Enter Policy Details
Discover Your Benefits
Use the calculator on the left to get a personalized illustration for LIC's Nav Jeevan Shree Plan 911. See your estimated premium, guaranteed maturity amount, and year-by-year life cover.
How to Use This Calculator
- Enter Your Details: Input your age, the desired policy term (5-20 years), and the Basic Sum Assured you wish to have.
- Choose Your Cover: Select between Option 1 (lower life cover) and Option 2 (higher life cover) based on your financial protection needs.
- Calculate Benefits: Click the "Calculate" button to see a detailed illustration of your single premium, maturity benefits, and a year-wise breakdown of life cover.
- Analyze Results: Use the tabs to switch between the Summary, Yearly Breakdown, and Chart View to fully understand the plan's benefits.
Step-by-Step Calculation Explained
- Guaranteed Additions (GA): The GA is calculated annually at a fixed rate of ₹85 for every ₹1,000 of your Basic Sum Assured. The formula is: $$( \frac{\text{Basic Sum Assured}}{1000} ) \times 85 \times \text{Policy Term}$$
- Maturity Benefit: This is the total amount you receive if you survive the policy term. It is the sum of your Basic Sum Assured and all the Guaranteed Additions accumulated over the years. Formula: $$\text{Basic Sum Assured} + \text{Total Guaranteed Additions}$$
- Sum Assured on Death: This is the base life cover amount. It depends on the option you choose and is a multiple of the estimated tabular premium (premium before GST).
- Total Death Benefit: If death occurs during the policy term, the nominee receives the Sum Assured on Death plus the Guaranteed Additions accumulated up to that year. Formula: $$\text{Sum Assured on Death} + \text{Accrued Guaranteed Additions}$$