How can I calculate my LIC maturity amount?

The maturity amount you will receive from your LIC policy depends on several factors, such as the policy term, premium payment term, sum assured, and bonus declared by LIC.

To calculate the approximate maturity amount, first determine the guaranteed maturity value, which is basically the sum assured. Then add the cumulative simple reversionary bonuses declared by LIC till date. Usually, an interim bonus may also be payable if your policy matures before the next bonus declaration.

Finally, you can add the terminal bonus, if applicable, which gets declared only at maturity. Terminal bonus rates are not fixed, so the exact projection is not possible.

For a more accurate projection of your LIC maturity amount, you can use the LIC Premium & Maturity Calculator. All you need to input is your key policy details, such as sum assured, term, premium paid, and bonuses accrued. The calculator will provide the tentative maturity value. Checking this estimate annually can help you assess the growth of your LIC investment.