LIC New Bima Gold 179 is a money-back plan sold from 4 September 2006 to 1 January 2014. It paid part of the sum assured every 4 years, returned the rest of your premiums at maturity with a loyalty addition, and kept 50% cover free for half the term afterwards. A 30-year-old with ₹5 lakh cover for 20 years pays about ₹22,100 a year by our calculator.
New Bima Gold 179 Premium & Payout Calculator
Your estimate
money back + maturity
- Premium per instalment
- ₹22,100
- Total premium paid
- ₹4,42,000
- Survival benefits (money back)10% every 4 years
- ₹2,00,000
- Estimated maturity amount
- ₹3,42,000
- Sum assured on deathfull sum assured, even after money back payouts
- ₹5,00,000
- Free cover after maturityfor 10 more years
- ₹2,50,000
- Age at maturity
- 50 years
- Total premium paid₹4,42,00082%
- Net gain₹1,00,00018%
Year-wise premium, payouts and life cover
| Year | Age | Premium | Payout | Life cover |
|---|---|---|---|---|
| 1 | 31 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 2 | 32 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 3 | 33 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 4 | 34 years | ₹22,100 | ₹50,000 | ₹5,00,000 |
| 5 | 35 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 6 | 36 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 7 | 37 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 8 | 38 years | ₹22,100 | ₹50,000 | ₹5,00,000 |
| 9 | 39 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 10 | 40 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 11 | 41 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 12 | 42 years | ₹22,100 | ₹50,000 | ₹5,00,000 |
| 13 | 43 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 14 | 44 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 15 | 45 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 16 | 46 years | ₹22,100 | ₹50,000 | ₹5,00,000 |
| 17 | 47 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 18 | 48 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 19 | 49 years | ₹22,100 | ₹0 | ₹5,00,000 |
| 20 | 50 years | ₹22,100 | ₹3,42,000 | ₹5,00,000 |
| 21 | 51 years | ₹0 | ₹0 | ₹2,50,000 |
| 22 | 52 years | ₹0 | ₹0 | ₹2,50,000 |
| 23 | 53 years | ₹0 | ₹0 | ₹2,50,000 |
| 24 | 54 years | ₹0 | ₹0 | ₹2,50,000 |
| 25 | 55 years | ₹0 | ₹0 | ₹2,50,000 |
| 26 | 56 years | ₹0 | ₹0 | ₹2,50,000 |
| 27 | 57 years | ₹0 | ₹0 | ₹2,50,000 |
| 28 | 58 years | ₹0 | ₹0 | ₹2,50,000 |
| 29 | 59 years | ₹0 | ₹0 | ₹2,50,000 |
| 30 | 60 years | ₹0 | ₹0 | ₹2,50,000 |
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 New Bima Gold Plan 179?
LIC New Bima Gold (Table 179, UIN 512N236V01) is a money-back plan with a twist: instead of paying the sum assured plus bonus, it returns your premiums. Part comes back as money-back instalments every four years, and the balance comes at maturity with a loyalty addition. Once the policy matures, half the sum assured stays in force as free life cover for another half-term.
The plan was sold from 4 September 2006 until 1 January 2014. This page is for people who still hold it. For a current plan with regular payouts, see New Money Back 720.
New Bima Gold 179 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 179 / 512N236V01 |
| Plan type | Money-back plan with return of premium and extended cover |
| Policy term | 12, 16 or 20 years |
| Premiums | Payable throughout the term (as per our source) |
| Entry age | 14 to 57 / 51 / 45 years for 12 / 16 / 20-year terms |
| Minimum sum assured | ₹50,000 (multiples of ₹5,000) |
| Money back | Every 4th year: 15% (12 and 16 years) or 10% (20 years) |
| Extended cover | 50% of sum assured for half the term after maturity |
| Status | Withdrawn on 1 January 2014 |
Money-back schedule
| Policy term | Payouts during the term |
|---|---|
| 12 years | 15% of sum assured in years 4 and 8 |
| 16 years | 15% in years 4, 8 and 12 |
| 20 years | 10% in years 4, 8, 12 and 16 |
Premium and a worked example
The premium is a tabular rate per ₹1,000 sum assured by age and term. Because much of it is returned later, it is higher than a pure endowment plan with the same cover.
Example 1 (calculator output): age 30, ₹5 lakh, 20-year term, yearly.
- Yearly premium: ₹22,100 (₹4,42,000 over 20 years)
- Money back: ₹50,000 in years 4, 8, 12 and 16 (₹2,00,000)
- Maturity: ₹2,42,000 guaranteed + ₹1,00,000 loyalty addition (at ₹200 per ₹1,000) = ₹3,42,000
- Total received: ₹5,42,000
- Free cover after maturity: ₹2,50,000 till age 60
Example 2: age 35, ₹10 lakh, 12-year term. Premium ₹71,050 a year; ₹1.5 lakh in years 4 and 8; maturity ₹7,52,600 including an assumed ₹2 lakh loyalty addition; then ₹5 lakh free cover for 6 years.
The loyalty addition is not guaranteed. Set it to 0 to see only the return of premium. No GST is payable now; before 22 September 2025 premiums carried 4.5% GST in year one and 2.25% later.
Tip: your real return comes mostly from the loyalty addition and the life cover. When the policy matures, ask LIC for the declared loyalty rate and enter it above to check the maturity cheque.
Death benefit
- During the term: the nominee receives the full sum assured, regardless of money back already paid, plus any applicable loyalty addition.
- During the extended cover period: 50% of the sum assured.
- Auto cover: if at least two full years’ premiums were paid and later premiums stopped, cover continues for a limited period under the auto-cover clause.
Loan and surrender
A loan is available after three full years’ premiums. The policy can also be surrendered then; LIC pays the higher of the guaranteed and special surrender value. Because money back has already been paid, the surrender value is often small. Try the surrender value calculator first.
Tax benefits
Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime). Money back, 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)), subject to the premium-to-sum-assured rule for policies issued after April 2012.
New Bima Gold vs a regular money-back plan
A standard money-back plan pays the sum assured in instalments plus bonuses. New Bima Gold instead refunds premiums and adds a loyalty addition, but it also gives cover of the full sum assured throughout and free extended cover afterwards. Compare today’s options with the money back policy calculator.
Frequently asked questions
Can I still buy LIC New Bima Gold 179?
No. LIC stopped selling New Bima Gold on 1 January 2014. Existing policies run to maturity with their extended cover. For a current money-back plan, look at LIC New Money Back Plan 720.
How is the maturity of New Bima Gold calculated?
Maturity = total premiums paid (excluding extra and rider premiums) minus survival benefits already received, plus the loyalty addition. For ₹5 lakh cover over 20 years, that is ₹2,42,000 guaranteed, plus about ₹1 lakh if the loyalty addition is ₹200 per ₹1,000.
When are money-back payments made in New Bima Gold?
Every fourth policy year. A 12-year policy pays 15% of the sum assured in years 4 and 8, a 16-year policy 15% in years 4, 8 and 12, and a 20-year policy 10% in years 4, 8, 12 and 16.
What is the extended cover in New Bima Gold?
After maturity, life cover of 50% of the sum assured continues free for half the policy term, for example 10 more years on a 20-year policy. If death occurs in that period, the nominee receives half the sum assured.
What is the death benefit during the policy term?
The nominee receives the full sum assured, even if some money-back instalments have already been paid, plus any loyalty addition that applies. That makes the cover much larger than the premiums in the early years.
Is GST still charged on New Bima Gold premiums?
No. From 22 September 2025 individual life insurance premiums are GST-exempt, including old policies still paying premiums. Earlier receipts show 4.5% GST in year one and 2.25% afterwards.
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.