Calculation Methodology and Return Projections for LIC India Policies (Jeevan Labh, Anand, Umang)

This technical report outlines the mathematical calculation methodology, tax implications, and maturity benefit structures for various Life Insurance Corporation of India (LIC) policies. It specifically covers the premium calculation logic for popular endowment and whole-life plans such as Jeevan Labh (Table 936), Jeevan Anand (Table 915), and Jeevan Umang (Table 945).

The documentation explains how vested simple reversionary bonuses, final additional bonuses (FAB), and the basic sum assured are computed over the policy term to project accurate maturity values for policyholders.

Interactive Implementation:

The live, interactive web-based implementation of these calculation models, built for real-time user testing and financial planning, can be accessed as a free software tool at:

https://policymaturity.in/tools/