LIC Bima Jyoti 860 is a non-par, limited premium savings plan launched on 22 February 2021 and later replaced by Bima Jyoti 760. It adds a guaranteed ₹50 per ₹1,000 sum assured every year. A 30-year-old with ₹10 lakh cover and a 20-year term pays roughly ₹61,740 a year for 15 years and receives a guaranteed ₹20 lakh at maturity.
Bima Jyoti 860 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 860?
LIC Bima Jyoti Plan 860 is a guaranteed savings policy with life cover that LIC launched on 22 February 2021. It is non-linked, non-participating and limited premium: you pay premiums for five years less than the policy term, and LIC adds a fixed ₹50 for every ₹1,000 of sum assured at the end of each policy year.
The plan was withdrawn from sale in 2024 and relaunched as Bima Jyoti 760 with slightly different fine print. This page is mainly for existing 860 policyholders who want to check what their policy will pay.
Bima Jyoti 860 at a glance
| Feature | Details |
|---|---|
| Plan number | 860 |
| Launched | 22 February 2021 |
| Status | Withdrawn; replaced by plan 760 |
| Policy term | 15 to 20 years |
| Premium paying term | Policy term minus 5 years |
| Entry age | 90 days to 60 years |
| Maturity age | 18 to 75 years |
| Minimum sum assured | ₹1,00,000, no upper limit |
| Guaranteed additions | ₹50 per ₹1,000 sum assured every year |
| Mode rebate | 2% yearly, 1% half-yearly |
Premium and maturity example
Because the additions are fixed, the maturity value can be worked out exactly: sum assured × (1 + 0.05 × term). The premium depends mainly on the term and only a little on age. The calculator above uses indicative Bima Jyoti rates, so your bond’s premium may differ slightly.
For a 30-year-old with ₹10 lakh sum assured:
| 15-year term | 20-year term | |
|---|---|---|
| Yearly premium | ₹82,320 for 10 years | ₹61,740 for 15 years |
| Total premium | ₹8,23,200 | ₹9,26,100 |
| Maturity value | ₹17,50,000 | ₹20,00,000 |
| Approx. return (IRR) | 7.24% | 5.86% |
Premium receipts from before 22 September 2025 will show GST on top: 4.5% in the first year and 2.25% after that. Since that date, individual life policies are GST-exempt, so the base premium is all you pay.
Tip: if you hold a 15 or 16-year policy bought in 2021, your paying term ends around 2031 or 2032. From then on the additions keep building without further payments, so avoid surrendering in the final years.
Death benefit
If the life assured dies during the term, the nominee gets the sum assured on death (the higher of 125% of the basic sum assured or 7 times the annualised premium) plus all guaranteed additions accrued so far. It is never below 105% of premiums paid. On a ₹10 lakh, 20-year policy, a claim in year 10 would be ₹12.5 lakh plus ₹4.5 lakh of additions. The calculator’s year-wise table shows the figure for every year.
Loan, paid-up and surrender
- Loan: available after two full years’ premiums, against the surrender value.
- Paid-up: stop paying after two years and the policy continues with a reduced sum assured, keeping additions already credited.
- Revival: a lapsed policy can be revived within five years of the first unpaid premium.
- Surrender: possible, but early surrender usually returns less than the premiums paid. Check the figure with our surrender value calculator before deciding.
Tax benefits
Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the old tax regime. Maturity and death proceeds are generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) when the yearly premium is within 10% of the sum assured, which Bima Jyoti premiums normally meet.
Bima Jyoti 860 vs 760 vs 890
Plan 760 kept the same ₹50 per ₹1,000 additions and 15 to 20-year terms, but raised the minimum sum assured to ₹1.25 lakh and adopted the 2024 surrender rules. New Bima Jyoti 890, launched in August 2026, changed the design: its additions are a percentage of the premium, so it costs more per ₹1 lakh of cover (₹83,400 a year against ₹61,740 for 860 at age 30 with ₹10 lakh over 20 years), while its maturity is only slightly higher, about ₹21.8 lakh against ₹20 lakh. If you already hold 860, there is no need to switch; the guaranteed additions on your policy stay as they are.
How to use this calculator
- Enter the age at entry shown on your policy bond.
- Choose the policy term and enter the sum assured.
- Pick the premium mode you pay in.
- Read the premium, total paid, guaranteed additions, maturity value and IRR, then scroll through the year-wise table for the death benefit in each year. Figures are estimates; your policy bond and LIC’s records are final.
Frequently asked questions
Can I still buy LIC Bima Jyoti 860?
No. Plan 860 is closed to new buyers and was replaced by Bima Jyoti 760 in LIC's 2024 product revamp. Existing 860 policies are not affected and continue with the same guaranteed additions until maturity. Plan 760 has since been withdrawn too, so new buyers can look at the newer New Bima Jyoti 890.
How much will my Bima Jyoti 860 policy pay at maturity?
Maturity value is the basic sum assured plus ₹50 per ₹1,000 for every policy year. For ₹5 lakh over 15 years that is ₹5 lakh + ₹3.75 lakh = ₹8.75 lakh. For ₹10 lakh over 20 years it is ₹20 lakh. The amount is guaranteed if all premiums are paid.
Is there any bonus in Bima Jyoti 860?
No. Bima Jyoti 860 is a non-participating plan, so LIC does not declare bonuses on it. Instead you get fixed guaranteed additions of ₹50 per ₹1,000 sum assured each year, which are written into the policy and do not change.
What happens if I stop paying Bima Jyoti 860 premiums?
If at least two full years' premiums are paid, the policy becomes paid-up with a reduced sum assured and keeps the additions already earned. You can revive a lapsed policy within five years of the first unpaid premium by paying arrears with interest. With less than two years paid, the policy lapses without value.
What is the death benefit in Bima Jyoti 860?
The nominee receives the higher of 125% of the basic sum assured or 7 times the annualised premium, plus guaranteed additions accrued to the date of death. The payout is never below 105% of premiums paid. For ₹10 lakh cover that means ₹12.5 lakh plus additions.
Can I take a loan on Bima Jyoti 860?
Yes. A policy loan is available after two full years' premiums, as a percentage of the surrender value (typically up to 90% of it for an in-force policy). Interest is charged, and any unpaid loan is deducted from the maturity or claim amount.
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.