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LIC Jeevan Saral Plan 165 Maturity Calculator Excel

LIC Jeevan Saral (165) is unique. The “Sum Assured” printed on your policy is usually the Death Benefit Sum Assured (250 times monthly premium).

The Maturity Sum Assured (MSA) is different and depends on your entry age.

Step 1: Set Up Your Excel Sheet

Open a new Excel sheet and set up the following labels in Column A and leave Column B empty for your data input.

Cell Column A (Label) Column B (Example Data)
A1 Monthly Premium 1000
A2 Policy Term (Years) 15
A3 Entry Age (at start) 35
A4 Maturity Sum Assured (MSA) (See Step 2 below)
A5 Loyalty Addition Rate (per 1000) (See Step 3 below)
A6 Total Maturity Value (Formula below)

Step 2: Find Your Maturity Sum Assured (MSA)

Crucial: You cannot calculate this with a simple formula. You must look at your Policy Bond.

  1. Look for the field labeled “Maturity Sum Assured” (this is different from the Basic Sum Assured).

  2. If you cannot find the bond: The MSA varies by age. For example, a 35-year-old entering a 15-year term paying ₹470/month might have an MSA of approx ₹1 Lakh.

  3. Enter this value in Cell B4.

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Step 3: Find the Loyalty Addition (LA) Rate

Jeevan Saral does not earn a “bonus.” It earns a Loyalty Addition at the very end. This rate varies based on how many years the policy ran.

  • Approximate LA Rates (per ₹1,000 MSA):

    • 10 Years: ~250 – 300

    • 15 Years: ~500 – 600

    • 20 Years: ~700 – 850

  • Enter your estimated rate in Cell B5. (e.g., for 15 years, enter 550).

Step 4: The Formulas

Copy and paste these formulas into Column B of your Excel sheet:

  1. To Calculate Total Premium Paid (Optional context):In Cell B7 (Label: Total Invested), enter formula:

    =B1 * 12 * B2

  2. To Calculate Maturity Value (The Result):In Cell B6 (Total Maturity Value), enter formula:

    =B4 + (B4 * B5 / 1000)

Example Calculation

  • Monthly Premium: ₹2,000

  • Term: 15 Years

  • Maturity Sum Assured (from bond): ₹3,80,000 (Hypothetical based on age)

  • Loyalty Addition Rate: 600 (per 1000)

The Excel Math:

  1. LA Amount: ₹3,80,000 x ( 600/1000) = ₹2,28,000

  2. Total Maturity: ₹3,80,000 (MSA) + 2,28,000 (LA) = ₹6,08,000

Why is Jeevan Saral confusing?

Most users expect the return to be calculated on the “Death Sum Assured” (which is usually 250x the monthly premium).

  • Death Benefit: ₹250 x Monthly Premium + Return of Premiums + LA.

  • Maturity Benefit: Maturity Sum Assured (Specific to Age) + LA.