LIC Bima Platinum Plan 770 Calculator: Premium, Income Benefits, Guaranteed Additions and Maturity

What is LIC Bima Platinum Plan 770?

LIC Bima Platinum (Plan 770, UIN 512N397V01) is a savings plan with life cover introduced by LIC in September 2026, on the occasion of its 70th anniversary. It is non-linked (not tied to the stock market) and non-participating (no bonus). Every benefit is guaranteed and written into the policy.

It works in two phases. During the premium paying term (7, 10, 12, 15 or 18 years) you pay premiums and LIC credits guaranteed additions. After that, the pay-out period starts: LIC pays a regular income of 10% of the sum assured every year, a one-time booster of 70% five years after the premium term, and at the end of the policy term the sum assured plus all guaranteed additions.

Bima Platinum 770 at a glance

Feature	Details
Plan number / UIN	770 / 512N397V01
Plan type	Non-linked, non-participating, limited premium savings plan
Premium paying term	7, 10, 12, 15 or 18 years
Policy term	Premium term + 10 years, up to 40 years (max maturity age 75)
Guaranteed additions	₹70 per ₹1,000 of annualised premiums paid, each year of the premium term
Regular income	10% of sum assured a year, from end of premium term to the year before maturity
Booster income	70% of sum assured at the (premium term + 5)th anniversary
Maturity benefit	Sum assured + guaranteed additions
Death benefit	Higher of 11× annualised premium or sum assured, plus additions
Minimum sum assured	₹3,00,000, multiples of ₹10,000
Premium modes	Yearly, half-yearly, quarterly, monthly (NACH)

Eligibility

Premium term	Entry age	Policy term
7 years	11 to 55 years	17 to 40 years
10 years	8 to 55 years	20 to 40 years
12 years	6 to 53 years	22 to 40 years
15 years	3 to 50 years	25 to 40 years
18 years	30 days to 47 years	28 to 40 years

Age at maturity must be between 28 and 75 (65 through POSP-LI or CPSC-SPV, where the policy term is capped at 20 years).

How the premium is calculated

The calculator follows the sample illustrative premiums in LIC’s brochure, published for ₹3 lakh sum assured and a 30-year policy at ages 15, 25, 35 and 45 for every premium term. For example, LIC shows ₹57,015 a year for age 35 with a 10-year premium term. The calculator scales these to your sum assured and interpolates between ages. It reproduces all 20 sample points and LIC’s own benefit illustration exactly (₹1,46,650 a year for age 35, ₹10 lakh, 12-year premium term, 25-year policy).

LIC publishes premiums only for 30-year and (in the illustration) 25-year policies, so other policy terms are an estimate: the calculator applies the small difference between those two, which moves the premium by well under 1%. There is no premium rebate for high cover or yearly mode; those incentives raise the guaranteed addition rate. Other modes use LIC’s factors (0.509 half-yearly, 0.2568 quarterly, 0.0861 monthly). No GST is added, as individual life insurance premiums are exempt from 22 September 2025.

Worked example. A 30-year-old chooses ₹10 lakh sum assured, a 10-year premium term and a 30-year policy:

Item	Amount
Yearly premium	₹1,87,150 (monthly ₹16,114)
Total premiums over 10 years	₹18,71,500
Guaranteed addition rate	₹70 + ₹9 high-cover incentive = ₹79 per ₹1,000
Regular income	₹1,00,000 a year, 20 payments (years 10 to 29)
Booster income	₹7,00,000 at the end of year 15
Maturity at year 30	₹18,13,167 (₹10 lakh + ₹8,13,167 additions)
Total guaranteed benefits	₹45,13,167
Return	about 5.2% a year

Bought online, the addition rate rises to ₹109 per ₹1,000 and maturity to ₹21,21,964.

Premium chart for ₹10 lakh (30-year policy)

Age	7-yr PPT	10-yr PPT	12-yr PPT	15-yr PPT	18-yr PPT
15	₹2,72,700	₹1,82,450	₹1,43,400	₹1,07,150	₹83,300
25	₹2,77,150	₹1,84,250	₹1,44,300	₹1,07,400	₹83,350
35	₹2,91,650	₹1,90,050	₹1,47,200	₹1,08,150	₹83,350
45	₹3,34,550	₹2,06,750	₹1,55,900	₹1,11,550	₹84,750

Age changes the premium very little, because most of it funds guaranteed payouts rather than life cover.

Tip: the premium is high compared with the sum assured because the plan pays out far more than the sum assured. Judge it by total benefits and return (about 5% a year), not by the cover.

Guaranteed additions

Each year of the premium term, LIC adds ₹70 (plus incentives) per ₹1,000 of the total annualised premiums paid up to that year. In LIC’s illustration the first year’s addition on a ₹1,46,650 premium is ₹11,732, and after 12 years the additions total ₹9,15,096. No additions accrue after the premium term. Incentives add ₹3 to ₹15 per ₹1,000 for a sum assured of ₹5 lakh or more, ₹20 to ₹30 for online purchase and ₹1 to ₹2 for existing policyholders.

Maturity and income benefits

The regular income starts at the end of the premium term and is paid every year while the life assured survives, until the year before maturity. The booster comes once, at the (premium term + 5)th anniversary. Both can be deferred and accumulated at an interest rate LIC fixes each year. At maturity LIC pays the basic sum assured plus all guaranteed additions. To compare maturity amounts across LIC plans, try our LIC maturity calculator.

Death benefit

If the life assured dies during the policy term, the nominee receives the sum assured on death plus guaranteed additions accrued. Sum assured on death is the higher of 11 times the annualised premium or the basic sum assured, and the payout is never below 105% of premiums paid or the surrender value. In the worked example that is ₹20,58,650 plus additions. For a child under 8, risk starts after two years or at age 8, whichever is earlier; before that, premiums are refunded.

Loan, surrender and tax

• Surrender: allowed after one full year’s premium; the guaranteed surrender value starts after two years’ premiums, less any income already paid. Check the likely payout with our LIC surrender value calculator.
• Loan: up to 50% of the surrender value, rising to 75% after two years’ premiums (lower for paid-up policies and in the pay-out period).
• Riders: accidental death and disability, accident benefit, new term assurance, premium waiver and critical illness riders.

Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the old tax regime, and maturity and death benefits 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 stays within the permitted share of the sum assured and the ₹5 lakh aggregate premium limit for policies issued from April 2023. Because Plan 770’s premium is large relative to its sum assured, check the 10% rule for your policy.

Who might consider Bima Platinum 770?

• People who want guaranteed income after a short paying period, for example from their 40s or 50s.
• Those who prefer to finish paying early, in 7 to 18 years.
• Savers comparing it with New Bima Jyoti Plan 890 (lump sum only) or the lifetime-income Jeevan Utsav Plan 771.

It is less suitable if you need high life cover at low cost (choose a term plan) or long-term growth that comfortably beats inflation.

How to use this calculator

1. Enter your age.
2. Select the premium paying term and a policy term from the allowed range.
3. Enter the sum assured and premium mode.
4. Tick online or existing policyholder if they apply.
5. Read the premium, total paid, regular income, booster, maturity, total benefits and return, plus the year-by-year table. Results at 30-year terms match LIC’s brochure; other terms are close estimates, so confirm with LIC before you buy.