Calculating your LIC premium before buying is essential - it helps you plan your budget and compare plans. Here is a step-by-step guide.

What you need to calculate premium:

  1. ▸Your age at entry (nearer birthday)
  2. ▸Sum assured (SA) - the coverage amount you want
  3. ▸Policy term - how many years you want the policy
  4. ▸Payment mode - yearly, half-yearly, quarterly, or monthly

How LIC calculates premium: Base premium = Tabular rate (₹ per ₹1,000 SA) × SA/1000

Then add:

  • ▸GST: 4.5% (year 1), 2.25% (year 2+) for endowment plans
  • ▸Mode loading: Monthly adds ~8%, quarterly ~4%, half-yearly ~2%
  • ▸Deduct: SA rebate for high SA (above ₹2L), age rebate for younger age

Using the Poddar Wealth premium calculator:

  1. ▸Go to poddarwealth.com/calculators/premium
  2. ▸Select the plan (or enter plan number)
  3. ▸Enter age, SA, and term
  4. ▸Click calculate - see annual, monthly, and total outgo

Example - Jeevan Anand (914):

  • ▸Age 30, SA ₹5,00,000, Term 20 years
  • ▸Annual premium (approx): ₹28,900
  • ▸Monthly equivalent: ₹2,408

Important note: Online calculators give estimates. Actual premium depends on your specific age in completed years, exact SA, and policy terms. Always confirm with the agent before payment.

Call 9415313434 or WhatsApp to get exact premium for your requirements.