LIC Bima Shree Plan 748 Calculator: Premium, Money Back Schedule & Maturity

What is LIC Bima Shree Plan 748?

LIC Bima Shree Plan 748 (UIN 512N316V03) is a money back policy designed for people who can commit to a large sum assured. It is non-linked (not market-based), with-profit (it earns a loyalty addition when LIC declares one) and limited premium (you pay for four years less than the term). The minimum cover is ₹10 lakh, which is why LIC positions it for high-net-worth customers.

It combines four things in one policy: life cover of at least 125% of the sum assured, two tax-free money backs before maturity, guaranteed additions during the paying term and a final lump sum. Plan 748 is the current version, replacing Bima Shree 948, which itself replaced the original Bima Shree 848.

Bima Shree 748 at a glance

Feature	Details
Plan number / UIN	748 / 512N316V03
Plan type	Non-linked, with-profit, limited premium money back
Policy term	14, 16, 18, 20, 24 or 28 years
Premium paying term	Policy term minus 4 years
Entry age	8 to 55 years (depends on term)
Maximum maturity age	69 years
Minimum sum assured	₹10,00,000; no upper limit
Guaranteed additions	₹50 per ₹1,000 (years 1–5), ₹55 per ₹1,000 (year 6 to end of paying term)
Loyalty addition	On maturity, or on death after 5 years, if declared
Premium modes	Yearly, half-yearly, quarterly, monthly (NACH)

Eligibility and money back schedule

Term	Pay for	Max entry age	Money backs	At maturity
14 years	10 years	55	30% at years 10 and 12	40% + GA + LA
16 years	12 years	53	35% at years 12 and 14	30% + GA + LA
18 years	14 years	51	40% at years 14 and 16	20% + GA + LA
20 years	16 years	49	45% at years 16 and 18	10% + GA + LA
24 years	20 years	45	45% at years 20 and 22	10% + GA + LA
28 years	24 years	41	45% at years 24 and 26	10% + GA + LA

GA = guaranteed additions, LA = loyalty addition. Percentages are of the basic sum assured.

All the money backs arrive in the last few years of the policy, after or near the end of the paying term. That suits a planned expense such as a child’s college fees or a business need, rather than regular income.

How the premium is calculated

The calculator follows the sample premiums in LIC’s sales brochure for this plan, which gives the yearly premium for ₹10 lakh at ages 20, 30 and 40 (and 50 for the 14 to 18-year terms) for every term; for example ₹92,071 at age 30 for a 16-year term. Our calculator reproduces all 21 published figures exactly and interpolates between those ages; ages below 20 or above the last published age are extended from the nearest trend, so treat them as estimates. It then applies the 2% yearly or 1% half-yearly mode rebate and LIC’s high sum assured rebate (₹0.40 per ₹1,000 from ₹20 lakh, ₹0.70 per ₹1,000 from ₹50 lakh), and shows the instalment for your mode. A shorter term means a higher yearly premium but fewer years of paying. There is no GST on top, as individual life insurance is GST-exempt from 22 September 2025.

Worked example 1: a 30-year-old takes ₹10 lakh for 16 years.

• Premium: ₹92,071 a year for 12 years (₹7,829 a month on NACH); total ₹11,04,852
• Money backs: ₹3,50,000 at the end of year 12 and again at year 14
• Guaranteed additions: 5 × ₹50,000 + 7 × ₹55,000 = ₹6,35,000
• Maturity with a ₹20 per ₹1,000 loyalty assumption: ₹3,00,000 + ₹6,35,000 + ₹20,000 = ₹9,55,000
• Total received: ₹16,55,000, roughly a 4.4% annual return

Worked example 2: a 40-year-old takes ₹25 lakh for 20 years. The premium is ₹1,84,955 a year for 16 years (₹29,59,280 in all), after the high sum assured rebate. Money backs of ₹11,25,000 each come at years 16 and 18, and maturity is about ₹24,37,500, for total benefits of ₹46,87,500.

Tip: the loyalty addition is not guaranteed. Set it to 0 in the calculator to see the floor. In example 1, the guaranteed-only total is ₹16,35,000, only ₹20,000 less, because most of Bima Shree’s value comes from the fixed additions.

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;
• guaranteed additions accrued so far;
• the loyalty addition, if death happens after five policy years.

Money backs already paid are not deducted, and the payout is never below 105% of premiums paid. For ₹10 lakh cover the base is ₹12.5 lakh. The year-wise table in the calculator shows the full amount for each year.

Loan, surrender and riders

• Surrender and paid-up: after the qualifying period the policy can be surrendered or made paid-up. The 2024 IRDAI rules improved early surrender values, but leaving early still costs you most of the additions. Estimate it with our surrender value calculator.
• Loan: available against the surrender value, subject to LIC’s terms. Useful for short-term needs without breaking the policy.
• Grace period: 30 days for yearly, half-yearly and quarterly modes, 15 days for monthly.
• Riders: accidental death and disability, accident benefit, term assurance and premium waiver riders can be added for an extra premium.

Tax benefits

Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the old tax regime (up to ₹1.5 lakh). Money backs, 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)) if the yearly premium stays within 10% of the sum assured. For policies issued after 1 April 2023, that exemption also depends on total premiums on such policies staying within ₹5 lakh a year, which matters for large Bima Shree policies.

Who should buy Bima Shree 748?

It fits buyers who:

• can commit roughly ₹45,000 to ₹1.1 lakh or more a year for 10 to 24 years;
• want guaranteed, dated payouts for a known expense late in the term;
• value a with-profit element but do not want market risk.

It is not suited to someone who needs high life cover cheaply, or who may need the money in the first five years. For pure protection use the term plan calculator; for smaller money back needs, compare with a general money back policy calculator.

Bima Shree 748 vs 948 vs 848

	Bima Shree 848	Bima Shree 948	Bima Shree 748
UIN	512N316V01	512N316V02	512N316V03
Sold	First version, until early 2020	1 Feb 2020 to 18 Nov 2024	Current
Death cover multiple	10× annualised premium	7× annualised premium	7× annualised premium
Premium, 30 yrs, ₹10 lakh, 16 yrs	₹91,336	₹89,509	₹92,071

The benefit schedule for the 14 to 20-year terms is the same across all three; Plan 748 adds 24 and 28-year terms. The differences are in pricing, the minimum death cover multiple and surrender rules.

How to use this calculator

1. Enter age at entry and pick the policy term; the maximum age adjusts to the term.
2. Enter the sum assured (from ₹10 lakh).
3. Choose the premium mode.
4. Keep or change the loyalty addition estimate.
5. Read the premium, money back amounts, maturity, total returns and IRR. The year-wise table shows premiums paid, payouts, additions and death benefit for every year. All figures are estimates; LIC’s quotation is final.