The LIC Maturity Calculator estimates your policy's maturity value:

• Calculates the total maturity amount including bonuses
• Determines the total premium paid over the policy term
• Computes the returns on your investment
• Provides a detailed breakdown of your policy benefits

Detailed Explanation:

This calculator uses the following formulas to determine your LIC policy's maturity value:

Maturity Amount Calculation:

• Maturity Amount = Sum Assured + Bonus Amount
• The Sum Assured is the guaranteed amount you receive at maturity
• Bonus Amount is calculated based on the policy's bonus rate

Bonus Calculation:

• Bonus Amount = (Sum Assured × Bonus Rate × Policy Term) ÷ 1000
• Bonus rates vary by policy type and are declared annually by LIC
• For example: If Sum Assured = ₹10,00,000, Bonus Rate = ₹45 per ₹1000, and Policy Term = 20 years
• Then: Bonus Amount = (10,00,000 × 45 × 20) ÷ 1000 = ₹9,00,000

Total Premium Calculation:

• Total Premium Paid = Annual Premium × Policy Term
• This represents the total amount you've invested in the policy

Returns Calculation:

• Returns = Maturity Amount - Total Premium Paid
• This shows your actual profit from the policy

Important Notes:

• Actual bonus rates may vary from year to year
• This calculator provides an estimate based on the current bonus rate
• For exact values, please refer to your policy document or contact LIC

This calculator also includes text-to-speech functionality to announce your calculated maturity amount, making it more accessible for all users.