Easy Underwriter – Medical and Financial Online Underwriting Calculator – LIC
Easy Underwriter is an online underwriting calculator which can help you to get Medical and Financial underwriting suggestions of LIC policies in few simple steps. Medical and Financial underwriting of LIC policies are becoming more and more complex day by day, owing to new categories and sub categories being introduced by LIC. Easy Underwriter, being an online software,is intended to help you in all situations and is also mobile optimised. If you are unable to view the calculator click here to load the html version of the page.
Financial Underwriting – Income multiples
| Age Group | Less than 10 Lakh Income | More than 10 Lakh Income |
|---|---|---|
| Up to 35 Years | 25 times of Income | 30 times of Income |
| 36 to 45 Years | 20 times of Income | 25 times of Income |
| 46 to 50 Years | 12 times of Income | 20 times of Income |
| 51 to 55 Years | 12 times of Income | 15 times of Income |
| 56 Years and Above | 10 times of Income | 10 times of Income |
| (Average of 3 Years) | (Average of 3 Years) |
Underwriting of Minor Lives and Major students – Easy Underwriter
- Maximum Rated up Sum Assured allowed is 200 lakhs subject to Parents Insurance and adequacy of Income.
- With out matching parents insurance- with PWB 25 lakhs and without PWB 10 lakhs SA only allowed.
- For major students maximum TRSA allowed is 200 lakhs with and without parents insurance.
Download Important circulars on Underwriting – LIC
- LIC Circular on Underwriting rules
- LIC Circular on Female lives
- LIC Circular on Financial Underwriting
- LIC Circular on Revision of MHR Limits
- LIC Circular on Introduction of LIC’s Critical Illness Rider.
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Anish L J is a ‘Financial Planner’ and member of Chartered Insurance Institute(CII), London and Insurance Institute of India. He is also a finance, insurance and software consultant. He thoroughly follows the developments in finance, insurance, and other related sectors.
Wow.. Superb and Very Nice Work..
Thank you very much… If you have any suggestions please let me know..
it’s a good funda i like it because everything’s are inbuilt in this software
Sir update according to new underwriting rules in LIC
Yes Sanjeev,
I shall do it soon.
sir even to get minimum SA of 25 lac ITR is must ??? if we can show bank statement of some good amount then also is it not worth pls confirm.i mean is there any mean to get ensured with minimum SA, i was looking for my mom as she is not earning, pls guide
For Term insurance, bank statement cannot be used as income proof. It can be used as supporting proof as per AML (Anti-money laundering Act) guidelines only. Please check the calculator.
Very very good knowledge for underwriting
Thank you. And happy to know that it was useful to you..
Major student study B.Ed has no income on behave father income can cover SA 1 karore with out matching parents insurance
It is not possible. Insurance above 20 lakh requires parents insurance and income proof.