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How to arrive at the claim amount on my LIC policy?

amount payable under a policy in settlement of its claim depends upon its status as on date of death. In case of a reduced paid-up policy which has not been specifically enclosed for paid-up conversion, LIC will pay the claim for the full sum assured instead of the paid up value provided certain conditions are satisfied:

The life assured died within 6 months from the due date of the first unpaid premium.

Premiums under the policy have been paid for a minimum period of 3 full years. Claims concession is not available on certain policies during the deferment period in case of Children's Deferred Endowment Assurance, Temporary Assurance and Convertible Term Assurance. Extended claims concession is an extension of the regular claims concession. Here, the claim for the full sum assured is payable under a reduced paid-up policy provided two conditions that:

The life assured died within one year from the due date of the first unpaid premium five years after the deferred date in case of CDA policies.

Premiums under the policy have been paid for a minimum of 5 years. However the claims concession is subject to the deduction of:

The premium or premiums unpaid with interest thereon up to the date of death. Unpaid premiums falling due before the next anniversary of the policy (except in Fixed-Term (Marriage) Endowment and Educational Annuity plans).