| Tabular Premium (Annual) | ₹0 |
| Online Rebate | −₹0 |
| Net Annual Premium | ₹0 |
| GST — Year 1 | ₹0 |
| Year 1 Instalment (incl. GST) | ₹0 |
| GST — Year 2+ | ₹0 |
| Year 2+ Instalment (incl. GST) | ₹0 |
| Total Premium Paid (excl. GST) | ₹0 |
| Year | Child’s Age | Premium Paid | Cumul. Premium | Accrued GA | Death Benefit | Surr. Value | Maturity | Status |
|---|
The LIC Amritbaal Plan 874 calculator is the most searched tool for Indian parents who want to plan their child’s future financially using Life Insurance Corporation’s child-specific savings plan. Whether you are comparing LIC Amritbaal plan 874 calculator results with the older Plan 774 version, or simply want a quick estimate of your premiums and maturity amount, this page gives you everything — an interactive online calculator, printable PDF-style summaries, downloadable Excel-equivalent tables, and a thorough explanation of every plan feature.
LIC’s Amritbaal (Plan 874) is a non-participating, non-linked, individual, savings, life insurance plan designed specifically to build a guaranteed corpus for a child’s future needs — education, marriage, or business — by the time the child reaches adulthood (age 18 to 25). The plan was launched under UIN 512N365V01.
The word “Amritbaal” (अमृतबाल) means “immortal child” in Sanskrit — reflecting the plan’s promise to provide an immortal financial shield for your child’s aspirations. The plan accumulates Guaranteed Additions (GA) of ₹80 per ₹1,000 of Basic Sum Assured every year, from the first policy year through to maturity, regardless of market conditions.
Key Highlights of LIC Amritbaal Plan 874
- 100% Guaranteed Returns — no bonuses, no estimates, no market risk
- Guaranteed Additions at ₹80 per ₹1,000 BSA every policy year
- Flexible Policy Term — child matures the policy at age 18, 19, 20, 21, 22, 23, 24 or 25
- Two Pay Types — Limited Pay (5/6/7 years PPT) or Single Pay
- Online Rebate — 10% for Limited Pay, 2% for Single Pay when purchased via LIC portal
- Four Coverage Options — Option I, II (Limited Pay) and Option III, IV (Single Pay)
- Settlement Option — receive maturity as annual instalments over 5, 10 or 15 years
- Optional PWBR Rider — waives future premiums on proposer’s death/disability
- Tax Benefits — under Section 80C and Section 10(10D) of the Income Tax Act
Our LIC Amritbaal plan 874 calculator online (embedded above) lets you compute everything in under 30 seconds. Here is a step-by-step guide:
Step-by-Step: Using the LIC Amritbaal Plan 874 Calculator
- Enter Child’s Details — type the child’s name (optional), age at entry (0–13 years), and date of birth (optional; auto-fills age). Select the desired Maturity Age (18–25); the policy term is auto-calculated.
- Enter Basic Sum Assured (BSA) — minimum ₹2,00,000. Use multiples of ₹25,000 up to ₹24 lakh; ₹50,000 multiples above ₹24 lakh. No maximum limit.
- Choose Premium Pay Type — “Limited Pay” (5, 6 or 7 years) or “Single Pay”. For limited pay, also select the PPT (5/6/7 years) and Coverage Option (I or II).
- Select Premium Mode (Limited Pay only) — Yearly, Half-Yearly, Quarterly, or Monthly (ECS). Yearly mode carries no loading.
- Pick Purchase Channel — “Offline / Agent” or “Online (Direct)”. Selecting Online shows the rebate amount instantly — this is the LIC Amritbaal plan 874 calculator online rebate feature.
- Choose Settlement Option — Lump Sum at maturity, or spread across 5, 10, or 15 years at 4.62% p.a.
- Click Calculate — get instantaneous results: per-instalment amount, maturity benefit, IRR, year-by-year table, growth chart, and a shareable summary.
| Feature | Details |
|---|---|
| Plan Name | LIC’s Amritbaal |
| Plan No. | 874 |
| UIN | 512N365V01 |
| Plan Type | Non-Par, Non-Linked, Individual, Savings |
| Life Assured | Child (the insured life) |
| Proposer | Parent / Guardian |
| Min Entry Age | 30 days completed (0 years LBD) |
| Max Entry Age | 13 years (last birthday) |
| Min Maturity Age | 18 years |
| Max Maturity Age | 25 years |
| Min Policy Term | 5 years (Single Pay) · 10 years (Limited Pay) |
| Max Policy Term | 25 years (entry age 0, maturity age 25) |
| Premium Pay Type | Limited Pay (PPT 5/6/7 yr) or Single Pay |
| Min PPT Constraint | Policy Term ≥ PPT + 3 years (Limited Pay) |
| Min Basic Sum Assured | ₹2,00,000 |
| Max Basic Sum Assured | No limit (subject to underwriting) |
| BSA Multiples | ₹25,000 (up to ₹24L) · ₹50,000 (above ₹24L) |
| Guaranteed Addition Rate | ₹80 per ₹1,000 BSA per year |
| Premium Modes | Yearly, Half-Yearly, Quarterly, Monthly (ECS) — Limited Pay only |
| Online Rebate | 10% (Limited Pay) · 2% (Single Pay) |
| Rider Available | LIC’s Premium Waiver Benefit Rider (UIN: 512B204V04) |
| Loan Available | Yes — after 2 years (Single Pay) / after 3 years (Limited Pay) |
1. Maturity Benefit
On survival of the life assured (child) to the end of the policy term, the plan pays a lump sum equal to:
Total GA = ₹80 × (BSA / 1,000) × Policy Term (years)
Example: BSA ₹5,00,000, Policy Term 20 years → Total GA = ₹80 × 500 × 20 = ₹8,00,000 → Maturity = ₹5,00,000 + ₹8,00,000 = ₹13,00,000
2. Death Benefit
On death of the life assured (child) during the policy term, the nominee receives:
- Before Risk Commencement (entry age < 8 years, during deferral period): Refund of all premiums paid (excluding GST) from inception to date of death.
- After Risk Commencement: SA on Death + Accrued Guaranteed Additions to date of death (see Coverage Options section for SA on Death formula).
3. Guaranteed Addition Accumulation
GAs accrue from the first policy year through to maturity at a flat rate of ₹80 per ₹1,000 BSA per year. This equates to an 8% GA rate on BSA per year. GAs are payable on surrender (subject to GSV factor), death (accrued to date), or maturity (full amount). They are not paid separately during the term — they accumulate and are paid as a lump sum with BSA at the triggering event.
4. Settlement Option
Instead of a lump-sum maturity payment, the policyholder may elect to receive the maturity benefit in annual instalments over 5, 10, or 15 years at an interest rate of 4.62% p.a. effective (current declared rate). The calculator computes the annual instalment amount automatically when you select this option.
Where i = 4.62% p.a., n = settlement years (5, 10, or 15)
LIC Amritbaal Plan 874 offers four coverage options that determine the SA on Death (the amount used to compute the death benefit). Options I and II are for Limited Pay; Options III and IV are for Single Pay.
| Option | Pay Type | SA on Death Formula | Min Death Benefit Floor |
|---|---|---|---|
| Option I | Limited Pay | Higher of 7× Annual Premium OR Basic Sum Assured | 105% of all premiums paid (excl. GST) |
| Option II | Limited Pay | Higher of 10× Annual Premium OR Basic Sum Assured | 105% of all premiums paid (excl. GST) |
| Option III | Single Pay | Higher of 1.25× Single Premium OR Basic Sum Assured | 105% of Single Premium paid (excl. GST) |
| Option IV | Single Pay | 10× Single Premium | Not available via POSP channel |
Note: The total death benefit in all cases is SA on Death + Accrued Guaranteed Additions (from policy start to date of death), subject to the minimum floor noted above. Option II and IV provide significantly higher death cover but may carry a marginally higher premium.
Surrender Value (GSV)
The policy acquires a Guaranteed Surrender Value (GSV) after completing the minimum premium payment period:
- Limited Pay: GSV available from the end of year 2 (if 2 annual premiums paid)
- Single Pay: GSV available from the end of year 2
GSV (Single Pay) = GSV Factor (75% in yr2–3, 90% yr4+) × Net Single Premium + GSV Factor on GA × Accrued GA
The GSV factor on premiums paid increases with policy duration (from 30% in year 2 up to 90% near maturity). The GSV factor on accrued GA decreases as remaining term shortens (from 100% in the maturity year down toward 0.2% at 25 years remaining).
Policy Loan
A loan can be availed once the policy has acquired a surrender value:
- Maximum loan: up to 90% of the Surrender Value
- Interest rate: as declared by LIC from time to time (typically 10% p.a. effective)
- The outstanding loan balance (with interest) is deducted from the claim proceeds
Many users search for both the LIC Amritbaal plan 774 calculator and the LIC Amritbaal plan 874 calculator — wondering what changed. Here is a clear comparison. If you need LIC Amritbaal 774 plan details PDF download, the two plans share identical benefit structures; only the UIN and online rebate differ.
| Feature | Plan 774 (Old) | Plan 874 (New) |
|---|---|---|
| UIN | 512N365V02 | 512N365V01 |
| Online Rebate | ❌ Not available | ✅ 10% (Limited) · 2% (Single) |
| GA Rate | ₹80 / ₹1,000 BSA/yr | ₹80 / ₹1,000 BSA/yr |
| Entry Age | 0–13 years | 0–13 years |
| Maturity Age | 18–25 years | 18–25 years |
| PPT Options | 5, 6, 7 years | 5, 6, 7 years |
| Coverage Options | I, II (Ltd) · III, IV (Single) | I, II (Ltd) · III, IV (Single) |
| Settlement Option | Available @ 4.62% | Available @ 4.62% |
| PWBR Rider | Available (Limited only) | Available (Limited only) |
| Min BSA | ₹2,00,000 | ₹2,00,000 |
| Effective Premium (Online) | Same as tabular | 10% lower (Limited Pay online) |
- Section 80C: Premium paid for the policy (paid by proposer) is eligible for deduction up to ₹1.5 lakh per financial year. The premium must not exceed 10% of the Sum Assured (BSA) in a given year to be fully eligible.
- Section 10(10D): Maturity proceeds (BSA + Total GA) and death claim are fully exempt from income tax, provided the premium in any year does not exceed 10% of BSA. For policies issued on or after 1 April 2023 with annual premium exceeding ₹5 lakh, partial taxability rules apply — consult a tax advisor.
- GST: GST paid on premiums is not eligible for 80C deduction but is also not taxable at the hands of the insured at maturity.
The primary difference is the online purchase rebate. Plan 874 (UIN: 512N365V01) offers a 10% rebate for Limited Pay and 2% rebate for Single Pay when purchased through LIC’s official online portal. Plan 774 (UIN: 512N365V02) does not offer this rebate. All other features — GA rate, coverage options, maturity formula, death benefit, policy terms, riders — are identical between the two versions.
Yes! After entering your details and clicking Calculate, click the “Print / Save PDF” button in the results section. In the print dialog, select “Save as PDF” as the destination. This creates a personalised LIC Amritbaal plan 874 calculator PDF download for your records. Alternatively, use Ctrl+P / ⌘P directly on this page.
Our LIC Amritbaal plan 874 calculator online uses the same Present Value formula and loading factors calibrated against verified brochure samples (e.g., Age 5, BSA ₹10L, PPT 7, Option I → ₹73,625 annual premium). Results are highly accurate for planning purposes. The final premium is always confirmed by LIC at policy inception and may differ marginally due to age rounding or LIC-specific adjustments. Always consult your LIC agent before purchase.
For BSA ₹5,00,000, entry age 5, maturity age 25 (policy term 20 years):
- Total Guaranteed Additions = ₹80 × 500 × 20 = ₹8,00,000
- Guaranteed Maturity Benefit = ₹5,00,000 + ₹8,00,000 = ₹13,00,000
Use the LIC Amritbaal plan 874 calculator above to also see the premium, IRR, and full year-by-year breakdown for this scenario.
After calculating, click “Copy Summary” in the Export section. The text summary includes all premium figures, maturity amounts, and yearly values. Paste into Excel for further analysis — this is the closest equivalent to a LIC Amritbaal plan 874 calculator Excel file. For a structured table, select all cells in the year-by-year table and paste into Excel directly from the browser.
The policy acquires a Guaranteed Surrender Value (GSV) after 2 completed years (if at least 2 annual premiums have been paid for Limited Pay, or from year 2 for Single Pay). The GSV is:
- Year 2: approximately 30% of premiums paid + adjusted GA factor
- Year 3: approximately 35% of premiums paid + adjusted GA factor
- Years 4–PPT: approximately 50% of premiums paid + adjusted GA factor
- Near maturity: up to 90% of premiums paid + near-full GA
Early surrender results in significant loss. It is strongly recommended to hold the policy to maturity to realise the full guaranteed benefit.
Yes. LIC provides a free look period of 30 days from the date of receipt of the policy document for policies purchased online or through distance marketing. For policies sold otherwise, the free look period is 15 days. During this period, you may return the policy and receive a full refund of premium paid (minus proportionate risk premium and stamp duty charges).
LIC policies, including Amritbaal Plan 874, are primarily designed for resident Indians. NRIs may purchase certain LIC plans through the NRI portal, but Amritbaal’s NRI availability depends on the country of residence and applicable FEMA regulations. Consult your LIC branch or NRI services team directly for confirmation.
The LIC Amritbaal Plan 874 calculator on this page is the most comprehensive free tool available for planning your child’s financial future under this plan. With guaranteed returns of ₹80 per ₹1,000 BSA per year, zero market risk, and a new online rebate of up to 10%, Plan 874 represents one of LIC’s most attractive children’s savings offerings.
Whether you want a LIC Amritbaal plan 874 calculator PDF download for offline reference, an LIC Amritbaal plan 874 calculator online comparison across multiple scenarios, or simply a quick check of LIC Amritbaal plan details like coverage options and surrender values — this calculator provides all of that in one place. Parents comparing the LIC Amritbaal plan 774 calculator will find Plan 874 strictly superior for online purchases.
Use the interactive LIC Amritbaal Plan 874 calculator above, explore different BSA amounts, PPT options, and purchase channels to find the optimal plan configuration for your child’s unique needs. Save your results as PDF or share via WhatsApp for family discussions.