LIC Term Plan Calculator
| Year | Type | Cover | Paid | Death Benefit |
|---|
LIC Term Assurance Plan Calculators
Explore LIC Term Assurance plans and calculate premium, maturity amount, surrender value, survival benefit, pension, or policy benefits based on the selected plan.
LIC Digi Term
An online term insurance plan designed to provide life cover for a selected policy term through a digital application process.
View Calculator →LIC Digi Credit Life
A term assurance plan intended to provide life insurance protection linked to repayment responsibilities for eligible borrowers.
View Calculator →LIC Yuva Credit Life
A credit-linked term plan designed for young borrowers who require life cover against outstanding loan obligations.
View Calculator →LIC Yuva Term
A term insurance plan focused on providing financial protection for young adults during their selected coverage period.
View Calculator →LIC New Tech-Term
An online term assurance plan offering life cover with policy options that can be selected based on coverage needs.
View Calculator →LIC New Jeevan Amar Plan 955
A pure protection term assurance plan created to provide financial support to nominees in case of the life assured’s death.
View Calculator →LIC Saral Jeevan Bima Calculator
A simple standard term insurance plan designed to provide basic life cover under straightforward policy conditions.
View Calculator →LIC Bima Kavach
A protection-focused insurance plan designed to offer life cover for a chosen policy term under applicable conditions.
View Calculator →LIC Term Assurance Plan Calculator is a useful online tool for estimating the premium, death benefit, maturity benefit, policy term eligibility and plan-wise cover rules of LIC’s term insurance plans. Term assurance plans are mainly designed to provide financial protection to the family of the life assured if death happens during the policy term. These plans usually do not provide maturity benefit because the main purpose is pure life risk protection, not savings or investment.
LIC’s official Term Assurance Plans page lists 8 plans under this category: LIC’s Digi Term, LIC’s Digi Credit Life, LIC’s Yuva Credit Life, LIC’s Yuva Term, LIC’s New Tech-Term, LIC’s New Jeevan Amar, LIC’s Saral Jeevan Bima and LIC’s Bima Kavach. The official page also provides plan numbers and UIN numbers for these products.
A combined LIC Term Assurance Plan Calculator is helpful because every term plan does not work in the same way. Some plans offer level or increasing cover, some are online-only, some are offline plans, some are credit life plans with decreasing cover, and Saral Jeevan Bima has a special 45-day waiting period rule. So, a proper calculator should not only calculate estimated premium; it should also show eligibility, death benefit, maturity benefit, premium payment type, rider benefit, and plan-specific notes.
What Are LIC Term Assurance Plans?
LIC Term Assurance Plans are life insurance products where the focus is on death risk cover. If the life assured dies during the policy term and the policy is active, the nominee receives the death benefit as per the selected plan rules. If the life assured survives till the end of the policy term, normally no maturity benefit is payable.
For example, LIC’s Digi Term is described as a non-par, non-linked, life, individual, pure risk plan that provides financial protection to the insured person’s family in case of unfortunate death during the policy term. The plan is available online only and offers Level Sum Assured and Increasing Sum Assured options.
This is why term insurance is usually chosen for protection planning. It helps estimate how much cover may be needed for family expenses, loans, children’s education, long-term liabilities and income replacement. The calculator makes this process easier by showing plan-wise results in one place.
LIC Term Assurance Plans Covered in This Calculator
| Plan Name | Plan No. | UIN | Main Calculator Type |
|---|---|---|---|
| LIC’s Digi Term | 876 | 512N356V02 | Online pure term plan |
| LIC’s Digi Credit Life | 878 | 512N358V01 | Online decreasing credit life plan |
| LIC’s Yuva Credit Life | 877 | 512N357V01 | Offline decreasing credit life plan |
| LIC’s Yuva Term | 875 | 512N355V02 | Offline pure term plan |
| LIC’s New Tech-Term | 954 | 512N351V02 | Online pure term plan |
| LIC’s New Jeevan Amar | 955 | 512N350V02 | Offline pure term plan |
| LIC’s Saral Jeevan Bima | 859 | 512N341V01 | Standard simple term plan |
| LIC’s Bima Kavach | 887 | 512N360V01 | High-cover term plan |
These 8 plans are listed on LIC’s official Term Assurance Plans page with their plan numbers and UIN numbers.
Why a Combined LIC Term Assurance Plan Calculator Is Needed
A normal term calculator usually asks for age, policy term, sum assured and premium mode. But LIC’s term assurance category contains different plan structures. A single formula cannot correctly explain all plans.
For example, LIC’s Digi Term and LIC’s Yuva Term are pure term plans with Level Sum Assured and Increasing Sum Assured options. LIC’s Digi Credit Life and LIC’s Yuva Credit Life are decreasing cover plans where the cover reduces according to a risk cover schedule. LIC’s Saral Jeevan Bima has a 45-day waiting period. LIC’s Bima Kavach is a high-cover plan with coverage available up to age 100 and an optional Life Stage feature under selected conditions.
Because of these differences, a combined calculator gives better clarity. It allows plan selection first and then changes the input fields automatically according to the selected plan. This avoids confusion and gives a cleaner user experience.
Main Highlights of the LIC Term Assurance Plan Calculator
| Highlight | Why It Is Useful |
|---|---|
| All LIC term plans in one tool | No need to check separate calculators for every plan |
| Plan-wise eligibility check | Helps find whether age, term and cover amount are valid |
| Level and increasing cover options | Shows how death cover changes by policy year |
| Credit life decreasing cover | Useful for loan protection planning |
| Saral Jeevan Bima waiting period logic | Helps understand first 45 days rule |
| Premium mode comparison | Shows yearly, half-yearly, monthly or single premium where applicable |
| GST/tax separation | Shows base premium and tax separately |
| Maturity benefit display | Clearly shows that term plans generally have no maturity value |
| Rider benefit option | Useful for eligible plans with Accident Benefit Rider |
| Compact mobile design | Easy to use on mobile, tablet and desktop |
This calculator is different from many basic online calculators because it does not treat every LIC term plan as the same product. It separates pure term plans, credit life plans, Saral Jeevan Bima and Bima Kavach logic. This makes the estimate more informative for users who want to compare protection-based LIC plans before reading the detailed brochure.
Important Inputs Used in the Calculator
The calculator uses several inputs to estimate results. These include:
- Plan name
- Age at entry
- Gender
- Smoker or non-smoker status
- Sale channel, where applicable
- Basic Sum Assured
- Policy term
- Premium payment option
- Premium mode
- Death benefit option
- Death or benefit year
- GST or tax percentage
- Optional manual premium
- Rider option for eligible plans
- Credit life interest rate for loan-cover plans
These inputs matter because LIC term plan premiums and benefits can depend on age, gender, smoking status, policy term, premium paying term and selected death benefit option. LIC’s Digi Term brochure states that premium depends on age at entry, smoking status, gender, policy term, premium paying term and death benefit option chosen.
Level Sum Assured and Increasing Sum Assured
Many LIC term assurance plans offer two death benefit options: Level Sum Assured and Increasing Sum Assured.
Under Level Sum Assured, the death cover remains the same throughout the policy term. If the Basic Sum Assured is ₹50 lakh, the cover remains ₹50 lakh in every policy year, subject to policy terms and claim admissibility.
Under Increasing Sum Assured, the cover remains equal to the Basic Sum Assured up to the fifth policy year. From the sixth policy year, it increases by 10% of the Basic Sum Assured every year until it becomes twice the Basic Sum Assured. From the sixteenth policy year onward, it remains at twice the Basic Sum Assured. LIC’s Digi Term brochure explains this increasing cover structure clearly.
For example, if the Basic Sum Assured is ₹50 lakh:
| Policy Year | Death Cover |
|---|---|
| Year 1 to 5 | ₹50 lakh |
| Year 6 | ₹55 lakh |
| Year 7 | ₹60 lakh |
| Year 8 | ₹65 lakh |
| Year 10 | ₹75 lakh |
| Year 15 | ₹1 crore |
| Year 16 onward | ₹1 crore |
This option may be useful for people who want their life cover to grow during the policy term.
Death Benefit Calculation
For many pure term LIC plans, the death benefit for regular premium and limited premium policies is generally the highest of:
- 7 times annualized premium
- 105% of total premiums paid up to death
- Absolute amount assured to be paid on death
For single premium policies, the death benefit is generally higher of:
- 125% of single premium
- Absolute amount assured to be paid on death
LIC’s Digi Term and Bima Kavach brochures mention this structure for death benefit calculation.
The calculator uses this logic to estimate the base death benefit. It also shows the death cover in the selected policy year. This is useful because under increasing cover, the death cover may be different in different years.
Maturity Benefit in LIC Term Assurance Plans
Most term assurance plans are pure protection plans. This means the main benefit is payable on death during the policy term. If the life assured survives till the end of the term, no maturity benefit is payable.
For example, LIC’s Digi Term brochure states that no maturity benefit is payable on survival to the end of the policy term. LIC’s New Tech-Term and Saral Jeevan Bima brochures also mention no maturity benefit on survival.
That is why the calculator shows:
Maturity Benefit: ₹0
This avoids misunderstanding. Term assurance should not be compared with endowment, money back, whole life or pension plans because those plans may include savings, survival benefits or maturity benefits. Term plans are mainly for protection.
LIC Digi Term Calculator
LIC’s Digi Term is an online pure risk plan. It is available only online and provides flexibility to choose Level Sum Assured or Increasing Sum Assured. The brochure mentions special rates for women, smoker and non-smoker premium categories, high sum assured rebate and premium payment options such as single, regular and limited premium.
The calculator for Digi Term should check:
| Input | Rule |
|---|---|
| Age | 18 to 45 years |
| Minimum Sum Assured | ₹50 lakh |
| Maximum Sum Assured | ₹5 crore, higher case-by-case |
| Maturity Age | Up to 75 years |
| Premium Options | Single, regular, limited 10, limited 15 |
| Death Options | Level or increasing |
Digi Term is useful for users looking for an online term plan where the focus is family protection at a relatively simple cost structure.
LIC Yuva Term Calculator
LIC’s Yuva Term is similar in purpose to Digi Term, but it is an offline plan. It is suitable for people who prefer buying through LIC’s offline channel such as agents or branches. The official page lists LIC’s Yuva Term as Plan No. 875 with UIN 512N355V02.
The calculator treats Yuva Term as a pure risk term plan. It includes Level Sum Assured, Increasing Sum Assured, regular premium, single premium and limited premium options. The result shows estimated premium, death cover in selected year, total premium paid and maturity benefit as zero.
LIC New Tech-Term Calculator
LIC’s New Tech-Term is an online term assurance plan. Its brochure mentions entry age from 18 to 65 years, maximum maturity age of 80 years, minimum Basic Sum Assured of ₹50 lakh and policy term starting from 10 years. It also offers Level Sum Assured and Increasing Sum Assured options.
The calculator includes Accident Benefit Rider option for this plan because the brochure mentions rider availability and conditions. The rider amount is shown separately so that base death benefit and rider benefit remain clear.
This is important because rider premium and base premium should not be mixed while explaining the death benefit. Taxes and rider premiums are generally treated separately in benefit calculations.
LIC New Jeevan Amar Calculator
LIC’s New Jeevan Amar is an offline pure term insurance plan. Its brochure shows minimum Basic Sum Assured of ₹25 lakh and maximum Basic Sum Assured subject to underwriting decision. It also explains the increasing sum assured pattern where cover increases by 10% of Basic Sum Assured from the sixth policy year until it reaches twice the Basic Sum Assured.
The calculator for New Jeevan Amar is useful for people looking for an offline term plan with flexible cover options. It shows age eligibility, premium estimate, death benefit, maturity benefit and rider benefit where selected.
LIC Digi Credit Life and Yuva Credit Life Calculator
Digi Credit Life and Yuva Credit Life need a different calculation method because these are credit life term plans. In such plans, the cover is not level for the full term. It reduces according to a risk cover schedule.
LIC’s Digi Credit Life brochure explains that it is a pure decreasing term assurance plan where the death benefit reduces over the policy term. The risk cover schedule is prepared using the Basic Sum Assured, policy term and selected interest rate. Available schedule interest rates are 6%, 7%, 8%, 9%, 10%, 11% and 12%.
The calculator uses a decreasing loan-cover formula to estimate cover for each policy year. This is especially useful for people who want term cover linked to a loan-like liability.
However, one important point must be understood: the risk cover schedule may not match the actual loan outstanding. LIC’s Digi Credit Life brochure states that the death benefit as per the risk cover schedule may be higher or lower than the actual outstanding loan.
LIC Saral Jeevan Bima Calculator
LIC’s Saral Jeevan Bima is a standard simple term plan. It has a lower sum assured range compared with high-cover term plans. The brochure mentions minimum Basic Sum Assured of ₹5 lakh, maximum Basic Sum Assured of ₹25 lakh, sum assured multiples of ₹50,000, entry age from 18 to 65 years, maximum maturity age of 70 years and policy term from 5 to 40 years.
The most important calculator rule for Saral Jeevan Bima is the 45-day waiting period. During the waiting period, death due to accident is covered. But if death is not due to accident during the waiting period, 100% of premiums received excluding taxes is payable and the Basic Sum Assured is not paid.
The calculator therefore includes a waiting period field. This makes the calculator more useful than a simple premium tool because it explains the real benefit logic.
LIC Bima Kavach Calculator
LIC’s Bima Kavach is a high-cover pure risk term plan. The brochure states that it can be purchased offline as well as online, has Level Sum Assured and Increasing Sum Assured options, offers single, regular and limited premium payment options, and provides coverage up to age 100.
Bima Kavach has minimum Basic Sum Assured of ₹2 crore, with maximum subject to underwriting. It also allows Accident Benefit Rider under eligible premium payment modes.
A special feature of Bima Kavach is the Life Stage Option. Under eligible conditions, cover may be enhanced on marriage, first child and second child. The brochure states that this option is available under Level Sum Assured with Regular Premium payment, where entry age is up to 40 years, subject to other conditions.
The calculator includes this option only when the selected inputs are eligible. This makes the calculator more practical and avoids showing options that are not allowed.
How to Use the LIC Term Assurance Plan Calculator
Using the LIC Term Assurance Plan Calculator is simple:
Step 1: Select the plan
Choose one plan from the dropdown list. The calculator automatically updates plan information such as plan name, plan number, UIN, plan type and eligibility rules.
Step 2: Enter age at entry
Enter the age of the life assured. The calculator checks whether the age is allowed for the selected plan.
Step 3: Select gender and smoker status
Select male or female and smoker or non-smoker. These inputs affect estimated premium calculation because term premium generally depends on risk category.
Step 4: Enter Basic Sum Assured
Add the required life cover amount. For example, ₹50 lakh, ₹1 crore or ₹2 crore depending on the selected plan.
Step 5: Enter policy term
Choose the number of years for which cover is required. The calculator checks maximum maturity age also.
Step 6: Select premium payment option
Choose regular, single or limited premium option, depending on the selected plan.
Step 7: Select death benefit option
Choose Level Sum Assured or Increasing Sum Assured where available. Credit life plans automatically use decreasing cover logic.
Step 8: Enter benefit year
Enter the policy year for which the death benefit should be calculated. This is useful for increasing and decreasing cover plans.
Step 9: Enter GST or tax rate
The calculator separates tax from premium so the payable premium is easier to understand.
Step 10: Click Calculate
The result shows eligibility, estimated premium, tax amount, total payable premium, selected year cover, base death benefit, rider benefit and maturity benefit.
Real Calculation Example
Here is a simple example using the calculator:
| Input | Value |
|---|---|
| Plan | LIC’s Yuva Term |
| Age | 30 years |
| Gender | Male |
| Smoker Status | Non-Smoker |
| Basic Sum Assured | ₹50,00,000 |
| Policy Term | 25 years |
| Premium Payment | Regular Premium |
| Premium Mode | Yearly |
| Death Benefit Option | Level Sum Assured |
| Benefit Year | 10th year |
| GST / Tax | 18% |
Estimated Result
| Result | Amount |
|---|---|
| Estimated Annual Premium | ₹9,450 |
| GST / Tax at 18% | ₹1,701 |
| Total Payable Premium | ₹11,151 |
| Death Cover in 10th Year | ₹50,00,000 |
| Base Death Benefit | ₹50,00,000 |
| Maturity Benefit | ₹0 |
In this example, the selected option is Level Sum Assured, so the cover remains ₹50 lakh in the 10th policy year. Since this is a term assurance plan, the maturity benefit is shown as ₹0. The actual LIC premium may differ because exact premium depends on LIC’s official premium table, underwriting, medical rules, rebates, taxes and other applicable conditions.
Why Users Should Use This Calculator
This calculator is useful because term insurance decisions should not be made only by looking at the premium. The real question is whether the selected plan gives the right cover, for the right term, with the right benefit structure.
The calculator helps in comparing different LIC term plans in one place. It shows whether the selected age and term are eligible. It also explains whether the plan has level cover, increasing cover, decreasing loan cover, waiting period rule or rider option.
For users comparing several plans, this saves time. Instead of opening different brochures again and again, the calculator gives a quick working estimate and important benefit notes. It is especially helpful for understanding Bima Kavach, Saral Jeevan Bima and Credit Life plans because these products have special rules.
Why This Calculator Is Different from Other Calculators
Many calculators available online only calculate premium. They do not explain policy term restrictions, maturity benefit, death benefit formula or plan-specific logic. This calculator focuses on the full user journey.
It includes:
- all 8 LIC term assurance plans,
- plan-wise UIN and plan number,
- estimated premium,
- death cover in selected year,
- maturity benefit,
- credit life decreasing cover schedule,
- Saral Jeevan Bima waiting period,
- Bima Kavach Life Stage option,
- rider benefit where applicable,
- tax-separated result,
- eligibility validation.
This makes it more suitable for educational comparison. It does not replace LIC’s official premium quotation, but it gives a structured understanding before contacting LIC or reading the complete policy document.
Important Limitations
The calculator should be used as an estimate tool only. LIC brochures provide plan rules, sample premiums, eligibility, benefit structure and important conditions, but complete premium rate tables for every possible combination are not always available in the public brochure.
Exact premium may change based on:
- age,
- gender,
- smoker or non-smoker status,
- sum assured,
- policy term,
- premium paying term,
- sale channel,
- underwriting decision,
- medical reports,
- occupational risk,
- rider selection,
- GST or tax,
- high sum assured rebate,
- online sale rebate where applicable.
Therefore, the calculator result should be treated as an educational estimate. Final premium and acceptance are subject to LIC rules, underwriting and official quotation.
FAQs on LIC Term Assurance Plan Calculator
1. Does this calculator include all LIC term assurance plans?
Yes. The calculator includes all 8 plans listed on LIC’s official Term Assurance Plans page: Digi Term, Digi Credit Life, Yuva Credit Life, Yuva Term, New Tech-Term, New Jeevan Amar, Saral Jeevan Bima and Bima Kavach.
2. Does the calculator show exact LIC premium?
No. It gives an estimated premium. Exact premium requires LIC’s official premium table, underwriting rules, medical assessment, tax calculation and applicable rebates.
3. Why is maturity benefit shown as zero?
Term assurance plans are pure protection plans. LIC brochures for these plans generally mention that no maturity benefit is payable if the life assured survives the policy term.
4. What is increasing sum assured?
Increasing Sum Assured means the cover stays equal to Basic Sum Assured for the first five policy years, then increases by 10% every year from year 6 to year 15, and remains at 200% from year 16 onward.
5. What is credit life cover?
Credit life cover is a decreasing term cover generally used for loan protection. In LIC’s Digi Credit Life, the risk cover schedule is prepared using Basic Sum Assured, policy term and selected interest rate.
6. What is special about Saral Jeevan Bima?
Saral Jeevan Bima has a 45-day waiting period. During this period, accidental death is covered, but non-accidental death leads to payment of premiums received excluding taxes instead of Basic Sum Assured.
Conclusion
LIC Term Assurance Plan Calculator is a practical tool for understanding LIC’s term insurance plans in a simple way. It brings all LIC term assurance plans into one calculator and helps estimate premium, death benefit, maturity benefit, eligibility, rider benefit and plan-specific rules.
The biggest advantage is clarity. Instead of treating all plans equally, the calculator separates pure term plans, credit life plans, Saral Jeevan Bima and Bima Kavach. This makes the result more meaningful and easier to understand.
For protection planning, the calculator can help compare cover amounts, policy terms and death benefit options before taking the next step. However, the final decision should always be based on the official LIC brochure, policy document, premium quotation and underwriting rules.