LIC New Bima Nivesh (UIN 512N203V01) is a withdrawn single-premium endowment plan with a 5 or 10-year term. You pay once and LIC adds a guaranteed ₹60 (5 years) or ₹65 (10 years) per ₹1,000 sum assured every year. For ₹1 lakh over 10 years, the single premium is about ₹85,005 and the maturity value ₹1,65,000, roughly 6.9% a year.
New Bima Nivesh Single Premium & Maturity Calculator
Your estimate
sum assured + guaranteed additions; loyalty addition, if any, is extra
- High premium rebate
- ₹1,295
- Guaranteed addition per year
- ₹6,500
- Guaranteed additions
- ₹65,000
- Death benefitin the last policy year; earlier it is sum assured + additions accrued so far
- ₹1,65,000
- Approx. return (IRR)
- 6.86%
- Age at maturity
- 45 years
- Single premium₹85,00552%
- Net gain₹79,99548%
Year-wise growth of the policy (guaranteed)
| Policy year | Your age | Guaranteed additions so far | Death benefit in that year |
|---|---|---|---|
| 1 | 36 years | ₹6,500 | ₹1,06,500 |
| 2 | 37 years | ₹13,000 | ₹1,13,000 |
| 3 | 38 years | ₹19,500 | ₹1,19,500 |
| 4 | 39 years | ₹26,000 | ₹1,26,000 |
| 5 | 40 years | ₹32,500 | ₹1,32,500 |
| 6 | 41 years | ₹39,000 | ₹1,39,000 |
| 7 | 42 years | ₹45,500 | ₹1,45,500 |
| 8 | 43 years | ₹52,000 | ₹1,52,000 |
| 9 | 44 years | ₹58,500 | ₹1,58,500 |
| 10 | 45 years | ₹65,000 | ₹1,65,000 |
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 Nivesh?
LIC New Bima Nivesh (UIN 512N203V01) is a single-premium endowment plan with guaranteed additions. You pay one lump sum at the start and LIC promises a fixed amount at maturity. Life cover runs throughout the term.
The plan belongs to LIC’s Bima Nivesh family of single-premium plans, alongside Bima Nivesh 2005 (Plan 171). It has been withdrawn, so this page is for policyholders who want to check their numbers. The closest plan on sale today is Single Premium Endowment Plan 717.
New Bima Nivesh at a glance
| Feature | Details |
|---|---|
| UIN | 512N203V01 |
| Plan type | Single premium endowment with guaranteed additions |
| Policy term | 5 or 10 years |
| Entry age | 18 to 50 years |
| Maximum maturity age | 75 years |
| Sum assured | ₹25,000 to ₹50,00,000 |
| Guaranteed addition | ₹60 per ₹1,000 a year (5 years), ₹65 (10 years) |
| Premium | One single payment |
| Status | Withdrawn |
How the single premium is calculated
The price is a fixed rate per ₹1,000 of sum assured, the same for every entry age:
| Term | Single premium per ₹1,000 | Guaranteed addition per ₹1,000 per year |
|---|---|---|
| 5 years | ₹952 | ₹60 |
| 10 years | ₹863 | ₹65 |
Larger premiums get a high premium rebate: 1% above ₹25,000, 1.5% above ₹50,000 and 2% above ₹2 lakh.
Worked example: a 35-year-old takes ₹1 lakh sum assured for 10 years. The tabular premium is ₹86,300; after the ₹1,295 rebate, the single premium is ₹85,005. LIC adds ₹6,500 each year, so the maturity value is ₹1,65,000. That is about 6.86% a year. On ₹10 lakh, the single premium is ₹8,45,740 for 10 years or ₹9,32,960 for 5 years.
Tip: the additions are simple, not compound. Some online calculators wrongly compound them and show much bigger maturity figures. The year-wise table in our calculator adds the same amount every year.
Maturity benefit
At the end of the term you receive:
- the basic sum assured, plus
- all guaranteed additions, plus
- a loyalty addition, if LIC declares one for policies maturing that year.
A ₹5 lakh, 5-year policy bought for ₹4,66,480 pays ₹6,50,000 at maturity, before any loyalty addition.
Death benefit
If the policyholder dies during the term, the nominee gets the sum assured plus the guaranteed additions added up to that policy year, and any loyalty addition. The calculator’s table shows this amount year by year.
Loan, surrender and tax
A policy loan is available on the terms set when the policy was issued, and the policy can be surrendered for a value based on the premium paid and the additions earned.
Tax needs care here. The single premium is a large share of the sum assured (about 86% on a 10-year policy), and the income tax rules link both the Section 123 of the Income-tax Act, 2025 (earlier Section 80C) deduction and the Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) maturity exemption to that ratio. Whether your maturity amount is tax-free therefore depends on the year your policy was issued, so check with a tax adviser. Individual life premiums are GST-exempt from 22 September 2025.
Who does this help today?
If you still hold a New Bima Nivesh policy, use the calculator to confirm the maturity cheque you should expect and compare it with your bond. To judge how that return compares with a bank deposit or another plan, try our LIC return calculator or the maturity calculator.
Frequently asked questions
Is LIC New Bima Nivesh still available?
No. LIC has withdrawn New Bima Nivesh for new business, and existing policies run to maturity on their original terms. For a current single-premium savings plan, look at LIC Single Premium Endowment Plan 717.
How much is the guaranteed addition in New Bima Nivesh?
The guaranteed addition is ₹60 per ₹1,000 sum assured for each year of a 5-year policy and ₹65 per ₹1,000 for a 10-year policy. It is a flat amount added every year, not compounded. On ₹1 lakh for 10 years that is ₹6,500 a year and ₹65,000 in total.
What is the maturity value of New Bima Nivesh?
Maturity value is the sum assured plus all guaranteed additions, plus a loyalty addition if LIC declares one. ₹1 lakh for 10 years matures at ₹1,65,000; ₹5 lakh for 5 years matures at ₹6,50,000, before any loyalty addition.
What single premium do I pay for New Bima Nivesh?
The tabular rate is ₹952 per ₹1,000 sum assured for 5 years and ₹863 for 10 years, less a high premium rebate of 1% to 2% on larger premiums. A ₹5 lakh, 5-year policy costs ₹4,66,480 after the 2% rebate.
What return does New Bima Nivesh give?
Based on the single premium and guaranteed maturity value, the return works out to about 6.9% a year for both terms. Any loyalty addition would push it slightly higher. The return is fixed at the start, so it does not depend on markets.
What happens if the policyholder dies during the term?
The nominee receives the sum assured plus the guaranteed additions added up to that year, and any loyalty addition LIC declares. In the last year of a ₹1 lakh, 10-year policy this equals the full ₹1,65,000.
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.