LIC Premium Calculator for every LIC plan

What is an LIC premium calculator?

An LIC premium calculator is an online tool that estimates how much you will pay for an LIC policy and what you can expect to receive in return. You enter a few details, such as your age, the plan, the policy term and the sum assured, and the calculator applies the plan’s premium rates and rules to show the yearly or monthly premium, the likely maturity amount and the death benefit.

This website brings together calculators for more than a hundred current and withdrawn LIC plans, plus general tools like the LIC maturity calculator, bonus calculator and surrender value calculator. Everything runs in your browser. There is no sign-up and nothing to download, and each plan page also shows an LIC premium chart by age and term so you can compare options at a glance.

We are an independent website and not LIC. Treat every figure as a well-informed estimate, then confirm the final premium with LIC or your agent before you sign the proposal form.

How LIC calculates your premium

Every LIC plan has a tabular premium rate: the price per ₹1,000 of sum assured for a given age and term. Your premium is built up in a few steps:

1. Age at entry. The older you are, the higher the rate, because the risk of a claim rises with age. LIC usually takes age nearer birthday, so a 29-year-old whose birthday is four months away may be charged as 30.
2. Policy term and premium paying term. A longer term spreads the savings component over more years and lowers the yearly premium. Limited-pay plans charge more per year but for fewer years.
3. Sum assured. The rate is multiplied by the sum assured divided by 1,000. A ₹10 lakh policy costs roughly twice a ₹5 lakh policy, less any rebate.
4. High sum assured rebate. Most plans reduce the rate by a small amount per ₹1,000 once the sum assured crosses certain slabs, so bigger policies are slightly cheaper per rupee of cover.
5. Mode of payment. Yearly payment usually earns a rebate of about 2% of the tabular premium and half-yearly about 1%. Quarterly and monthly (NACH or salary deduction) premiums have no rebate, so they cost more over a year.
6. Riders. Accident benefit, term rider, critical illness or premium waiver riders add their own small premium.
7. Taxes. Individual life insurance premiums have been exempt from GST since 22 September 2025, so the premium our calculators show is the amount you pay. Before that date, LIC added 4.5% GST in the first year and 2.25% after on traditional plans, and 18% on term plans, which is why older receipts show higher amounts.

A quick example: a policy with a base premium of ₹50,000 a year now costs exactly ₹50,000 a year. Under the old GST rules, the same policy cost ₹52,250 in the first year and ₹51,125 after.

Smokers, people with health conditions and some occupations may be charged extra after underwriting. A calculator cannot see these factors, which is the main reason the final quote can differ from an online estimate.

Types of LIC plans and the right calculator for each

LIC sells several families of plans. Each works differently, so each has its own calculator:

• Endowment plans pay the sum assured plus bonuses at maturity, or on earlier death. They suit disciplined, low-risk savers. Use the LIC endowment plan calculator or a plan page such as Jeevan Labh 736.
• Money back plans return a portion of the sum assured every few years during the term and pay the balance with bonuses at the end. See the LIC money back policy calculator.
• Whole life plans cover you up to age 100 and often pay a yearly income after the premium paying term, as in Jeevan Umang 745. New Jeevan Anand 715 combines an endowment payout with lifelong cover.
• Term plans give the largest cover for the lowest premium but pay nothing if you survive the term. Compare costs with the LIC term plan calculator.
• Child plans build a fund for education or marriage and many waive future premiums if the parent dies. Try the LIC child plan calculator.
• Pension and annuity plans turn a lump sum or regular savings into a lifelong income. The LIC pension calculator estimates your monthly or yearly annuity.
• ULIPs invest your premium in market-linked funds, so returns vary. The LIC ULIP plan calculator projects the fund value of SIIP 752 (regular premium) or Nivesh Plus 749 (single premium) at assumed growth rates, using their published charges.

Popular LIC plans at a glance

Figures are from published plan features and can change when LIC revises a plan. Open any plan page for its full eligibility table and premium chart.

How to read your calculator results

Each calculator shows a small set of results. Here is what they mean:

• Premium per instalment: what you pay each month, quarter, half-year or year, before tax.
• Premium per instalment: what you pay each time for the mode you chose (yearly, half-yearly, quarterly or monthly).
• Total premium paid: the sum of all instalments over the premium paying term. Compare this with the maturity estimate to judge the return.
• Maturity value: the estimated payout at the end of the term. For with-profit plans this includes bonuses at the rate you choose. Bonuses are declared yearly by LIC and are not guaranteed.
• Death benefit: what your nominee would receive if you die during the term, usually the higher of the sum assured on death and a multiple of the annual premium, plus accrued bonuses.
• Premium chart: a table of yearly premiums for a fixed sum assured at different ages and terms. It is the quickest way to see how waiting a few years raises your cost.

Tips to lower your LIC premium

• Buy earlier. Rates rise with every birthday. Buying before your age-nearer-birthday changes can save money for the whole term.
• Pay yearly if you can. The yearly rebate is effectively a small, risk-free discount.
• Choose a sensible sum assured. Going just over a rebate slab (for example, from ₹4.9 lakh to ₹5 lakh) can cut the rate per ₹1,000.
• Separate protection from savings. A term plan for cover plus a savings plan sized to your goal is often cheaper than one large endowment policy.
• Add riders only when needed. Each rider has a cost; pick the ones that fill a real gap.

Common mistakes to avoid

• Treating projected maturity as guaranteed. Bonus-based figures are estimates. Plan around the guaranteed part and treat bonuses as upside.
• Ignoring the premium paying term. A “cheap” monthly premium can mean paying for 25 or 30 years.
• Buying cover that is too small. Endowment plans give modest cover per rupee. Check whether your family would be protected by the death benefit alone.
• Surrendering early. Surrender values in the first few years are low. Use the surrender value calculator before you decide, and consider a policy loan or making the policy paid-up instead.
• Relying on screenshots of old premium charts. LIC revised many plans in October 2024. Use the current plan number when you calculate.

How to use the all-in-one LIC calculator

Choose the plan type or plan, enter your age, policy term, sum assured and payment mode, and the results update instantly. Change one input at a time to see its effect, for example the premium at a 21-year versus a 25-year term. For a detailed view, open the individual plan page from the search box above. When you have settled on a plan, take the numbers to LIC or your agent for a formal quotation.