LIC Premium Estimator
Estimate premium and maturity amount for popular LIC plans based on age, sum assured and term.
These are estimates only. Actual premiums depend on exact age, rider selection, and current LIC tables. Contact LIC or visit lic.in for exact figures.
About popular LIC plans
Whole life plan with limited premium payment term. Provides both endowment and whole life cover. Sum assured paid at maturity + bonus; life cover continues for whole life.
Whole life plan with annual survival benefit of 8% of sum assured after premium payment term ends, plus maturity benefit and life cover throughout.
Limited premium endowment plan. Premium payment term is shorter than policy term (e.g., pay for 16 years, cover for 25 years). Suitable for long-term savings.
Traditional endowment plan. Premium payment and policy term are equal. On maturity: sum assured + accrued bonus. On death: sum assured + bonus.
Child plan with survival benefit at ages 20, 21, 22, 23 (chooseable percentage). Premium waiver on parent's death. Maturity at age 25 of child.
Frequently asked questions
How accurate are these premium estimates?
These estimates are based on approximate premium rates per ₹1,000 sum assured at standard ages and terms. Actual LIC premiums depend on your exact age at nearest birthday, GST (18% on first-year premium, 4.5% thereafter), rider charges, and the current LIC premium table. Always verify with an LIC agent or at lic.in.
What is the bonus rate for LIC plans?
LIC declares a simple reversionary bonus annually, expressed as ₹ per ₹1,000 sum assured. Recent bonus rates range from ₹40–₹54 per ₹1,000 SA per year depending on the plan and term. A terminal bonus may also be added at maturity or death claim.
Is LIC premium eligible for tax deduction?
Yes, LIC premiums qualify for deduction under Section 80C up to ₹1.5 lakh per year. The maturity proceeds are tax-free under Section 10(10D) provided the premium does not exceed 10% of the sum assured (for policies issued after 1 April 2012).
Can I surrender my LIC policy before maturity?
Yes, after 2–3 years of premium payment (varies by plan), the policy acquires a surrender value. The guaranteed surrender value is typically 30% of premiums paid (excluding first year and extra premiums). The special surrender value may be higher based on bonus accrued.
What payment modes does LIC offer and are there discounts?
LIC accepts yearly, half-yearly, quarterly, and monthly (via ECS/NACH) premium payments. Yearly mode is cheapest — half-yearly costs about 2% extra, quarterly about 3.5% extra, and monthly about 4.5% extra (modal loading factors applied).