Are you protecting your finances now while making plans for the future? To find out how to balance life insurance and savings, use the LIC’s Bima Jyoti (Plan 760) Premium and Maturity Calculator. With guaranteed maturity and death benefits, LIC’s Bima Jyoti is a non-linked, non-participating individual life assurance savings plan that provides you and your loved ones with financial security and peace of mind.
LIC Bima Jyoti (Plan 760) Calculator
Estimate Guaranteed Returns & Benefits for LIC’s Bima Jyoti Plan.
Key Features & Benefits
| Feature | What It Means for You |
|---|---|
| Life cover + savings | The nominee will receive the Sum Assured on Death plus Guaranteed Additions if the policyholder passes away during the policy term (after the risk began). You receive your Basic Sum Assured plus Guaranteed Additions if the policy lasts until maturity. |
| Guaranteed Additions | ₹ 50 for every ₹ 1000 Basic Sum As long as premiums are paid, Assured is added every policy year. |
| Flexibility in term | The duration of the policy can be 15, 18, or 20 years. The policy term less five years is the premium-paying term. |
| Minimum & Maximum ages | 90 days old for entry; for typical cases, up to 60 years old. Depending on the policy, maturity ages range from 18 to 75. |
| Loan facility | You can take out a loan under the policy (up to 90% of surrender value) once you have paid premiums for at least two full years; if the policy is paid up, you can borrow up to 80%. |
| Riders & Optional Benefits | For an additional fee, you can choose add-ons like critical illness, accidental death or disability, and premium waiver. |
| Surrender / Paid-up | The policy becomes paid-up and surrender value is available if premiums are stopped (after at least two full years). |
Real-World Example
Here is an example for a 35-year-old standard life policy with a 20-year policy term and a Basic Sum Assured of ₹10,00,000 (i.e., ₹10 lakh) to show how the numbers work:
- Premium per year: ₹1,15,667 (taxes excluded)
- The death benefit upon death following the start of the risk is ₹12,50,000, or 125% of the basic sum assured, plus accrued guaranteed additions.
- After 20 years, if the policy is fully paid for and in effect, the maturity benefit is equal to the Basic Sum Assured plus all guaranteed additions accrued during the policy’s years. (The brochure’s example values indicate that, depending on guaranteed additions and other factors, the maturity benefit for a basic sum of ₹10 lakh in 20 years can reach approximately ₹22–23 lakhs.)
Why Choose LIC’s Bima Jyoti
- Returns are assured with no market risk; since the benefits are fixed (non-linked), you are not impacted by changes in stocks or funds.
- One plan offers the dual benefits of savings and protection.
- Liquidity through policy loans and, if necessary, surrender/premium waiver riders.
- Rebates: You may receive premium rebates for online purchases or high sum assured.
How the Premium & Maturity Calculator Helps You
- Calculate the annual, half-yearly, quarterly, or monthly premium you will pay for the selected sum assured and policy term.
- See the maturity benefit that comes from surviving to the end.
- Recognise the death benefit that the nominee will receive.
- Examine various policy durations (15, 18, or 20 years) or modes of payment (annual, monthly, etc.).
- Take riders and any premium-paying modifications (such as rebates or frequency loadings) into account.
FAQs
₹1,00,000 (one lakh rupees), in multiples of ₹25,000.
If the insured is under 8 years of age at entry, risk starts from the earliest of (a) 2 years from policy commencement or (b) the policy anniversary coinciding with or immediately after the insured turns 8.
If age at entry is 8 or more, risk begins immediately.
For annual, semi-annual, and quarterly premiums, the grace period is 30 days; for monthly premiums, it is 15 days. Coverage is maintained during the grace period. The policy may lapse if premiums are not paid after this point, or it may become paid-up if premiums have been paid for at least two complete years.
Yes, but only following the payment of premiums for a minimum of two complete years. You get the higher of the Special Surrender Value or the Guaranteed Surrender Value when you surrender.
Tax laws as they apply from time to time affect the premiums paid and benefits received under life insurance policies. To find out the precise benefits in your case, speak with a tax advisor.
You have 15 days from the date of receipt to return the policy if you’re unhappy with the terms (or 30 days if it was purchased electronically or online).
Expert Opinion & Regulatory Backing
“A non-linked, non-participating savings plan like LIC’s Bima Jyoti provides stable returns with life protection, which is ideal for risk-averse investors seeking long-term certainty.” — Financial Planner with 15+ years in life assurance
Regulator: LIC is overseen by IRDAI, and this plan (UIN: 512N339V02) has been authorised in accordance with the relevant laws.