LIC Bima Shree Plan 748 Calculator
🆕 Loyalty Addition: This is a Par plan. Loyalty Addition (if any) is declared by LIC based on their experience and is paid at exit (maturity or death after 5 years). The calculator shows guaranteed benefits only; actual benefits may be higher with Loyalty Addition.
| Year | Age | Premium (₹) | Annual GA | Accrued GA | Death Benefit | Survival Benefit | Cumul. SB | Maturity | GSV | Status |
|---|
LIC Bima Shree Plan 748 Calculator – Premium, Maturity, Survival Benefit & Guaranteed Additions
Looking for a plan that gives you guaranteed returns, regular money back, and strong life cover — all in one? That’s exactly what LIC Bima Shree Plan 748 is built for. It’s one of LIC’s most premium money-back plans, specifically designed for High Net-Worth Individuals (HNIs) who want to protect wealth and grow it at the same time.
The LIC Bima Shree Plan 748 Calculator above helps you find your exact annual premium, survival benefits (money back), maturity amount, and death benefit — based on your age, sum assured, and policy term. No manual calculations. No guesswork.
This guide goes deeper than any other resource you’ll find online. We cover the complete plan structure, all four policy terms, guaranteed addition rates, real calculation examples, tax benefits, rider options, and a clear answer to whether this plan is right for you.
📋 Table of Contents
- What Is LIC Bima Shree Plan 748?
- Eligibility Criteria
- Key Features at a Glance
- How the Calculator Works
- Guaranteed Additions Explained
- Survival Benefits – All 4 Policy Terms
- Maturity Benefit Formula
- Death Benefit Structure
- Real Premium & Maturity Example
- Optional Riders
- Tax Benefits
- Surrender Value & Loan
- Who Should Buy Plan 748?
- Pros & Cons
- Plan 748 vs Other LIC Plans
- Expert Tips
- FAQs
What Is LIC Bima Shree Plan 748?
LIC Bima Shree Plan 748 is a non-linked, participating, limited premium payment money-back plan from Life Insurance Corporation of India. In plain English — it’s a savings-cum-insurance plan where you pay premiums for a shorter period than the full policy term, receive money back at fixed intervals during the policy, and get a large lump sum at the end.
The plan is specially designed for High Net-Worth Individuals (HNIs) — the minimum Basic Sum Assured is ₹10,00,000 (₹10 lakh). This isn’t a mass-market plan. It targets people who want significant guaranteed returns alongside solid life protection.
What sets Plan 748 apart from standard money-back plans is its Guaranteed Additions (GA) — a fixed amount added to your policy every year during the premium-paying term, regardless of LIC’s investment performance. These GAs are guaranteed in the policy document itself — not subject to market volatility.
The plan was updated in 2024 following IRDAI’s new product regulations, adding two new policy terms (24 and 28 years) and revising age limits.
LIC Bima Shree Plan 748 – Eligibility Criteria
| Parameter | 14-Year Term | 16-Year Term | 18-Year Term | 20-Year Term |
|---|---|---|---|---|
| Min Entry Age | 18 years | 18 years | 18 years | 18 years |
| Max Entry Age | 55 years | 51 years | 48 years | 45 years |
| Premium Paying Term | 10 years | 12 years | 14 years | 16 years |
| Max Maturity Age | 69 years | 67 years | 66 years | 65 years |
| Min Basic Sum Assured | ₹10,00,000 (₹10 Lakh) | |||
| Max Basic Sum Assured | No Limit (in multiples of ₹1,00,000) | |||
| Premium Mode | Yearly, Half-Yearly, Quarterly, Monthly | |||
| Plan Type | Non-Linked, Participating, Limited Pay Money-Back | |||
Key Features of LIC Bima Shree Plan 748
| Feature | Details |
|---|---|
| Plan Number | 748 (UIN: 512N316V02 revised) |
| Plan Category | Money Back + Limited Premium Payment |
| Target Audience | High Net-Worth Individuals (HNIs) |
| Min Sum Assured | ₹10,00,000 |
| Policy Terms Available | 14, 16, 18, 20 years (24 & 28 also added post-2024) |
| Guaranteed Additions | ₹50/₹1000 BSA (Yr 1–5), ₹55/₹1000 BSA (Yr 6 to PPT end) |
| Survival Benefits | 2 fixed payouts during policy term (% of BSA) |
| Maturity Benefit | Sum Assured on Maturity + GA + Loyalty Addition |
| Death Benefit | 125% BSA or 7× Annual Premium (higher) + GA + LA |
| Riders Available | Up to 4 optional riders |
| Loan Facility | After 1 policy year (1 full year premium paid) |
| Surrender | After 1 full year premium paid |
| Tax Benefit | Section 80C (premium) + 10(10D) (maturity) |
| Settlement Option | Maturity/Death benefit in instalments over 5, 10, or 15 years |
| Grace Period | 30 days (yearly/half-yearly/quarterly), 15 days (monthly) |
| Free Look Period | 15 days (30 days for distance marketing) |
| Revival | Within 5 years of first unpaid premium |
| GST Rate | 4.5% (Year 1), 2.25% (Year 2 onwards) |
How to Use the LIC Bima Shree Plan 748 Calculator
The LIC Bima Shree Plan 748 Calculator above works on three inputs — your age, sum assured, and policy term. Here’s how to use it step by step:
- Select Policy Term — choose from 14, 16, 18, or 20 years based on your financial goal
- Enter Entry Age — your current age (18 to 55 years depending on term chosen)
- Enter Basic Sum Assured — minimum ₹10,00,000, in multiples of ₹1,00,000
- Select Premium Mode — yearly, half-yearly, quarterly, or monthly
- Click Calculate — instantly see annual premium, survival benefits at each milestone, total maturity value, guaranteed additions, and death cover
What the calculator shows you:
- Annual premium (base plan, before GST)
- Premium Paying Term (PPT = Policy Term − 4)
- Year and amount of each survival benefit payout
- Total Guaranteed Additions accrued during PPT
- Estimated Loyalty Addition at maturity
- Total Maturity Benefit
- Death benefit at different policy years
- Surrender value estimate
LIC Bima Shree Plan 748 – Guaranteed Additions Explained
Guaranteed Additions are the cornerstone of Plan 748. Unlike bonuses in other LIC plans, these are contractually guaranteed — LIC must pay them regardless of its investment performance or market conditions.
📐 Guaranteed Addition Rate
Year 1 to Year 5: ₹50 per ₹1,000 Basic Sum Assured per year
Year 6 to end of PPT: ₹55 per ₹1,000 Basic Sum Assured per year
GA accrues at the end of each policy year during the Premium Paying Term only. GA stops accruing once the PPT ends — it does not accrue in the final 4 years of the policy term (the “paid-up” period).
Guaranteed Addition Calculation Example (BSA = ₹10 Lakh, PPT = 10 Years for 14-Year Term)
| Policy Year | GA Rate | GA Amount (for ₹10L BSA) | Cumulative GA |
|---|---|---|---|
| Year 1 | ₹50/₹1000 | ₹50,000 | ₹50,000 |
| Year 2 | ₹50/₹1000 | ₹50,000 | ₹1,00,000 |
| Year 3 | ₹50/₹1000 | ₹50,000 | ₹1,50,000 |
| Year 4 | ₹50/₹1000 | ₹50,000 | ₹2,00,000 |
| Year 5 | ₹50/₹1000 | ₹50,000 | ₹2,50,000 |
| Year 6 | ₹55/₹1000 | ₹55,000 | ₹3,05,000 |
| Year 7 | ₹55/₹1000 | ₹55,000 | ₹3,60,000 |
| Year 8 | ₹55/₹1000 | ₹55,000 | ₹4,15,000 |
| Year 9 | ₹55/₹1000 | ₹55,000 | ₹4,70,000 |
| Year 10 (PPT End) | ₹55/₹1000 | ₹55,000 | ₹5,25,000 |
| Year 11–14 (no GA) | — | — | ₹5,25,000 (fixed) |
For a 14-year term with ₹10 lakh BSA, total Guaranteed Additions = ₹5,25,000. These are guaranteed — you will receive this amount at maturity no matter what happens in the economy.
Survival Benefits – LIC Bima Shree Plan 748 (All 4 Policy Terms)
Survival benefits are the money-back component of Plan 748. LIC pays you a fixed percentage of your Basic Sum Assured at specific policy anniversaries — completely tax-free. Here’s the complete structure across all four terms:
| Policy Term | PPT | 1st Survival Benefit | 2nd Survival Benefit | Each Payout (% BSA) | Total Survival (% BSA) |
|---|---|---|---|---|---|
| 14 Years | 10 Yrs | End of 10th Year | End of 12th Year | 30% | 60% |
| 16 Years | 12 Yrs | End of 12th Year | End of 14th Year | 35% | 70% |
| 18 Years | 14 Yrs | End of 14th Year | End of 16th Year | 40% | 80% |
| 20 Years | 16 Yrs | End of 16th Year | End of 18th Year | 45% | 90% |
LIC Bima Shree Plan 748 – Maturity Benefit Formula
On surviving the full policy term, you receive the maturity benefit. Here’s the exact formula:
🎯 Maturity Benefit Formula
Maturity Benefit = Sum Assured on Maturity + Accrued Guaranteed Additions + Loyalty Addition (if any)
Sum Assured on Maturity by Policy Term:
- 14-Year Term: 40% of Basic Sum Assured
- 16-Year Term: 30% of Basic Sum Assured
- 18-Year Term: 20% of Basic Sum Assured
- 20-Year Term: 10% of Basic Sum Assured
Note: The longer the term, the lower the maturity SA percentage — because you’ve already received larger survival benefit payouts during the term. Total payout (survival + maturity) is structured to balance out across all terms.
Settlement Option — Receive Maturity in Instalments
If you don’t want a lump sum at maturity, LIC gives you a settlement option — receive your maturity benefit in instalments over a chosen period of 5, 10, or 15 years. Instalments can be yearly, half-yearly, quarterly, or monthly. This is ideal for retirees who want a steady income stream instead of a one-time payout.
Death Benefit – LIC Bima Shree Plan 748
In the unfortunate event of the policyholder’s death during the policy term, the nominee receives the following — depending on when death occurs:
| Timing of Death | Death Benefit Payable |
|---|---|
| Death within first 5 years | Sum Assured on Death + Accrued Guaranteed Additions |
| Death after 5 years but before maturity | Sum Assured on Death + Accrued Guaranteed Additions + Loyalty Addition (if any) |
🛡️ Sum Assured on Death = Higher of:
- 125% of Basic Sum Assured, OR
- 7 times the Annualised Premium
Additionally, the death benefit will never be less than 105% of total premiums paid up to the date of death (excluding taxes, riders, underwriting extras).
This means for a ₹10 lakh BSA, the minimum death cover is ₹12,50,000 (125% of BSA) — plus all accrued Guaranteed Additions — making the total death payout substantially higher than the sum assured from day one.
LIC Bima Shree Plan 748 – Real Premium & Maturity Calculation Example
Let me show you real numbers for the most popular scenario — a 30-year-old choosing a 14-year term with ₹10 lakh Basic Sum Assured:
Example 1: Age 30, BSA ₹10 Lakh, 14-Year Term
| Parameter | Value |
|---|---|
| Entry Age | 30 years |
| Basic Sum Assured | ₹10,00,000 |
| Policy Term | 14 years |
| Premium Paying Term | 10 years (PPT = 14 − 4) |
| Approx. Annual Premium (excl. GST) | ₹1,08,584 |
| Total Premiums Paid (10 yrs) | ₹10,85,840 |
| 1st Survival Benefit (End of Yr 10) | ₹3,00,000 (30% of ₹10L) |
| 2nd Survival Benefit (End of Yr 12) | ₹3,00,000 (30% of ₹10L) |
| Total Survival Benefits Received | ₹6,00,000 |
| Sum Assured on Maturity (40% of BSA) | ₹4,00,000 |
| Total Guaranteed Additions (Yr 1–10) | ₹5,25,000 |
| Loyalty Addition (indicative) | ₹15,000 – ₹30,000+ |
| Total Maturity Benefit (excl. LA) | ₹9,25,000 |
| Grand Total Payout (Survival + Maturity) | ₹15,25,000+ |
| Death Cover (125% of BSA) | ₹12,50,000 + GA accrued |
Source: LIC official brochure example (Section 12). Premium is illustrative — actual premium depends on exact age, mode, and underwriting. Loyalty Addition is non-guaranteed and depends on LIC’s valuation.
Example 2: Age 30, BSA ₹15 Lakh, 20-Year Term
| Parameter | Value |
|---|---|
| Entry Age | 30 years |
| Basic Sum Assured | ₹15,00,000 |
| Policy Term | 20 years |
| Premium Paying Term | 16 years |
| 1st Survival Benefit (End of Yr 16) | ₹6,75,000 (45% of ₹15L) |
| 2nd Survival Benefit (End of Yr 18) | ₹6,75,000 (45% of ₹15L) |
| Total Survival Benefits | ₹13,50,000 |
| Sum Assured on Maturity (10% of BSA) | ₹1,50,000 |
| Total Guaranteed Additions (Yr 1–16) | ₹11,55,000 approx. |
| Loyalty Addition (indicative) | ₹30,000+ |
| Total Maturity Benefit (excl. LA) | ₹13,05,000 approx. |
| Grand Total Payout (Survival + Maturity) | ₹26,55,000+ |
| Death Cover (125% of BSA) | ₹18,75,000 + GA accrued |
Optional Riders – LIC Bima Shree Plan 748
You can enhance Plan 748’s coverage by adding up to 4 optional riders at a small extra premium. Note: you can choose either the Accidental Death & Disability Rider OR the Accident Benefit Rider — not both simultaneously.
| Rider Name | What It Covers | When Available |
|---|---|---|
| Accidental Death & Disability Benefit Rider | Additional lump sum on accidental death; disability benefit paid in monthly instalments over 10 years | Any time within PPT (min 5 years remaining) |
| Accident Benefit Rider | Additional lump sum on accidental death only (no disability cover) | Any time within PPT (min 5 years remaining) |
| New Term Assurance Rider | Additional life cover (term cover) during the policy term | At policy inception only |
| Premium Waiver Benefit Rider | Future premiums waived on death of proposer (for minor policyholders) | At policy inception only |
| Critical Illness Rider | Lump sum benefit on diagnosis of covered critical illness (15 illnesses covered) | At policy inception only |
Tax Benefits on LIC Bima Shree Plan 748
Section 80C – Premium Deduction
Annual premiums paid towards LIC Bima Shree Plan 748 qualify for tax deduction up to ₹1.5 lakh per year under Section 80C of the Income Tax Act. Since minimum annual premium for a ₹10 lakh policy is around ₹1 lakh+, most policyholders will utilize this limit fully.
Important condition: 80C benefit is available only if the annual premium does not exceed 10% of the Basic Sum Assured. For Plan 748, where BSA minimum is ₹10 lakh and annual premium is approximately ₹1.08 lakh, this condition is naturally satisfied.
Section 10(10D) – Tax-Free Maturity & Survival Benefits
Both the maturity amount (Sum Assured on Maturity + GA + LA) and survival benefits received during the policy term are fully tax-free under Section 10(10D) — subject to the 10% premium-to-BSA condition above.
Death benefit received by the nominee is completely tax-free with no upper limit.
Surrender Value & Loan Facility – Plan 748
Surrender Value
The policy can be surrendered after paying at least one full year’s premium. However:
- Guaranteed Surrender Value (GSV): Available after payment of at least 2 full years’ premiums
- Special Surrender Value (SSV): Available after completion of the first policy year (1 full year premium paid)
- You receive whichever is higher — GSV or SSV
Loan Against Policy
After the policy acquires a surrender value (typically after 1 year with 1 full year’s premium paid), you can take a loan of up to 90% of surrender value for an in-force policy (80% for paid-up policies). Loan interest rate is fixed by LIC from time to time — currently around 10.5% p.a. compounding half-yearly.
Who Should Buy LIC Bima Shree Plan 748?
✅ This Plan Is Right For You If:
- You are an HNI or business owner looking to invest ₹10 lakh+ in guaranteed, tax-free returns
- You want life cover + guaranteed savings in a single product
- You need regular liquidity at specific intervals (survival benefits act as planned cash flows)
- You are in a high tax bracket and want to maximize Section 80C and 10(10D) benefits
- You want a limited premium paying plan — pay for fewer years, enjoy benefits for longer
- You want your maturity/death benefit payable in instalments for retirement income planning
- You want to defer survival benefits and let them grow with interest
❌ This Plan May NOT Be Right For You If:
- Your annual premium budget is below ₹80,000–₹1,00,000 (minimum sum assured is ₹10 lakh)
- You want purely the highest possible returns — mutual funds or market-linked ULIPs may suit better
- You need very high life cover relative to premium — pure term plans are more cost-efficient for this
- Your investment horizon is less than 10 years — Plan 748 is a long-term commitment
- You cannot commit to premium payments consistently — lapses significantly reduce benefits
LIC Bima Shree Plan 748 – Pros & Cons
| ✅ Advantages | ❌ Disadvantages |
|---|---|
| Guaranteed Additions — contractually fixed, not market-dependent | High minimum sum assured (₹10 lakh) — not accessible to all |
| Limited premium payment term — pay less years than the policy runs | Loyalty Additions are non-guaranteed — actual payout may vary |
| Two tax-free survival benefits during the policy term | Returns lower than pure equity/mutual funds over same period |
| Death cover of 125% BSA from Day 1 | Surrender value is low in early years — liquidity risk |
| Up to 4 optional riders for enhanced protection | Long lock-in period — not ideal for short-term goals |
| Settlement option — receive in instalments over 5/10/15 years | GST adds 4.5% in Year 1 on top of premium |
| Loan facility from Year 1 (after 1 full year’s premium) | Critical Illness rider is limited to specific illnesses listed |
| Full tax-free maturity and survival benefits under 10(10D) | Death within first 5 years excludes Loyalty Addition |
LIC Bima Shree Plan 748 vs Other LIC Plans – Comparison
| Feature | Bima Shree 748 | Bima Ratna 764 | Jeevan Labh 736 | New Endowment 814 |
|---|---|---|---|---|
| Plan Type | Money Back | Money Back | Endowment | Endowment |
| Target | HNI (₹10L+ BSA) | HNI (₹5L+ BSA) | General | General |
| Guaranteed Additions | ✅ Yes (₹50/₹55) | ✅ Yes | ❌ No | ❌ No |
| Bonus Type | GA + Loyalty Add. | GA + Loyalty Add. | Simple Rev. Bonus | Simple Rev. Bonus |
| Survival Benefits | ✅ 2 Payouts | ✅ 3 Payouts | ❌ No | ❌ No |
| Limited PPT | ✅ PPT = PT−4 | ✅ PPT = PT−4 | ✅ Yes | ❌ Regular Pay |
| Death Cover | 125% BSA or 7×AP | 125% BSA or 7×AP | SA + Bonus | SA + Bonus |
| Settlement Option | ✅ 5/10/15 Yrs | ✅ Yes | ❌ No | ❌ No |
| Min BSA | ₹10 Lakh | ₹5 Lakh | ₹2 Lakh | ₹1 Lakh |
| Section 80C | ✅ Yes | ✅ Yes | ✅ Yes | ✅ Yes |
| Tax-Free Maturity | ✅ 10(10D) | ✅ 10(10D) | ✅ 10(10D) | ✅ 10(10D) |
Expert Tips – Getting the Most From LIC Bima Shree Plan 748
💡 Tip 1: Choose Longer Term for Higher Survival Benefits
A 20-year term gives 45% of BSA at each survival benefit — that’s 90% of BSA as cash back before maturity. If you have the patience, longer terms maximise total payout.
💡 Tip 2: Defer Survival Benefits if You Don’t Need Immediate Cash
LIC pays interest on deferred survival benefits. If you’re in a high-income phase and don’t need the money at Year 10/12, defer it — the accumulated amount at maturity will be higher.
💡 Tip 3: Add the Critical Illness Rider at Inception
The Critical Illness rider covering 15 illnesses must be added at policy inception — you cannot add it later. Given rising healthcare costs, this is one of the best value additions to Plan 748.
💡 Tip 4: Pay Annual Mode for Maximum Rebate
LIC offers a mode rebate for yearly payment — you pay slightly less effective premium than monthly/quarterly mode. Over a 10–16 year PPT, this adds up significantly.
💡 Tip 5: Never Surrender in First 5 Years
The real value of this plan — Loyalty Additions and full GAs — accrues over time. Surrendering before 5 years means zero Loyalty Additions and very low surrender value. Take a loan if you need cash urgently.
💡 Tip 6: Use Settlement Option for Retirement Planning
If your policy matures at or near retirement age, choose the 10 or 15-year settlement option. LIC pays you monthly/quarterly instalments — creating a guaranteed income stream for your retirement years.
Frequently Asked Questions – LIC Bima Shree Plan 748 Calculator
Conclusion – Is LIC Bima Shree Plan 748 Worth It?
If you’re an HNI looking for a plan that gives you guaranteed tax-free returns, regular cash flows during the policy term, strong life cover, and flexible payout options — LIC Bima Shree Plan 748 is one of the best products LIC offers in this category.
The Guaranteed Additions alone (₹50–₹55 per ₹1,000 BSA per year) set it apart from bonus-based endowment plans where returns depend on LIC’s annual valuation. For a ₹10 lakh policy on a 14-year term, you’re looking at ₹5.25 lakh in guaranteed additions — on top of survival benefits and maturity payout.
Use the LIC Bima Shree Plan 748 Calculator above to run your exact numbers. Compare policy terms, adjust the sum assured, and find what works best for your financial goals. Then speak with your LIC advisor for the official policy illustration before purchasing.
Looking for whole life coverage instead? Check our LIC Jeevan Umang 745 Calculator or the LIC Jeevan Utsav Plan Calculator for lifetime income options.
Mohibul Islam is an LIC agent with 7+ years of experience. He also works in web development and blogging. He creates simple tools on LIC Plan Calculator to help people understand LIC plans, calculate benefits, and make better financial decisions easily.