LIC Bima Nivesh 2005 (Plan 171) was a single-premium endowment plan with a 5 or 10-year term and compounding guaranteed additions of ₹50 or ₹55 per ₹1,000 a year. By our calculator, ₹1 lakh sum assured for 10 years cost ₹97,600 once and matures at about ₹1,70,814, plus any loyalty addition. That is a return of roughly 5.76% a year.
Bima Nivesh 2005 Single Premium & Maturity Calculator
Your estimate
- Guaranteed additions₹55 per ₹1,000 a year, compounded
- ₹70,814
- Death benefitin the final year: sum assured + additions
- ₹1,70,814
- Approx. return (IRR)
- 5.76%
- Age at maturity
- 50 years
- Single premium₹97,60057%
- Net gain₹73,21443%
Guaranteed additions year by year
| Year | Addition this year | Guaranteed additions | Death benefit |
|---|---|---|---|
| 1 | ₹5,500 | ₹5,500 | ₹1,05,500 |
| 2 | ₹5,803 | ₹11,303 | ₹1,11,303 |
| 3 | ₹6,122 | ₹17,424 | ₹1,17,424 |
| 4 | ₹6,458 | ₹23,882 | ₹1,23,882 |
| 5 | ₹6,814 | ₹30,696 | ₹1,30,696 |
| 6 | ₹7,188 | ₹37,884 | ₹1,37,884 |
| 7 | ₹7,584 | ₹45,468 | ₹1,45,468 |
| 8 | ₹8,001 | ₹53,469 | ₹1,53,469 |
| 9 | ₹8,441 | ₹61,909 | ₹1,61,909 |
| 10 | ₹8,905 | ₹70,814 | ₹1,70,814 |
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 Nivesh 2005 Plan 171?
LIC Bima Nivesh 2005 (Table No. 171, UIN 512N229V01) was a single-premium, non-linked endowment plan. You paid the whole premium at the start, chose a term of 5 or 10 years, and LIC added a fixed, compounding guaranteed addition every year. At maturity you received the sum assured plus all additions, and a loyalty addition if LIC declared one.
The plan was launched on 21 March 2005 and, according to our source records, withdrawn on 1 January 2014. With a maximum term of 10 years, every policy should have reached maturity by now. This page helps you check what your policy should have paid, or what a pending claim is worth.
Bima Nivesh 2005 at a glance
| Feature | Details |
|---|---|
| Plan / table number | 171 |
| UIN | 512N229V01 |
| Plan type | Single-premium endowment with guaranteed additions |
| Policy term | 5 or 10 years |
| Entry age | 18 to 70 years |
| Maximum maturity age | 75 years |
| Sum assured | ₹25,000 to ₹50,00,000 |
| Single premium | ₹995 (5 years) or ₹976 (10 years) per ₹1,000 sum assured |
| Guaranteed addition | ₹50 (5 years) or ₹55 (10 years) per ₹1,000, compounding |
| Status | Withdrawn |
How the premium and maturity are calculated
Single premium. The premium is a flat rate per ₹1,000 sum assured and does not change with age: ₹995 for a 5-year policy and ₹976 for a 10-year policy. So ₹1 lakh of cover for 10 years cost ₹97,600.
Guaranteed additions. Each year the addition is calculated on the sum assured plus additions already attached. For ₹1 lakh over 10 years at ₹55 per ₹1,000:
- Year 1: ₹5,500
- Year 2: about ₹5,803 (on ₹1,05,500)
- …and so on, growing every year.
By year 10 the additions total about ₹70,814, so the maturity value is about ₹1,70,814. Compared with the premium of ₹97,600, that is a return of roughly 5.76% a year.
Shorter term example. A 55-year-old choosing ₹5 lakh for 5 years paid ₹4,97,500 once. The additions reach about ₹1,38,141 and the maturity value about ₹6,38,141, a return of roughly 5.11% a year.
Tip: the calculator’s “guaranteed” figure leaves the loyalty addition at zero. If your maturity letter shows a loyalty addition, enter its rate per ₹1,000 to match the amount you received.
Death benefit
If the life assured died during the term, the nominee received the sum assured plus guaranteed additions accrued up to the date of death. The year-wise table under the calculator shows this death benefit at the end of each year. If the optional term assurance rider was bought, its sum assured was paid on top.
Surrender value
The policy could be surrendered after it had been in force for at least one year. The guaranteed surrender value was 90% of the single premium, and LIC paid the special surrender value if it was higher. Surrender made little sense close to maturity, since the additions kept compounding.
Tax benefits
The single premium was eligible for deduction under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the year it was paid. Maturity and death proceeds were generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)), subject to the rules for the policy’s issue date.
How it compares with today’s single-premium plans
Bima Nivesh 2005 gave a guaranteed yield of about 5% to 6% a year. LIC’s current single-premium options work differently. Single Premium Endowment Plan 717 is a with-profit plan that relies on bonuses, while Nivesh Plus 749 is market-linked. If you are reinvesting a maturity amount, compare the expected return with our LIC maturity calculator before deciding.
How to use this calculator
- Enter the age at entry and choose the term.
- Enter the sum assured from your policy bond.
- Leave the loyalty addition at 0 for the guaranteed value, or enter the declared rate.
- Read the single premium, total additions, maturity amount and approximate return. Figures are estimates based on the plan’s published rates.
Frequently asked questions
What was LIC Bima Nivesh 2005?
It was a single-premium, non-linked endowment plan (Plan 171, UIN 512N229V01) launched on 21 March 2005. You paid once, chose a 5 or 10-year term, and received the sum assured plus compounding guaranteed additions at maturity, with life cover during the term.
How are guaranteed additions calculated in Bima Nivesh 2005?
Each year LIC added ₹50 (5-year term) or ₹55 (10-year term) per ₹1,000 on the sum assured plus the additions already attached, so they compound. On ₹1 lakh for 10 years, the first addition is ₹5,500 and the total reaches about ₹70,814.
What is the maturity value of Bima Nivesh 2005 for ₹5 lakh?
For a 5-year term, ₹5 lakh sum assured needs a single premium of ₹4,97,500. Guaranteed additions of about ₹1,38,141 take the maturity value to about ₹6,38,141, plus any loyalty addition. That works out to roughly 5.11% a year.
Is Bima Nivesh 2005 still available?
No. The source records show it was withdrawn on 1 January 2014. Because the longest term was 10 years, all policies should have matured by now. If a maturity claim is still pending, contact your LIC servicing branch.
What did the nominee get if the policyholder died?
The death benefit was the sum assured plus guaranteed additions accrued up to the date of death. If the optional term assurance rider was taken, its sum assured was paid in addition.
Was the maturity amount of Bima Nivesh 2005 tax-free?
The premium qualified under Section 123 (earlier 80C) in the year of payment. Maturity proceeds were generally exempt under Schedule II (earlier Section 10(10D)), subject to the sum assured and premium conditions that applied to the policy's issue date.
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.