Guaranteed)
Sum Assured on Maturity
Accrued Guaranteed Additions
Total Maturity (Guaranteed)
Settlement Option: Take maturity in instalments for 5/10/15 years (M/Q/H/Y). Minimum instalments: ₹5,000 (M), ₹15,000 (Q), ₹25,000 (H), ₹50,000 (Y). Interest rate: Annual effective rate ≥ 10-yr semi-annual G-Sec − 2% (e.g., 5.07% for May 1, 2024 – Apr 30, 2025).
BENEFITS PAYABLE TO NOMINEE
YEAR-WISE POLICY DETAILS
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Policy Year
Child’s Age
Premium (Modal)
Accrued GA (₹80/₹1,000/yr)
Cumulative GA
Death Benefit + GA
SURRENDER / PAID-UP / LOAN
Surrender:
• Limited Premium (Opt I/II): Surrender allowed after 1st policy year. GSV arises after 2 full premiums. Pay higher of GSV & SSV.
• Single Premium (Opt III/IV): GSV = 75% of SP in first 3 years, 90% thereafter.
Paid-up: After ≥1 full year premium; Death/Maturity Paid-up SA scale with Reduced GA.
Policy Loan:
• Limited: After 1st year → up to 90% SV (in-force) / 80% SV (paid-up).
• Single: After 3 months → up to 75% SV.
• Loan interest: 9.50% p.a. comp. HY (2024–25); 8.50% if female child and loan for education.
Grace: 30 days (Y/HY/Q), 15 days (Monthly). Revival: Within 5 years from FUP; interest 9.5% p.a. comp. HY (2024–25).
DISCLAIMERS
⚠️ IMPORTANT: ILLUSTRATIVE CALCULATIONS ONLY
• Premium calculations shown are APPROXIMATE and for illustration purposes only. LIC does not publish premium rate tables publicly. Actual premiums will vary based on LIC’s internal actuarial tables, underwriting factors, High Sum Assured rebates, and other variables not available in public documents.
• For accurate premium quotes, please contact LIC agents or visit LIC branch offices.
• Guaranteed plan: Benefits are fixed (no bonuses); Guaranteed Additions at ₹80/₹1,000 BSA per year for the whole term (in-force).
• Taxes: GST/other taxes are over & above premium; not considered for benefit calculations; rates may change.
• SSV subject to annual review per IRDAI master circular.
• This calculator is based on publicly available brochure information. Actual policy terms, conditions, and benefits may vary. Please refer to official policy document for exact terms.
• The creator of this calculator assumes no liability for decisions made based on these illustrative calculations.