LIC Premium Calculator & Maturity Reckoner
The instant, 100% client-side calculator engineered for modern insurance advisors and policyholders. Calculate premiums, bonus accumulations, GST splits, and tax-free maturity benefits with zero latency.
Explore All LIC Policy Plans
Select any policy table below to calculate custom premium quotations, survival benefits, and cashflow projections.
LIC Jeevan Labh
LIC New Endowment
LIC New Jeevan Anand
LIC Jeevan Lakshya
LIC Amritbaal
LIC New Bima Jyoti
LIC Single Premium Endowment
LIC Nav Jeevan Shree
LIC Bima Lakshmi
LIC New Jeevan Sathi (Single Premium)
LIC New Jeevan Sathi (Limited Premium)
LIC Jeevan Umang
LIC Jeevan Utsav
LIC Jeevan Utsav (Single Premium)
LIC New Money Back (20 Years)
LIC New Money Back (25 Years)
LIC Jeevan Tarun
LIC New Children's Money Back
LIC Bima Shree
LIC New Tech-Term (Online)
LIC Digi Term
LIC New Jeevan Amar (Offline)
LIC Bima Kavach
LIC Yuva Term
LIC Digi Credit Life
LIC Yuva Credit Life
LIC Saral Jeevan Bima
LIC New Jeevan Shanti
LIC Jeevan Akshay VII
LIC New Pension Plus
LIC Saral Pension
LIC Smart Pension
LIC Index Plus
LIC Nivesh Plus
LIC SIIP (Systematic Investment)
LIC Protection Plus
LIC Micro Bachat
LIC Jan Suraksha
Featured Calculator: LIC Jeevan Labh (Plan 936)
Limited premium paying endowment plan with highest bonus rates and guaranteed protection.
Plan Parameters
Official Notice & Disclaimer
LIC Plan Calc (licplancalc.com) is an independent informational and calculation utility created to assist insurance advisors, agents, and policyholders. It is NOT affiliated with, authorized, or endorsed by Life Insurance Corporation of India (LIC).
LIC Jeevan Labh (Plan 936)
100% Tax-Free under Section 10(10D) of Income Tax Act
Premium Modes (0% GST Direct)
0% GST Mode| Yr | Age | Premium (0% GST) | Cumulative | Normal Cover | Accidental Cover | Surrender Value | Maturity |
|---|
How LIC Policy Premiums & Maturity Returns Are Calculated
An authoritative, transparent breakdown of insurance formulas, high sum assured rebates, GST slabs, and bonus accrual mechanisms.
1Mathematical Premium Calculation Formulas
The premium charged by Life Insurance Corporation of India (LIC) is derived from strictly regulated actuarial mortality tables, policy terms, and sum assured brackets:
| Sum Assured Band | High SA Rebate per ₹1,000 SA | Annual Savings on ₹10L SA | Annual Savings on ₹25L SA |
|---|---|---|---|
| ₹2,00,000 to ₹4,99,999 | Nil (₹0.00) | ₹0 | ₹0 |
| ₹5,00,000 to ₹9,99,999 | ₹1.25 / ₹1,000 SA | ₹1,250 / yr | — |
| ₹10,00,000 to ₹14,99,999 | ₹1.50 / ₹1,000 SA | ₹1,500 / yr | — |
| ₹15,00,000 and Above | ₹1.75 / ₹1,000 SA | — | ₹4,375 / yr |
2Accurate GST Slabs on Life Insurance (1st Year vs Renewal)
Applies to all new policies in their first policy year. Composed of 2.25% Central GST (CGST) and 2.25% State GST (SGST).
Applies from Year 2 onwards until the conclusion of PPT. Composed of 1.125% CGST and 1.125% SGST, reducing tax by 50%.
3Maturity Calculation Architecture: Sum Assured + Bonuses + FAB
1. Basic Sum Assured (BSA): The guaranteed minimum principal cover contracted at inception.
2. Simple Reversionary Bonus (SRB): Declared annually at the end of each financial year per ₹1,000 Sum Assured (e.g. ₹47/k SA on ₹10L policy = ₹47,000/yr).
3. Final Additional Bonus (FAB): A terminal loyalty addition paid once at maturity or on death for eligible policies running 15 years or longer.
Expert Architecture vs. Competitor Comparison
How licplancalc.com solves the architectural flaws of heavy Play Store APKs and lead-gated web aggregators.
| Benchmark Dimension | Native Android Apps ("All in 1 CALC") | Web Portals (Policybazaar, InsuranceDekho) | licplancalc.com (Our Architecture) |
|---|---|---|---|
| Delivery & Access | Requires 25MB+ APK download via Play Store; manual updates required. | Heavy monolithic portal with slow multi-megabyte JS bundles. | Zero-install Astro MPA (sub-50KB initial payload), instant web access. |
| Lead Gating & Privacy | No lead wall, but no web crawlability or cross-device links. | Forced Phone Number & OTP wall before viewing maturity. High spam calls. | 100% Open & Private: No phone numbers, no OTPs, zero database logging. |
| Calculation Latency | Fast on device once installed. | 2.5s–5.0s cloud roundtrip latency on every slider tweak. | <1ms Client-Side Synchronous TypeScript execution. |
| Advertising Experience | Intrusive full-screen interstitial popups & bottom banners. | Aggressive cross-sell banners, popups, and chatbot prompts. | Zero intrusive popups. Clean Institutional Fintech UI (DESIGN.md). |
| Advisor Field Utilities | Basic plain text export. | None (Built exclusively to harvest customer leads for internal call centers). | 1-Tap WhatsApp Emoji Proposal + 1-Click Client Proposal PDF + Exact Age/ANB tool. |
| SEO & Discoverability | Zero web search visibility. | Generic bloated 4,000-word walls built for ranking rather than utility. | Laser-targeted MPA routes per plan with full JSON-LD structured schemas. |
Trust, Privacy & Platform Compliance
Discover our engineering architecture, strict zero-lead-harvesting privacy pledge, actuarial methodology, and direct team support channels.
About Us & Mission
Learn how we built India's fastest, zero-lead-wall insurance calculator micro-tool to liberate advisors and buyers from aggregator spam.
- ✓ 100% Client-Side Pure Web App
- ✓ Independent Actuarial Utility
- ✓ Zero Ad Interstitials or APKs
Privacy Policy
We collect ZERO phone numbers, emails, or financial inputs. All calculations run strictly in your browser with complete anonymity.
- ✓ No OTP or Phone Number Gating
- ✓ DPDP Act 2023 Compliant
- ✓ No Data Transmission to Cloud
Terms & Conditions
Clear disclosures regarding educational calculation use, latest declared bonus synchronizations, and LIC non-affiliation terms.
- ✓ Illustrative Actuarial Models
- ✓ Non-Affiliation Declaration
- ✓ Advisor Sharing Permissions
Contact & Support
Need a specific plan calculator added? Spotted a revised bonus rate? Reach out to our engineering and actuarial team directly.
- ✓ Direct Developer & Actuarial Email
- ✓ 24–48hr Response SLA
- ✓ Community Plan Requests
Frequently Asked Questions
Answers to common questions regarding LIC policy premium computations, GST slabs, maturity formulas, and advisor tools.
1How is the LIC policy premium calculated accurately?
LIC policy premium is calculated using the basic tabular premium rate per ₹1,000 Sum Assured for your specific age and policy term. This basic rate is adjusted by subtracting high Sum Assured rebates (e.g., ₹1.50 to ₹2.00 per ₹1,000 SA for policies above ₹5–10 Lakh), applying payment frequency rebates (2% discount for Yearly mode or 1% for Half-Yearly mode), adding optional riders (such as Accidental Death and Disability Benefit or Term Assurance Rider), and finally applying the applicable GST rate (4.5% in Year 1, 2.25% in renewal years).
2What are the applicable GST rates on LIC insurance premiums (1st year vs renewal)?
Under prevailing Indian insurance GST regulations, first-year premiums for traditional endowment, money-back, and whole-life policies attract 4.5% GST (2.25% CGST + 2.25% SGST/UTGST). For all subsequent renewal premium years (Year 2 onwards), GST is reduced to a concessional rate of 2.25% (1.125% CGST + 1.125% SGST). Pure risk term insurance riders attract standard 18% GST throughout the policy tenure.
3How are LIC maturity amounts, reversionary bonuses, and FAB calculated?
The total maturity payout for traditional with-profits LIC policies is calculated using the standard formula: Maturity Amount = Basic Sum Assured + Total Simple Reversionary Bonuses (SRB) + Final Additional Bonus (FAB). The Simple Reversionary Bonus is calculated annually as: (Declared Bonus Rate per ₹1,000 SA × Basic Sum Assured / 1,000) × Policy Term. Final Additional Bonus (FAB) is a one-time loyalty addition declared per ₹1,000 SA on eligible policies running 15 years or longer.
4What is the difference between Policy Term (PT) and Premium Paying Term (PPT)?
Policy Term (PT) is the complete duration of the insurance contract during which life risk coverage remains active and bonuses compound until final maturity. Premium Paying Term (PPT) is the specific number of years during which the policyholder is required to pay premiums. For example, in limited-pay plans like LIC Jeevan Labh (Table 936) Option 25/16, the Policy Term is 25 years while the PPT is only 16 years, giving 9 years of premium-free life cover and wealth compounding.
5Which LIC plan offers lifetime guaranteed income with maturity returns?
LIC Jeevan Umang (Plan No. 945) provides a guaranteed annual survival benefit equal to 8% of the Basic Sum Assured every year after the Premium Paying Term until age 99, followed by full Sum Assured and accrued bonuses at age 100 maturity or demise. Additionally, LIC Jeevan Utsav (Plan No. 874) offers guaranteed lifetime annual income benefits equal to 10% of Sum Assured after a short premium paying term of 5 to 16 years.
6Can I calculate policy loan and surrender value using this calculator?
Yes. On licplancalc.com, policies acquire guaranteed surrender and loan eligibility after completing 2 consecutive full years of premium payments. The calculator factors in Guaranteed Surrender Value (GSV) percentages (scaling from 30% up to 90% of paid premiums plus vested bonuses) and Special Surrender Value (SSV). Policy loan limits are computed at up to 90% of the surrender value for in-force policies and up to 80% for paid-up policies.
7How can insurance advisors generate quotation PDFs or share summaries via WhatsApp?
Insurance advisors can enter client age, sum assured, and term options on licplancalc.com, then click "Share on WhatsApp" to instantly create a formatted, emoji-structured proposal text ready for messaging. Clicking "Download Client PDF" or "Print Proposal" generates a clean, branded client quotation sheet with complete premium splits and year-by-year cashflow projections, completely free and without watermarks or lead forms.
8Is this LIC Plan Calculator officially affiliated with Life Insurance Corporation of India?
No. LIC Plan Calc (licplancalc.com) is an independent educational calculation utility and open reference tool designed for insurance advisors, financial planners, and policyholders. It is not affiliated with, sponsored by, or endorsed by the Life Insurance Corporation of India (LIC). All calculations are based on standard actuarial formulas and publicly declared bonus rates.
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🎂LIC Exact Age & ANB Calculator
LIC underwriting uses Age Nearer Birthday (ANB). If a person is 30 yrs 6 months & 1 day old, LIC counts age as 31 Years.