# How To Calculate Tax On Lic Maturity Amount

The premium amount usually depends upon the various credentials of the applicant. Calculate maturity claim using this LIC new bima gold 179 maturity calculator by providing your age policy term sum assured and annual premiumRelated Calculators.

Calculate The Maturity Benefit Of Lic Jeevan Pragati Plan Of Yours The Maturity Benefit Amount Of Lic Jeevan Pragati Is Totally How To Plan Benefit Fun Facts

### However when we pay premium and at maturity we may have to pay a certain percentage of service tax.

How to calculate tax on lic maturity amount. 1 Continue and take the maturity amount at maturity 2 Discontinue the premiums and take the paid-up amount at maturity 3 Surrender and take the surrender value and invest in good MF. The benefits of maturity on LIC Life Insurance can be calculated as Sum assured simple reversionary bonuses additional bonuses if any are payable. LIC has been the holder of having the highest percentage of claim settlement ratio in the past few years.

Under LIC Jeevan Pragati plan LA is not payable. So the maturity returns provided here are not mere an estimation. Rather these are proved returns provided by LIC in the past.

Calculate LIC Premium along with Service Tax. LIC Jeevan Anand calculator can provide the customer with the details of the premium of maturity benefits and death benefits along with with the whole life benefits and some. Now whenever the death of the policyholder happens even after the policy term the nominee will additionally get the Sum Assured amount as the Death Benefit.

It takes Parameters like Age of the person Term of the policy name sum assured email id phone number. This calculator will help you in getting an idea of the approximate premium that you will be paying for a given policy. Is Life Insurance policyLIC maturity amount taxable.

In case of maturity amount received under Insurance policies where the annual premium payable is more than 2010 and TDS has been deducted at 1 the taxable income will be treated equal to Gross Amount received minus premiums paid. So follow mentioned below formula to calculate the maturity amount of the Normal LIC Policies. Calculate the maturity returns of LIC Policies based on the past 10 yrs Bonus history of LIC.

Maturity benefit would be equal to the Sum Assured Bonus Amounts which have been received throughout the policy term any Final Addition Bonus if declared. The calculator will adjust the amount of the premium depending on the factors like your age the sum assured tenure of the policy frequency of the payment and other such variables. There is a separate LIC premium calculator for the child plan and another one for LIC Jeevan Anand planThese are popular calculators that are used by all to calculate their premium and maturity amount.

Use our online LIC new bima gold maturity calculator to find the maturity claim value. Normal Policies LIC Maturity amount Sum assured Simple Bonus FAB. When the premium paid on a policy exceeds 10 of the sum assured for policies issued after 1 April 2012 and 20 of the sum assured for policies issued before 1 April 2012 any amount received on maturity of a life insurance policy is fully taxable.

The amount of premium has to pay and the amount you will get at maturity usually depends on the plan that one has to select. Taxability of maturity amount of a life insurance policy is determined by section 1010D of income tax act 1961. LIC Online premium calculator is a unique calculator used to calculate the premium for Policies of LIC.

How to calculate the LIC premium. So the expected maturity amount is Rs 150000 Rs 126000 Rs 60000 Rs 336000. If the sum assured under the LIC policy is more than 10 times the annual premium for the maturity amount it will be tax-free.

Lic Premium Calculator is used to calculate Premium Amount for yearly half-yearly quarterly and monthly for all policies offered by LIC. LIC Jeevan Anand calculator helps the customers to calculate some premiums which can be calculated based on the sum assured by entering some details such as name age the sum assured date of birth policy term etc. This fund value is calculated on the highest Net Asset Value NAV which was available over the first 100 months of buying the policy or the NAV which is available on the maturity date.

In case your endowment policy pays Loyalty additions or Guaranteed additions similar to SRB you can calculate the amount accordingly and include it in total maturity benefit. What is LIC Premium Maturity Calculator. LIC Maturity amount is the sum of Simple Bonus Sum assured and Final Additional Bonus.

The maturity amount of the LIC policies is the sum of the Finale additional bonus Sum Assured and Simple bonus. If the sum assured under the LIC policy is less than 10 times the annual premium for the maturity amount then they have to pay tax in accordance with the tax slab. Sum assured is the amount you have been insured.

LICs New Bima Gold 179 Maturity Insurance Coverage and Benefits Calculator. The LIC premium calculator and maturity amount let the policyholder calculate the maturity benefits that he will receive. LIC Maturity amount sum assured Simple Bonus FAB Survival Benefits.

LIC Samridhi Plus Plan Maturity Benefit When the term comes to an end the fund value is paid. As per this section any sum received including bonus under Life insurance policies which are not exempted under section 1010D of income tax act will be subject to deduction of tax at source as per the rate applicable. One cannot judge hisher LIC premium as per others.

LIC Maturity value Sum Assured FAB Simple Bonus. Calculation formula for Normal LIC Policies.

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