LIC Jeevan Azad (Plan 768) Premium and Maturity Calculator

Learn about the capabilities of LIC’s Jeevan Azad (Plan 768) Premium and Maturity Calculator, which is your tool for confidently planning a safe financial future. With LIC’s new non-participating, non-linked savings cum protection plan, you can use this calculator to determine the precise amount of premium you’ll pay and the lump sum you’ll receive at maturity. Not a surprise. Just flexibility, protection for your loved ones, and returns that are guaranteed.

LIC Jeevan Azad Plan 768 Calculator

LIC’s Jeevan Azad (Plan 768) Calculator

Protection & Savings Plan with Limited Premium Payment.

Min: 30 days, Max: 50 Years
Choose between 15 to 20 years.
Range: ₹2 Lakh to ₹5 Lakh (Multiples of ₹25k)
Auto: Policy Term – 8 Years
Choose your payment frequency.
Age + Policy Term (Max 70)

Why Jeevan Azad (Plan 768) Is Right for You

  • Guaranteed Savings + Protection: Offers both life cover during term and a fixed lump sum at maturity.
  • Limited Premium Payment: Premiums are paid only for a limited period: the premium paying term is policy term minus 8 years.
  • Flexible Options:
      • Choose premium payment frequency: yearly, half-yearly, quarterly or monthly.
      • Option to receive maturity or death benefits in instalments or as lump sum.
      • Add on riders (Accident, Premium Waiver etc.) for extra protection.
  • Liquidity and Safety Features:
      • Policy loan facility after first year.
      • Surrender value guaranteed or special surrender value.
  • Eligibility & Sum Assured:
      • Entry age from 30 days up to 50 years, with maturity age up to 70 years.
      • Basic Sum Assured between ₹ 2,00,000 to ₹ 5,00,000.

Real-World Example

Suppose you are 35 years old and choose Basic Sum Assured of ₹ 200,000 under Jeevan Azad, with a policy term of 18 years (so premium payment term = 10 years). The annual premium (exclusive of taxes) would be about ₹ 12,152.
At maturity (after 18 years), you receive ₹ 200,000 (the basic sum assured). In case of untimely death during policy term, the death benefit would be the higher of Basic Sum Assured or 7× annualized premium, subject to minimum 105% of total premiums paid.

How the Premium & Maturity Calculator Works

  • Enter the policy term, desired sum assured, and age.
  • The calculator calculates your monthly or annual premium, the maturity amount (which is the sum assured), and other information like surrender values and death benefit guarantees.
  • Examine how your premium or benefits are affected by various choices (add-on riders, payment frequency, installment vs. lump sum).

Expert Quotes & Analysis

“Non-par plans like Jeevan Azad are ideal for individuals seeking fixed guaranteed returns without exposure to investment risk.”
— Financial Planner, Mumbai

  • According to analysis, many policyholders find peace of mind in guaranteed returns and protection, particularly during uncertain economic times.
  • While preserving complete coverage, the limited premium paying feature lowers long-term financial burden.
  • Premiums are more reasonably priced thanks to mode rebates (discounts) and high sum assured rebates.

FAQs

Is this plan eligible for tax benefits?

Yes. Indian tax laws should allow premiums paid and benefits received under LIC Jeevan Azad; however, the precise tax treatment will depend on your situation and the laws in effect at the time. Consulting a tax advisor is the best course of action.

What happens if I miss paying premiums?

A grace period is in place (30 days for quarterly, half-yearly, and annual; 15 days for monthly). The policy expires if you haven’t paid yet. If arrears are paid with interest and approval, it can be revived in five years.

Can I surrender the policy anytime?

You can give up after paying the premium for at least a full year. Only after two complete years is the guaranteed surrender value available.

What is paid-up policy?

The policy becomes paid-up if you stop paying premiums after at least a full year. Benefits for maturity or death are correspondingly diminished.

Are there rebates/discounts on premiums?

Yes. rebates for online sales, mode rebates (for yearly, half-yearly, etc.), and high sum assured rebates.

Can benefits be paid in instalments?

Yes. In lieu of a lump sum payment, both maturity benefits and death benefits (in the event of death during the term) may be paid in installments over 5, 10, or 15 years.