LIC Bima Ratna 764 Plan Calculator
LIC Bima Ratna 764 Plan Calculator
A Non-Par, Non-Linked, Life, Individual Savings Plan — 100% Guaranteed Returns
| Policy Year | Age | Annual Premium (incl. GST) | Cumulative Premium | Survival Benefit | Accrued G.A. | Death Benefit | Maturity Benefit |
|---|
LIC Bima Ratna 764 Plan Calculator – Plan Details & Guide
LIC Bima Ratna Plan 764 plan is one of LIC’s premium savings and protection plans. It designed for people who want predictable benefits without depending on future bonus declarations. If you are considering this policy, the first thing you will likely want to know is how much premium you need to pay and what benefits you can expect in return.
The LIC Bima Ratna 764 Plan Calculator helps answer those questions. It estimates premiums, survival benefits, maturity value, death benefits, and guaranteed additions based on the policy details you enter.
Unlike many traditional LIC plans, Bima Ratna is a non-participating plan. This means it does not earn Simple Reversionary Bonus or Final Additional Bonus. Instead, it offers guaranteed additions, making future benefits easier to estimate and understand.
LIC Bima Ratna 764 Premium & Maturity Calculator
The calculator is designed to provide a quick estimate of the policy’s financial benefits.
It helps you compare different sum assured amounts and policy terms before making a decision.
Premium Calculation Results
The calculator typically estimates:
- Annual premium
- Half-yearly premium
- Quarterly premium
- Monthly premium
- Total premium payable
Premiums depend on age, policy term, premium paying term, and any optional riders selected.
Maturity Value Results
The maturity calculator estimates:
- Maturity benefit
- Guaranteed additions
- Total maturity value
- Survival benefits received during the policy term
Because Bima Ratna provides guaranteed additions instead of bonuses, the projected benefits are easier to understand and plan around.
What is LIC Bima Ratna Plan 764?
LIC Bima Ratna is a Non-Linked, Non-Participating Individual Savings Plan that combines long-term savings with life insurance protection.
The plan offers guaranteed additions throughout the policy term and pays survival benefits before maturity. This makes it suitable for individuals who want insurance coverage along with disciplined wealth creation.
Key Features of LIC Bima Ratna 764
- Guaranteed additions throughout the policy term
- Survival benefits before maturity
- Life insurance protection
- Loan facility available
- Settlement option available
- Multiple policy term choices
- No dependency on bonus declarations
A common misconception is that Bima Ratna works like traditional LIC bonus plans. It does not. The plan provides guaranteed additions instead of participating bonuses.
Policy Term Options
| Policy Term | Premium Paying Term |
| 15 Years | 11 Years |
| 20 Years | 16 Years |
| 25 Years | 21 Years |
This structure allows policyholders to stop paying premiums several years before maturity while the policy continues to remain in force.
LIC Bima Ratna 764 Eligibility Criteria
The minimum Basic Sum Assured under the plan is ₹5,00,000.
The Basic Sum Assured can be increased in multiples of ₹25,000. There is no specified maximum limit.
The plan is available with policy terms of 15, 20, and 25 years. Each policy term has a shorter premium paying term, which many buyers find attractive because premium obligations end earlier than the overall policy duration.
A practical approach is to choose a sum assured that remains affordable throughout the premium paying period rather than selecting coverage based solely on future benefits.
How LIC Bima Ratna 764 Calculator Works
The calculator applies official plan rules to estimate future policy benefits.
Instead of manually calculating guaranteed additions and payouts, it performs the calculations automatically.
Required Inputs
You generally need:
- Age of Life Assured
- Basic Sum Assured
- Policy Term
- Premium Payment Mode
- Rider Selection (if applicable)
Premium & Benefit Calculation Method
The calculator estimates:
- Premium payable
- Survival benefits
- Maturity benefit
- Death benefit
- Guaranteed additions
A useful strategy is to compare multiple sum assured options. Even a small increase in premium can sometimes produce significantly higher long-term benefits.
LIC Bima Ratna 764 Benefits
The plan combines guaranteed benefits with life insurance protection, making it suitable for long-term financial planning.
Survival Benefit
The survival benefit depends on the policy term selected.
For a 15-year policy term, 25% of the Basic Sum Assured is paid at the end of the 13th and 14th policy years.
If your choose 20-year policy term, 25% of the Basic Sum Assured is paid at the end of the 18th and 19th policy years.
And, for 25-year policy term, 25% of the Basic Sum Assured is paid at the end of the 23rd and 24th policy years.
In all cases, a total of 50% of the Basic Sum Assured is paid before maturity.
Death Benefit
If the life assured dies during the policy term, the death benefit is the higher of:
- 125% of Basic Sum Assured, or
- 7 times the Annualized Premium
The benefit also includes accrued Guaranteed Additions.
The death benefit will not be less than 105% of total premiums paid up to the date of death.
Maturity Benefit
On survival until maturity, the policy pays:
- 50% of Basic Sum Assured
- Accrued Guaranteed Additions
Since the other 50% of the Basic Sum Assured is already paid through survival benefits, the remaining amount becomes payable at maturity along with guaranteed additions.
Guaranteed Additions
Guaranteed Additions are credited to in-force policies throughout the policy term.
| Policy Duration | Guaranteed Addition Rate |
| Years 1 to 5 | ₹50 per ₹1,000 BSA |
| Years 6 to 10 | ₹55 per ₹1,000 BSA |
| Years 11 to 25 | ₹60 per ₹1,000 BSA |
These additions are fixed and do not depend on LIC’s future profits.
This predictability is one reason many conservative investors prefer Bima Ratna.
Loan Facility & Surrender Value
The policy offers a loan facility subject to policy conditions.
Special Surrender Value may become available after payment of one full year’s premium.
Guaranteed Surrender Value becomes available after payment of at least two full years’ premiums.
Before surrendering a policy, it is worth comparing the surrender value against future benefits because continuing the policy may provide significantly better long-term value.
LIC Bima Ratna 764 Benefit Illustration
Assume the following:
Basic Sum Assured: ₹10,00,000
Policy Term: 20 Years
The policyholder receives:
- ₹2,50,000 at the end of the 18th year
- ₹2,50,000 at the end of the 19th year
Total survival benefits received = ₹5,00,000
At maturity:
- ₹5,00,000 (remaining Basic Sum Assured)
- Accrued Guaranteed Additions
This example highlights why total benefits should be evaluated as a combination of survival benefits and maturity proceeds rather than looking at maturity value alone.
Common Mistakes to Avoid
Many people compare Bima Ratna directly with market-linked investments.
That comparison is often misleading.
Bima Ratna is designed for certainty and protection rather than maximizing investment returns.
Another common mistake is ignoring survival benefits while calculating overall returns. Since half of the Basic Sum Assured is received before maturity, those payouts should always be included in the evaluation.
Frequently Asked Questions (FAQs)
What is LIC Bima Ratna Plan 764?
LIC Bima Ratna is a non-linked, non-participating savings and protection plan that provides guaranteed additions, survival benefits, maturity benefits, and life insurance coverage.
What are the Guaranteed Additions in Bima Ratna?
Guaranteed Additions are fixed benefits added to an in-force policy. They are predetermined and do not depend on LIC’s future bonus declarations.
Can I take a loan against LIC Bima Ratna?
Yes. Loan facility is available subject to policy conditions and surrender value eligibility.
Is LIC Bima Ratna a participating plan?
No. LIC Bima Ratna is a non-participating plan and does not receive Simple Reversionary Bonus or Final Additional Bonus.
Can I surrender the policy before maturity?
Yes. Special Surrender Value and Guaranteed Surrender Value are available subject to policy conditions and premium payment requirements.
Compare LIC Bima Ratna with Other LIC Plans
Before making a final decision, it can be useful to compare Bima Ratna with other LIC plans.
If you are looking for a premium savings plan with a different benefit structure, explore the LIC Bima Shree Plan 748 Calculator.
For traditional money-back plans, the LIC Money Back Plan 720 Calculator and LIC New Money Back Plan 721 Calculator can help you compare premiums, returns, and payout schedules.
Parents planning specifically for a child’s future may also find the LIC New Children’s Money Back Plan 732 Calculator useful for understanding education-focused benefits.
Final Verdict & Point of View
The LIC Bima Ratna 764 Plan Calculator is a practical tool for understanding premiums, survival benefits, maturity value, guaranteed additions, and overall policy returns before purchasing the plan.
Its biggest strength is predictability. Because the plan relies on guaranteed additions rather than future bonus declarations, policyholders can estimate benefits with greater confidence. The combination of life insurance protection, survival benefits, maturity proceeds, and guaranteed additions makes it a strong option for individuals seeking long-term financial security.
Before purchasing, use the calculator to compare different sum assured amounts and policy terms. A few minutes spent reviewing projections today can help you choose a plan that aligns with your family’s future financial goals.
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.