LIC Bima Financial Calculator
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About LIC Bima Financial Calculator
The calculator, contains 12 functions, explained here in below.
1.Create Fund: An Endowment type of policy is about creating a fund to meet a financial goal viz. meeting expenses for wedding, education, old age provision, etc.(in addition to providing risk cover to replace the income of the breadwinner in the event of his unfortunate early death.). To start a meaningful dialog with the prospect he/she has to know the amount that would be needed; approximate duration after which it would be needed; the impact of inflation and how much he/she has to save at periodical intervals, (without making a reference to life insurance). This educates her/him. This prepares one to meet the future. When he sees the amount he has to save and nods in approval, it signals a form of commitment to pay.Saving through a life insurance policy offers very superior advantages. The "Create Fund" working is an enabler in sale of Endowment Policy.
2. Build Life Time Pension. This function tells the amount of pension a person would require after taking into account the impact of inflation. In fact, it is an exercise to inform the prospect, how much corpus would be required to generate the monthly pension, he/she would require after retirement. It also tells, how much he/she has to save periodically to build that corpus.
3. IRR (Internal Rate of Return): We very often see people struggling to find the rate of return in a particular financial instrument. In the student days, we use to workout IRR thru the use of XL. Here, it is worked out in a simple way. And it allows the user to play with multiple payments and multiple withdrawals, without much hassle.
4. Accumulated Value of Recurring Deposits.
5. Maturity Value of a fixed deposit.
6. Present Value of an Amount.
7. Present Value of several Amounts ( an annuity).
8. EMI calulation.
9. Find Interest Rate in an EMI.
10.Working out Loan Interest.
11. Find Late Fee/Revival Dues in an LIC policy.
12. Calculate Dating Back Interest in an LIC policy.
on 25.2.2016, 13th function .. HLV calculation has been added.
1.Create Fund: An Endowment type of policy is about creating a fund to meet a financial goal viz. meeting expenses for wedding, education, old age provision, etc.(in addition to providing risk cover to replace the income of the breadwinner in the event of his unfortunate early death.). To start a meaningful dialog with the prospect he/she has to know the amount that would be needed; approximate duration after which it would be needed; the impact of inflation and how much he/she has to save at periodical intervals, (without making a reference to life insurance). This educates her/him. This prepares one to meet the future. When he sees the amount he has to save and nods in approval, it signals a form of commitment to pay.Saving through a life insurance policy offers very superior advantages. The "Create Fund" working is an enabler in sale of Endowment Policy.
2. Build Life Time Pension. This function tells the amount of pension a person would require after taking into account the impact of inflation. In fact, it is an exercise to inform the prospect, how much corpus would be required to generate the monthly pension, he/she would require after retirement. It also tells, how much he/she has to save periodically to build that corpus.
3. IRR (Internal Rate of Return): We very often see people struggling to find the rate of return in a particular financial instrument. In the student days, we use to workout IRR thru the use of XL. Here, it is worked out in a simple way. And it allows the user to play with multiple payments and multiple withdrawals, without much hassle.
4. Accumulated Value of Recurring Deposits.
5. Maturity Value of a fixed deposit.
6. Present Value of an Amount.
7. Present Value of several Amounts ( an annuity).
8. EMI calulation.
9. Find Interest Rate in an EMI.
10.Working out Loan Interest.
11. Find Late Fee/Revival Dues in an LIC policy.
12. Calculate Dating Back Interest in an LIC policy.
on 25.2.2016, 13th function .. HLV calculation has been added.
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Android
2.2+
2.2+
Android app
App History & Updates
What's Changed
Back Date Interest modified
Back Date Interest modified
Version update LIC Bima Financial Calculator was updated to version 1.5
More downloads LIC Bima Financial Calculator reached 1 000 - 5 000 downloads
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