A tool designed for policyholders of the Life Insurance Corporation of India, it provides an estimate of the total amount receivable upon the policy’s maturity. This estimate typically includes the sum assured along with any applicable bonuses accumulated during the policy term. For instance, a policy with a sum assured of 10 lakhs and accumulated bonuses of 2 lakhs would yield a maturity value of 12 lakhs. Such tools often require inputs like policy number, date of commencement, and premium payment frequency.
Financial planning is significantly aided by the ability to project future returns from investments. Having access to a reliable estimation method empowers policyholders to make informed decisions regarding their long-term financial goals, such as retirement planning, children’s education, or major life events. Historically, obtaining these estimations involved manual calculations or direct inquiries with insurance agents. The advent of online tools streamlined this process, providing quick and convenient access to crucial information. This enhanced transparency promotes better financial management and reduces reliance on intermediaries.
