The LIC Digi Term Plan 876 Calculator is a very helpful online tool that provides an estimated premium for the LIC online term insurance plan. Its calculated result is based on details such as age, gender, smoking status, Basic Sum Assured, Policy Term, Premium Paying Term, and the selected death-benefit option.

LIC Digi Term is Plan No. 876 with UIN 512N356V02. It is a non-linked, non-participating individual pure-risk plan. Its purpose is to provide financial protection to the nominee if the life assured dies during the Policy Term and the claim is accepted. It does not provide a maturity payment or bonus.

LIC Digi Term Plan 876 Calculator

The Digi Term Plan 876 Calculator helps compare the estimated cost of different cover and payment choices under Plan 876. It supports Level Sum Assured and Increasing Sum Assured, along with Regular Premium, Limited Pay for 10 years, Limited Pay for 15 years and Single Premium.

For Regular and Limited Premium policies, payment can be made Yearly or Half-Yearly. The result may show the estimated instalment premium, payment period, total scheduled base premium, maturity age and the absolute death cover applicable in a selected policy year.

Premiums vary across many policy combinations. A reliable estimate requires verified LIC Digi Term Plan 876 UIN 512N356V02 rates for the exact age, gender, smoking category, cover amount, term, and payment option. Where a verified rate is unavailable, an official LIC quotation should be obtained instead of relying on an assumed rate.

Also Check: LIC Final Settlement Calculator

What Is LIC Digi Term Plan 876?

LIC Digi Term Plan 876 is an online pure-term insurance policy. If the life assured dies while the policy is in force during the selected term, LIC pays the applicable Sum Assured on Death. If the life assured survives until the end of the term, nothing is payable.

The plan is non-linked, so its benefits are not connected to investment funds or stock-market performance. It is also non-participating, which means it does not earn Simple Reversionary Bonus, Final Additional Bonus or Loyalty Addition.

Two death-benefit options are available in this policy. Level Sum Assured keeps the absolute death amount unchanged. Increasing Sum Assured keeps the amount level for the first five policy years and then increases it gradually until it reaches twice the original Basic Sum Assured.

LIC Digi Term Plan 876 Overview

The maximum Policy Term under Increasing Sum Assured changes with entry age, cover range and premium-payment option. Therefore, a 40-year term is not available for every combination.

How to Use LIC Digi Term Calculator

1. Open the official LIC Digi Term Plan 876 Premium Calculator
2. Enter the age in completed years and select gender and smoking status.
3. Enter a Basic Sum Assured starting from ₹50 lakh.
4. Select Level Sum Assured or Increasing Sum Assured.
5. Choose an allowed Policy Term and premium-payment option.
6. Select Yearly or Half-Yearly mode for Regular or Limited Pay, then calculate the premium.

How the Premium Is Estimated

There is no single premium percentage that applies to every applicant. The premium changes with age, gender, smoking status, Basic Sum Assured, Policy Term, Premium Paying Term and death-benefit option.

A simplified calculation is:

Estimated Premium = Verified Tabular Premium − Applicable High Sum Assured Rebate + Half-Yearly Modal Adjustment, if selected + Underwriting Extra, if any + Applicable Tax, if any

Smoker premiums cannot be calculated safely by adding an assumed percentage to non-smoker rates. Similarly, LIC’s 20-year sample cannot be extended to estimate premiums for longer terms. A verified rate or official quotation is required for such combinations.

Medical history, occupation, travel, lifestyle, income and existing insurance may affect the final underwriting decision. LIC may accept the proposal at standard rates, charge an extra premium, offer changed terms, postpone the decision or decline the proposal.

LIC Digi Term Plan 876 Official Sample Premiums

LIC has provided the following sample premiums in its official brochure, for a male aged 30, classified as a non-smoker and standard life, with a Basic Sum Assured of ₹50 lakh and a 20-year Policy Term:

These figures apply only to the stated example. A change in age, gender, smoking category, term, cover, or payment choice will change the premium.

For example, the total scheduled base premium for Level Sum Assured with Limited Pay 10 is:

Annual premium × Premium Paying Term = ₹6,950 × 10 = ₹69,500

This amount assumes that all scheduled premiums are paid. It excludes any underwriting extra and does not represent a maturity value or refundable amount.

Why Use a LIC Digi Term Plan 876 Calculator?

The LIC Digi Term Plan 876 Calculator makes it easier to understand the possible cost of life insurance before requesting an official quotation. It shows how the estimated premium may change based on age, gender, smoking status, Basic Sum Assured, Policy Term, Premium Paying Term and death benefit option. It can also help compare Level and Increasing Sum Assured or Regular, Limited and Single Premium choices. This allows different combinations to be checked quickly without performing manual calculations

Eligibility Conditions

The entry age must be between 18 and 45 years. The age at the end of the Policy Term must be at least 33 years and cannot exceed 75 years.

The minimum Basic Sum Assured is ₹50 lakh and the standard maximum is ₹5 crore. LIC may consider higher cover case by case, subject to underwriting and reinsurance acceptance.

The cover must follow LIC’s permitted intervals:

For example, ₹60 lakh is allowed because it follows the ₹1 lakh interval. ₹80 lakh is not allowed because cover above ₹75 lakh must follow a ₹25 lakh interval.

The minimum instalment premium is ₹3,000 for Regular and Limited Premium policies. The minimum Single Premium is ₹30,000. Meeting these limits does not guarantee acceptance of the proposal.

Policy Term and Premium Paying Term

The Policy Term is the period for which life cover is scheduled to continue. The Premium Paying Term is the period during which premiums must be paid.

• Under Regular Premium, premiums continue throughout the Policy Term.
• Under Limited Pay 10, premiums are paid for 10 years.
• Under Limited Pay 15, premiums are paid for 15 years.
• Under Single Premium, one payment is made at the beginning.

The minimum Policy Term is 15 years for Regular Premium, Single Premium, and Limited Pay 10. The minimum is 20 years for Limited Pay 15.

Under Level Sum Assured, the maximum term is 40 years, subject to the maximum maturity age. Under Increasing Sum Assured, the maximum term depends on the entry age, cover band and payment option. Only terms permitted for the selected combination can produce a valid estimate.

Level and Increasing Sum Assured

For a Basic Sum Assured of ₹1 crore, Increasing Sum Assured provides an absolute death amount of ₹1 crore during the first five policy years. It becomes ₹1.10 crore in year 6, ₹1.20 crore in year 7, and continues increasing by ₹10 lakh each year. It reaches ₹2 crore in year 15 and remains at that level from year 16 until the end of the Policy Term.

The Basic Sum Assured itself does not change. The amount that increases is the absolute amount assured to be paid on death.

Digi Term Plan 876 Death Benefit Calculation

For an in-force Regular or Limited Premium policy, the Sum Assured on Death is the highest of:

1. Seven times the Annualised Premium;
2. 105% of Total Premiums Paid up to the date of death; or
3. The applicable absolute amount assured to be paid on death.

Sum Assured on Death = Highest of: 7 × Annualised Premium 105% × Total Premiums Paid Applicable Absolute Death Amount

For a Single Premium policy, it is the higher of:

125% × Single Premium or Applicable Absolute Death Amount

Annualized premium refers to the annual base premium excluding taxes, underwriting extras, and semi-annual modal loadings. Total premiums paid refers to the base-policy premiums actually paid, excluding taxes and extra premiums.

Factors Affecting the Premium in LIC Digi Term Plan 876 Calculator

The premium may change based on:

• Age: Premiums generally increase with age.
• Gender: Special premium rates may apply to women.
• Smoking status: Smoker premiums are normally higher than non-smoker premiums.
• Basic Sum Assured: A higher cover amount usually increases the premium.
• Policy Term: A longer cover period can affect the premium.
• Premium Paying Term: Regular, Limited or Single Premium options have different costs.
• Cover option: Increasing Sum Assured normally costs more than Level Sum Assured.
• Health: Medical conditions may increase the final premium.
• Occupation and lifestyle: Risky work or activities may result in an extra premium.
• Payment mode: Two Half-Yearly instalments may cost slightly more than one Yearly premium.
• High Sum Assured rebate: Eligible higher-cover policies may receive a premium rebate.

Death Benefit in Instalments

In LIC Digi Term Plan 876, all or part of the death benefit can be arranged for payment in instalments over 5, 10 or 15 years instead of one lump sum. The life assured must select this option while the policy is in force.

If the selected claim amount cannot provide the required minimum instalment, it is paid as a lump sum. These frequencies relate to claim payments and should not be confused with premium-payment modes.

LIC Digi Term Plan 876 Premium Calculation Example

Consider the following policy details:

• Age: 30 years
• Gender: Male
• Smoking status: Non-smoker
• Basic Sum Assured: ₹50,00,000
• Policy Term: 20 years
• Premium payment: Limited Pay for 10 years
• Death-benefit option: Level Sum Assured

Total Scheduled Premium

Total Premium = Annual Premium × Premium Paying Term = ₹6,950 × 10 = ₹69,500

Therefore, the total scheduled base premium is ₹69,500, provided all ten annual premiums are paid.

Maturity Benefit and Bonus

No maturity benefit is payable in LIC Digi Term Plan 876 if the life assured survives until the end of the Policy Term. The policy also does not earn Simple Reversionary Bonus, Final Additional Bonus or Loyalty Addition.

The total premium displayed by the calculator is the cost of maintaining the selected cover. It is not an investment value and is not returned at maturity.

High Sum Assured Rebate and Half-Yearly Premium

The High Sum Assured rebate varies according to age band, cover band, death-benefit option and premium-payment choice. There is no single discount rate for all policies. The estimate is reliable only when the exact V02 rebate for the selected combination is applied.

For Regular and Limited Premium policies, the Half-Yearly instalment is calculated after applying the relevant rebate:

Half-Yearly Instalment = Annual Premium After Applicable Rebate × 1.02 ÷ 2

The 2% is a modal conversion loading. It is not a discount.

Lapse, Revival and Unexpired Risk Premium Value

In LIC Digi Term Plan 876, a grace period of 30 days applies to Yearly and Half-Yearly premiums. The policy remains in force during this period according to its terms. If the premium remains unpaid after the grace period, the policy lapses and the risk cover stops.

A lapsed Regular or Limited Premium policy may be considered for revival within five consecutive complete years from the First Unpaid Premium and before maturity. Revival requires payment of unpaid premiums with applicable interest and satisfactory evidence of continued insurability. Cover is restored only after LIC accepts the revival.

The plan has no conventional surrender value or paid-up value. Regular Premium policies pay nothing on surrender. An Unexpired Risk Premium Value may be payable under a Single Premium policy during the term. Under Limited Premium, it may be payable only after full premiums have been paid for at least three consecutive years. The actual amount depends on LIC’s complete formula and policy records and should be confirmed through LIC.

No policy loan is available.

Tax Benefits and Tax Rules

Premiums may qualify for a deduction under Section 80C, subject to the applicable conditions and overall limit. An admissible death benefit is generally considered under Section 10(10D), subject to prevailing tax law and the policy conditions in Digi Term Plan 876.

Individual life-insurance policies, including term plans, have been exempt from GST since 22 September 2025. Tax rules can change, so the current position should be checked before claiming a deduction or exemption. Any tax collected separately is not included when calculating policy benefits.

Important Policy Conditions

The LIC Digi Term Plan 876 has a 30-day free-look period from receipt of the electronic or physical policy document, whichever is earlier. If it is returned, LIC may deduct the proportionate risk premium for the covered period, medical-examination expenses and stamp duty.

If death by suicide occurs within 12 months from commencement of risk or revival under a Regular or Limited Premium policy, the nominee is generally entitled to 80% of eligible Total Premiums Paid, subject to the policy conditions. For a Single Premium policy, the applicable amount is 80% of the eligible Single Premium. Taxes and underwriting extras are excluded.

Digi Term Plan 876 is purchased directly through the LIC Official Website.

Pros and Cons of LIC Digi Term Plan 876 Calculator

Related Calculator:

• LIC Term Plan Calculator
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Frequently Asked Questions

What is the minimum cover under Plan 876?

The minimum Basic Sum Assured is ₹50 lakh. The standard maximum is ₹5 crore, although a higher amount may be considered case by case, subject to underwriting and reinsurance acceptance.

How does Increasing Sum Assured work?

The absolute death amount remains equal to the Basic Sum Assured for five policy years. It then increases by 10% of the original Basic Sum Assured each year until it reaches twice that amount in policy year 15.

Is any maturity benefit payable?

No. Digi Term is a pure-risk term plan. It does not pay a maturity amount, return the premiums or earn bonuses when the life assured survives the Policy Term.

What happens when a premium is not paid?

A 30-day grace period applies to Yearly and Half-Yearly premiums. If payment is not made within that period, the policy lapses. Revival may be considered within five complete years, subject to payment, evidence and LIC’s approval.

Conclusion

The LIC Digi Term Plan 876 Calculator helps estimate the premium and compare Level or Increasing Sum Assured with Regular, Limited and Single Premium choices. It can also check major eligibility conditions and show how the absolute death cover changes over the policy years.

Amit Kushwaha

Amit Kushwaha is a financial content creator and SaaS tool developer based in Lucknow, Uttar Pradesh. He has more than seven years of experience creating insurance-related content, online calculators, and practical digital tools for LIC policyholders, insurance buyers, and LIC agents.

Through LICPolicyCalculator.com, he focuses on simplifying complex LIC policy information into easy-to-understand guides and calculators. His work covers LIC premium estimates, maturity calculations, surrender value tools, policy return calculations, term insurance planning, and plan-specific calculator pages.