How to Calculate maturity amount of LIC Jeevan Surabhi Plan

How to Calculate maturity amount of LIC Jeevan Surabhi Plan

Lic Jeevan Surabhi is a moneyback policy of LIC which ensures liquidity by giving back some amount at various stages of the policy. The Sum Assured is returned in either 3 or 4 or 5 installment depending on the premium term chosen . At the end of maturity period the bonus accumulated is returned. Below table shows percentage of sum assured returned on the three plans for a term of 15,20 and 25 years.

Percentage of Sum Assured payable at the end of specified duration
Plan and Term ( Premium Paying Term )
Duration	106/15(12)	107/20(15)	108/25(18)
4	30%	25%	20%
5	-	-	-
8	30%	25%	20%
10	-	-	-
12	40%	25%	20%
15		25%	20%
18	-	-	20%

To calculate the maturity amount of LIC Jeevan Surabhi we need to caculate the yearly bonus

Bonus Rates of LIC Jeevan Surabhi from 2005 to 2012

Reversionary Bonus for evey 1000 Sum Assured in Rs

Plan	Term	2005	2006	2007	2008	2009	2010	2011	2012
LIC Jeevan Sugam	25	50	47	50	50	50	50	50	50
LIC Jeevan Sugam	20	42	39	41	41	41	41	41	41
LIC Jeevan Sugam	15	35	32	34	34	34	34	34	34

This means that for 2012 if you had a policy with sum assured of Rs 1000 for a period of 25 years (term) than you will be payed a bonus of Rs 50.

Final Maturity Value

If you have a plan of sum assured Rs 100,000 than your final maturity value will be.

1. If  you opt for a term of 25 years than assuming at 2012 i.e Rs 50 bonus the maturity value will be 50*100*25= Rs 1,25,000.
2. If  you opt for a term of 20 years than assuming at 2012 i.e s 41 bonus the maturity value will be 41*100*25= Rs 1,02,500.
3. If  you opt for a term of 15 years than assuming at 2012 i.e Rs 50 bonus the maturity value will be 34*100*25= Rs 85,000.

Do note that lower the term the lower the amount of premium you would be paying to LIC also and hence lower your maturity value. Also this final maturity value is beyond the sum assured which would have been returned earlier.