✦ LIC Amritbaal Plan 774
LIC’s Amritbaal (Plan 774)
Non-par children’s savings plan with guaranteed additions. Secure your child’s future with guaranteed lump-sum at age 18–25.
Child’s Details
Enter the child’s information to calculate the policy
Optional — appears in the summary report
0–13 years (last birthday) · Minimum age: 30 days completed
Optional — auto-fills Age at Entry when provided
Child receives lump-sum when they reach this age · Min term: 5 yrs (Single), 10 yrs (Limited)
Auto-calculated: Maturity Age − Entry Age
Policy Details
Non-par · Guaranteed Additions ₹80/₹1,000/yr · Deterministic results
ℹ Non-Participating Plan: LIC Amritbaal (Plan 774) is a non-par plan — benefits are fully guaranteed from day one. No bonus scenarios or estimates. Guaranteed Additions accrue at ₹80 per ₹1,000 BSA per year throughout the policy term. Premiums shown are indicative; actual premium is determined at inception by LIC based on entry age and maturity age. Consult your LIC agent before purchase.
Your Premium Summary
Premium details
Per Instalment
₹0
incl. GST
Guaranteed Maturity
₹0
at maturity age
IRR (Est. Return)
—%
pre-tax CAGR · guaranteed
PPT / Term
— Yrs
policy duration
Premium Breakdown
Benefit Details
All benefits are 100% guaranteed — non-par plan
₹0
Basic Sum Assured
base coverage amount
₹0
Total Guaranteed Additions
₹80/₹1,000 BSA/yr × term
₹0
Guaranteed Maturity Benefit
BSA + Total GA · 100% guaranteed
₹0
Death Benefit (After Risk)
SA on Death + Accrued GA
Year 1
Risk Commencement
full cover from policy start
₹80
GA Rate
per ₹1,000 BSA per year
⚠ Risk Commencement Note: Since the child’s entry age is below 8 years, risk cover commences after 2 year(s) from policy start (i.e., from policy year 3). Before risk commencement, death benefit is refund of premiums paid only. From risk commencement onwards, full death benefit applies.
Amritbaal Feature — Guaranteed Addition Growth
Fixed ₹80/₹1,000 BSA accrues every year — 100% guaranteed, no market dependency
Single Pay: entire term is premium-free after Day 1 payment
Guaranteed Addition Accumulation by Year
| Policy Year | Child’s Age | Annual GA | Cumul. GA | Maturity Value Now | Status |
|---|
Year-by-Year Policy Statement
Premium payments, guaranteed benefits & surrender values at each policy anniversary
| Year | Child’s Age | Premium Paid | Cumul. Premium | Accrued GA | Death Benefit | Surr. Value | Status |
|---|
🟢 = Premium-free year (after PPT) | ⚠ = Pre-risk (DB = premium refund only) | — = Not applicable
Policy Value Growth Chart
All values 100% guaranteed — Cumulative Premium vs Guaranteed Maturity Value
Key Policy Metrics
Financial ratios and plan efficiency indicators
Total Premium Paid (excl. GST)
₹0
Total Guaranteed Maturity
₹0
Net Gain (Maturity − Premium)
₹0
Return Multiple
0.00×
GA as % of Maturity
0%
IRR (Guaranteed CAGR)
—%
Death Cover Multiple (of AP)
—×
Annual GA Earned per ₹ Premium
₹0
Export & Share
Download or share your personalised policy summary
📚 LIC Amritbaal Plan 774 — Complete Guide
LIC Amritbaal (Plan 774) — Full Details, Calculator & Guide (2025)
LIC Amritbaal (Plan No. 774, UIN: 512N365V02) is a non-participating, non-linked, individual life insurance savings plan specially designed to secure your child’s future financial goals. It combines guaranteed life cover with 100% guaranteed additions (₹80 per ₹1,000 BSA per year), making it one of LIC’s most predictable children’s plans — no market risk, no bonus uncertainty.
In This Article
- Plan Overview & Key Features
- Eligibility & Policy Terms
- Four Coverage Options Explained
- Guaranteed Additions — How They Work
- Maturity Benefit Formula
- Death Benefit & Risk Commencement
- Premium Structure & Modes
- Sample Premiums (Brochure Verified)
- Worked Example — Age 5, ₹5 Lakh, 20 Years
- Surrender & Loan Values
- Riders Available
- Tax Benefits
- Amritbaal vs Other Children’s Plans
- Frequently Asked Questions
1. Plan Overview & Key Features
LIC’s most predictable children’s savings plan — 100% guaranteed corpus
LIC Amritbaal Plan 774 was launched in 2024 as a dedicated children’s savings plan. The word “Amritbaal” (अमृतबाल) combines amrit (immortal/precious) and baal (child), reflecting LIC’s intent — to provide an immortal financial foundation for every child.
What makes Amritbaal unique?
- 100% Guaranteed: It’s non-par — no bonus risk, no market risk. Every rupee of return is guaranteed from day one.
- Guaranteed Additions: ₹80 per ₹1,000 BSA added every year — not as a one-time addition but throughout the entire policy term.
- Flexible Maturity: You choose when the child receives the money — at age 18, 19, 20, 21, 22, 23, 24, or 25.
- Premium-Free Growth: Under Limited Pay, pay for just 5/6/7 years — the Guaranteed Additions keep accruing for the full term.
- Newborn Coverage: Enrollable from 30 days of age.
0–13
Entry Age (Yrs)
18–25
Maturity Age (Yrs)
₹80
GA per ₹1,000/yr
5/6/7
PPT Options (Yrs)
₹2L
Min Sum Assured
Non-Par
Plan Type
BSA + GA
Maturity Benefit
100% guaranteed from Day 1
8% p.a.
GA Rate (Flat)
₹80 per ₹1,000 BSA per year
0% Market
No Market Risk
Non-linked, non-par plan
4 Options
Coverage Flexibility
Options I–IV (2 Limited + 2 Single)
2. Eligibility & Policy Parameters
Entry conditions, terms, and BSA limits
| Parameter | Minimum | Maximum | Notes |
|---|---|---|---|
| Entry Age (Child) | 0 years (30 days completed) | 13 years (last birthday) | Age as on last birthday |
| Maturity Age | 18 years | 25 years | Child’s age when plan matures |
| Policy Term | 5 yrs (Single) / 10 yrs (Limited) | 25 years | = Maturity Age − Entry Age |
| Premium Paying Term (PPT) | 5 years | 7 years (or Single Pay) | Limited: 5, 6, or 7 years only |
| Basic Sum Assured (BSA) | ₹2,00,000 | No upper limit | ₹25,000 multiples up to ₹24L; ₹50,000 multiples above ₹24L |
| Risk Commencement | Immediate if entry age ≥ 8; deferred if age < 8 (see Section 6) | Earlier of 2 yrs from start or anniversary at age 8 | |
| Policy Vesting | Policy vests in life assured at policy anniversary on/after age 18 | Child becomes policy owner at 18 | |
| Proposer (Premium Payer) | 18 years | — | Parent/guardian pays premiums; child is the life assured |
The life assured is the child. The proposer (parent or guardian) pays premiums. If the proposer opts for the PWBR rider, future premiums are waived in case of the proposer’s death or disability — the child’s plan continues uninterrupted.
Minimum Term Constraint (Limited Pay)
For Limited Pay, the policy term must be at least PPT+3 years (minimum 10 years overall). Examples:
- PPT 5: min policy term = 10 years (overall min for Limited Pay)
- PPT 6: min policy term = 10 years (PPT+3 = 9, but overall min is 10)
- PPT 7: min policy term = 10 years (PPT+3 = 10 ✓)
For Single Pay, the minimum policy term is 5 years.
3. Four Coverage Options Explained
Two options for Limited Pay and two for Single Pay — same maturity, different death cover
| Option | Pay Type | SA on Death (Death Benefit Base) | Min. Death Benefit | Best For |
|---|---|---|---|---|
| Option I | Limited Pay | Higher of: 7× Annual Premium or BSA | 105% of premiums paid | Budget-conscious; standard cover |
| Option II | Limited Pay | Higher of: 10× Annual Premium or BSA | 105% of premiums paid | Higher life cover during paying years |
| Option III | Single Pay | Higher of: 1.25× Single Premium or BSA | — | Single pay, standard cover |
| Option IV | Single Pay | 10× Single Premium | — | Maximum life cover on single payment |
Death Benefit = SA on Death + Accrued Guaranteed Additions
The “SA on Death” above is the base. To this, all accrued GA up to the date of death is added. For Options I and II, the death benefit also cannot be less than 105% of all premiums paid to date.
Option Comparison: Age 5, BSA ₹5L, Term 20 Yrs
| Option | Annual Premium (approx.) | SA on Death | DB at Year 10 | Maturity Benefit |
|---|---|---|---|---|
| I (PPT 7) | ₹73,625 | max(7×AP, BSA) = ₹5,15,375 | ≈ ₹9,15,375 | ₹13,00,000 |
| II (PPT 7) | ₹73,900 | max(10×AP, BSA) = ₹7,39,000 | ≈ ₹11,39,000 | ₹13,00,000 |
| III (Single) | ₹3,89,225 (one-time) | max(1.25×SP, BSA) = ₹5,00,000 | ≈ ₹9,00,000 | ₹13,00,000 |
| IV (Single) | ₹4,12,600 (one-time) | 10×SP = ₹41,26,000 | ≈ ₹45,26,000 | ₹13,00,000 |
Note: DB at Year 10 = SA on Death + 10 × ₹40,000 GA = SA on Death + ₹4,00,000. Maturity is same for all options for equal BSA and term — only the death benefit structure differs.
4. Guaranteed Additions — How They Work
Fixed ₹80 per ₹1,000 BSA accrues every policy year — 100% guaranteed
Unlike participating plans where bonuses vary year to year, Amritbaal’s Guaranteed Additions (GA) are fixed in the policy contract from inception. The rate is:
Annual GA = ₹80 × (BSA ÷ ₹1,000)
Example: BSA ₹5,00,000 → Annual GA = ₹80 × 500 = ₹40,000 per year
Example: BSA ₹5,00,000 → Annual GA = ₹80 × 500 = ₹40,000 per year
These additions accrue every year throughout the entire policy term — including the premium-free years after PPT ends. The total GA is simply:
Total GA at Maturity = ₹80 × (BSA ÷ 1,000) × Policy Term
GA Growth Table (BSA ₹5,00,000)
| Policy Term | Annual GA | Total GA at Maturity | BSA (Base) | Total Maturity | GA as % of Maturity |
|---|---|---|---|---|---|
| 10 yrs | ₹40,000 | ₹4,00,000 | ₹5,00,000 | ₹9,00,000 | 44.4% |
| 13 yrs | ₹40,000 | ₹5,20,000 | ₹5,00,000 | ₹10,20,000 | 51.0% |
| 15 yrs | ₹40,000 | ₹6,00,000 | ₹5,00,000 | ₹11,00,000 | 54.5% |
| 18 yrs | ₹40,000 | ₹7,20,000 | ₹5,00,000 | ₹12,20,000 | 59.0% |
| 20 yrs (Age 5→25) | ₹40,000 | ₹8,00,000 | ₹5,00,000 | ₹13,00,000 | 61.5% |
| 25 yrs (Newborn→25) | ₹40,000 | ₹10,00,000 | ₹5,00,000 | ₹15,00,000 | 66.7% |
💡 Key insight: For a 25-year policy (newborn to age 25), the Total Guaranteed Additions DOUBLE the BSA — you receive 3× your original sum assured at maturity. The longer the term, the greater the GA component.
GA vs Participating Bonus — What’s the Difference?
| Feature | Guaranteed Addition (Plan 774) | Bonus (Participating Plans) |
|---|---|---|
| Rate | Fixed at ₹80/₹1,000/yr | Varies annually; declared by LIC |
| Certainty | 100% guaranteed from day 1 | Not guaranteed; historical avg ≈ ₹35–₹60/₹1,000 |
| Dependence on LIC profits | None | Yes — depends on actuarial surplus |
| Predictability | Calculate exact maturity at inception | Estimated only |
| FAB (Final Additional Bonus) | Not applicable | Possible on maturity/death claims |
5. Maturity Benefit Formula
Fully guaranteed, stated in the policy document at inception
If the life assured (child) survives the full policy term, the policyholder receives:
Maturity Benefit = Basic Sum Assured + Total Guaranteed Additions
= BSA + (₹80 × (BSA ÷ 1,000) × Policy Term)
= BSA × [1 + 0.08 × Term]
= BSA + (₹80 × (BSA ÷ 1,000) × Policy Term)
= BSA × [1 + 0.08 × Term]
Quick Reference — Maturity Multiples of BSA
| Policy Term | Maturity / BSA Ratio | Example: BSA ₹10L → Maturity |
|---|---|---|
| 5 years | 1.40× | ₹14,00,000 |
| 10 years | 1.80× | ₹18,00,000 |
| 13 years | 2.04× | ₹20,40,000 |
| 15 years | 2.20× | ₹22,00,000 |
| 18 years | 2.44× | ₹24,40,000 |
| 20 years | 2.60× | ₹26,00,000 |
| 25 years | 3.00× | ₹30,00,000 |
6. Death Benefit & Risk Commencement
Critical rule for children enrolled below age 8
Death Benefit Formula
On death of the life assured (child) during the policy term:
Death Benefit = SA on Death + Accrued Guaranteed Additions to date of death
For Options I & II: also subject to floor of min 105% of all premiums paid
For Options I & II: also subject to floor of min 105% of all premiums paid
Risk Commencement — Critical Rule for Young Children
⚠ Important — Entry Age Below 8 Years:
If the child’s age at entry is less than 8 years, risk cover does not commence immediately. It is deferred:
If the child’s age at entry is less than 8 years, risk cover does not commence immediately. It is deferred:
- Risk commences after the earlier of: 2 years from policy start, or years remaining until the child turns 8.
- Before risk commencement: Death Benefit = Refund of premiums paid only (no SA on Death, no GA).
- From risk commencement: Full death benefit (SA on Death + Accrued GA).
Risk Commencement Examples
| Entry Age | Risk Commences After | Risk Active From Year | Pre-Risk DB |
|---|---|---|---|
| ≥ 8 years | Immediately | Year 1 | N/A — full DB from start |
| 7 years | min(2, 1) = 1 year | Year 2 | Year 1: premium refund only |
| 6 years | min(2, 2) = 2 years | Year 3 | Years 1–2: premium refund only |
| 5 years | min(2, 3) = 2 years (capped) | Year 3 | Years 1–2: premium refund only |
| 0 years (newborn) | min(2, 8) = 2 years (capped) | Year 3 | Years 1–2: premium refund only |
Once risk has commenced, the death benefit remains active for the entire remaining policy term, even after premium payment ends (Limited Pay). The proposer (parent) continues to be protected via the PWBR rider if opted.
8. Sample Premiums — Brochure Verified
Child Age 5 · BSA ₹5,00,000 · Maturity Age 25 (Term 20 Yrs) · Yearly Mode
| Option | PPT | Annual Premium (Base) | Year 1 (incl. 4.5% GST) | Year 2+ (incl. 2.25% GST) | Maturity |
|---|---|---|---|---|---|
| Option I (Limited) | 5 Yrs | ₹99,625 | ₹1,04,108 | ₹1,01,866 | ₹13,00,000 |
| 6 Yrs | ₹84,275 | ₹88,067 | ₹86,172 | ||
| 7 Yrs | ₹73,625 | ₹76,938 | ₹75,279 | ||
| Option II (Limited) | 5 Yrs | ₹1,00,100 | ₹1,04,605 | ₹1,02,352 | |
| 6 Yrs | ₹84,625 | ₹88,433 | ₹86,530 | ||
| 7 Yrs | ₹73,900 | ₹77,226 | ₹75,560 | ||
| Option III (Single) | Single | ₹3,89,225 | ₹4,06,740 (4.5% GST) | N/A | ₹13,00,000 |
| Option IV (Single) | Single | ₹4,12,600 | ₹4,31,167 (4.5% GST) | N/A | ₹13,00,000 |
Source: LIC Amritbaal Sales Brochure (UIN 512N365V02). All amounts in Indian Rupees. Maturity benefit is 100% guaranteed. GST-inclusive amounts are indicative based on current GST rates.
9. Worked Example — Age 5, ₹5 Lakh BSA, Maturity Age 25
Step-by-step breakdown of Option I, PPT 7 brochure illustration
📋 Policy Details: Child Age: 5 yrs · BSA: ₹5,00,000 · Maturity Age: 25 (Term: 20 yrs) · Pay Type: Limited Pay, PPT 7 yrs · Option: I · Mode: Yearly
Step 1: Annual Premium
From brochure: Annual base premium = ₹73,625
- Year 1 (incl. 4.5% GST) = ₹73,625 × 1.045 = ₹76,938
- Year 2–7 (incl. 2.25% GST) = ₹73,625 × 1.0225 = ₹75,279
Step 2: Total Premiums Paid
Total premiums paid (excl. GST) = ₹73,625 × 7 = ₹5,15,375
Step 3: Guaranteed Additions
Annual GA = ₹80 × (5,00,000 ÷ 1,000) = ₹80 × 500 = ₹40,000 per year
Total GA at maturity (20 years) = ₹40,000 × 20 = ₹8,00,000
Step 4: Maturity Benefit
Maturity Benefit = BSA + Total GA = ₹5,00,000 + ₹8,00,000 = ₹13,00,000
Step 5: Risk Commencement
Entry age 5 < 8 years: Risk commences after min(2, 8−5) = 2 years → from Year 3 onwards.
- Year 1–2: DB = refund of premiums paid (₹73,625 and ₹1,47,250)
- Year 3 onwards: Full death benefit (SA on Death + Accrued GA)
Step 6: Death Benefit (if death in Year 15)
- SA on Death = max(7 × ₹73,625, ₹5,00,000) = max(₹5,15,375, ₹5,00,000) = ₹5,15,375
- Accrued GA in 15 years = ₹40,000 × 15 = ₹6,00,000
- Death Benefit = ₹5,15,375 + ₹6,00,000 = ₹11,15,375
Step 7: Limited Pay Advantage (Phase View)
PREMIUM PHASE
7 Years
Pay ₹73,625/yr
GA accruing
GA accruing
PREMIUM-FREE PHASE
13 Years
No premiums
GA still accruing
GA still accruing
MATURITY
₹13L
BSA + GA
100% guaranteed
100% guaranteed
Year-by-Year Snapshot
| Year | Child’s Age | Prem Paid (₹) | Cum. Prem (₹) | Accrued GA (₹) | Death Benefit (₹) | Status |
|---|---|---|---|---|---|---|
| 1 | 6 | 73,625 | 73,625 | 40,000 | 73,625 (prem. refund) | ⚠ Pre-Risk |
| 2 | 7 | 73,625 | 1,47,250 | 80,000 | 1,47,250 (prem. refund) | ⚠ Pre-Risk |
| 3 | 8 | 73,625 | 2,20,875 | 1,20,000 | 6,35,375 | 💳 Paying |
| 5 | 10 | 73,625 | 3,68,125 | 2,00,000 | 7,15,375 | 💳 Paying |
| 7 | 12 | 73,625 | 5,15,375 | 2,80,000 | 7,95,375 | 💳 Last Year |
| 8 | 13 | — | 5,15,375 | 3,20,000 | 8,35,375 | 🟢 Prem-Free |
| 10 | 15 | — | 5,15,375 | 4,00,000 | 9,15,375 | 🟢 Prem-Free |
| 15 | 20 | — | 5,15,375 | 6,00,000 | 11,15,375 | 🟢 Prem-Free |
| 20 | 25 | — | 5,15,375 | 8,00,000 | 13,00,000 ★ | 🎉 Maturity |
Estimated IRR (guaranteed): ≈ 5.5% p.a. CAGR (pre-tax, on premiums excl. GST). Use the calculator above for exact values.
10. Surrender & Loan Values
Guaranteed Surrender Value (GSV) structure and loan provisions
Surrender Value — When Available
The policy acquires a surrender value after at least 2 full years’ premiums have been paid (Limited Pay) or after the first year (Single Pay).
GSV Composition
The Guaranteed Surrender Value (GSV) has two components:
- GSV on Premiums Paid: For Single Pay — 75% of SP (years 1–3), 90% of SP (year 4+). For Limited Pay — a factor (30%–90%) of total premiums paid, increasing with policy year.
- GSV on Accrued GA: A factor of accrued GA based on years remaining to maturity (factor decreases as fewer years remain).
Total surrender value = GSV on premiums + GSV on accrued GA. LIC may also declare a Special Surrender Value (SSV) which can be higher — the policyholder receives the higher of GSV or SSV.
Policy Loan
| Policy Type | Loan Amount | Interest Rate |
|---|---|---|
| Limited Pay — In-force | Up to 90% of Surrender Value | 9.50% p.a. compounding half-yearly |
| Limited Pay — Paid-up | Up to 80% of Surrender Value | 9.50% p.a. compounding half-yearly |
| Single Pay | Up to 75% of Surrender Value | 9.50% p.a. (8.50% for female education) |
Paid-Up Value
If premiums are discontinued after at least 2 full years paid, the policy converts to a paid-up policy with a reduced paid-up sum assured and proportionate paid-up GA. Coverage continues on a reduced basis.
A lapsed policy can be revived within 5 years from the first unpaid premium by paying all due premiums with interest. Revival restores full policy benefits.
11. Riders Available
LIC’s Premium Waiver Benefit Rider — protects the child’s plan if the proposer dies
LIC’s Premium Waiver Benefit Rider (PWBR) — UIN: 512B204V03
Available under Limited Pay only (not Single Pay, not via POSP). This rider is taken on the proposer’s (parent/guardian’s) life, not the child’s.
- On the proposer’s death or permanent total disability: all future premiums of the base policy are completely waived.
- The child’s policy continues uninterrupted in full force — GAs keep accruing and the full maturity benefit is paid.
- An additional rider premium is charged; it also attracts GST.
Add-on
Note: No Accidental Death, Accident Benefit, or Term Assurance riders are available on the child’s life (Plan 774). PWBR is the only available rider and it is on the proposer’s life.
12. Tax Benefits
Section 80C deduction on premiums; Section 10(10D) exemption on maturity
| Section | Benefit | Limit | Notes |
|---|---|---|---|
| Section 80C | Premium paid deductible from taxable income | Up to ₹1,50,000 per year | Only if premium ≤ 10% of BSA; Plan 774 generally qualifies |
| Section 10(10D) | Maturity proceeds tax-free | No upper limit | Applicable if annual premium ≤ ₹5 lakh (post Apr 2023 rule) |
| Section 10(10D) — Single Pay | Maturity proceeds tax-free | Single premium ≤ 10% of BSA condition | Verify with your CA for high BSA single pay policies |
Important Tax Note (Post-April 2023): For life insurance policies issued on or after 1 April 2023, if the aggregate annual premium exceeds ₹5 lakh, the maturity proceeds are taxable under “income from other sources.” For most Amritbaal policies with standard BSA this limit is not exceeded. Consult a tax advisor for high-value policies.
13. Amritbaal vs Other Children’s Plans
How Plan 774 compares to other LIC children’s products
| Feature | LIC Amritbaal (774) | LIC Jeevan Tarun (834) | LIC New Children’s Money Back (832) |
|---|---|---|---|
| Plan Type | Non-Par (Guaranteed) | Participating | Participating |
| Returns | 100% guaranteed (GA ₹80/₹1,000/yr) | Bonus (variable) | Bonus + survival benefits |
| Entry Age | 0–13 years | 0–12 years | 0–12 years |
| PPT Options | 5, 6, 7 yrs or Single Pay | Regular or limited | Regular (till age 18/25) |
| Maturity Timing | Age 18–25 (your choice) | Age 25 (fixed) | Age 25 (fixed) |
| Predictability | Exact maturity known at inception | Estimated only | Estimated only |
| Survival Benefits | None (lump sum at maturity) | None till maturity | At ages 18, 20, 22 (20% each) |
| Best For | Goal-based planning with certainty | Long-term with bonus upside | Staggered payouts for milestones |
14. Frequently Asked Questions
Common questions about LIC Amritbaal Plan 774
Can I buy Amritbaal for a newborn baby? ▼
Yes! Amritbaal accepts entry from as young as 30 days (completed). So a newborn can be enrolled. The minimum entry age is technically 0 years (last birthday), subject to the 30-day minimum. For entry age 0, the policy term can be up to 25 years (maturity at age 25). However, note that risk commencement is deferred by 2 years from policy start for children under age 8.
What happens if I miss premium payments? ▼
A grace period of 30 days is allowed for yearly/half-yearly/quarterly modes and 15 days for monthly mode. If the premium is not paid within the grace period:
- If at least 2 years’ premiums paid: Policy converts to a paid-up policy with reduced benefits.
- If less than 2 years paid: Policy lapses and all benefits cease.
Are the Guaranteed Additions declared every year or fixed at inception? ▼
They are fixed at policy inception and stated in the policy document — they are NOT declared year by year like participating bonuses. The rate is ₹80 per ₹1,000 BSA per year, for every year of the policy term, without exception. This makes the maturity benefit 100% predictable from the day you buy the plan.
After the PPT ends, does the life cover continue? ▼
Yes, absolutely. This is one of the key benefits of Limited Pay. Once you’ve paid premiums for 5, 6, or 7 years, the policy continues in full force for the entire remaining term — no further premiums needed. The child remains covered, Guaranteed Additions keep accruing every year, and the full maturity benefit is paid at maturity.
What is the difference between Option I and Option II? ▼
Both are Limited Pay options with identical maturity benefits for the same BSA and term. The difference is in the death benefit base (SA on Death):
- Option I: SA on Death = max(7 × Annual Premium, BSA). Slightly lower annual premium.
- Option II: SA on Death = max(10 × Annual Premium, BSA). Slightly higher premium but significantly more death cover when AP × 10 > BSA.
What is the UIN of LIC Amritbaal Plan 774? ▼
The UIN (Unique Identification Number) of LIC Amritbaal is 512N365V02. The plan number is 774. “512” is LIC’s insurer code, “N365” is the product code, and “V02” indicates version 2 of the product. Always verify the UIN with LIC directly before purchase.
Is Amritbaal better than a bank FD for my child’s education? ▼
Each has its own advantages:
- Amritbaal advantages: Life cover (PWBR ensures the goal is met even if parent dies), guaranteed returns with known IRR (~5–6% pre-tax), 80C tax deduction, 10(10D) tax-free maturity, and disciplined long-term savings.
- FD advantages: Higher flexibility (can break early), current FD rates ~7–7.5% (pre-tax, so ~5–5.5% post 30% tax), no lock-in beyond tenure.
Disclaimer: This article is for informational and educational purposes only. Premium amounts shown are indicative based on LIC’s published brochure (UIN: 512N365V02). Actual premiums and benefits are determined by LIC at policy inception. Guaranteed Additions accrue at ₹80 per ₹1,000 BSA per year throughout the policy term. Tax benefits are subject to Income Tax Act provisions in force and may change. GST rates are as currently applicable. Surrender values shown are Guaranteed Surrender Values; actual surrender value may be higher if Special Surrender Value exceeds GSV. Please consult a licensed LIC agent or financial advisor before purchasing. LIC of India is the only authority for official premium and benefit amounts.
LIC Endowment Plan Calculator
LIC Insurance Plans
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.