## How is LIC endowment maturity amount calculated?

1. Sum Assured (A): = Rs. 5,00,000.
2. Total Bonus Amount on Maturity (B): * = Rs. 1000.
3. Maturity Amount (A+B): = Rs. 35,000.
4. Period of Maturity = Dec, 2021.

## What is Jeevan rakshak policy?

LIC Jeevan Rakshak Plan is a profit-sharing non-linked and participating Endowment Plan. It is the simple endowment plan with death and maturity benefit which one can buy even for their 8 years old child. After reaching the maturity age, the policyholder gets the basic Sum Assured along with Loyalty Additions.

What is vested bonus in LIC?

The Vested Bonus is the premium that the insurer grants to the policyholder after examining his assets and liabilities. The final premium will be added to the policy and handed over to the insured person. They are paid on the due date or death of the insured person.

### What is loyalty addition in LIC?

What is Loyalty Addition? Loyalty Addition (LA) is profit shared by LIC among its policy holders in the form of onetime payment in case of maturity or death claim. It means that if a policy is getting matured or becoming a death claim, then Loyalty Addition will as per following rates.

### How is vested bonus calculated?

It is onetime bonus associated with year of maturity or death provided that policy has completed 15 year at time of death or maturity. In case of maturity or death claim under endowment plans, total vested bonus is sum of simple reversionary bonus + Final Addition Bonus.

Which month is declared bonus in LIC?

Life Insurance Corporation of India (LIC of India) has declared the latest bonus rates for the valuation period 1st April 2020 to 31st March 2021. The point to remember is that LIC shares its valuation surplus or profit to the policyholders in the form of Bonus and Loyalty Additions.

## How is LIC loyalty addition calculated?

Loyalty Addition for per 1000 of Maturity Sum Assured So loyalty addition will be 100000 x 640/1000= 64,000. If death of the policy holder happens in 10th policy year then applicable Loyalty Addition rate will be 425 and total loyalty addition will be 1,00,000 x 425/1000= 42,500.

## What are the benefits of the LIC New janaraksha plan?

Death benefit, maturity benefits and accidental benefits with rider. The main features and benefits of the LIC New Janaraksha Plan include the following: Death Benefits: In the case of the policy owner’s death, the nominees will receive a lump sum amount which includes the Sum Assured + accrued Bonus.

Is the new janaraksha plan still available for sale?

This policy has been withdrawn. It is no more available for sale. New Janaraksha (Table 91) is an Endowment Assurance plan that provides financial protection against death throughout the term of plan. It pays the maturity amount on survival to the end of the term.

### How does sum assured work in janaraksha plan?

Sum assured + accrued Bonus paid on Maturity or on earlier Death. Even if the policyholder is not able to pay premiums after paying first 2 years premiums, then the life risk cover continues for 3 more years from unpaid premium. Amt. you want to invest per month?