LIC Bima Shree 848 (UIN 512N316V01) is the original version of LIC's money back plan for high sum assured buyers, later replaced by Bima Shree 948 in February 2020. It pays two money backs late in the term, a maturity amount with guaranteed additions and a loyalty addition. A 30-year-old with ₹10 lakh for 16 years pays about ₹91,336 a year for 12 years.
Bima Shree 848 Premium & Money Back Calculator
Your estimate
money backs + maturity
- Premium per instalment
- ₹91,336
- Premium paying term
- 12 years
- Total premium paid
- ₹10,96,032
- Survival benefits (money back)years 12 & 14, each time
- ₹3,50,000
- Estimated maturity amount30% of sum assured + GA + loyalty
- ₹9,55,000
- Guaranteed additions
- ₹6,35,000
- Loyalty addition (estimated)
- ₹20,000
- Sum assured on deathplus accrued additions; money backs already paid are not deducted
- ₹12,50,000
- Approx. return (IRR)
- 4.47%
- Age at maturity
- 46 years
- Total premium paid₹10,96,03266%
- Net gain₹5,58,96834%
Year-wise money back, additions and death cover
| Policy year | Your age | Premium paid till then | Payout that year | Guaranteed additions accrued | Death benefit in that year |
|---|---|---|---|---|---|
| 1 | 31 years | ₹91,336 | ₹0 | ₹50,000 | ₹12,50,000 |
| 2 | 32 years | ₹1,82,672 | ₹0 | ₹1,00,000 | ₹13,00,000 |
| 3 | 33 years | ₹2,74,008 | ₹0 | ₹1,50,000 | ₹13,50,000 |
| 4 | 34 years | ₹3,65,344 | ₹0 | ₹2,00,000 | ₹14,00,000 |
| 5 | 35 years | ₹4,56,680 | ₹0 | ₹2,50,000 | ₹14,50,000 |
| 6 | 36 years | ₹5,48,016 | ₹0 | ₹3,05,000 | ₹15,20,000 |
| 7 | 37 years | ₹6,39,352 | ₹0 | ₹3,60,000 | ₹15,75,000 |
| 8 | 38 years | ₹7,30,688 | ₹0 | ₹4,15,000 | ₹16,30,000 |
| 9 | 39 years | ₹8,22,024 | ₹0 | ₹4,70,000 | ₹16,85,000 |
| 10 | 40 years | ₹9,13,360 | ₹0 | ₹5,25,000 | ₹17,40,000 |
| 11 | 41 years | ₹10,04,696 | ₹0 | ₹5,80,000 | ₹17,95,000 |
| 12 | 42 years | ₹10,96,032 | ₹3,50,000 | ₹6,35,000 | ₹18,50,000 |
| 13 | 43 years | ₹10,96,032 | ₹0 | ₹6,35,000 | ₹19,05,000 |
| 14 | 44 years | ₹10,96,032 | ₹3,50,000 | ₹6,35,000 | ₹19,05,000 |
| 15 | 45 years | ₹10,96,032 | ₹0 | ₹6,35,000 | ₹19,05,000 |
| 16 | 46 years | ₹10,96,032 | ₹9,55,000 | ₹6,35,000 | ₹19,05,000 |
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 Shree Plan 848?
LIC Bima Shree Plan 848 (UIN 512N316V01) is the original version of LIC’s money back plan for buyers who want a large cover, starting at ₹10 lakh. It is a non-linked, with-profit, limited premium policy: you pay for four years less than the term and receive two money backs in the final years, a maturity amount with guaranteed additions and a loyalty addition if LIC declares one.
Plan 848 was replaced by Bima Shree 948 on 1 February 2020, and the current version is Bima Shree 748. This page helps existing 848 policyholders check premiums and payouts.
Bima Shree 848 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 848 / 512N316V01 |
| Status | Withdrawn; replaced by 948, now 748 |
| Policy term | 14, 16, 18 or 20 years |
| Premium paying term | Policy term minus 4 years |
| Entry age | 8 to 55 (14 yrs), 51 (16 yrs), 48 (18 yrs), 45 (20 yrs) |
| Minimum sum assured | ₹10,00,000, in multiples of ₹1,00,000 |
| Guaranteed additions | ₹50 per ₹1,000 (years 1–5), ₹55 (year 6 to end of paying term) |
| Death cover | Higher of 125% of sum assured or 10× annualised premium |
| Rebates | 2% yearly, 1% half-yearly; ₹0.30 to ₹0.50 per ₹1,000 from ₹20 lakh |
Money back schedule
| Term | Money backs | At maturity |
|---|---|---|
| 14 years | 30% at years 10 and 12 | 40% + additions |
| 16 years | 35% at years 12 and 14 | 30% + additions |
| 18 years | 40% at years 14 and 16 | 20% + additions |
| 20 years | 45% at years 16 and 18 | 10% + additions |
Premium and benefit examples
Age 30, ₹10 lakh, 16 years: premium about ₹91,336 a year (₹7,767 a month) for 12 years, ₹10,96,032 in total. Money backs of ₹3,50,000 at years 12 and 14 and maturity of about ₹9,55,000 give total benefits of ₹16,55,000, a return near 4.5% a year.
Age 35, ₹20 lakh, 20 years: premium about ₹1,43,068 a year for 16 years. Money backs of ₹9,00,000 at years 16 and 18 and maturity of about ₹19,50,000, for ₹37,50,000 in total. The death cover base is ₹25 lakh.
Old receipts show GST on top (4.5% in the first year and 2.25% after), which applied until 21 September 2025. Individual life policies have been GST-exempt since 22 September 2025.
Tip: the loyalty addition in the calculator is an estimate. Set it to 0 to see the guaranteed floor; the difference is small because the fixed additions do most of the work.
Death benefit
If the life assured dies during the term, the nominee gets the sum assured on death (the higher of 125% of sum assured or 10 times the annualised premium), guaranteed additions accrued so far and, after five years, the loyalty addition. Money backs already paid are not deducted, and the claim is never below 105% of premiums paid.
Loan, surrender and tax
A policy loan is available against the surrender value once the policy qualifies. If you stop paying after the minimum period, the policy becomes paid-up with reduced benefits. Most of the value arrives late, so check the numbers with our surrender value calculator before exiting. Premiums count under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the old regime, and payouts are generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) when the premium is within 10% of the sum assured.
How 848 differs from 948 and 748
For the 14, 16, 18 and 20-year terms, all three versions share the same money back schedule and guaranteed additions; Plan 748 also adds 24 and 28-year terms. Plan 848 has the richest minimum death cover (10× annualised premium, against 7× in 948 and 748). Its premium rates sit a little above 948’s, while 748 is now the costliest of the three. For a 30-year-old with ₹10 lakh for 16 years our calculators show ₹91,336 (848), ₹89,509 (948) and ₹92,071 (748).
How to use this calculator
- Enter the age at entry, policy term and sum assured from your bond.
- Pick the premium mode.
- Keep or change the loyalty addition estimate.
- Read the premium, money backs, maturity, total returns and the year-wise table. Figures are estimates; LIC’s records are final.
Frequently asked questions
Can I buy LIC Bima Shree 848 now?
No. Bima Shree 848 was the first version of the plan and was replaced by Bima Shree 948 on 1 February 2020, which in turn gave way to Bima Shree 748 in 2024. Existing 848 policies continue with their original benefits until maturity.
When are the money backs paid in Bima Shree 848?
For a 14-year term, 30% of sum assured at the end of years 10 and 12; 16 years: 35% at years 12 and 14; 18 years: 40% at years 14 and 16; 20 years: 45% at years 16 and 18. The remaining 40%, 30%, 20% or 10% is paid at maturity with additions.
What is the death benefit in Bima Shree 848?
The nominee receives the higher of 125% of the basic sum assured or 10 times the annualised premium, plus guaranteed additions accrued and, after five years, the loyalty addition. Money backs already paid are not deducted. The 10× multiple is higher than the 7× used in later versions.
How are guaranteed additions calculated in Bima Shree 848?
₹50 per ₹1,000 sum assured for each of the first five policy years and ₹55 per ₹1,000 from year six until the premium paying term ends. On ₹10 lakh with a 16-year term, that totals ₹6.35 lakh, paid at maturity or on earlier death.
How much will a ₹20 lakh Bima Shree 848 policy pay?
For a 35-year-old with a 20-year term, our calculator shows ₹9 lakh at years 16 and 18 and about ₹19.5 lakh at maturity (with a ₹20 per ₹1,000 loyalty assumption), a total of ₹37.5 lakh against about ₹22.89 lakh 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.