LIC Commission Calculator Btech CSE Mini Project

LIC Agent commission calculator mini project for B tech CSE , using HTML5 and pure JavaScript we can easily complete this project . First we need to understand how agent commission calculated ..

Calculating LIC (Life Insurance Corporation of India) agent commission involves several factors, including the type of insurance policy, the premium amount, and the commission rate. As of my last update in September 2021, LIC’s commission rates were as follows:

Endowment Plans: 25% of the premium for the first year and 2.5% for the second and third years.
Single Premium Endowment Plans: 2% of the premium amount.
Term Assurance Plans: 7.5% of the premium for the first year and 2.5% for the second and third years.
Health Insurance Plans: 7.5% of the premium for the first year and 5% for renewals.
Other plans: The commission rates may vary, and you should check with LIC for specific details.

LIC Agent Commission Demo

Source Code :

<!doctype html>
<html lang="en">
<head>
<meta charset="UTF-8">
<title>LIC Commission</title>
</head>
<body>
<h1 style="font-size:22px;">LIC Commission calculator</h1>
<input type="text" id="instP" placeholder="Installment Premium *" required/><br/>
<input type="text" id="ppt" placeholder="Enter Paying Term *" required/>
<br/>
<button onclick="calc()" >Calculate</button>
<br/>
<div id="total"></div>
<div id="bonus"></div>
<div id="tbonus"></div>
<script>
var instP=document.getElementById("instP").value;
var ppt=document.getElementById("ppt").value;
var firstYr, secTh, total, bonus,tbonus;
var ryr=(ppt-3)*12;
bonus=parseFloat(instP*0.1*12);
firstYr=parseFloat(instP*0.25*12);
secTh=parseFloat(instP*0.075*24);
remYr=parseFloat(instP*0.05*ryr);
total=firstYr+secTh+remYr;
tbonus=total+bonus;
document.getElementById("total").innerHTML="Total : "+total.toFixed(2);
document.getElementById("bonus").innerHTML="Bonus : "+bonus.toFixed(2);
document.getElementById("tbonus").innerHTML="Gross : "+tbonus.toFixed(2);
}
</script>
</body>
</html>