LIC Limited Premium Endowment 830 is a with-profit endowment plan sold from 9 December 2014 until its withdrawal on 1 February 2020. Premiums were paid for only 8 or 9 years on a 12, 16 or 21-year policy. By our calculator, a 30-year-old with ₹5 lakh cover, a 16-year term and 8-year PPT pays about ₹47,561 a year and may receive about ₹8.2 lakh at maturity at a ₹40 bonus rate.
Limited Premium Endowment 830 Premium & Maturity Calculator
Your estimate
plus final additional bonus, if declared
- Premium per instalment
- ₹47,561
- Total premium paid
- ₹3,80,488
- Total bonus (estimated)
- ₹3,20,000
- Sum assured on deathplus bonuses accrued
- ₹6,25,000
- Age at maturity
- 46 years
- Total premium paid₹3,80,48846%
- Net gain₹4,39,51254%
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 Limited Premium Endowment Plan 830?
LIC’s Limited Premium Endowment Plan (Table 830, UIN 512N293V01) is a non-linked, with-profit endowment plan. You pay premiums for a short period, 8 or 9 years, while life cover and bonuses continue for the full policy term of 12, 16 or 21 years. At maturity you receive the sum assured plus bonuses.
It was launched on 9 December 2014 and withdrawn on 1 February 2020. If you hold a policy, it runs as normal. New buyers wanting the same “pay for a few years” idea can look at Jeevan Labh 736.
Plan 830 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 830 / 512N293V01 |
| Plan type | Non-linked, with-profit, limited premium endowment |
| Policy term | 12, 16 or 21 years |
| Premium paying term | 8 or 9 years (as per our source) |
| Entry age | 18 to 62 years |
| Maximum maturity age | 75 years |
| Minimum sum assured | ₹3,00,000 (no upper limit) |
| Premium modes | Yearly, half-yearly, quarterly, monthly (ECS) |
| Riders | Accidental Death & Disability Benefit, Term Assurance |
| Status | Withdrawn on 1 February 2020 |
How the premium is worked out
LIC set a tabular rate per ₹1,000 sum assured for each combination of term, premium paying term and age. Two rebates then reduced it:
- Mode rebate: 2% for yearly and 1% for half-yearly payment.
- High sum assured rebate: 0.50% for ₹5–9.99 lakh and 0.75% for ₹10 lakh and more.
Example 1 (calculator output): age 30, ₹5 lakh, 16-year term, 8-year PPT, yearly.
- Yearly premium: ₹47,561 for 8 years (₹3,80,488 in total)
- Bonus at ₹40 per ₹1,000 a year: ₹3,20,000
- Estimated maturity at 46: ₹8,20,000
- Sum assured on death: ₹6,25,000 plus bonuses
Example 2: age 35, ₹10 lakh, 21-year term, 9-year PPT. Premium is ₹72,608 a year (₹6,53,472 in all) and the estimated maturity at 56 is ₹18,40,000 at the same bonus rate.
No GST is payable now. Up to 21 September 2025, the first-year premium carried 4.5% GST and later premiums 2.25%.
Tip: bonus rates differ by term and change every year. If you have your latest LIC bonus letter, type that rate into the calculator for a closer estimate. The LIC bonus calculator explains how bonuses add up.
Maturity benefit
Maturity amount = basic sum assured + simple reversionary bonuses + final additional bonus (if declared). Bonuses are declared per ₹1,000 sum assured each year and attach to the policy for good once declared. Our default of ₹40 is a middle estimate; longer terms have tended to get higher rates.
Death benefit
If death occurs during the term with the policy in force, the nominee receives the sum assured on death plus vested bonuses and any final additional bonus. The sum assured on death is the highest of:
- 125% of the basic sum assured,
- 10 times the annual premium, or
- 105% of all premiums paid till death.
Because premiums stop after 8 or 9 years, the cover continues free for the rest of the term.
Loan, surrender and revival
- Loan: available after two full years’ premiums.
- Surrender: allowed after two full years. LIC pays the higher of the guaranteed surrender value (a share of premiums paid that rises with duration, plus the surrender value of bonuses) and the special surrender value.
- Revival: a lapsed policy can be revived within the allowed period by paying arrears with interest.
Check an exit value with the surrender value calculator before you stop paying.
Tax benefits
Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime). Because the sum assured on death is at least 10 times the premium, the maturity amount is generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)).
Plan 830 vs Jeevan Labh
Both plans let you pay for fewer years than the policy runs. Plan 830 had shorter PPTs (8 or 9 years) and a 12-year option, while Jeevan Labh uses 16, 21 or 25-year terms with 10, 15 or 16 years of premium. The older Jeevan Labh 836 was sold alongside plan 830, and Jeevan Labh 736 is the version on sale now.
Frequently asked questions
Is LIC Limited Premium Endowment 830 still available?
No. The plan was withdrawn from sale on 1 February 2020. Existing policies continue with all benefits until maturity or claim. For a similar pay-short, stay-covered design today, look at LIC Jeevan Labh 736.
What is the maturity benefit of plan 830?
Maturity pays the basic sum assured plus all simple reversionary bonuses declared during the term, plus a final additional bonus if LIC declares one. At a ₹40 bonus rate, ₹5 lakh cover for 16 years adds about ₹3.2 lakh of bonus.
How is the death benefit calculated in LIC 830?
The nominee receives the sum assured on death plus vested bonuses and any final additional bonus. Sum assured on death is the highest of 125% of the basic sum assured, 10 times the annual premium or 105% of premiums paid.
What rebates were available in LIC 830?
Yearly payers got a 2% mode rebate and half-yearly payers 1%. There was also a high sum assured rebate of 0.50% for covers of ₹5 lakh to ₹9.99 lakh and 0.75% for ₹10 lakh and above. Our calculator applies both.
Can I take a loan on my LIC 830 policy?
Yes. Once at least two full years' premiums are paid, the policy acquires a surrender value and you can borrow against it. The loan limit is a percentage of that surrender value.
Do I pay GST on LIC 830 premiums now?
No. Premiums on individual life policies are GST-exempt from 22 September 2025. Older receipts show 4.5% GST in the first year and 2.25% in later years.
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.