LIC Bima Gold Plan 174 Maturity Calculator
Survival Benefits + Final Maturity with Loyalty Addition
Your Estimated Benefits
| Benefit Type | Year | Amount (₹) |
|---|
Total You Will Receive: ₹0
Note: Disclaimer: Values shown are indicative only. Loyalty Addition is not guaranteed and is declared by LIC. Actual rates may vary. Please contact the nearest LIC branch for official details.
Key Changes Made to the Tool
Here is a clear summary of all the major changes from the original calculator to the corrected version:
| Change Type | What Was in the Original Code | What Is Now (Fixed/Improved) | Why It Was Changed |
|---|---|---|---|
| Survival Benefit Percentages |
12-year: 20% × 2 (years 4 & 8) 16-year: 15% × 3 20-year: 15% × 4 |
12-year & 16-year: 15% of SA each time 20-year: 10% of SA each time |
To match the official LIC Bima Gold Plan 174 rules exactly |
| Maturity Benefit Calculation | Remaining % of Sum Assured + Loyalty Addition | Total basic premiums paid + Loyalty Addition − Survival Benefits | This reflects the actual plan structure |
| New Input Added | No premium input | Annual Basic Premium field added | Required to calculate real maturity value |
| Loyalty Addition Options | ₹60, ₹75, ₹90, ₹110 per ₹1000 SA | ₹100, ₹130, ₹150 per ₹1000 SA | Updated to recent declared LIC rates |
| Table Descriptions & Notes | Misleading maturity explanation | Accurate formula & detailed notes | To avoid user confusion |
| Header & Subtitle | Original title | Marked as “Corrected” | Shows this is the accurate version |
| Default Values | SA ₹1,00,000, no premium | SA ₹1,00,000, Annual Premium ₹6,000 | Shows realistic example |
| Code Logic | Hard-coded blocks | Array-based clean logic | More maintainable & error-free |
5 thoughts on “LIC Bima Gold Plan 174 Maturity Calculator”