How to Calculate LIC Maturity Amount

Step-by-step guide with formula, examples, and free calculator. Works for all LIC endowment, money back & whole life plans.

✍️ By Team Lic Calculator 🔍 Reviewed by Haresh Hirapara (20+ yrs in Insurance) 📅 Updated: July 2026 ✅ Expert Verified
📌 Quick Answer

LIC Maturity Amount = Sum Assured + Accrued Bonus + Final Additional Bonus (FAB). For example, a Jeevan Anand policy with ₹10L SA held for 20 years gives approximately ₹10L + ₹10L (bonus) + ₹2.2L (FAB) = ₹22.2 Lakh. For Money Back plans, survival benefits paid during the term are separate, and only the remaining SA percentage is paid at maturity.

📋 Table of Contents
  1. The Maturity Formula
  2. 3 Components Explained
  3. Step-by-Step Calculation (Endowment)
  4. Money Back Plan — Different Formula
  5. Plan-Wise Maturity Examples (₹10L SA)
  6. Use Our Free Calculator
  7. Frequently Asked Questions

The Maturity Formula

For all standard LIC endowment plans, the maturity amount is calculated using this formula:

Maturity Amount = Sum Assured + Accrued Bonus + FAB

For Money Back plans, the formula is slightly different:

Maturity Payout = (Remaining % of SA) + Accrued Bonus + FAB
+ Survival Benefits already received during the term

3 Components Explained

① Sum Assured (SA)

The guaranteed base amount you chose when buying the policy. This is the minimum amount payable at maturity (or on death). Common values: ₹5 Lakh, ₹10 Lakh, ₹25 Lakh. The SA never changes during the policy term.

② Simple Reversionary Bonus

LIC declares a bonus rate every year (e.g., ₹50 per ₹1,000 SA). This bonus accumulates over all policy years. Once declared, it is guaranteed and cannot be taken back. Formula: Bonus Rate × (SA ÷ 1,000) × Number of Years.

③ Final Additional Bonus (FAB)

A one-time bonus paid at maturity for policies with terms of 15+ years. The FAB rate depends on the policy term — longer terms get higher FAB. Formula: FAB Rate × (SA ÷ 1,000). This is NOT guaranteed in advance.

Step-by-Step Calculation — Jeevan Anand (₹10L, 20yr)

Let's calculate maturity for a New Jeevan Anand (Plan 715) policy with ₹10,00,000 SA and 20-year term:

📝 Step-by-Step Calculation
1
Identify the Sum Assured

SA = ₹10,00,000

2
Calculate Total Bonus

Bonus rate for Plan 715 ≈ ₹50 per ₹1,000 SA
Bonus per year = 50 × (10,00,000 ÷ 1,000) = ₹50,000/year
Total bonus for 20 years = 50,000 × 20 = ₹10,00,000

3
Calculate FAB

FAB rate for 20-year term ≈ ₹220 per ₹1,000 SA
FAB = 220 × (10,00,000 ÷ 1,000) = ₹2,20,000

✓
Add All Components

Maturity = ₹10,00,000 + ₹10,00,000 + ₹2,20,000
= ₹22,20,000 (approximately)

Money Back Plan — Different Formula

Money Back plans pay survival benefits during the term, so the maturity payout is lower — but the total benefit is similar. Here's how it works for Plan 720 (Money Back 20 Years):

WhenWhat You ReceiveAmount (₹10L SA)
End of Year 5Survival Benefit — 20% of SA₹2,00,000
End of Year 10Survival Benefit — 20% of SA₹2,00,000
End of Year 15Survival Benefit — 20% of SA₹2,00,000
At Maturity (Year 20)40% SA + Bonus + FAB₹4L + ₹10.4L + ₹2.3L
Total Benefit~₹22,70,000

*Bonus rate ₹52/1000, FAB ₹230/1000 for Plan 720. These are approximate estimates.

Plan-Wise Maturity Examples — ₹10L SA, 20-Year Term

Here's a quick comparison of estimated maturity for popular plans (Age 30, ₹10,00,000 SA, 20-year term where available):

PlanBonus RateTotal BonusFABEst. Maturity
Jeevan Anand (715) ₹50₹10,00,000₹2,20,000 ₹22,20,000
New Endowment (714) ₹48₹9,60,000₹2,10,000 ₹21,70,000
Money Back 20 (720) ₹52₹10,40,000₹2,30,000 ₹22,70,000*
Jeevan Lakshya (733) ₹46₹9,20,000₹2,10,000 ₹21,30,000
Jeevan Umang (745) ₹45₹9,00,000₹2,15,000 ₹21,15,000**

*Money Back total includes ₹6L survival benefits paid during term. **Jeevan Umang maturity at age 100; also pays 8% SA yearly after PPT. All amounts are approximate estimates based on current bonus rates. Actual amounts may vary. Source: licindia.in

Use Our Free Maturity Calculator

Instead of calculating manually, use our free online calculator that does all the math instantly:

🧮
LIC Maturity Calculator

Enter your plan, age, SA, and term — get instant maturity estimate with bonus & FAB breakdown.

Calculate Maturity Amount →

💡 Expert Tip (Haresh Hirapara): The maturity amounts shown above are estimates based on current approximate bonus rates. Actual maturity depends on the bonus rates LIC declares each year, which can vary. For the confirmed maturity amount, contact your LIC branch 6 months before your policy's maturity date.

Frequently Asked Questions

How is LIC maturity amount calculated?+
LIC maturity = Sum Assured + Accrued Bonus + Final Additional Bonus (FAB). The bonus is calculated as Bonus Rate × (SA ÷ 1,000) × Number of Years. For example, ₹10L SA with ₹50/1000 bonus for 20 years: Maturity ≈ ₹10L + ₹10L + ₹2.2L = ₹22.2L. For Money Back plans, survival benefits are paid separately during the term.
What are the 3 components of LIC maturity?+
The 3 components are: (1) Sum Assured — the guaranteed base amount, (2) Simple Reversionary Bonus — annual bonus accumulated over all years, and (3) Final Additional Bonus (FAB) — a one-time bonus at maturity for policies with 15+ years term. Some plans like Jeevan Labh also include a Loyalty Addition.
How to check LIC maturity amount online?+
You can estimate your maturity using our free Maturity Calculator. For the official confirmed amount, log in to the LIC customer portal at licindia.in, or call LIC at 1800-2579 (toll free), or visit your nearest LIC branch with your policy number.
Is LIC maturity amount guaranteed?+
The Sum Assured is 100% guaranteed. Bonus already declared and added is also guaranteed. However, the bonus rate for future years is not guaranteed — it depends on LIC's annual valuation. FAB is also not confirmed until maturity. So the exact maturity amount can only be known closer to the maturity date. Our calculator provides an approximate estimate based on current rates.
What is the difference between Endowment and Money Back maturity?+
Endowment (714, 715): Full SA + Bonus + FAB paid as one lump sum at maturity. Money Back (720, 721): Survival benefits (15-20% of SA) paid at regular intervals, and at maturity only the remaining SA % (typically 40%) + Bonus + FAB is paid. The total benefit across both is similar, but Money Back gives you liquidity during the term.
⚠️ Disclaimer

This article is for educational and informational purposes only. LIC-Calculator.com is not affiliated with LIC of India. All maturity amounts shown are approximate estimates based on current bonus rates. Actual maturity depends on LIC's annual bonus declarations and may vary. For confirmed maturity amount, visit licindia.in.

This is not financial advice. Please consult a certified financial advisor before making insurance decisions.

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