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LIC Jeevan Rakshak Plan 827 Maturity Calculator

LIC of India presents the licjeevanrakshak827 Policy, an endowment plan with regular premiums and a bonus facility. This policy suits all lower-class individuals, providing both protection and savings. It offers a bonus after 5 years and can be obtained without medical requirements. At maturity, the policyholder receives the basic sum assured and additional loyalty.

In the case of the policyholder’s demise, the nominee obtains the sum assured and additional loyalty. The LIC Jeevan  Rakshak Plan 827 maturity calculator accurately calculates the amount received upon maturity or other circumstances.

Read More: LIC New Jeevan Shanti Plan 858

LIC Jeevan Rakshak 827 Policy Details

Minimum Maximum
Age of entry 8 years 55 years
Age of Maturity 70 years
Policy Term 10 years 20 years
Premium Paying Term Equal to the policy term
Premium Paying Frequency Yearly or half or yearly, and monthly
Sum Assured Per Life Rs. 75,000 Rs. 2 lakhs

LIC Jeevan Rakshak Plan 827 Features 

  • The minimum sum assured is Rs. 75000 and the maximum Sum assured is Rs. 2,00,000.
  • Policy tenure is 10 years to 20 years.
  • Entry is allowed from 8 years to 55 years while maturity is 75 years.
  • The death benefit will be the basic sum assured if the policyholder dies within 5 years of the policy.
  • If the policyholder dies after 5 years of buying the policy, the death benefits will be 10 times the annualized premium or 105% of all premiums paid along with LA.
  • Maturity benefits will be Basic SA plus LA
  • The loan is available after 3 premium payments.
  • No LA will be paid in case of surrendering the policy
  • LA will be paid after 5 years.

LIC Jeevan Rakshak Plan 827 Benefits

There are various Benefits of LIC Jeevan Rakshak. Let’s discuss them in detail:

1. Death Benefit

If the policyholder dies during the policy term after 5 years, the company pays the nominee(s) the Sum Assured and additional loyalty bonuses. The company determines the Sum Assured for accidental death. This death benefit can easily be calculated by using the LIC Jeevan  Rakshak Plan 827 maturity calculator.

2. Maturity Benefit

Upon completing the policy tenure and paying all premiums, the insured person receives the basic Sum Assured and loyalty additions as the maturity benefit, according to the policy’s terms and conditions. Maturity benefit calculation is now in your hands by LIC Jeevan  Rakshak Plan 827 maturity calculator.

3. Tax Benefit

Premiums payable under the policy and the amount received during a death or maturity claim are exempted from tax under Section 80C and 10 (10D) of the Income Tax Act, 1961.

4. Additional Benefit

The company provides the additional bonus as a single payment during maturity or death claims by the policy’s terms and conditions. The plan accumulates loyalty additions and does not require medical tests.

Read More: LIC Jeevan Lakshya Plan 933

Eligibility Criteria LIC Jeevan Rakshak Plan 827

The table below presents the eligibility criteria for the LIC Jeevan Rakshak Plan

Particulars Minimum Maximum
Tenure 10 Years 20 Years
Sum Assured Rs 75,000 Rs 2 Lakhs
Age  Limit 8 Years 55 Years
Age at Maturity 70 Years
Premium Paying Term Equal To Policy Term
Premium Amount
Premium Paying Mode
  • Monthly
  • Quarterly
  •  Semi-Annually
  • & Annually
Grace Period 30 Days
Free look Period 15 Days
Plan Type Offline

LIC Jeevan Rakshak Plan 872 Maturity Calculator Details

Customers can conveniently use the LIC Jeevan Rakshak Plan 827 maturity calculator, an online tool provided by LIC of India, to instantly calculate their plan’s maturity amount. This reliable LIC Jeevan Rakshak maturity calculator considers policy details, such as the policy amount, term, insured age, and premium payment frequency, to accurately estimate the maturity benefits.

Here are the premium details (tax not included) for LIC Jeevan  Rakshak, provided in rupees, for a 20-year policy term.

Age Sum Assured( for. Rs. 75,000) Sum Assured (Rs. 1Lakh) Sum Assured (Rs. 2 Lakhs)
30 years 2642 3523 6746
40 years 2778 3704 7109
50 years 3138 4185 8069

You can easily calculate the premium amount using the LIC Jeevan Rakshak maturity calculator according to your specific requirements.

Benefits of LIC Jeevan Rakshak Plan 827 Maturity Calculator

The LIC Jeevan Rakshak Plan 827 maturity calculator offers policyholders several benefits, which include:

  • Policyholders can effectively plan their finances and make informed decisions about investments, debt repayment, and expenses based on the advanced knowledge of their policy’s maturity value.
  • The LIC Jeevan Rakshak Plan 827 maturity calculator saves customers time and effort by providing a user-friendly and efficient tool for calculating the maturity amount, eliminating the need for manual calculations.
  • Policyholders gain transparency and clarity on policy returns as the LIC Jeevan Rakshak Plan 827 maturity calculator lets them quickly determine the premium payments required for specific maturity amounts, enhancing their financial management.
  • Policyholders can use the LIC Jeevan Rakshak Plan 827 maturity calculator to determine their policy’s maturity value, ensuring the expected amount and fostering trust between them and LIC, a leading insurance provider, thus giving them peace of mind.

Working of LIC Jeevan  Rakshak Plan 827 Maturity Calculator

Using the LIC Jeevan Rakshak Plan 827 maturity calculator, Mr. Sharma, a 30-year-old non-smoker, calculates his payable premiums. He inputs his desired sum assured of INR 1 lakh and selects a payment term and policy term of 20 years. Based on this information, the calculator estimates an annual premium of approximately Rs. 3,587.

Furthermore, the Jeevan Rakshak Plan 827 maturity calculator assists Mr. Sharma in calculating the death benefit and maturity benefit he and his family will receive.

Conclusion

LIC Jeevan Rakshak Plan 827 offers numerous advantages to policyholders. It provides financial security and protection to individuals and their families. The plan’s maturity calculator allows policyholders to plan their finances effectively and make informed decisions based on the estimated maturity value. The calculator simplifies the process, saving time and effort for policyholders.

Moreover, it enhances transparency and clarity regarding policy returns, enabling policyholders to determine premium payments required for specific maturity amounts. Using the LIC Jeevan Rakshak maturity calculator, policyholders can confidently anticipate the expected maturity amount, fostering trust in LIC as a reliable insurance provider.

Overall, the LIC Jeevan  Rakshak maturity calculator and its maturity calculator offer peace of mind and financial stability to policyholders throughout their coverage period.

LIC Jeevan  Rakshak Plan 827 Maturity Calculator – FAQs

How can I calculate the maturity amount for my Jeevan Rakshak Plan 827?

Ans. You can easily calculate the maturity amount for your Jeevan Rakshak Plan 827 using the LIC Jeevan Rakshak on their official website. Input the relevant details such as policy term, premium amount, and sum assured to estimate your maturity value accurately.

Can I adjust my premium payment frequency in Jeevan Rakshak Plan 827?

Ans. You can choose the premium payment frequency that suits your needs. Jeevan Rakshak Plan 827 offers options for monthly, quarterly, half-yearly, and annual premium payment modes. You can select the frequency that is most convenient for you.

Is there a death benefit provided under Jeevan Rakshak Plan 827?

Ans. Yes, Jeevan Rakshak Plan 827 offers a death benefit. In case of the policyholder’s unfortunate demise during the policy term, the sum assured, along with any accrued bonuses, will be paid to the nominee/beneficiary as a death benefit. The LIC Jeevan Rakshak maturity calculator can easily calculate this benefit.

Can I get a loan against my Jeevan Rakshak Plan 827 policy?

Ans. You can avail of a loan against your Jeevan Rakshak Plan 827 policy. After the policy acquires a surrender value, you can apply for a loan with LIC, subject to their terms and conditions. The loan amount will be based on the surrender value of your policy.

Are there any tax benefits associated with Jeevan Rakshak Plan 827?

Ans. Yes, Jeevan Rakshak Plan 827 offers tax benefits under the prevailing tax laws in India. The premiums paid towards the policy are adequate for tax deductions under Section 80C of the Income Tax Act, and the maturity proceeds are tax-free under Section 10(10D), subject to the specified limits and conditions. It is advisable to consult a tax advisor for detailed information regarding your specific tax situation.

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