LIC Plan 836 Maturity Calculator [UPDATED JULY 2024]

Are you struggling to calculate the LIC Plan 836 Maturity Value? No, worries! LIC Plan 836 Maturity Calculator will help you determine its Maturity value.

As we know planning for the future is essential. Especially when it comes to financial security. Life Insurance Corporation (LIC) provides different Plans, among them plan 836 also popular. This plan plays a vital role both for your protection and savings. However, understanding the maturity value of your policy can be a bit tricky. This is where the LIC Plan 836 Maturity Calculator comes into play.

In this blog post, I will share everything you need to know about LIC Plan 836. On the other side, I will guide you on how to use the maturity calculator to plan your finances better.

Let’s get started…

What is LIC Plan 836?

LIC Plan 836, also known as the LIC New Endowment Plan, is a traditional endowment policy. It combines the benefits of insurance coverage and savings. Here are the key features of LIC Plan 836:

• Eligibility: Individuals between the ages of 8 and 55 years can apply for this plan.
• Policy Term: The policy term ranges from 12 to 20 years.
• Premium Payment Options: Premiums can paid yearly, half-yearly, quarterly, or monthly.
• Sum Assured: The minimum sum assured is ₹1,00,000, with no maximum limit.
• Benefits: This plan offers three different things at the time of maturity. It includes the A. sum assured on maturity. B. Simple reversionary bonuses, and C. A final additional bonus (if declared).

This plan offers financial protection for your family if you pass away unexpectedly. It also helps you build up a substantial amount of money over the policy term.

Why Use a Maturity Calculator?

A maturity calculator is an essential tool for policyholders. It helps estimate the maturity value of the policy. That includes the sum assured and any accrued bonuses. Here’s why you should use a maturity calculator:

• Accurate Estimates: It provides a clear idea of the amount you will receive at the end of the policy term.
• Easy Planning: Knowing your maturity value helps you plan your finances better.
• Time-Saving: The calculator is quick and simple to use, saving you time and effort.
• Financial Insight: It shows how your investments grow over time. This helps you make better financial decisions.

How to Use the LIC Plan 836 Maturity Calculator

Using our LIC Plan 836 Maturity Calculator is straightforward. Here’s a step-by-step guide:

1. Enter Policy Term: Input the number of years for which you want to hold the policy. For example, 15 years.
2. Enter Age at Entry: Provide your age when the policy starts. For example, 30 years.
3. Enter Sum Assured: Input the amount you want to be assured. For instance, ₹5,00,000.
4. Select Payment Frequency: Choose how often you want to pay premiums- yearly, half-yearly, quarterly, or monthly.
5. Enter Premium Amount: Provide the amount you will pay as a premium. For example, ₹30,000 per year.
6. Enter Bonus Rates: Input the rates for the Simple Reversionary Bonus and Final Additional Bonus. Check your policy documents or the LIC website for these rates.

Example Calculation of LIC Plan 836:

Let’s take an example to understand how the calculator works.

• Policy Term: 15 years
• Age at Entry: 30 years
• Sum Assured: ₹5,00,000
• Premium Payment Frequency: Yearly
• Premium Amount: ₹30,000 per year
• Bonus Rates: Simple Reversionary Bonus: 4%, Final Additional Bonus: 2%

After entering these details, the calculator will show the maturity amount. This includes the sum assured and the bonuses earned during the policy term.

Key Points to Remember

Here’s a below summary of important details:

Other Related Calculators

• LIC Plan 133 Maturity Calculator
• LIC Plan 178 Maturity Calculator
• LIC Child Plan Calculator [Plan No. 934 & 932]
• LIC Jeevan Saral Plan 165 Maturity Calculator
• LIC Plan 815 Maturity Calculator

FAQs

What is the minimum policy term for LIC Plan 836? 

The minimum policy term is 12 years.

Can I take a loan against LIC Plan 836? 

Yes, loans are available after paying premiums for at least three years.

How are bonuses calculated? 

Bonuses are declared annually based on the corporation’s performance and are added to the policy.

What happens if I surrender my policy early?

You will get a surrender value. This could be the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV). The type depends on how long you’ve had the policy and your premium payments.

Is the maturity amount guaranteed? 

The sum assured is guaranteed. Bonuses depend on the corporation’s performance and are not guaranteed.

Can I change the premium payment frequency during the policy term?

Yes, you can change the premium payment frequency. Just contact LIC and follow their steps.

What is the Final Additional Bonus (FAB)?

FAB is an additional bonus that LIC may declare in the final year of the policy term. It is based on the sum assured and the corporation’s performance.

Conclusion

The LIC Plan 836 Maturity Calculator is a smart way to plan finances. It gives accurate estimates of your maturity value. This helps you make better decisions about your future. This tool is quick, easy to use, and essential for anyone investing in LIC Plan 836.

Understanding the LIC Plan 836 Maturity Calculator helps you plan your finances better. It ensures a solid financial future. Remember, planning is crucial for financial security. Use the LIC Plan 836 Maturity Calculator to stay on top of your investments and make the most of your policy.