How to Use an LIC Premium Calculator Without Getting Misled

Every online LIC premium calculator produces an estimate, not a quotation. The estimate is based on published tabular rates for a standard, healthy life.

Three things move the final number: GST, mode and high sum assured rebates, and any extra premium loaded after underwriting for health or occupation.

Maturity projections for participating plans depend on bonus rates that are declared each year and are not guaranteed. Treat any projected maturity value as indicative.

Non-participating plans such as Bima Jyoti and Jeevan Azad are the exception — there the maturity amount is contractually fixed at purchase.