New Jeevan Anand (815) Paid-up Value Calculator
LIC New Jeevan Anand (815) paid-up value depends upon Sum Assured & number of paid premium and accumulated bonus during the period when policy was in force. Following calculator helps to calculate approx. paid-up value as per your sum assured and paid premium. Please note, It is not official calculator of LIC.
LIC New Jeevan Anand (Table-815) Paid-up Value
New Jeevan Anand becomes eligible for a Paid-up value, if premium for first 3 years have been completely paid and further premium are not paid. Paid-up value is sum of Paid-up Sum Assured + Accumulated Bonus for years which premiums have been paid successfully. Paid-up sum assured is sum assured factored by a ratio of number of premiums paid to total number of premiums to be paid. For example, if sum assured is 3,00,000 and term is 21 year and all premium for first 7 years have been paid, then paid-up sum assured will be (3,00,000) x (7/21) = 1,00,000.
Following table provides an example of Paid value details of a policy with Sum Assured: 15,00,000, Term: 15 years, Purchased Year: 2014 and premium for first 10 policy years (2014-2023) have been paid successfully and remaining premium is not paid.
|Paid-up value details|
|Premium Paid||10 out of 15 years|
|Paid-up Sum Assured||10,00,000|
|Accured Bonus (Approx.)||6,15,000|
|Paid-value at completion of term (2033) (Approx.)||16,15,000|