If you dont see your policy here feel free to reach out to us and we will get back to you with your loan details!

Calculation Example

LIC's Jeevan Lakshya

The name of your policy. Can be found at the top of your policy document and is the first variable you need to select.

Premium Payments - Rs 2000

The amount you are paying per pre determined period towards your life insurance policy.

Start Year - 2011

The year in which you began paying towards your life insurance policy.

Basic Sum Assured - Rs. 500,000

This is the fixed amount the policy beneficiary is entitled to on the occurrence of the insured event.

Premium Frequency - Monthly

The frequency with which you are making your premium payments.

Policy Term - 20 Years

The number of years after which your policy will have matured.
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Loan Amount - Rs. 168,126

Tenure - 5 Years

Interest Rate - 10% (Fixed)

Repayment Frequency - Every Month

In addition to the information you provided, we utilize policy-specific calculations and historical data, including bonus amount, surrender value factors and bonus factors. By combining all these elements, we arrive at the Estimated Surrender Value, of which 85% is your loan value!

Our Loan Against Insurance Calculator is designed to help you make the most of your insurance policy. Taking a loan against your insurance policy can often be more financially beneficial than surrendering it. Our calculator provides an easy way to understand the financial implications and potential benefits of borrowing against your life insurance policy.

Loans against insurance policies essentially allow you to access liquidity up to 90% of the current surrender value of your policy without having to incur any surrender loss. This allows you to access funds without forfeiting the valuable protection your policy offers.

Loans against life insurance offer lower interest rates compared to traditional unsecured loans, thanks to the security provided by your policy. Also known as a life insurance loan, whereby you can leverage your insurance policy as collateral, a loan using your insurance policy can be a good alternative to pledging precious gold jewelry in times of cash flow stress.

IRDAI data shows that over 40% of policyholders either surrender or allow their policies to lapse within 2 years of purchasing them, likely due to liquidity requirements. Don’t join this group! You could access the funds you need and continue to maintain your insurance coverage by exploring a loan using your insurance policy. Use this tool to explore your insurance policy loan eligibility and make an informed decision around whether taking a loan is a financially prudent and feasible option for you.