The Life Insurance Corporation of India (LIC) offers many policies for people. LIC New Bima Gold is one of the best participating non-linked savings-cumulative-protection plans. It is a policy with a low premium payment that provides life insurance coverage and a maturity benefit.
This reimbursement plan pays back a portion of the ‘Sum Assured’ as ‘Survival Benefits’ at regular intervals. Before investing your hard-earned money as an investor, you have to analyze the prospective returns of every investment product. As a result, the LIC brings the LIC New Bima Gold 179 Maturity Calculator. It helps you calculate and analyze premiums and returns in advance.
Let’s learn more about this new Bima gold plan and LIC New Bima Gold Maturity Calculator in detail below.
Key Features of LIC New Bima Gold Plan 179
Let’s look at the key features of LIC New Bima Gold plan below:
- This plan is a money-back with Survival Benefits paid every 4th year.
- Premium payment periods of 12 years, 16 years, and 20 years are offered.
- At the last of the premium-paying term, the Maturity Benefit is provided.
- Even after maturity, extended insurance coverage equivalent to 50% of the Sum Assured will be provided equal for a period to half of the plan’s term.
- If two full-year premiums have been paid, auto coverage for 2 more years is available.
- After three full-year premiums have been paid, a loan facility will be made available.
Benefits of LIC New Bima Gold Plan 179
There is always a particular pattern that every policy follows with time. Let’s use the new Bima Gold Plan 179 maturity calculator to examine the benefit pattern of LIC’s new Bima Gold Plan 179.
|Premium paying term||12 years||16 years||20 years|
|4rth year||15% of the Sum Assured||15% of the Sum Assured||10% of the Sum Assured|
|8th year||15% of the Sum Assured||15% of the Sum Assured||10% of the Sum Assured|
|12th year||Total premium paid + loyalty addition-survival benefits paid already.||15% of the Sum Assured||10% of the Sum Assured|
|16th year||Total premium paid + loyalty addition-survival benefits paid already.||10% of the Sum Assured|
|20th year||Total premium paid + loyalty addition-survival benefits paid already.|
LIC New Bima Gold 179 Maturity Calculator
As we know, One of LIC of India’s most well-liked insurance plans is New Bima Gold. New Bima Gold 179 Maturity Calculator is an online Calculator presented by LIC for the user. You can use the Online Premium and Benefit Calculator for New Bima Gold (Plan 179) to obtain a good sense of the plan’s benefits structure.
The new Bima Gold Plan 179 maturity calculator is a valuable resource for anyone purchasing an LIC policy. These calculators provide multiple benefits and assist policyholders in understanding the influence of various factors on premiums and payments. The LIC new Bima Gold Plan 179 maturity calculator is designed to help consumers choose the appropriate plan depending on their budget and other insurance requirements.
The new Bima Gold Plan 179 maturity calculator helps comprehend the plan’s advantages.
The new Bima gold maturity calculator can provide information such as how much you are making a payment, the available mortality benefits, the pattern of coverage for insurance, maturity benefits, and so on. You may enter your information, such as age, sum assured, term, and so on, to receive entire plan details in a tabular style.
Benefits of LIC New Bima Gold Plan 179 Maturity Calculator
The LIC New Bima Gold 179 maturity calculator is a useful LIC tool that helps users estimate the benefits of the LIC New Bima Gold policy. Here are a few advantages of utilizing the calculator:
1. Saves Time
One of the significant advantages of utilizing the new Bima Gold Plan 179 maturity calculator is that it saves time. Calculating premiums or maturity amounts for life insurance plans is typically time-consuming, especially if done manually. A new Bima gold 179 maturity calculator, on the other hand, may provide speedy results in only a few clicks.
2. Estimation of Maturity Benefit
The new Bima Gold plan 179 maturity calculator assists you in estimating the maturity benefit you may anticipate getting after the insurance term. It calculates the maturity amount by considering the total guaranteed, bonuses, and other policy-specific aspects.
3. Premium Calculation
By entering the necessary information into the calculator, you can determine the premium you must pay for the LIC New Bima Gold policy. This allows you to manage your money and comprehend the policy’s affordability.
4. Plan Comparison
The New Bima Gold Plan 179 maturity calculator compares several LIC New Bima Gold insurance alternatives. You can fill out other criteria and see how they affect the premium payments and maturity benefit. This allows you to select the plan that best meets your monetary goals and needs.
The LIC New Bima Gold calculator can suit your requirements and preferences. You can enter numerous parameters such as policy term, premium payment period, sum assured, and so on to create personalized results customized to your needs.
How Does LIC New Bima Gold Plan 179 Maturity Calculator Work?
The LIC new Bima Gold Plan 179 maturity calculator is a valuable tool for those seeking information about various LIC insurance products and their coverage conditions. This tool is critical in assisting consumers in making educated selections when selecting the best policy.
Essential details like taxes, total premium payments, accidental event coverage, and any health risks associated with the selected insurance are also provided by the LIC 179 maturity calculator. It also estimates the overall bonus amount and the lump sum payoff that policyholders might expect when their policies mature.
The lic 179 maturity calculator facilitates policy comparisons and lets consumers make well-informed selections. To make use of the LIC New Bima Gold Maturity Calculator, you’ll need to provide policy-specific information, such as:
- Policy term: The length of time the policy will be in effect.
- Premium payment term: The period in which premiums must be paid.
- Sum Assured: The amount of life insurance coverage given by the policy is referred to as the sum guaranteed.
- Age: The policyholder’s age at the time the insurance was purchased.
We understand that the LIC plan 179 maturity calculator can be highly beneficial whether you are a first-time buyer or have invested in LIC policies for years. Individuals can use the LIC 179 maturity calculator to calculate the premiums they will pay and the maturity amount they will receive at maturity. Utilize the LIC plan 179 maturity calculator to make educated financial decisions regarding your future investments, whether you’re thinking about purchasing or already have a life insurance policy.
New Bima Gold Plan 179 Maturity Calculator – FAQs
Do you pay your insurance premiums monthly or annually?
Ans: Insurance premiums can be paid both annually and monthly.
Do you have to pay taxes on the payoff from your life insurance policy?
Ans: No, the life insurance policy payout is tax-free under section 10(10D) of the Income Tax Act.
What are the maturity advantages of Bima Gold 179?
Ans. The maturity benefit will equal the sum of all premiums paid to date plus the loyalty bonus. After the fourth and eighth years of the 12-year policy term, the plan pays 15% of the sum assured.
How does the lic plan 179 maturity calculator help to compare policies?
Ans. The LIC plan 179 maturity calculator allows you to compare several LIC New Bima Gold insurance alternatives. This will enable you to manage your money and comprehend the policy’s affordability.
How is the maturity benefit computed?
Ans. Maturity benefit is computed as the sum of the [Sum Assured + Bonus Amounts] accrued over the policy period plus any [Final Addition Bonus] declared.