LIC Index Plus Plan 873 Calculator: Free Tool for ULIP Projections
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Fill in the form and click "Calculate" to see your results
Plan Details & Information
1. Introduction
The LIC Index Plus Plan 873 calculator stands as a free online tool. It lets you estimate fund values, death benefits, and maturity returns for this ULIP plan in mere clicks. As a unit-linked insurance policy from Life Insurance Corporation of India, LIC Index Plus Plan 873 calculator blends life protection with market-linked investments. This setup aids long-term wealth building. Young parents eyeing their child's future or those after balanced growth find it useful. You skip lengthy agent talks. Make decisions on premium affordability and payouts from home with ease.
2. About the Plan - Key Details
Plan Overview: LIC's Index Plus, under Plan No. 873 with UIN 512L354V01, serves as a non-participating, unit-linked, regular premium individual life insurance plan. It delivers insurance coverage plus investment chances in equity-oriented funds. Since its February 2024 launch, the LIC Index Plus Plan 873 calculator highlights growth via index-tracking funds.
Eligibility Criteria: Entry begins at a minimum age of 90 days completed, up to 60 years. Calculations use the nearer birthday basis. Policy terms span 10 to 25 years flexibly. The premium paying term aligns with the policy term.
Premium Details: Minimum annualized premium hits ₹30,000 in yearly mode. It drops for half-yearly at ₹15,000, quarterly at ₹7,500, or monthly at ₹2,500 through NACH. No upper limit exists, pending underwriting.
Sum Assured: Basic sum assured equals 10 times the annualized premium for entry ages 50 or below. It shifts to 7 times for ages 51 to 60. Robust life cover starts immediately. Maturity age reaches at least 18 years.
3. Key Features & Benefits
Guaranteed Additions: Guaranteed additions shine as a key feature. They credit as percentages of your annualized premium. This happens at policy year ends: 5% at year 6, 10% at year 10, 15% at year 15, 20% at year 20, and 25% at year 25.
Maturity Benefits: Maturity brings the full unit fund value. It mirrors your investments' growth.
Death Benefits: Nominees receive the highest amount in death benefits. Options include basic sum assured adjusted for withdrawals, fund value, or 105% of total premiums paid.
Tax Benefits: Tax advantages cover premium deductions under Section 80C, up to ₹1.5 lakh yearly. Maturity and death proceeds stay tax-free under Section 10(10D).
Additional Perks: Partial withdrawals emerge after year 5 for emergencies. Free fund switches, up to four yearly, shift between growth options. Mortality charge refunds on maturity if premiums clear.
4. How to Use the Calculator
The LIC Index Plus Plan 873 calculator proves straightforward and user-friendly. Its form mirrors the policy purchase process on screen.
Step 1: Enter Date of Birth
Find this in the top form section under "Enter Your Details." The required field offers a calendar picker. Click the icon for DD/MM/YYYY selection. The LIC Index Plus Plan 873 calculator figures age via nearer birthday rule.
Step 2: Input Annual Premium
Fill the "Annual Premium (₹)" field next. Start from minimum ₹30,000. The number pad eases entry in ₹1,000 steps. It marks your yearly investment.
Step 3: Select Assumed Return
Pick from the "Assumed Return (%)" dropdown. Choices cover 4% for low estimates in conservative planning or 8% as high per IRDAI guidelines. This models fund growth.
Step 4: Pick Policy Term and Calculate
Use the "Policy Term (Years)" dropdown for 10, 15, 20, or 25 years. Match your goals. Premium mode defaults yearly and stays hidden. Press the green "Calculate" button. Results load instantly right-side: formatted fund values, death benefits, year-by-year table on growth.