Jeevan Surabhi 15 Years Plan 106 Maturity Calculator

The Jeevan Surabhi 15 Years Plan 106 is a government-backed pension scheme in India that provides guaranteed returns on investments. This calculator helps you determine the maturity amount based on your investment and the scheme's interest rate.

What is Jeevan Surabhi 15 Years Plan 106?

Jeevan Surabhi 15 Years Plan 106 is a pension scheme offered by the Government of India through the Life Insurance Corporation (LIC). It's designed to provide financial security to individuals by offering guaranteed returns on their investments.

The scheme has the following key features:

Investment period: 15 years
Guaranteed interest rate: Typically around 7.5% per annum
Minimum investment: Varies by scheme variant
Tax benefits: Under Section 80C of the Income Tax Act
Maturity benefit: Guaranteed return on investment

The scheme is suitable for individuals looking for a long-term investment option with guaranteed returns and tax benefits.

How to Calculate Maturity Amount

The maturity amount of Jeevan Surabhi 15 Years Plan 106 can be calculated using the following formula:

Maturity Amount = Investment Amount × (1 + Interest Rate) ^ Number of Years

Where:

Investment Amount is the initial amount you invest
Interest Rate is the annual interest rate (typically 7.5%)
Number of Years is the investment period (15 years)

The calculator uses this formula to provide an accurate estimate of your potential maturity amount.

Example Calculation

Let's say you invest ₹50,000 in Jeevan Surabhi 15 Years Plan 106 with an annual interest rate of 7.5%.

Using the formula:

Maturity Amount = 50,000 × (1 + 0.075) ^ 15 Maturity Amount = 50,000 × 2.5937 Maturity Amount = ₹129,685

So, after 15 years, your investment would grow to approximately ₹129,685.

Assumptions and Limitations

The calculator makes the following assumptions:

The interest rate remains constant at 7.5% per annum for the entire 15-year period
No additional contributions are made during the investment period
No withdrawals are made before maturity

Note: Actual returns may vary based on market conditions and scheme-specific factors. This calculator provides an estimate based on typical assumptions.

Frequently Asked Questions

What is the minimum investment required for Jeevan Surabhi 15 Years Plan 106?: The minimum investment amount varies by scheme variant. Typically, it ranges from ₹1,000 to ₹10,000 depending on the specific plan you choose.
Are there any tax benefits associated with this scheme?: Yes, investments in Jeevan Surabhi 15 Years Plan 106 are eligible for tax deductions under Section 80C of the Income Tax Act, up to ₹1.5 lakh per financial year.
Can I withdraw money before the 15-year period ends?: No, Jeevan Surabhi 15 Years Plan 106 is a locked-in scheme, and premature withdrawals are not allowed. The investment must remain for the full 15-year term to receive the maturity benefit.
What happens if I die before the 15-year period ends?: In the event of the policyholder's death during the investment period, the nominee can claim the maturity amount. The scheme provides guaranteed returns even in such cases.
Is there any penalty for not paying premiums regularly?: Yes, if you fail to make the required premium payments, the scheme may terminate, and you may lose the guaranteed returns. It's important to maintain regular payments to ensure the maturity benefit.