LIC Bima Lakshmi 881 is a women-only, non-participating money back plan launched on 15 October 2025. The term is fixed at 25 years, premiums run for 7 to 15 years, and guaranteed additions accrue every year at 7% of the total premium paid so far. For a 30-year-old woman with ₹10 lakh cover, a 10-year paying term and Option A, our calculator estimates ₹1,69,055 a year, a 50% money back in year 10 and about ₹35.6 lakh at maturity.
Bima Lakshmi 881 Premium & Maturity Calculator
Your estimate
sum assured + guaranteed additions
- Premium per instalment
- ₹1,69,055
- Total premium paid
- ₹16,90,550
- Survival benefits (money back)total money back during the term
- ₹5,00,000
- Guaranteed additions7.40% of tabular premium paid, every year
- ₹25,64,564
- Total returns
- ₹40,64,564
- Sum assured on deathplus accrued additions
- ₹16,90,550
- Age at maturity
- 55 years
- Total premium paid₹16,90,55042%
- Net gain₹23,74,01458%
Money back and maturity schedule
| Policy year | Age at entry | Payout | You get |
|---|---|---|---|
| 10 | 40 | 50% | ₹5,00,000 |
| 25 | 55 | 100% + GA | ₹35,64,564 |
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 Lakshmi Plan 881?
LIC Bima Lakshmi Plan 881 (UIN 512N389V01) is a savings-and-protection plan built only for women. It was launched on 15 October 2025 and is currently open for sale. It is a non-linked, non-participating, limited premium money back plan:
- Non-linked: no stock market exposure.
- Non-participating: no bonus; every benefit is guaranteed at the start.
- Money back: part of the sum assured comes back to you during the policy, before maturity.
The policy runs for a fixed 25 years. You pay premiums for a shorter period of your choice, 7 to 15 years. Along the way the policy earns guaranteed additions, and you choose one of three survival benefit patterns (A, B or C).
Bima Lakshmi 881 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 881 / 512N389V01 |
| Plan type | Non-linked, non-par, limited premium money back (women only) |
| Launch date | 15 October 2025 |
| Policy term | 25 years (fixed) |
| Premium paying term | 7 to 15 years |
| Entry age | 18 to 50 years |
| Maximum maturity age | 75 years |
| Minimum sum assured | ₹2,00,000, multiples of ₹10,000 |
| Guaranteed additions | 7% of the total tabular premium paid so far, every policy year (higher for ₹5 lakh+ cover, online or existing policyholders) |
| Survival benefit | Option A, B or C |
| Rider | Optional female critical illness rider |
| Loan | After 1 full year’s premium |
Eligibility
| Condition | Limit |
|---|---|
| Who can be insured | Women only |
| Entry age | 18 to 50 years |
| Policy term | 25 years |
| Premium paying term | 7 to 15 years |
| Maturity age | Up to 75 years |
| Basic sum assured | ₹2 lakh minimum, no upper limit (subject to underwriting) |
How the premium is calculated
The premium is set per ₹1,000 of sum assured. It depends on the paying term and the survival benefit option, and rises slightly with age. The calculator follows the sample premiums in LIC’s sales brochure, which are for a 35-year-old: for example, ₹2 lakh cover with a 10-year paying term under Option A costs ₹34,480 a year. The brochure lists age 35 only, so premiums at other ages are our estimate. There is no rebate for paying yearly; monthly, quarterly and half-yearly instalments are a fixed fraction of the yearly premium. There is no GST to add, because individual life insurance premiums have been GST-exempt since 22 September 2025.
Worked example 1: a 30-year-old woman chooses ₹10 lakh cover, a 10-year paying term and Option A.
- Yearly premium: ₹1,69,055
- Total paid over 10 years: ₹16,90,550
- Money back: ₹5,00,000 at the end of year 10
- Guaranteed additions: 7.4% (7% plus 0.4% for ₹10 lakh cover) of the premiums paid so far, every year for 25 years: ₹25,64,564
- Maturity at age 55: ₹35,64,564
- Everything received: ₹40,64,564
Worked example 2: a 35-year-old woman prefers to finish paying in 7 years and picks Option C with ₹10 lakh cover. The yearly premium is ₹2,72,350, ₹19,06,450 in total. She receives ₹1.5 lakh at the end of years 4, 8, 12, 16, 20 and 24 (₹9 lakh in all). Maturity at 60 is about ₹40,82,730.
Tip: a shorter paying term costs more each year, but in our runs it also returned the most. At age 30 with ₹10 lakh cover (Option A), a 7-year term means ₹16,41,913 of premiums for ₹41,54,973 back, against ₹16,90,550 for ₹40,64,564 with a 10-year term. Compare 7, 10 and 15 years in the calculator before you decide.
Survival benefit options
| Option | What you receive | Total (₹10 lakh cover, 10-year PPT) |
|---|---|---|
| A | 50% of sum assured at the end of the paying term | ₹5,00,000 |
| B | 7.5% of sum assured every second year (years 2, 4 … 24) | ₹9,00,000 |
| C | 15% of sum assured every fourth year (years 4, 8 … 24) | ₹9,00,000 |
Option A suits a single big goal, such as a child’s higher education. Option B spreads a larger total over the whole term, starting from year 2, like a steady top-up income. Option C pays the same total in six bigger instalments. Options B and C carry a higher premium than A (₹2,20,340 and ₹2,11,760 a year against ₹1,69,055 in example 1), but they also earn larger guaranteed additions.
Maturity benefit
If the policyholder survives the full 25 years, she receives the basic sum assured plus all guaranteed additions. Money back instalments already paid are not deducted from the maturity amount. The additions are credited at the end of every policy year, at 7% (plus any incentives) of the total tabular premium paid so far, while the policy is in force. A paid-up policy earns a proportionately smaller amount.
Death benefit
If the policyholder dies during the term, the nominee receives:
- Sum assured on death, the higher of the basic sum assured or 10 times the tabular annual premium, plus
- guaranteed additions accrued until then.
The payout is never less than 105% of the premiums paid.
Other benefits
- Auto cover: once three full years of premium are paid, life cover continues for a limited period even if a premium is missed.
- Deferring money back: you can leave a survival benefit with LIC and take it later, with interest.
- Loan: available after one full year’s premium, within the surrender value.
- Surrender: allowed after one full year’s premium; the guaranteed surrender value applies after two full years. Use our LIC surrender value calculator to see what an early exit could return.
- Female critical illness rider: optional, for an extra premium.
Tax benefits
Premiums qualify for deduction under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old tax regime). Money back, maturity and death proceeds are generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)), subject to its premium-to-sum-assured conditions.
Who should buy Bima Lakshmi 881?
It suits women who:
- want guaranteed money at fixed points, for example for a child’s schooling or a home down payment;
- earn now and prefer to finish paying within 7 to 15 years;
- want life cover plus the option of a women-specific critical illness rider.
It is less suited to anyone seeking high life cover at low cost or returns that can beat inflation over 25 years. A term plan plus separate investments may serve those goals better.
Bima Lakshmi vs other LIC money back plans
LIC’s New Money Back Plan 720 is open to everyone and pays bonuses, so the final amount is not fixed in advance. Bima Lakshmi trades the bonus for certainty, a flexible 7 to 15-year paying term and a women-only rider. If a lifelong income interests you more than lump sums, compare it with Jeevan Utsav 771.
How to use this calculator
- Enter the age (18 to 50).
- Pick the premium paying term and sum assured.
- Choose the mode and the survival benefit option.
- Read the premium, money back, additions, maturity and the payout schedule.
The calculator reproduces the age-35 sample premiums in LIC’s brochure; figures for other ages are estimates. LIC’s exact premium depends on its rate table, underwriting and any rider you add, so confirm the final quote before you pay.
Frequently asked questions
Who can buy LIC Bima Lakshmi Plan 881?
Only women can be the life assured. The entry age is 18 to 50 years, the policy term is fixed at 25 years and the maximum maturity age is 75. The minimum basic sum assured is ₹2 lakh, in multiples of ₹10,000, with no upper limit subject to underwriting.
What is the difference between options A, B and C?
Option A pays one lump sum of 50% of the sum assured at the end of the premium paying term. Option B pays 7.5% every second year, from year 2 to year 24. Option C pays 15% every fourth year, from year 4 to year 24. B and C cost more, so they also earn larger guaranteed additions.
How is the maturity amount of Bima Lakshmi calculated?
Maturity is the basic sum assured plus accrued guaranteed additions. Additions accrue every policy year at 7% of the total tabular premium paid so far, plus incentives for larger cover. For ₹10 lakh cover at age 30 with a 10-year paying term and Option A, our estimate is ₹10 lakh plus ₹25,64,564 in additions, or ₹35,64,564.
What is the death benefit in Bima Lakshmi 881?
The nominee receives the sum assured on death, which is the higher of the basic sum assured or 10 times the tabular annual premium, plus guaranteed additions accrued. It is never less than 105% of premiums paid. Money back instalments already paid are not deducted.
Does Bima Lakshmi 881 give a bonus?
No. It is a non-participating plan, so it does not share in LIC's profits. Instead, every benefit is fixed: the money back, the guaranteed additions and the maturity amount are known on day one.
Is there a critical illness cover for women?
Yes, an optional female critical illness rider is available for an extra premium. It covers specified illnesses such as breast and uterine cancer. Our calculator does not include rider premiums.
Can I take a loan against Bima Lakshmi?
Yes. A loan is available after at least one full year's premium has been paid, within the policy's surrender value. The policy acquires a surrender value after two full years of premiums.
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.