The maturity amount of LIC New Jeevan Anand depends on various factors, such as the sum assured, term of the policy, age of the policyholder, etc. The sum assured is the amount of money that will be paid to the nominee in case of the policyholder's untimely demise during the policy term.
If the policyholder survives the policy term, then the maturity amount will be equal to the sum assured plus bonuses, if any. The bonuses for LIC New Jeevan Anand are declared by the Life Insurance Corporation of India (LIC) at the end of each financial year. The bonuses are calculated as a percentage of the sum assured and depend on the performance of the corporation.
For example, if the policyholder has taken a sum assured of Rs. 10 lakhs and the policy term is 25 years, then the maturity amount would be the sum of the sum assured and bonuses declared during the policy term. If the average bonus rate for the policy term is 5%, then the maturity amount would be:
Sum assured = Rs. 10 lakhs
Bonuses (5% of sum assured per year) = Rs. 5 lakhs
Total maturity amount = Rs. 15 lakhs
It is important to note that the maturity amount of LIC New Jeevan Anand is an approximation based on various assumptions and factors. The actual maturity amount may differ from this calculation depending on various factors such as changes in bonus rates, policyholder's age at the time of buying the policy, and the corporation's performance, among others.
Moreover, one can use LIC's maturity calculator, available on the corporation's official website, to get an estimate of the maturity amount of LIC New Jeevan Anand for a specific policy term and sum assured.
In conclusion, the maturity amount of LIC New Jeevan Anand depends on various factors and can be estimated using the sum assured and bonus rate. The actual maturity amount may differ based on multiple factors and assumptions. It is always advised to consult a financial advisor for a personalized understanding of one's specific scenario.
