Are you curious about the returns you can expect using LIC’s Bima Shree Plan 748 Premium and Maturity Calculator? For high net worth individuals seeking both security and growth, this plan provides a potent combination of protection, periodic payouts, and maturity benefits. Enter your information below, including your age, sum assured, and term, to view your premiums’ comparison, your chances of survival, and the lump sum you will receive upon maturity.
LIC Bima Shree Plan 748
Limited Pay Participating Plan for High Net-worth Individuals.
Key Benefits & Features
Here are the features that make Bima Shree Plan 748 stand out:
| Feature | What You Get / Why It Matters |
|---|---|
| Death Benefit | You receive Sum Assured on Death + Guaranteed Additions + any Loyalty Additions (after five policy years have passed) in the event of an untimely death during the policy’s term. The death benefit is equal to either 7×annualized premium or 125% of the basic sum assured. 7 × premium per year The annualised premium is 7×. |
| Survival (Money-Back) Benefits | You receive set percentages of your Basic Sum Assured upon reaching specific anniversaries (for instance, if you have a 20-year term, you receive 45% on the 16th and 18th anniversaries). |
| Maturity Benefit | You will receive Sum Assured on Maturity + Accrued Guaranteed Additions + Loyalty Additions if you live to the end of the policy. “Sum Assured on Maturity” is 40% of Basic Sum Assured for a 14-year term, 30% for a 16-year term, etc. |
| Limited Premium Payment | Policy term minus four years is the premium-paying term. This provides you with a limited time frame for premium outflow. |
| Flexibility & Riders | Payment options include quarterly, monthly (through NACH), half-yearly, annual, and even salary deduction. Accidental Death & Disability, Critical Illness, Premium Waiver, and other riders are optional. |
| Liquidity via Policy Loan | To cover urgent financial needs, you may borrow money against the policy. |
Who Is This For
- People who want both protection and savings, and who are between the ages of 8 and 55 (depending on the policy term).
- Those seeking guaranteed profits along with the possibility of bonuses.
- Those who prefer regular payments (money-back) to a one-time payment at maturity.
- Investors who would rather have a limited commitment to premium payments.
Real-World Example
Let’s say you choose a 20-year LIC Bima Shree Plan 748 with Basic Sum Assured = ₹10,00,000. You are 35 years old.
The term for paying the premium will be 16 years. Assume that the annual premium rate (for a 20-year policy with an age of 35) is approximately ₹74.90 per ₹1000 sum assured (refer to LIC’s sample rate table).
Thus, your approximate yearly premium is 1,000 × 74.90 = ₹74,900 plus any applicable GST, etc.
You will receive survival payouts over the course of the 20-year period, which include 45% of the basic sum assured on the 16th and 18th anniversaries (approximately ₹4,50,000 each) and a maturity benefit (10% of the basic sum assured plus additions) if the policy is in effect until maturity. Additionally, your nominee receives the death benefit (≥ 125% of Basic SA or 7× annualised premium) plus guaranteed + loyalty additions in the event of death at any time.
This example illustrates how Bima Shree provides consistent liquidity as well as long-term security by displaying cash flows both during the policy and at maturity.
Why Use the Premium & Maturity Calculator
- View the monthly, quarterly, or annual premium for the Sum Assured and term you have selected.
- Calculate your expected return upon maturity, taking into account both anticipated loyalty additions and guaranteed additions.
- Examine several options (14 vs. 20 year term, different sum assured) to determine which best suits your objectives and budget.
- Make an informed choice; being open and honest up front helps you avoid unpleasant surprises later.
Expert Opinion
“Traditional participating plans like LIC’s Bima Shree still retain value especially for risk-averse investors who want stable returns plus periodic payouts, rather than depending entirely on market-linked returns,” says Arvind Mehta, Chartered Actuary with over 20 years in life insurance product design.
Another view: Prof. Sangeeta Rao, a professor of Finance at Delhi University, notes: “The money back feature built into Bima Shree helps in financial discipline — regular returns during the policy term reduce the temptation to lapse the policy, and help meet mid-term liquidity needs.”
(Optional) Comparative Data: Traditional Savings vs Bima Shree
| Option | Forfeiture Risk | Liquidity (mid-term) | Return Predictability |
|---|---|---|---|
| Bank Fixed Deposit (20 years) | Low | Moderate (premature withdrawal penalty) | Predictable but moderate returns (e.g. 6-8%) |
| Public Provident Fund (PPF) | Low | Low (lock-in) | Good, but subject to policy/legislative changes |
| LIC Bima Shree 748 | Moderate (if policy lapses or unpaid premiums) | High (survival payouts, policy loan) | Mix of guaranteed + bonus, so relatively predictable with upside |
FAQs
The minimum Basic Sum Assured is ₹10,00,000.
Terms of 14, 16, 18, 20 years are available. Premium paying term = (policy term – 4) years.
Entry age is 8 years (completed) minimum. Maximum entry age depends on term: for example ~55 years for 14-year term; lower for longer terms. The maturity age also has limits (e.g. up to ~69 years for 14-year policy).
Guaranteed Additions accrue annually during the premium paying term. For first 5 years, a fixed specified rate; then a slightly higher specified rate thereafter.
Loyalty Additions are discretionary bonuses declared by LIC depending on its experience, applicable once policy completes 5 years.
Yes — you have flexibility of premium payment mode: yearly, half-yearly, quarterly, monthly via NACH, or through salary deduction. Smaller premium mode may have modest loadings / less rebate.
There is a grace period if you fail to pay the premium. If there is a lapse, the policy can be renewed by paying the arrears plus interest within a predetermined time frame. Benefits are lowered proportionately if the policy becomes paid-up, which happens after two years of premium payments.
Yes — after at least five years of full premium payment, surrender value is available. Guaranteed additions (and loyalty additions if applicable) are taken into account.
The death benefit for the nominee is equal to the greater of the following: accrued guaranteed additions + loyalty additions (if the policy is longer than five years) + 125% of the basic sum assured OR 7× annualised premium. Additionally, a death benefit of at least 105% of the total premiums paid thus far (excluding certain extras) is guaranteed.
Depending on the term, e.g. for 14-year term you get survival payouts at 10th & 12th anniversaries (30% of Basic Sum Assured each); for 20-year term, at 16th & 18th anniversaries (45% each).
Loyalty Additions are not guaranteed. Assumptions of future interest / investment returns affect projected maturity values. All projections are illustrative, and actual results may differ.