LIC Single Premium Endowment Plan Calculator
How to Use the LIC 917 Plan Calculator: A Step-by-Step Guide for Beginners
Are you considering the LIC Single Premium Endowment Plan 917 and wondering how to estimate your returns? The LIC 917 Plan Calculator is your go-to tool to uncover the potential benefits of this one-time investment plan! Whether you're curious about maturity benefits,
death benefits, or surrender value, this handy calculator simplifies everything. In this guide, we’ll walk you through how to use the LIC Single Premium Endowment Plan Calculator in a way that’s easy to understand and apply. Let’s dive in!
What is the LIC 917 Plan Calculator?
The LIC 917 Plan Calculator (also known as the LIC Single Premium Endowment Plan Maturity Calculator) is an online tool designed to help you estimate the returns from the LIC Single Premium Endowment Plan (Plan No. 917). This plan is a popular LIC one-time investment plan where you pay a single premium upfront and enjoy benefits like maturity value,
loyalty additions, and death cover over a chosen term. Whether you're using the LIC Single Premium Policy Calculator or the LIC Maturity Calculator Online, this tool takes your inputs and crunches the numbers for you—no math degree required!
Why Use the LIC Single Premium Endowment Plan Calculator?
Before committing to any insurance plan, it’s smart to know what you’re getting into. The LIC Single Premium Endowment Plan 917 Maturity Calculator lets you:
- Estimate your maturity value with bonuses.
- Calculate the death benefit for your loved ones.
- Understand the surrender value if you exit early.
- Factor in loyalty additions (like Simple Reversionary Bonus and Final Additional Bonus).
With tools like the LIC Endowment Policy Calculator or LIC Loyalty Addition Calculator, you can plan your finances confidently. Now, let’s see how to use it step-by-step.
Step-by-Step Guide to Using the LIC 917 Plan Calculator
Using the LIC Single Premium Endowment Plan Calculator is as simple as sipping your morning chai. Here’s how you can get started:
Step 1: Visit the Calculator Page
Head over to a trusted website offering the LIC Maturity Value Calculator or search for "LIC 917 Plan Calculator" online. You’ll land on a clean interface ready to take your inputs. For example, our site at https://liccalculatorpremium.in/lic-917-plan-calculator is a great place to start!
Step 2: Enter Your Single Premium Amount
The first field you’ll see is for the Single Premium Amount. This is the one-time payment you’re willing to invest in the LIC Single Premium Endowment Plan 917.
The minimum is ₹1,00,000, and it should be in multiples of ₹10,000. For instance, type in ₹5,00,000 if that’s your planned investment.
Step 3: Input Your Basic Sum Assured
Unlike some plans where the premium equals the sum assured, the LIC Single Premium Policy Calculator lets you choose your Basic Sum Assured. This is the guaranteed amount you’ll get on maturity or what your family receives on death (plus bonuses).
Enter a value like ₹7,00,000—again, it should be at least ₹1,00,000 and in multiples of ₹10,000.
Step 4: Select Your Policy Term
Next, choose your Policy Term—the number of years you want the plan to run (10 to 35 years). The LIC Single Premium Endowment Plan Maturity Calculator adjusts benefits based on this. For a 25-year plan, just type "25" and watch the magic unfold.
Step 5: Add Your Age at Entry
Your age matters! Enter your Age at Entry (0 to 65 years). If you’re 40 now, input "40". The calculator ensures your age at maturity doesn’t exceed 75, aligning with LIC’s rules. This step also affects when risk coverage begins (more on that later).
Step 6: Specify Bonus Rates (Optional)
The LIC Loyalty Addition Calculator aspect comes into play here. You’ll see fields for Simple Reversionary Bonus Rate (default: ₹45 per ₹1,000 SA/year) and Final Additional Bonus Rate (default: ₹100 or ₹150 based on term). Leave them as is for a standard estimate, or tweak them if you have specific LIC data—say, ₹50 and ₹150.
Step 7: Hit "Calculate" and See the Results
Click the shiny yellow "Calculate" button! Within seconds, the LIC Maturity Calculator Online will display a detailed breakdown. You’ll get:
- Investment Details: Your premium and bonus rates.
- Year-wise Details: How bonuses grow, death benefits, and surrender value each year.
- Maturity Benefit: Total payout including Sum Assured, Simple Reversionary Bonus, and Final Additional Bonus.
- Death Benefit: Before and after risk commencement.
- Surrender Value: What you’d get if you exit early.
For example, with ₹5,00,000 premium, ₹7,00,000 sum assured, 25 years, and age 40, you might see a maturity value of ₹16,80,000—pretty impressive, right?
Understanding the Results
The LIC Single Premium Endowment Plan 817 Maturity Calculator (a typo often searched for 917) gives you a year-wise table. If you’re under 8 years old, the calculator adjusts the death benefit based on when risk starts (after 2 years or age 8, whichever’s earlier).
The LIC Endowment Policy Calculator also shows how bonuses pile up, making it a solid LIC one-time investment plan calculator.
Tips for Using the LIC 917 Plan Calculator Effectively
- Double-Check Inputs: A small typo can skew results. Ensure your premium and sum assured align with your budget.
- Play with Terms: Test 15 vs. 25 years to see how benefits change.
- Check Bonus Rates: LIC declares these annually, so tweak them for a realistic estimate.
- Save Results: Screenshot your output for future reference.
Why This Calculator Rocks
The LIC Single Premium Endowment Plan Calculator takes the guesswork out of planning. Whether you’re eyeing the LIC Single Premium Endowment Plan 917 Maturity Calculator for long-term savings or the LIC Maturity Value Calculator for quick insights, it’s user-friendly and fast. No more scratching your head over complex insurance jargon—just input, click, and plan!
Ready to Try It?
Head to https://liccalculatorpremium.in/lic-917-plan-calculator and start exploring the LIC 917 Plan Calculator today. It’s your ticket to understanding how the LIC Single Premium Endowment Plan 917 can grow your money. Don’t wait—calculate your future now!
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