LIC calculator

LIC Premium Calculator | CodeInsure Blog

LIC Premium Calculator

Professional Insurance Tech Blog

Premium Calculator

Estimated Annual Premium:

₹0

How This Calculator Works

This calculator uses simplified actuarial formulas to estimate LIC premiums. The actual premium may vary based on several factors.

Technical Implementation

Here's the core JavaScript logic for premium calculation:

function calculatePremium(plan, sumAssured, age, term) {
    // Base premium factors for different plans
    const planFactors = {
        '914': 0.0052, '915': 0.0058, '933': 0.0061, 
        '936': 0.0055, '850': 0.0072, '855': 0.0065,
        '856': 0.0068, '860': 0.0059
    };
    
    const ageFactor = 1 + (age - 18) * 0.015;
    const termFactor = 1 + (term - 5) * 0.008;
    
    return sumAssured * planFactors[plan] * ageFactor * termFactor;
}

Blog Integration

This calculator can be embedded in blog posts about:

  • Insurance technology
  • Financial planning
  • Actuarial science basics
  • Web development tutorials

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