LIC Bima Jyoti 760 is a non-par, limited premium savings plan that adds a guaranteed ₹50 for every ₹1,000 of sum assured each year. LIC withdrew it for new sales in FY 2026-27 and replaced it with New Bima Jyoti 890; existing policies continue as normal. Plan 760 has a 15 to 20-year term and you pay for five years less. A 30-year-old taking ₹10 lakh for 20 years pays about ₹61,740 a year for 15 years and gets a guaranteed ₹20 lakh at maturity.
Bima Jyoti 760 Premium & Maturity Calculator
Your estimate
fully guaranteed: sum assured + additions
- Premium per instalment
- ₹30,870
- Premium paying term
- 15 years
- Total premium paid
- ₹4,63,050
- Guaranteed additions₹50 per ₹1,000 every year
- ₹5,00,000
- Sum assured on deathplus guaranteed additions accrued
- ₹6,25,000
- Approx. return (IRR)
- 5.86%
- Age at maturity
- 50 years
- Total premium paid₹4,63,05046%
- Net gain₹5,36,95054%
Year-wise guaranteed benefits
| Policy year | Your age | Premium paid till then | Guaranteed additions accrued | Death benefit in that year |
|---|---|---|---|---|
| 1 | 31 years | ₹30,870 | ₹25,000 | ₹6,25,000 |
| 2 | 32 years | ₹61,740 | ₹50,000 | ₹6,50,000 |
| 3 | 33 years | ₹92,610 | ₹75,000 | ₹6,75,000 |
| 4 | 34 years | ₹1,23,480 | ₹1,00,000 | ₹7,00,000 |
| 5 | 35 years | ₹1,54,350 | ₹1,25,000 | ₹7,25,000 |
| 6 | 36 years | ₹1,85,220 | ₹1,50,000 | ₹7,50,000 |
| 7 | 37 years | ₹2,16,090 | ₹1,75,000 | ₹7,75,000 |
| 8 | 38 years | ₹2,46,960 | ₹2,00,000 | ₹8,00,000 |
| 9 | 39 years | ₹2,77,830 | ₹2,25,000 | ₹8,25,000 |
| 10 | 40 years | ₹3,08,700 | ₹2,50,000 | ₹8,50,000 |
| 11 | 41 years | ₹3,39,570 | ₹2,75,000 | ₹8,75,000 |
| 12 | 42 years | ₹3,70,440 | ₹3,00,000 | ₹9,00,000 |
| 13 | 43 years | ₹4,01,310 | ₹3,25,000 | ₹9,25,000 |
| 14 | 44 years | ₹4,32,180 | ₹3,50,000 | ₹9,50,000 |
| 15 | 45 years | ₹4,63,050 | ₹3,75,000 | ₹9,75,000 |
| 16 | 46 years | ₹4,63,050 | ₹4,00,000 | ₹10,00,000 |
| 17 | 47 years | ₹4,63,050 | ₹4,25,000 | ₹10,25,000 |
| 18 | 48 years | ₹4,63,050 | ₹4,50,000 | ₹10,50,000 |
| 19 | 49 years | ₹4,63,050 | ₹4,75,000 | ₹10,75,000 |
| 20 | 50 years | ₹4,63,050 | ₹5,00,000 | ₹11,00,000 |
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC Bima Jyoti Plan 760?
LIC Bima Jyoti Plan 760 is a savings policy with life cover in which the growth is fixed on day one. It is non-linked (not tied to markets), non-participating (no bonuses) and limited premium (you pay for five years less than the policy term). Its signature feature is simple: every year, LIC credits ₹50 for every ₹1,000 of sum assured as a guaranteed addition.
Plan 760 is the relaunched version of Bima Jyoti 860, which LIC withdrew in 2024. The benefit design carried over almost unchanged. LIC withdrew plan 760 for new sales in FY 2026-27 and replaced it with New Bima Jyoti 890, launched in August 2026. Existing 760 policies continue as normal, and this calculator is still useful for checking them.
Bima Jyoti 760 at a glance
| Feature | Details |
|---|---|
| Plan number | 760 |
| Plan type | Non-par, non-linked, limited premium savings plan |
| Policy term | 15 to 20 years |
| Premium paying term | Policy term minus 5 years |
| Entry age | 30 days to 60 years |
| Maturity age | 18 to 75 years (65 via POSP-LI / CPSC-SPV) |
| Minimum sum assured | ₹1,25,000 in multiples of ₹25,000; no upper limit |
| Guaranteed additions | ₹50 per ₹1,000 sum assured, every policy year |
| Premium modes | Yearly, half-yearly, quarterly, monthly (NACH) |
| Mode rebate | 2% yearly, 1% half-yearly |
| Status | Withdrawn for new sales (FY 2026-27); replaced by New Bima Jyoti 890 |
Eligibility by term
| Policy term | Pay for | Max entry age | Maturity value per ₹1 lakh |
|---|---|---|---|
| 15 years | 10 years | 60 | ₹1,75,000 |
| 16 years | 11 years | 59 | ₹1,80,000 |
| 17 years | 12 years | 58 | ₹1,85,000 |
| 18 years | 13 years | 57 | ₹1,90,000 |
| 19 years | 14 years | 56 | ₹1,95,000 |
| 20 years | 15 years | 55 | ₹2,00,000 |
For a child, the minimum term is set by the maturity age rule: a 2-year-old needs at least a 16-year term to be 18 at maturity. For children under 8, full risk cover starts later.
How the premium is calculated
The premium is a rate per ₹1,000 of sum assured that depends mainly on the term. Because most of the money goes into guaranteed savings rather than risk cover, age changes it only a little. Our calculator uses the source rates for 15 and 20-year terms, fills in the years between and adds a small loading for older entrants. Then it applies the 2% yearly or 1% half-yearly rebate. No GST is added: individual life insurance premiums are GST-exempt from 22 September 2025.
Worked example: a 30-year-old chooses ₹10 lakh sum assured.
| 15-year term | 20-year term | |
|---|---|---|
| Yearly premium | ₹82,320 | ₹61,740 |
| Years you pay | 10 | 15 |
| Total premium | ₹8,23,200 | ₹9,26,100 |
| Guaranteed additions | ₹7,50,000 | ₹10,00,000 |
| Maturity value | ₹17,50,000 | ₹20,00,000 |
| Approx. return (IRR) | 7.24% | 5.86% |
The shorter term looks better on return because you finish paying sooner and the additions still run for 15 years. The longer term needs a smaller yearly outlay.
Tip: if a big yearly payment is hard, monthly NACH spreads it out. A 35-year-old taking ₹5 lakh for 15 years pays about ₹3,544 a month in our calculator, and still gets ₹8.75 lakh at maturity.
Maturity benefit
On survival to the end of the term you receive the basic sum assured plus all guaranteed additions. Since the additions are fixed, you can work it out yourself: sum assured × (1 + 0.05 × term). You can take the money as a lump sum or spread it over 5, 10 or 15 years with the settlement option.
Death benefit
If the life assured dies during the term, the nominee receives:
- sum assured on death: the higher of 125% of the basic sum assured or 7 times the annualised premium, plus
- guaranteed additions accrued up to the date of death.
The payout is never less than 105% of premiums paid. With ₹10 lakh cover, death in year 10 of a 20-year policy would pay ₹12.5 lakh plus ₹4.5 lakh of additions credited so far. The calculator’s year-wise table shows each year’s figure.
Loan, surrender and riders
- Loan: available against the policy’s surrender value, subject to LIC’s conditions.
- Surrender and paid-up: if you stop paying after the qualifying period, the policy can be surrendered or continue as paid-up with a reduced sum assured. The 2024 rules raised early surrender values compared with plan 860, but exiting early still usually returns less than a full-term policy. Estimate it with our surrender value calculator.
- Riders: accidental death and disability, accident benefit, term assurance and premium waiver riders can be added for an extra premium.
Tax benefits
Premiums count for Section 123 of the Income-tax Act, 2025 (earlier Section 80C) deduction in the old tax regime, up to ₹1.5 lakh a year. Maturity and death proceeds are generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)), provided the yearly premium stays within 10% of the sum assured and, for policies from April 2023, total premiums on such policies stay within ₹5 lakh a year. Bima Jyoti’s yearly premium is roughly 6% to 9.5% of the sum assured, so it normally meets the 10% test.
Who was Bima Jyoti 760 for?
It suited people who:
- want a guaranteed, known maturity amount for a fixed goal such as a child’s education or a home down payment;
- prefer to finish paying five years before the money is needed;
- are comfortable with a return of roughly 6% to 7% a year in exchange for certainty.
It is not the cheapest way to buy life cover. If protection is your main need, pair a small savings policy with a term plan from our term plan calculator.
Since plan 760 is no longer sold, new buyers with these goals should look at New Bima Jyoti 890.
Bima Jyoti 760 vs 860 vs 890
| Bima Jyoti 860 | Bima Jyoti 760 | New Bima Jyoti 890 | |
|---|---|---|---|
| Sold | Feb 2021 to 2024 | 2024 relaunch to FY 2026-27 | From 10 Aug 2026 |
| Minimum sum assured | ₹1 lakh | ₹1.25 lakh | ₹1.25 lakh |
| Guaranteed additions | ₹50 per ₹1,000 SA | ₹50 per ₹1,000 SA | 6%+ of annualised premiums |
| Premium, 30 yrs, ₹10 lakh, 20-yr term | Similar to 760 | ₹61,740 | ₹83,400 |
Plans 860 and 760 are the same engine with different fine print. Plan 890 costs more per ₹1 lakh of cover, and its maturity is only a little higher: for a 30-year-old with ₹10 lakh over 20 years, about ₹21.8 lakh against a guaranteed ₹20 lakh under 760. That works out to a return of about 4.2% a year, against about 5.9% for 760.
How to use this calculator
- Enter age at entry.
- Pick the policy term; the paying term appears next to it.
- Enter the sum assured.
- Choose the premium mode.
- Read the yearly and instalment premium, total premium, guaranteed additions, maturity value and IRR. The table below the results shows premiums paid, additions earned and death benefit for every policy year. Figures are estimates; LIC’s quotation is final.
Frequently asked questions
What are the guaranteed additions in Bima Jyoti 760?
LIC adds ₹50 for every ₹1,000 of basic sum assured at the end of each policy year, for the full term, as long as premiums are paid. On ₹10 lakh that is ₹50,000 a year, or ₹10 lakh over a 20-year term. The additions are guaranteed and do not depend on LIC's bonus declarations.
What is the premium of Bima Jyoti 760 for ₹10 lakh?
For a 30-year-old, our calculator shows about ₹61,740 a year for a 20-year term (paid for 15 years) and about ₹82,320 a year for a 15-year term (paid for 10 years). No GST is added, as individual life policies are GST-exempt from 22 September 2025. LIC's quotation may differ slightly.
How much will I get at maturity in Bima Jyoti 760?
Maturity value is the basic sum assured plus all guaranteed additions: sum assured × (1 + 0.05 × term). ₹10 lakh for 20 years gives ₹20 lakh; ₹10 lakh for 15 years gives ₹17.5 lakh. You can take it as a lump sum or in instalments under the settlement option.
What is the difference between Bima Jyoti 760 and 860?
Plan 760 is the relaunch of Bima Jyoti 860. The benefit design is the same: 15 to 20-year terms, five fewer paying years, ₹50 per ₹1,000 guaranteed additions and 125% death cover. Plan 760 has a higher minimum sum assured (₹1.25 lakh instead of ₹1 lakh) and follows IRDAI's revised surrender value rules.
What is the death benefit in Bima Jyoti 760?
The nominee gets the sum assured on death plus guaranteed additions accrued till then. Sum assured on death is the higher of 125% of the basic sum assured or 7 times the annualised premium, and the total is at least 105% of premiums paid. For ₹10 lakh that is ₹12.5 lakh plus additions.
Who could buy LIC Bima Jyoti 760?
Until it was withdrawn in FY 2026-27, anyone from 30 days to 60 years old could buy it, provided age at maturity was between 18 and 75 (65 if bought through POSP-LI or CPSC-SPV). Parents often bought it for young children, because age hardly changes the premium. New buyers can now look at New Bima Jyoti 890.
Is LIC Bima Jyoti 760 still available?
No. LIC withdrew Bima Jyoti 760 for new sales in FY 2026-27, and it is on LIC's list of withdrawn plans. Its replacement is New Bima Jyoti 890, launched in August 2026 with premium-linked additions. Existing 760 policies continue as normal, with the same ₹50 per ₹1,000 guaranteed additions, maturity and death benefits.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.