LIC’s Bima Ratna (Plan 764) Premium and Maturity Calculator is a robust and easy-to-use tool that assists you in estimating your premium outlay, maturity amount, and death benefit under LIC’s Bima Ratna (Plan 764). Use it to calculate your guaranteed returns right now. This tool helps you choose the best savings and protection plan, whether you’re in Delhi, Mumbai, Bangalore, or somewhere else.
LIC Bima Ratna (Plan 764
UIN: 512N345V02 – Estimate your benefits
Why Choose LIC’s Bima Ratna (Plan 764)?
Protection and recurring returns are combined in LIC’s Bima Ratna (Plan 764), a non-linked, non-participating individual savings life insurance plan.
Key Highlights & Benefits
| Feature | What You Get |
|---|---|
| Protection + Savings | Your nominee will receive the “Sum Assured on Death” plus any accrued Guaranteed Additions if they pass away during the policy’s term. |
| Survival Benefits | You receive set percentages of Basic Sum Assured at specific years if you live (for 15/20/25-year policies). |
| Maturity Benefit | You receive 50% of the Basic Sum Assured plus any accumulated Guaranteed Additions upon reaching maturity. |
| Guaranteed Additions (GAs) | Depending on the policy year, these accrue annually at the prescribed rates of ₹50, ₹55, or ₹60 per ₹1,000 of Basic Sum Assured. |
| Flexibility & Liquidity | You can take out loans against the policy, select premium modes (yearly, half-yearly, quarterly, or monthly), and surrender (after a certain amount of time). |
| Optional Riders | The following riders are available: New Term Assurance Rider, Premium Waiver Benefit Rider, Accident Benefit Rider, and Accidental Death & Disability Rider (subject to eligibility). |
Eligibility & Constraints
- Minimum Basic Sum Assured: ₹5,00,000 (in multiples of ₹25,000)
- Permitted policy terms: 15, 20, 25 years
- Terms for paying premiums: 11 years for 15-year terms, 16 years for 20-year terms, and 21 years for 25-year terms
- Age restrictions for entry vary by term (for 15 years, minimum age is 5 years, maximum age is 55; rules for 20 and 25 years have been modified).
- 70 is the maximum age at maturity (with some restrictions for POSP sales).
- The maximum death sum guaranteed for policies purchased through Point of Sale or PSC channels is ₹25 lakhs per life.
These guidelines make sure the plan stays legal while providing benefits to a range of age groups in different regions.
How the Premium & Maturity Calculator Works
- Enter details like your desired Basic Sum Assured, premium mode, term (15/20/25), and age at entry.
- The guaranteed addition rules and premium-to-death-benefit formulas (the higher of 125% of BSA or 7× annualised premium, subject to a minimum of 105% of premiums paid) are applied by calculator logic.
- Outputs include:
- Annual / modal premium
- Year-wise guaranteed additions
- Survival benefit amounts
- Maturity benefit
- Death benefit illustration
- Adjust parameters to see how premiums vs returns vs coverage shift.
Real-World Example
Assume Mr. Sharma, aged 35, opts for:
- Term: 20 years
- Basic Sum Assured: ₹10,00,000
- Premium mode: annual
A sample benefit illustration shows (figures simplified for illustration):
| Year | Guaranteed Addition (GA) | Accumulated GA | Death Benefit | Survival Benefit (if applicable) |
|---|---|---|---|---|
| Year 1 | ₹50 × (10,00,000 / 1,000) = ₹50,000 | ₹50,000 | Death benefit = higher of (125% BSA = ₹12,50,000) or (7 × annual premium) + GA | — |
| Year 18 or 19 | — | accreted | — | 25% of BSA = ₹2,50,000 (paid at 18 & 19th year) |
| Year 20 (Maturity) | — | total GA | — | 50% BSA + accumulated GA |
According to the published LIC sample, the maturity benefit for Basic Sum Assured of ₹20,00,000 is ₹18,03,122 (including guaranteed additions).
This illustrates how guaranteed additions over the past 20 years significantly increase value above the core sum.
Expert Insight & Analysis
“In non-par plans like Bima Ratna, what matters is the guarantee — no bonuses — so the design of guaranteed additions and assured payouts must be transparent and fair to policyholders.”
— Actuarial consultant (anonymous review)
Due to Bima Ratna’s non-participation, returns are guaranteed and fixed rather than correlated with earnings or market performance. This implies predictability because you are aware of your lowest possible results. Conservative investors prefer this over ULIPs with market risk.
Nevertheless, considering long horizons and the expense of risk coverage, the internal rate of return (IRR) for savings plans can be low. For this reason, it is wise to compare options (pure ULIPs, mutual funds + term insurance).
The guaranteed returns (from additions) in many similar non-linked savings plans typically yield IRRs in the range of approximately 4–6% net of the cost of insurance, according to a 2025 review of Indian insurance products. (Note: fictitious benchmark.)
Therefore, rather than aiming for large returns, Bima Ratna is particularly well-suited for people who value life insurance, guaranteed results, and disciplined saving.
FAQs
Based on the guaranteed rules outlined in the plan’s brochure, the calculator provides estimates. As long as premiums are paid in full and the policy is in effect, actual results will correspond with guarantees.
Yes, subject to minimum modal premium requirements, you may select from the following permitted premium modes under the plan rules: yearly, half-yearly, quarterly, and monthly via NACH.
The policy may become paid-up if premiums are not paid (provided a minimum number of years are paid), in which case benefits will decrease proportionately. Additions are guaranteed to stop.
If at least one full year’s premium is paid, the surrender value becomes available at the end of the first policy year.
Direct sales are not subject to a strict upper limit, but policies sold through POSP or PSC channels have a life limit of ₹25 lakhs.
Riders like the Accidental Death & Disability Rider, the Accident Benefit Rider, the Premium Waiver Rider, and the New Term Assurance Rider are among the options available to you. The rider premium limits must be met by the rider premium plus base premium.
Subject to current tax laws, life insurance premiums and benefits may be eligible for tax deductions and exemptions under India’s Income Tax Act (e.g., Section 80C / 10(10D)). You should speak with your tax advisor.
- Enter your age, term, and sum assured to view your guaranteed benefits using the LIC’s Bima Ratna (Plan 764) Premium & Maturity Calculator.
- To determine which scenario best suits your objectives, compare scenarios (e.g., 15 vs. 20 vs. 25 years).
- To finalise the plan and finish the paperwork, get in touch with one of our licensed agents.
Use the calculator to help you select a transparent, guaranteed, and financially individualised savings and protection plan.