Lic Bonus Rate Calculator

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LIC Maturity & Bonus Calculator

Annual Reversionary Bonus
One-time bonus at maturity

Estimated Maturity Results

Basic Sum Assured:

Total Reversionary Bonus:

Final Additional Bonus (FAB):

Total Estimated Maturity:

function calculateLICBonus() { var sumAssured = parseFloat(document.getElementById('sumAssured').value); var term = parseFloat(document.getElementById('policyTerm').value); var bonusRate = parseFloat(document.getElementById('bonusRate').value); var fabRate = parseFloat(document.getElementById('fabRate').value); if (isNaN(sumAssured) || isNaN(term) || isNaN(bonusRate) || isNaN(fabRate)) { alert("Please enter valid numbers in all fields."); return; } // LIC Bonus Calculation Logic: // Bonus = (Bonus Rate / 1000) * Sum Assured * Policy Term var totalReversionaryBonus = (bonusRate / 1000) * sumAssured * term; // Final Additional Bonus (FAB) Calculation: // FAB = (FAB Rate / 1000) * Sum Assured var totalFAB = (fabRate / 1000) * sumAssured; // Total Maturity Value = Sum Assured + Total Reversionary Bonus + FAB var totalMaturity = sumAssured + totalReversionaryBonus + totalFAB; // Displaying results document.getElementById('resSumAssured').innerText = "₹ " + sumAssured.toLocaleString('en-IN'); document.getElementById('resTotalBonus').innerText = "₹ " + totalReversionaryBonus.toLocaleString('en-IN'); document.getElementById('resFAB').innerText = "₹ " + totalFAB.toLocaleString('en-IN'); document.getElementById('resTotalMaturity').innerText = "₹ " + totalMaturity.toLocaleString('en-IN'); document.getElementById('resultsArea').style.display = 'block'; }

Understanding LIC Bonus Rates

Life Insurance Corporation of India (LIC) shares its profits with policyholders in the form of bonuses. If you have an "With-Profit" policy, such as Jeevan Anand or Jeevan Labh, your policy accrues bonuses over the term of the insurance.

Types of LIC Bonuses

  • Simple Reversionary Bonus: This is declared annually per ₹1000 of the Sum Assured. Once declared, it becomes a guaranteed addition to the policy, payable at maturity or death.
  • Final Additional Bonus (FAB): This is a one-time terminal bonus paid by LIC for policies that have remained in force for a long duration (typically 15 years or more).
  • Loyalty Addition: Similar to FAB, these are usually paid in certain plans instead of reversionary bonuses.

How the Calculation Works

The calculation is based on the "per thousand" rule. For example, if LIC declares a bonus of ₹45 per thousand for a policy with a Sum Assured of ₹5,00,000 for 20 years:

Annual Bonus = (45 / 1,000) * 5,00,000 = ₹22,500
Total Bonus for 20 Years = 22,500 * 20 = ₹4,50,000

Factors Affecting Your Maturity Value

  1. Policy Term: Longer terms generally attract higher bonus rates and FAB rates.
  2. Sum Assured: High Sum Assured policies (e.g., above ₹5 Lakhs) often receive higher bonus rates.
  3. Plan Type: Different LIC plans have different profit-sharing ratios. Endowment plans usually have different rates compared to Money Back plans.

Note: The bonus rates used in this calculator are based on historical data and LIC's annual declarations. Actual maturity amounts may vary based on future performance and LIC's valuation results.

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