How Is Guaranteed Maturity Benefit Calculated?

What is the Maturity Benefit in Guaranteed Income Plan?

The Maturity Benefit in a Guaranteed Income Plan refers to the lump sum amount that is paid to the policyholder at the end of the policy's maturity period. This amount typically includes the sum assured and any accrued bonuses, if applicable, as per the terms of the policy.

How to Calculate Guaranteed Maturity Benefit?

Guaranteed maturity benefit refers to the amount of money that a company will pay out to an employee if they retire before their retirement age. The following formula is used to calculate Maturity Benefit.

Maturity benefit = Sum Assured + Bonus Amounts (Any Additional Bonus)

How much Would I Receive in Life Insurance Maturity Benefit?

A maturity benefit is paid by the insurance company as a lump-sum amount after the maturity of an insurance policy. Maturity benefit would be equal to the Sum Assured + Bonus Amounts + Additional Bonus if declared.

What is the Life insurance Policy with Maturity Benefits?

A life insurance policy with maturity benefits allows individuals to get double benefits from their current policy. Not only does your family get death benefits in case of your demise or permanent disability but also if you do live on throughout the term of maturity, there are additional benefits available. Therefore, instead of a simple life insurance policy where you stand to lose the premiums paid if you stay alive, it is a good idea to go for policies that provide maturity benefits.

How to Download Max Life Insurance Premium Receipt Online?

• Step 1: Open Google and Search for the “Max Life Insurance Customer Services” portal.
• Step 2: Click on Download Premium Receipt and then Log in to your account by using your policy number or client ID and date of birth.
• Step 3: Then click on the “Submit” button to request OTP.  Enter the OTP received to your registered mobile number and email.
• Step 4: Once logged in to your account, select premium receipts and year and then click on generate.
• Step 5: You can download your Max Life Insurance Premium Payment Receipt by selecting your policy or you can send it to your registered mobile number.

Also read to know more about Max Life Insurance: Premium Receipts, Surrender Value, Auto Pay

How to Check LIC Claim Status Online?

To check your LIC Life Insurance policy claim status online, follow these steps:

• Visit the official LIC life insurance official website.
• Log in to your LIC account using your username and password. If you don't have an account, you may need to register first.
• Once logged in, click on “Claim Status” on the life side menu.
• Then you will be able to check the status of your claim displayed on the screen. It will indicate whether your claim is under process, approved, or rejected.

How Can I Surrender My LIC Policy Online?

The process of surrendering an LIC life insurance policy online is easy. To surrender your LIC life insurance policy online, send an email to LIC life insurance customer service with the reason for surrendering the policy along with the required policy details and other documents. Once the surrendering form is submitted to the insurance provider, they will surrender the policy. The surrendering process may take some time to complete. Wait for confirmation from LIC Life Insurance that your policy has been successfully cancelled. Once the refund application is approved the refund amount is credited to your account. 

How to Check Fund Value of LIC Life Insurance Policy Online?

To check the fund value of your LIC (Life Insurance Corporation of India) life insurance policy online, follow these steps:

• Go to the official website of LIC.
• If you have already registered on LIC’s portal, log in using your username and password. If you haven't registered yet, you may need to create an account.
• Once you are logged in, navigate to the section that provides your policy details.
• After accessing your policy details, there should be an option to view the fund value of your policy.
• Additionally, you might be able to see the allocation of funds across different investment options if your policy offers multiple investment choices.

How to Download Edelweiss Tokio Life Insurance Statement?

To download an Edelweiss Tokio life insurance policy statement, you typically need to follow the below steps.

• Visit the official website of Edelweiss Tokio Life Insurance Company.
• Log into your account by providing your policy number and date of birth.
• If you haven't registered for an online account, you may need to create an account.
• Once logged in, find the option to download or view your policy statement.
• Verify that the document includes details such as policy coverage, beneficiaries, premiums, and any other relevant information.
• Then click on the relevant button to download the policy statement.
• If you encounter any issues, consider reaching out to your insurance company's customer support. They may be able to assist you in obtaining the necessary statements.