LIC Calculator – All Plans, Premium, Maturity & Term Insurance

LIC Calculator – The Complete Tool to Calculate Premium, Maturity & Plan Returns Accurately

You want to buy an LIC policy. Or maybe you already have one. Either way, the first question is always the same — how much will I pay, and how much will I get back?

That is exactly what an LIC calculator helps you figure out. In minutes. Without calling any agent. Without guessing.

I have spent over 20 years working with LIC plans, and I can tell you — most people make buying decisions without really knowing the numbers. They trust whatever the agent says. Sometimes that works out. Many times it does not.

This guide will show you how to use the LIC premium calculator, LIC maturity calculator, and LIC plan calculator. I will also explain the formulas, give real examples, and answer every question you probably have in your head right now. For official policy documents and plan details, you can also visit the official LIC of India website.

LIC Premium Calculator

Let us start here — because premium is what you pay every month, quarter, or year. Before anything else, you need to know if the policy fits your budget.

Calculate LIC Premium Online

Using an LIC premium calculator online is simple. You enter a few basic details and the tool gives you the premium amount right away.

Here is what you need to enter:

• Your age (at the time of buying the policy)
• The Sum Assured you want (the base cover amount)
• Policy term (how many years you want the policy)
• Premium payment mode — monthly, quarterly, half-yearly, or yearly
• The specific LIC plan you are interested in

The calculator then shows you the base premium, any rider charges if you add them, and the final amount you pay per payment cycle.

ℹ️ Good News: Good news for new policyholders: Effective 22 September 2025, the Indian government removed GST completely on all individual LIC life insurance policies. You now pay zero GST on term, endowment, money back, pension, and ULIP plans. This makes LIC policies more affordable than ever before. Group and corporate policies still attract 18% GST.

Premium Calculation Results

Factors Affecting LIC Premium

Your premium is not a random number. It is calculated based on very specific factors. Understanding these helps you plan better.

• Age — Younger you are, lower the premium. Always buy early.
• Sum Assured — Higher the cover, higher the premium. Simple.
• Policy Term — Longer terms usually spread the premium, making each payment smaller.
• Plan Type — Term insurance is cheapest. Endowment and money back plans cost more because they return money.
• Gender — Women get slightly lower premiums in some LIC plans.
• Riders — If you add accident benefit, disability benefit, or waiver of premium riders, the premium increases.

💡 Expert Tip: Do not just look at which plan has the lowest premium. Look at what you get in return. A cheap term plan gives only death benefit. An endowment plan gives maturity money too.

LIC Premium Calculation Formula

LIC uses mortality tables and actuarial science to set premiums. In simple terms, the basic formula works like this:

Premium = (Tabular Rate per 1,000 Sum Assured) × (Sum Assured ÷ 1,000)

Then add mode rebate — you save about 2% if you pay yearly instead of monthly or quarterly. Large sum assured rebate may also apply. Since September 2025, no GST is added on top for individual policies.

The LIC premium calculator does all this math automatically. You do not need to calculate it manually.

LIC Maturity Calculator

This is the number most people actually care about. At the end of the policy, how much money comes back to you?

The LIC maturity calculator answers this question. It takes your policy details and estimates what you will receive when your policy completes its full term.

Calculate LIC Maturity Value

To use the LIC maturity value calculator, you enter the same details as before — age, sum assured, plan, term. The calculator then estimates:

• Basic Sum Assured (the guaranteed amount)
• Simple Reversionary Bonus (declared by LIC every year and added to your policy)
• Final Additional Bonus or FAB (a one-time bonus paid at maturity or death claim — not every year)
• Total Maturity Amount

Maturity Calculation Results

⚠️ Important: Bonus rates are not guaranteed. They are declared by LIC each year based on their fund performance. The maturity calculator uses historical bonus rates as estimates, not confirmed figures. Actual maturity may be higher or lower.

Bonus, FAB & Returns Estimation

LIC bonuses are of two types. First is the Simple Reversionary Bonus, which gets added to your policy every year once declared. Second is the Final Additional Bonus (FAB), which is a one-time extra amount LIC pays only when your policy matures or when a death claim is made — not annually.

In recent years, LIC has been declaring bonuses in the range of ₹40 to ₹60 per ₹1,000 Sum Assured per year, depending on the plan. Over 20 years, this adds up significantly.

💡 Expert Tip: Even if the actual bonus is 10% lower than estimated, your returns are still much better than a regular savings account. LIC plans combine insurance with saving — that dual benefit is the real value.

LIC Maturity Value Calculation Formula

Here is the formula in simple terms:

Maturity Value = Sum Assured + (Annual Bonus Rate × Sum Assured × Policy Term) + Final Additional Bonus

Example: Sum Assured = ₹10 lakhs, Bonus = ₹48 per ₹1,000 per year, Term = 20 years

Reversionary Bonus = (48 ÷ 1,000) × ₹10,00,000 × 20 = ₹9,60,000

FAB at maturity (estimated) = ₹80,000

Total Estimated Maturity = ₹10,00,000 + ₹9,60,000 + ₹80,000 = ₹20,40,000

LIC Plan Calculator

LIC has dozens of plans. Each one is designed for a different need — family protection, child education, retirement, short-term savings, and more. The LIC plan calculator helps you find the right numbers for the specific plan you are considering.

Calculate Benefits for All LIC Plans

Endowment Plan Calculators

Endowment plans are the most popular LIC plans. They combine life insurance with savings. You pay premium for the full term and receive a lump sum at maturity. If you die during the term, your family gets the Sum Assured plus bonuses.

Best for: People who want guaranteed savings with life cover. Popular endowment options include LIC New Endowment Plan 714, LIC New Jeevan Anand Plan 715, LIC Jeevan Labh Plan 736, and LIC Bima Shree Plan 748.

Money Back Plan Calculators

Money back plans pay you a portion of the Sum Assured at regular intervals during the policy term — usually every 5 years. At maturity, you receive the balance plus bonuses.

Best for: People who want periodic returns while keeping their insurance active. See LIC Money Back Plan 720 Calculator and LIC New Money Back Plan 721 Calculator for detailed benefit illustrations.

Child Plan Calculators

These plans are built for one purpose — your child’s future. Premiums are waived if you (the parent) pass away, and the policy continues. The child receives the money at milestones like turning 18, 20, 22, and 25.

Best for: Parents securing their child’s future. Use our LIC Child Plan Calculator to compare options including LIC New Children’s Money Back Plan 732, LIC Child Money Back Plan 832, and LIC Amritbaal Plan 774.

Term Insurance Plan Calculators

Term plans are pure protection plans. You pay a low premium and get a high life cover. If you survive the term, you get nothing back. If you die, your family gets a large Sum Assured.

Best for: Young earners who need maximum life cover at minimum cost. Check the LIC Digi Term Plan 876 Calculator for LIC’s most affordable online term plan.

Pension Plan Calculators

LIC pension plans help you build a retirement corpus. You pay premium during your working years and receive a pension after retirement.

Best for: Self-employed individuals or anyone without a company pension. Explore the LIC New Jeevan Shanti Plan Calculator for annuity and pension options.

What is an LIC Calculator?

An LIC calculator is a free online tool that helps you estimate what you will pay and what you will receive under any LIC insurance plan. It removes the guesswork. You enter your details, and the tool does the math — fast and accurately.

Before online calculators existed, you had to rely on your LIC agent to give you premium figures. The problem? Not every agent explained everything clearly. Bonus projections were sometimes exaggerated. Premiums were not always broken down fully.

With an LIC insurance calculator online, you see the full picture yourself. No surprises later.

How LIC Calculators Work

The calculator uses LIC’s official premium tables, bonus history, and plan-specific rules to generate estimates. It applies the same formulas LIC agents use — but in seconds, and with full transparency.

You input your age, sum assured, term, and plan. The calculator fetches the tabular premium rate for your age and plan, applies any rebates for large sum assured or annual mode, and shows you the premium. For maturity, it applies estimated bonus rates across the full term and adds the FAB.

Who Should Use an LIC Calculator?

• Anyone planning to buy a new LIC policy
• Existing policyholders checking their maturity value
• People comparing two or more LIC plans before deciding
• Those reviewing whether their current premium fits their budget
• Anyone who wants to verify what their agent told them

💡 Expert Tip: Even if you already have a policy, use the maturity calculator. Sometimes people are surprised to learn they are getting far more — or slightly less — than they expected.

Benefits of Using LIC Calculators

• Saves time — get results in seconds
• Shows the full premium breakdown clearly
• Gives realistic maturity estimates based on bonus history
• Helps you compare plans side by side
• Completely free to use, no agent appointment needed
• Helps you avoid being misled by inflated projections

Types of LIC Policies

LIC Term Insurance Plans

Term plans are the simplest and cheapest insurance you can buy. Pay a small amount each year, and your family is protected for a large Sum Assured. LIC Digi Term Plan 876 is a popular choice — it is entirely online, affordable, and offers high cover.

Common mistake: People skip term plans because they think getting no money back means it is a waste. It is not. Protection is the primary purpose of insurance. If you want savings, add an endowment plan separately.

LIC Endowment Plans

The classic LIC plan. You insure yourself and save at the same time. Plans like LIC New Endowment Plan 714 and LIC Jeevan Labh 736 fall under this category. The policyholder gets a maturity benefit at the end of the term, which includes sum assured plus accumulated bonuses. Also worth exploring: LIC Plan 814, LIC Plan 815, and LIC Plan 836 for older endowment plan variants.

These plans work well for disciplined long-term savers. You cannot dip into the money early without penalty, which actually helps most people stay committed.

LIC Money Back Plans

Money back plans give you liquidity. Every 5 years or so, you receive 20% of your Sum Assured as a survival benefit. Use the LIC Money Back Plan 720 Calculator and LIC New Money Back Plan 721 Calculator to see the exact payout schedule for each plan.

LIC Child Insurance Plans

LIC Amritbaal 774 and Jeevan Lakshya 733 are designed around one priority — your child’s financial security. Even if you are not around, the policy continues paying. Also see LIC Jeevan Lakshya Plan 833 and our dedicated LIC Child Plan Calculator to compare all child plan options side by side.

LIC Pension & Retirement Plans

LIC offers pension plans for people building their retirement corpus. Explore the LIC New Jeevan Shanti Plan Calculator for annuity options. Also check LIC Jeevan Utsav Plan Calculator and LIC Jeevan Umang 745 Calculator — both are whole-life plans with regular income benefits.

LIC Whole Life Plans

Whole life plans cover you for your entire life, not just a fixed term. LIC Jeevan Umang Plan 745 is a popular choice — you receive annual survival benefits from a chosen age and the full sum assured at maturity. Also explore LIC Jeevan Azad Plan 768 for a flexible limited-premium whole-life option.

Popular LIC Calculators

LIC New Endowment Plan 714 Calculator

Plan 714 is an updated endowment plan introduced in line with 2024 IRDA surrender guidelines. It is a non-linked, participating plan with a policy term between 12 and 35 years. Both death and maturity benefits include the sum assured plus accumulated bonuses and FAB. Use the LIC New Endowment Plan 714 Calculator to see how regular savings translate into a strong corpus over time. You may also want to compare it with the older LIC Plan 814 Maturity Calculator and LIC 914 Plan Calculator.

LIC New Jeevan Anand Plan 715 Calculator

Plan 715 is unique — it gives you maturity benefit at the end of the term AND continues life cover for the rest of your life at no additional cost. Use the LIC New Jeevan Anand Plan 715 Calculator to see how savings and lifetime protection work together in this plan.

LIC Single Premium Endowment Plan 717 Calculator

Plan 717 is for people who can invest a large amount once and not worry about annual premiums. Use the LIC Single Premium Endowment Plan 717 Calculator to see how your one-time investment grows over your chosen term. Also consider the LIC Dhan Vriddhi Plan Calculator as another single-premium option.

LIC Money Back Plan 720 Calculator

A 20-year money back plan that pays 20% of Sum Assured every 5 years (at years 5, 10, and 15) and 40% plus bonuses at maturity. Use the LIC Money Back Plan 720 Calculator to map your periodic payouts and total returns.

LIC New Money Back Plan 721 Calculator

Similar to Plan 720 but with a 25-year term. Survival benefits are paid at years 5, 10, 15, and 20. Use the LIC New Money Back Plan 721 Calculator to project your staged returns. Good for people in their 20s and 30s planning for long-term milestones.

LIC New Children’s Money Back Plan 732 Calculator

Designed for children aged 0 to 12 years. Survival benefits of 20% are paid at ages 18, 20, and 22, and 40% plus bonuses at age 25. Use the LIC New Children’s Money Back Plan 732 Calculator to see the full payout schedule. Also see the older LIC Child Money Back Plan 832 Calculator for comparison.

LIC Jeevan Lakshya Plan 733 Calculator

A unique plan where the family receives 10% of Sum Assured every year until maturity if the parent passes away — and still gets full maturity benefit. Use the LIC Jeevan Lakshya Plan 733 Calculator to understand this dual income structure. Also check the earlier LIC Jeevan Lakshya Plan 833 Calculator.

LIC Jeevan Labh Plan 736 Calculator

A limited premium endowment plan with three combinations: pay 10 years covered 16 years, pay 15 years covered 21 years, or pay 16 years covered 25 years. Minimum Sum Assured is ₹2 lakhs. Use the LIC Jeevan Labh Plan 736 Calculator to find your maturity value. You can also compare with the older LIC Plan 836 Maturity Calculator.

LIC Bima Jyoti Plan 760 Calculator

A non-linked plan with guaranteed additions instead of variable bonuses. Use the LIC Bima Jyoti Plan 760 Calculator for very predictable maturity projections — ideal for people who want certainty in their numbers.

LIC Bima Ratna Plan 764 Calculator

A money back plan with guaranteed additions and survival benefits at regular intervals. Use the LIC Bima Ratna Plan 764 Calculator to see guaranteed returns at each payout stage.

LIC Amritbaal Plan 774 Calculator

LIC’s child plan covering children from 30 days to 13 years with multiple payout options. Use the LIC Amritbaal Plan 774 Calculator to plan your child’s financial milestones. Also check LIC Amritbaal Plan 874 Calculator for the updated version.

LIC Digi Term Plan 876 Calculator

LIC’s fully online term insurance plan with no agent required. With zero GST on individual policies now, this plan is even more affordable. Use the LIC Digi Term Plan 876 Calculator to find the maximum life cover for your budget.

More LIC Plan Calculators

We also have calculators for many more LIC plans. Here are some you may find useful:

• Jeevan Saral Plan: LIC Jeevan Saral Plan 165 Maturity Value Calculator
• Jeevan Rakshak Plan: LIC Jeevan Rakshak Plan 827 Maturity Calculator
• LIC Plan 917: LIC 917 Plan Calculator
• LIC Plan 178: LIC Plan 178 Maturity Calculator
• LIC Plan 133: LIC Plan 133 Maturity Calculator
• LIC Jeevan Azad: LIC Jeevan Azad Plan 768 Calculator
• Nav Jeevan Shree Plan: LIC Nav Jeevan Shree Plan 912 Calculator
• Nav Jeevan Shree Single Premium: LIC Nav Jeevan Shree Single Premium Plan 911
• LIC Jeevan Utsav: LIC Jeevan Utsav Plan Calculator
• LIC Dhan Vriddhi: LIC Dhan Vriddhi Plan Calculator

Why Use Our LIC Calculator?

Instant Premium Estimates

No waiting for an agent call back. No filling forms. Enter your details and see your premium in under 30 seconds. The LIC premium estimate calculator gives you accurate figures based on current official rates — now reflecting zero GST for individual policies.

Accurate Maturity Projections

The LIC maturity value calculator uses historical bonus rates and current LIC guidelines to give you realistic projections. Not inflated numbers to impress you — realistic estimates to help you plan.

Compare LIC Plans Easily

Use the LIC plan comparison calculator to see two or three plans side by side. For example, compare LIC Jeevan Labh 736 with LIC New Endowment Plan 714 using the same age and sum assured — you immediately see which one offers better returns for your situation.

Better Financial Planning

When you know your maturity amount, you can plan around it. Will this policy fund your child’s college? Will it supplement your retirement? The LIC investment calculator connects your insurance to your actual financial goals.

Free Online Calculator

There is no charge, no registration, and no obligation to buy. The LIC calculator online is a free tool to help you make an informed decision — nothing more.

How to Use the LIC Calculator

Select a LIC Plan

Start by choosing the plan you want to calculate for — endowment, money back, term, child plan, or pension. If you are unsure which plan to pick, try a few and compare the results.

Enter Policy Details

Fill in your age (completed years), the sum assured you want, the policy term, and your preferred premium payment mode. Some plans also ask for the premium payment term separately, especially limited-premium plans like Jeevan Labh 736.

Review Premium & Maturity Results

The calculator shows your premium breakdown — base premium, applicable rebates, and final payable amount. It also shows estimated maturity value with bonus projections. Read through all the numbers, not just the headline figure.

Compare Multiple Plans

Run the calculator for two or three plans with the same inputs. Compare premiums, maturity values, death benefits, and whether there are periodic payouts. Pick the plan that fits your actual goal, not just the one with the highest maturity number.

Understanding Calculator Results

Premium Amount

This is what you pay. Check whether the amount shown is yearly, half-yearly, quarterly, or monthly. Many people get confused when they see a yearly premium and compare it with a monthly quote. Always compare on the same frequency.

Maturity Value

This is the total amount you receive at the end of the policy term — assuming you survive the full term. It includes Sum Assured plus accumulated bonuses and FAB. This is an estimate, not a guarantee.

Bonus Estimates

Bonuses are LIC’s way of sharing profits with policyholders. They are declared every year but not paid until maturity or a death claim. Once declared, a bonus cannot be taken away. The calculator uses historical average rates. Actual bonus could be higher or lower.

Death Benefit

If the insured person passes away during the policy term, the nominee receives this amount. For most LIC plans, the death benefit is the higher of the Sum Assured or a multiple of the annual premium, plus all accrued bonuses up to the date of death.

Surrender Value

If you stop paying premiums and want to exit early, you receive the surrender value — which is less than your total premiums paid, especially in the early years. The policy acquires surrender value only after a minimum number of premiums have been paid, as specified in each plan’s terms.

⚠️ Important: Never surrender an LIC policy early unless absolutely necessary. You lose a significant portion of what you have paid. If money is tight, ask your LIC branch about the paid-up policy option instead — your cover reduces but the policy stays alive.

LIC Calculator Example

Premium Calculation Example

Rahul is 32 years old. He wants to buy LIC Jeevan Labh Plan 736 with a Sum Assured of ₹15 lakhs, a 25-year policy term, and a 16-year premium paying term.

Maturity Value Example

At the end of 25 years, Rahul’s estimated maturity value:

Rahul paid approximately ₹10.16 lakhs over 16 years and receives an estimated ₹34.5 lakhs at maturity — plus he had life insurance cover of ₹15 lakhs for the full 25 years. For the last 9 years, he pays zero premium but the policy and bonuses keep running. That is the practical power of using an LIC plan calculator before buying.

Frequently Asked Questions

What is an LIC Calculator?

It is a free online tool that calculates your LIC premium, estimated maturity value, and policy benefits based on your age, sum assured, plan, and term. Visit our LIC Plan Calculator home page to get started with any plan.

How Does an LIC Premium Calculator Work?

It uses LIC’s official tabular premium rates, applies applicable rebates for large sum assured or annual mode, and gives you the final payable amount. Since September 2025, individual policies carry zero GST, so the base premium is what you pay.

How Does an LIC Maturity Calculator Work?

It takes your Sum Assured, policy term, and applicable plan, applies estimated bonus rates based on LIC’s historical declarations, and adds the Final Additional Bonus to project your total maturity amount. This is an estimate — not a guaranteed figure.

Which LIC Plan Calculator Should I Use?

Start with the specific plan you are considering. Not sure which plan fits you? Use our LIC Child Plan Calculator for child plans, or browse all calculators from our LIC Plan Calculator home page to compare options side by side.

Are LIC Calculator Results Accurate?

Premium results are accurate — they match LIC’s official rate tables. Maturity results are estimates because bonuses are not guaranteed in advance. Think of the maturity number as a realistic projection based on history, not a confirmed contract amount.

Can I Compare LIC Plans Online?

Yes. Enter the same age and sum assured for two different plans and compare the premium, maturity value, death benefit, and survival benefit structure. For example, try LIC Bima Jyoti Plan 760 (guaranteed additions) against LIC Bima Ratna Plan 764 (money back with guaranteed additions) to see which suits your goal better.

Is the LIC Calculator Free to Use?

Completely free. No login, no registration, no obligation. Visit the LIC Plan Calculator and get your numbers instantly.

Start Using the LIC Calculator Today

The best time to check LIC plan numbers is before you sign anything. Use the LIC premium calculator to confirm what you are paying is correct. Use the LIC maturity calculator to set realistic expectations. Use the LIC plan calculator to find the plan that actually matches your goal.

After 20 years of watching people make insurance decisions, the pattern is clear. People who use calculators ask better questions, choose better plans, and face fewer surprises at maturity. People who skip the numbers often feel let down.

You now have everything you need. Run the numbers. Choose wisely. And if you want to verify plan details directly, cross-check with the official LIC of India website. Your family’s financial security is worth five minutes with a calculator.

Disclaimer: All maturity values and bonus figures are estimates based on historical LIC bonus rates. Actual returns may vary. GST information is based on rules effective 22 September 2025 — please verify current tax rules with your LIC agent or a qualified tax advisor. This article is for informational purposes only and does not constitute financial advice. Please consult a licensed LIC agent or financial advisor before purchasing any policy.