A tool designed for policyholders of the LIC’s Jeevan Anand Plan (Plan No. 149) helps estimate the maturity benefit receivable at the end of the policy term. This estimate typically factors in the sum assured, policy term, and bonus additions declared by the insurer. An example might involve inputting a sum assured of 10 lakhs, a policy term of 20 years, and assumed bonus rates to arrive at a projected maturity value.
Such tools offer valuable foresight into the potential returns from this whole life insurance plan, aiding financial planning. By providing a clear picture of the expected payout, individuals can make informed decisions about their long-term financial goals, including retirement planning and wealth creation. The plan’s historical performance and the insurer’s consistent bonus declarations add to its appeal. Planning tools streamline the otherwise complex calculations involved in determining the final benefit amount.