LIC Endowment Plan Calculator
LIC Endowment Plan Calculator
LIC Insurance Plans
LIC Endowment Plan Calculator – Calculate Your Returns Easily
Introduction
You paid LIC premiums for years — but still don’t know how much money you’ll actually get back. Sounds familiar, right?
Most people buy LIC policies without checking real numbers. They trust the agent, sign the form, and just keep paying. Then at maturity — surprise! The amount feels much smaller than expected.
That’s exactly why the LIC Endowment Plan Calculator exists.
It shows your maturity amount, premium cost, and bonus — before you commit. No guessing. No surprises. Just clear numbers.
Let me walk you through everything — how it works, real examples, and which LIC plans give best returns. By end of this, you’ll calculate like a pro.
What Is a LIC Endowment Plan?
Okay, let me explain this simply.
A LIC Endowment Plan combines two things — life cover and savings. You pay premiums for a fixed number of years. At maturity, LIC pays back your Sum Assured plus accumulated bonus.
If something happens to you during the policy term — your nominee gets the Death Benefit. That’s the protection part.
Think of it like a piggy bank with life insurance wrapped around it.
Unlike term insurance — endowment plans return money at maturity. Term plans give nothing back if you survive. That’s the big difference.
So endowment suits people who want guaranteed returns plus life cover — both together.
What Is the LIC Endowment Plan Calculator?
Simply put — it’s an online tool.
You enter basic details like your age, sum assured, and policy term. It instantly shows your annual premium, monthly premium, and estimated maturity value.
No manual formula needed. No agent required.
You can find this calculator directly on LIC’s official website — completely free. Third-party financial websites also offer similar tools.
Why use it? Because buying a policy without calculating first is like booking a flight without checking the price. You might overpay — or pick the wrong plan entirely.
The LIC Endowment Plan Calculator saves you from both mistakes.
How Does the LIC Endowment Plan Calculator Work?
Step-by-Step Guide To Use the Calculator
Using it is super easy. Here’s exactly what you do:
- Step 1 – Open LIC’s official website or any trusted financial calculator site.
- Step 2 – Select your endowment plan — like LIC New Endowment Plan 914 or Jeevan Anand.
- Step 3 – Enter these details: your age at entry, Sum Assured amount (minimum ₹1 lakh), Policy Term (10 to 35 years), and Premium Payment Term.
- Step 4 – Hit calculate. Within seconds you see annual premium, monthly premium, estimated maturity value, and approximate bonus accrual.
That’s it. Four steps — full clarity.
Formula Behind the Calculator
Want to know what math runs behind the scenes? Here it is:
Let me break each part down:
- Sum Assured – Base amount LIC guarantees at maturity
- Simple Reversionary Bonus – Declared yearly by LIC per ₹1000 sum assured
- Final Additional Bonus (FAB) – Extra bonus paid only at maturity or death claim
For example — if LIC declares ₹45 bonus per ₹1000 sum assured yearly, and your sum assured is ₹10 lakh — your annual bonus adds ₹45,000 every year.
Over 20 years? That’s ₹9 lakh in bonus alone — on top of your sum assured.
LIC Endowment Plan Calculator – Real Example
Let me show you real numbers. This makes everything click instantly.
Profile: Age 30 years | Sum Assured ₹10,00,000 | Policy Term 20 years | Plan: LIC New Endowment Plan 914
| Parameter | Amount |
|---|---|
| Annual Premium (approx.) | ₹52,000 |
| Total Premium Paid (20 yrs) | ₹10,40,000 |
| Simple Reversionary Bonus | ₹9,00,000 |
| Final Additional Bonus (FAB) | ₹1,20,000 |
| Estimated Maturity Value | ₹20,20,000 |
So you invest roughly ₹10.4 lakh — and get back around ₹20.2 lakh.
That’s nearly double your investment over 20 years. Not bad for a low-risk savings plan, right?
Numbers may vary slightly based on LIC’s declared bonus rate each year. But this gives a strong ballpark figure.
Popular LIC Endowment Plans You Can Calculate
LIC New Endowment Plan 914
This is LIC’s most basic endowment option. Policy term ranges 12–35 years. Entry age starts from 8 years. It suits first-time buyers looking for simple savings plus cover.
LIC Jeevan Anand Plan 915
My personal favourite — and most agents recommend this too. It offers lifelong cover even after premium payment stops. Maturity benefit gets paid — yet life cover continues till death. Double value.
LIC Jeevan Lakshya Plan 933
Best suited for family financial goals — like children’s education or marriage. Premium payment term is shorter than policy term. Family gets annual income if policyholder dies during the term.
LIC Jeevan Labh Plan 936
Great for limited premium payment. You pay for fewer years — but coverage continues longer. Popular among salaried people who want early financial freedom from premium payments.
Key Factors That Affect Your LIC Endowment Calculator Results
1. Age at Entry
Younger age means lower premium. A 25-year-old pays significantly less than a 40-year-old for same sum assured. Always start early.
2. Policy Term
Longer terms accumulate more bonus. A 25-year policy builds far more bonus than a 15-year one.
3. Sum Assured Amount
Higher sum assured means higher premium — but also higher maturity returns. Choose based on your financial goal.
4. LIC Bonus Rate 2024
LIC declares bonus rates annually. Rates fluctuate slightly year to year. Current simple reversionary bonus for endowment plans hovers around ₹40–50 per ₹1000 sum assured.
5. GST on LIC Premium
GST applies on your premium — 4.5% for first year, 2.25% from second year onwards. Calculator tools usually include this automatically.
6. Premium Payment Frequency
Monthly payment costs slightly more than annual payment due to instalment loading charges.
Tax Benefits You Get With LIC Endowment Plans
This is where LIC endowment plans really shine — beyond just returns.
Section 80C Deduction
Premium paid qualifies for deduction up to ₹1.5 lakh yearly under Section 80C. This directly reduces your taxable income. Smart tax planning, honestly.
Section 10(10D) – Tax-Free Maturity
Maturity amount received is completely tax-free under Section 10(10D) — provided premium doesn’t exceed 10% of sum assured. Most standard LIC endowment plans easily qualify.
So you save tax while paying premiums — AND receive tax-free returns at maturity. Double tax advantage.
That’s something PPF and FD can’t always match together.
LIC Endowment Plan vs Other Investment Options
Let me put this in a simple comparison table for you:
| Feature | LIC Endowment | PPF | Fixed Deposit | Mutual Fund |
|---|---|---|---|---|
| Life Cover | ✅ Yes | ❌ No | ❌ No | ❌ No |
| Guaranteed Returns | ✅ Yes | ✅ Yes | ✅ Yes | ❌ No |
| Tax Benefit (80C) | ✅ Yes | ✅ Yes | ✅ (5yr FD) | ✅ (ELSS) |
| Tax-Free Maturity | ✅ Yes | ✅ Yes | ❌ No | ❌ No |
| Loan Facility | ✅ Yes | ✅ Partial | ❌ No | ❌ No |
| Returns (approx.) | 5–6% | 7.1% | 6–7% | 10–12% |
| Risk Level | Very Low | Very Low | Very Low | Medium-High |
Mutual funds give higher returns — but carry market risk. LIC endowment gives moderate returns with zero risk plus life cover.
Choose based on your priority — safety or growth.
Tips To Get Maximum Returns From Your LIC Endowment Plan
Every year you delay costs more premium. Starting at 25 vs 35 makes a massive difference in total outgo.
More years mean more bonus accumulation. A 25-year term beats a 15-year term — both in total bonus and maturity value.
Lapsed policies lose bonus benefits. If you miss premiums — revive quickly. LIC allows revival within 5 years with back premiums plus interest.
Run numbers on the LIC Endowment Plan Calculator before signing anything. Compare plans side by side. Choose what fits your budget and goal.
Annual premium saves you instalment loading charges. Over 20 years — this saving adds up to a decent amount.
Conclusion
So here’s the bottom line — the LIC Endowment Plan Calculator is honestly one of the smartest tools you can use before buying any LIC policy.
It removes guesswork completely. You see exact premium, maturity amount, and bonus estimate — all in seconds.
LIC endowment plans aren’t the highest-returning investment out there. But for guaranteed returns, life cover, tax benefits under Section 80C and Section 10(10D) — they remain one of India’s most trusted financial tools.
My advice? Don’t buy blindly. Run your numbers first. Compare plans like Jeevan Anand, Jeevan Labh, and New Endowment Plan 914 using the calculator.
Pick what matches your age, goal, and budget. Start early, stay consistent, never lapse — and LIC will take care of rest.
Calculate smart. Invest smarter.