In LIC, sum assured is the minimum guaranteed payout that the policyholder will receive in the event of death. It is calculated based on the age, gender, health and lifestyle of the policyholder.
The sum assured in LIC is calculated by the premiums that are paid by the policyholders. The sum assured is the minimum guaranteed amount that the insurer will pay out in the event of the policyholder's death.
There are many factors that will affect how your sum assured is calculated by LIC. These include your age, gender, smoking status, health history, and the type of policy you purchase.
The sum assured in LIC is calculated based on the premium amount paid by the policyholder. The premium amount is determined by the age, health, and lifestyle of the policyholder. The sum assured is the minimum guaranteed amount that the policyholder will receive from the insurance company in the event of death or maturity of the policy.
The sum assured in LIC (Life Insurance Corporation) is calculated by the company after taking into consideration various factors like the age of the policyholder, the sum assured chosen by the policyholder, etc. The company then uses its own internal algorithms to calculate the sum assured.
The sum assured in LIC is calculated by the insurance company based on the individual's age, health, and income. The insurance company will also consider the individual's lifestyle and smoking habits when determining the sum assured.
