LIC Whole Life Plan Calculator
| Calculation Point | Result |
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LIC Whole Life Plan Calculators
Explore LIC Whole Life plans and calculate premium, maturity amount, surrender value, survival benefit, pension, or policy benefits based on the selected plan.
LIC Jeevan Umang Plan 745
A whole life insurance plan that combines long-term protection with survival benefits and maturity-related policy benefits.
View Calculator →LIC Jeevan Utsav 771
A non-linked whole life savings plan that provides insurance protection and survival benefits through the selected income option.
View Calculator →LIC Jeevan Utsav Single Premium
A single-premium whole life savings plan offering insurance protection with benefits based on the applicable policy option.
View Calculator →LIC Whole Life Plan Calculator is a useful online tool for checking estimated benefits of LIC active whole life insurance plans in one place. Whole life plans are different from normal term or endowment policies because they generally provide long-term life cover up to a very high age, along with income, death benefit, maturity benefit, or guaranteed additions depending on the selected plan.
As per the official LIC Whole Life Plans page, the active plans listed under this category are LIC Jeevan Umang Plan No. 745, LIC Jeevan Utsav Plan No. 771, and LIC Jeevan Utsav Single Premium Plan No. 883.
This calculator helps estimate important values such as survival benefit, income benefit, guaranteed additions, death benefit, paid-up value, and maturity benefit. It is designed for easy understanding and quick comparison before studying the full brochure or contacting LIC for an exact quotation.
Table of Contents
Quick Overview Table
| Plan Name | Plan No. | UIN | Plan Type |
|---|---|---|---|
| LIC’s Jeevan Umang | 745 | 512N312V03 | Par, Non-Linked, Individual, Savings, Whole Life Insurance Plan |
| LIC’s Jeevan Utsav | 771 | 512N363V02 | Non-Par, Non-Linked, Individual, Savings, Whole Life Insurance Plan |
| LIC’s Jeevan Utsav Single Premium | 883 | 512N392V01 | Non-Par, Non-Linked, Individual, Savings, Whole Life Insurance Plan |
What Is LIC Whole Life Plan Calculator?
LIC Whole Life Plan Calculator is an estimate-based tool that helps calculate benefits related to LIC whole life insurance plans. Instead of checking each plan manually, the calculator allows selection of the plan name and then shows expected benefits based on basic inputs like age, sum assured, premium paying term, annual premium, policy year, and benefit option.
For LIC’s Jeevan Umang, the calculator mainly focuses on annual survival benefit, estimated death benefit, maturity benefit, bonus estimate, paid-up benefit, and policy term. LIC’s Jeevan Umang provides annual survival benefits from the end of the premium paying term and also gives a lump sum on maturity or death during the policy term.
For LIC’s Jeevan Utsav, the calculator focuses on regular income benefit, flexi income benefit, guaranteed additions, death benefit, and paid-up income. LIC’s Jeevan Utsav provides survival benefits either as Regular Income Benefit or Flexi Income Benefit, based on the option selected.
For LIC’s Jeevan Utsav Single Premium, the calculator estimates income benefit, guaranteed additions, death benefit, maturity benefit, and flexi income accumulation. This plan is a single premium plan where guaranteed additions accrue during the selected Guaranteed Addition Period.
Why Use This Calculator?
This calculator is useful because LIC whole life plans have different benefit structures. One plan may provide annual survival benefit, another may provide regular income, and another may work on single premium with maturity benefit.
The main purpose of the calculator is to make these benefits easier to understand. It helps compare all LIC whole life plans without opening separate calculators for each policy.
Calculator Highlights
| Highlight | Benefit |
|---|---|
| All Whole Life Plans in One Tool | Covers Jeevan Umang, Jeevan Utsav, and Jeevan Utsav Single Premium |
| Simple Inputs | Age, sum assured, premium, term, and policy year are enough for basic estimation |
| Plan Information in Header | Shows plan name, launch status, plan type, UIN, and withdrawal status |
| Benefit-Based Results | Shows survival benefit, income benefit, death benefit, maturity benefit, and guaranteed additions |
| Regular and Flexi Income Option | Useful for Jeevan Utsav and Jeevan Utsav Single Premium |
| Paid-up Estimate | Helps understand reduced benefits if full premiums are not paid |
| Easy Comparison | Helps compare different whole life plans quickly |
| Mobile Friendly | Compact layout for mobile, tablet, and desktop |
| Reset Button | Clears inputs and starts a fresh calculation |
| Light Design | Simple colors and easy-to-read layout |
Why This Calculator Is Different
Many online insurance calculators only show premium or maturity amount. This LIC Whole Life Plan Calculator is different because it focuses on plan-wise benefit logic. It does not treat all plans in the same way.
LIC’s Jeevan Umang has an 8% annual survival benefit based on Basic Sum Assured after the premium paying term. LIC’s Jeevan Utsav has 10% income benefit and guaranteed additions during the premium paying term. LIC’s Jeevan Utsav Single Premium has 10% income benefit, guaranteed additions, and maturity benefit based on the plan rules.
Because the calculator uses different formulas for different plans, it gives a more practical plan-wise estimate than a simple one-formula calculator.
Plans Covered in This Calculator
LIC Jeevan Umang Plan 745
LIC Jeevan Umang Plan-745 is a participating whole life insurance plan. It combines protection and income benefits. The plan provides annual survival benefit after the premium paying term and lump sum payment on maturity or death.
The minimum Basic Sum Assured under this plan is ₹2,00,000, and the premium paying term options are 15, 20, 25, and 30 years. The policy term is calculated as 100 minus age at entry.
The most important formula in this plan is:
Annual Survival Benefit = 8% × Basic Sum Assured
For example, if the Basic Sum Assured is ₹10,00,000, the annual survival benefit will be ₹80,000 after the premium paying term, subject to plan conditions.
LIC Jeevan Utsav Plan 771
LIC’s Jeevan Utsav is a non-participating, non-linked whole life savings plan. It provides death protection and survival benefits through Regular Income Benefit or Flexi Income Benefit. Since it is a non-par product, the benefits payable on death or survival are guaranteed and fixed as per the plan rules.
The premium paying term is available from 5 years to 16 years. The minimum Basic Sum Assured is ₹5,00,000.
The main income formula is:
Annual Income Benefit = 10% × Basic Sum Assured
The plan also provides Guaranteed Additions during the premium paying term.
LIC’s Jeevan Utsav Single Premium Plan 883
LIC’s Jeevan Utsav Single Premium is a single premium whole life plan. It provides Regular Income Benefit or Flexi Income Benefit, guaranteed additions during the Guaranteed Addition Period, death benefit, and maturity benefit.
The Guaranteed Addition Period can be selected from 7 years to 17 years. The minimum Basic Sum Assured is ₹5,00,000, and the policy term is 100 minus age at entry.
The plan gives Guaranteed Additions at ₹40 per ₹1,000 Basic Sum Assured during the Guaranteed Addition Period.
How to Use LIC Whole Life Plan Calculator
Follow these steps:
- Select the LIC whole life plan from the dropdown.
- Enter age at entry.
- Enter Basic Sum Assured.
- Choose Premium Paying Term or Guaranteed Addition Period, depending on the plan.
- Enter annual premium or single premium amount.
- Select Regular Income Benefit or Flexi Income Benefit where available.
- Enter completed policy year.
- Enter premiums paid years for regular premium plans.
- Add bonus rate if calculating LIC Jeevan Umang.
- Press the Calculate button.
- Check the result section for survival benefit, income benefit, death benefit, maturity benefit, and other values.
- Use the Reset button to start again.
Real Calculation Example
Here is a simple example for LIC’s Jeevan Umang.
| Input | Value |
|---|---|
| Plan | LIC’s Jeevan Umang |
| Age at Entry | 35 years |
| Basic Sum Assured | ₹10,00,000 |
| Premium Paying Term | 20 years |
| Annual Premium | ₹50,000 |
| Completed Policy Year | 25 years |
| Bonus Rate Assumed | ₹40 per ₹1,000 BSA |
Step 1: Policy Term
LIC’s Jeevan Umang policy term is:
100 − Age at Entry
So,
100 − 35 = 65 years
The policy term will be 65 years.
Step 2: Annual Survival Benefit
LIC’s Jeevan Umang provides survival benefit equal to 8% of Basic Sum Assured after the premium paying term.
8% × ₹10,00,000 = ₹80,000
So, the estimated annual survival benefit is ₹80,000.
Step 3: Estimated Bonus
Assumed bonus rate = ₹40 per ₹1,000 Basic Sum Assured
Bonus = ₹10,00,000 ÷ 1,000 × 40 × 25
Bonus = 1,000 × 40 × 25 = ₹10,00,000
This is only an assumed value. Actual bonus depends on LIC’s declaration because Jeevan Umang is a participating plan.
Step 4: Estimated Death Benefit
For LIC’s Jeevan Umang, Sum Assured on Death is higher of Basic Sum Assured or 7 times annualized premium. The death benefit cannot be less than 105% of total premiums paid.
Basic Sum Assured = ₹10,00,000
7 × Annual Premium = ₹3,50,000
Higher value = ₹10,00,000
Estimated death benefit:
₹10,00,000 + ₹10,00,000 assumed bonus = ₹20,00,000
So, in this example, estimated death benefit is ₹20,00,000, subject to actual bonus and policy conditions.
Example for LIC’s Jeevan Utsav
| Input | Value |
|---|---|
| Plan | LIC’s Jeevan Utsav |
| Basic Sum Assured | ₹10,00,000 |
| Premium Paying Term | 10 years |
| Benefit Option | Regular Income Benefit |
| Annual Premium | ₹80,000 |
| Completed Policy Year | 13 years |
Annual Income Benefit:
10% × ₹10,00,000 = ₹1,00,000
Guaranteed Addition per year:
₹10,00,000 ÷ 1,000 × 40 = ₹40,000
Guaranteed Addition for 10 years:
₹40,000 × 10 = ₹4,00,000
This example shows how Jeevan Utsav can provide regular income after the defined waiting period and guaranteed additions during the premium paying term.
Example for LIC’s Jeevan Utsav Single Premium
| Input | Value |
|---|---|
| Plan | LIC’s Jeevan Utsav Single Premium |
| Basic Sum Assured | ₹10,00,000 |
| Guaranteed Addition Period | 10 years |
| Single Premium | ₹6,00,000 |
| Benefit Option | Regular Income Benefit |
Annual Income Benefit:
10% × ₹10,00,000 = ₹1,00,000
Guaranteed Addition per year:
₹10,00,000 ÷ 1,000 × 40 = ₹40,000
Total Guaranteed Addition for 10 years:
₹40,000 × 10 = ₹4,00,000
For death and maturity benefit, the plan uses the higher of Basic Sum Assured or 1.25 times Tabular Single Premium, along with accrued Guaranteed Additions, as per brochure conditions.
Important Benefits Calculated by This Tool
Survival Benefit
Survival benefit means the amount payable while the life assured survives during the policy period. In Jeevan Umang, it is 8% of Basic Sum Assured after the premium paying term. In Jeevan Utsav and Jeevan Utsav Single Premium, income benefit is generally 10% of Basic Sum Assured as per plan rules.
Death Benefit
Death benefit is the amount payable to the nominee if the life assured dies during the policy term, subject to policy conditions. Jeevan Umang and Jeevan Utsav use the higher of Basic Sum Assured or 7 times annualized premium for Sum Assured on Death.
For Jeevan Utsav Single Premium, Sum Assured on Death is higher of Basic Sum Assured or 1.25 times Tabular Single Premium.
Guaranteed Additions
Guaranteed additions are available in LIC’s Jeevan Utsav and LIC’s Jeevan Utsav Single Premium. In Jeevan Utsav Single Premium, Guaranteed Additions accrue at ₹40 per ₹1,000 Basic Sum Assured during the Guaranteed Addition Period.
Maturity Benefit
Maturity benefit differs by plan. LIC’s Jeevan Umang pays Sum Assured on Maturity equal to Basic Sum Assured along with vested bonus and Final Additional Bonus, if applicable. LIC’s Jeevan Utsav Single Premium also has a maturity benefit at the end of the policy term.
Flexi Income Benefit
Flexi Income Benefit is available in Jeevan Utsav and Jeevan Utsav Single Premium. Under this option, income can be deferred and accumulated. In Jeevan Utsav Single Premium, deferred Flexi Income Benefit accumulates at 5.5% per annum, compounded yearly for completed months, and a maximum of 75% of accumulated value can be withdrawn once in a policy year.
Who Can Use This Calculator?
This calculator is suitable for people who want to understand LIC whole life plan benefits before buying or comparing a policy. It is useful for checking how much income may be received after the premium paying term, how guaranteed additions can grow, and how death or maturity benefits may be estimated.
It is also useful for existing policyholders who want a rough estimate of benefits based on Basic Sum Assured, policy year, and premiums paid.
Important Note
This calculator is an educational benefit estimator. It should not be treated as LIC official premium quotation tool. Final premium, tax, rider premium, underwriting decision, surrender value, loan amount, and actual bonus may vary according to LIC rules, policy status, age, premium mode, medical underwriting, and official premium tables.
For exact premium and final benefit illustration, LIC branch, licensed LIC agent, or official LIC quotation should be checked.
Conclusion
LIC Whole Life Plan Calculator makes LIC whole life plans easier to understand by bringing Jeevan Umang, Jeevan Utsav, and Jeevan Utsav Single Premium into one simple tool. It helps estimate survival benefit, income benefit, guaranteed additions, death benefit, maturity benefit, paid-up value, and flexi income in a clear way.
The biggest advantage of this calculator is that it does not use one common formula for all plans. Each plan has different benefit rules, and the calculator shows results according to the selected plan. This makes it more practical for comparing LIC whole life plans and understanding long-term policy benefits before taking a final decision.