This LIC plans calculator compares four popular plans in one place. For a 30-year-old man with ₹10 lakh cover, New Jeevan Anand 715 over 21 years costs about ₹55,157 a year and may pay about ₹20,66,000 at maturity. By contrast, ₹1 crore of pure cover under New Tech-Term 954 for 30 years costs about ₹11,837 a year, with no maturity payout.
LIC Plans Premium & Benefit Calculator
Your estimate
- Premium per instalment
- ₹55,157
- Premium paying term
- 21 years
- Total premium paid
- ₹11,58,297
- Total bonus (estimated)
- ₹9,66,000
- Final additional bonusestimate: 5–10% of sum assured
- ₹1,00,000
- Sum assured on deathplus bonuses accrued
- ₹12,50,000
- Death benefitif death happens in the last policy year
- ₹23,16,000
- Life coverwhole-life cover after maturity, no further premium
- ₹10,00,000
- Age at maturity
- 51 years
- Approx. return (IRR)
- 4.99%
- Total premium paid₹11,58,29756%
- Net gain₹9,07,70344%
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 the LIC plans calculator?
Choosing an LIC policy usually means switching between brochures, agents’ charts and half a dozen websites. This LIC plans calculator puts four of LIC’s most-searched plans behind one form. You enter your details once, switch plans, and compare what each costs and pays.
| Plan | Type | Who it suits |
|---|---|---|
| New Jeevan Anand 715 | With-profit endowment + whole-life cover | Savers who want a lump sum and lifelong cover |
| Jeevan Tarun 734 | With-profit child plan with money back | Parents building an education fund |
| New Tech-Term 954 | Online pure term | Earners who want high cover cheaply |
| Saral Jeevan Bima 859 | Standard term, ₹5–25 lakh | Smaller covers with simple terms |
Behind the scenes, the calculator runs the same modules as this site’s dedicated tools: the Jeevan Anand calculator, the Jeevan Tarun calculator and the term plan calculator. A figure here always matches the plan’s own page.
How it works
The form adapts to the plan you pick:
- Savings plans (Jeevan Anand, Jeevan Tarun): age (or child’s age), term, sum assured, premium mode and bonus rate. You get the yearly premium, the instalment for your mode, total premium, bonus, maturity or total benefit, death benefit and a year-wise or payout table.
- Term plans (954, 859): age, gender, smoking status, term and cover. You get the yearly premium, total premium, cover-till age and cost per ₹1 lakh of cover.
Each plan’s limits are applied automatically. For example, entry age for Jeevan Anand is 18 to 50 with maturity by 75. Tech-Term needs at least ₹50 lakh of cover, and Saral Jeevan Bima allows up to ₹25 lakh. If a combination is not allowed, you see a clear message instead of a wrong number.
No GST is added to any figure: individual life insurance premiums are GST-exempt from 22 September 2025.
Worked example: same person, three plans
Amit, 30, non-smoker, wants to understand his options.
| Plan and choice | Yearly premium | What he gets |
|---|---|---|
| New Jeevan Anand 715, ₹10 lakh, 21 years | ₹55,157 | About ₹20,66,000 at 51, then ₹10 lakh cover for life |
| New Tech-Term 954, ₹1 crore, 30 years | ₹11,837 | ₹1 crore to family if he dies before 60; nothing on survival |
| Saral Jeevan Bima 859, ₹25 lakh, 30 years | ₹12,894 | ₹25 lakh to family if he dies before 60; nothing on survival |
For his 5-year-old daughter, Jeevan Tarun 734 with ₹10 lakh cover and Option 3 costs about ₹60,838 a year for 15 years (₹9,12,570 in total). She would receive ₹1,00,000 a year at ages 20 to 24 and about ₹14,70,000 at 25, a total of about ₹19,70,000 at a ₹46 bonus rate.
The trade-off is clear. Jeevan Anand gives back money but little cover for the premium. Tech-Term gives large cover but no return. Saral Jeevan Bima costs more per ₹1 lakh of cover than Tech-Term (about ₹516 against ₹118), so it suits mainly those who need only a small cover. A common approach is to buy enough term cover first and then use a savings plan only for the part of your budget meant for guaranteed savings.
Tip: Compare plans on the same budget, not the same sum assured. ₹55,157 a year buys ₹10 lakh of Jeevan Anand, or ₹1 crore of Tech-Term with about ₹43,300 left over to invest each year.
How to read the results
- Yearly premium is the base annual premium for the plan and choices shown. Monthly, quarterly and half-yearly instalments appear as the modal premium.
- Maturity / total benefit for savings plans assumes the bonus rate you set continues. Bonus is declared yearly and is not guaranteed for the future.
- Sum assured on death shows the guaranteed death cover, plus bonus for with-profit plans.
- IRR appears for Jeevan Anand and shows the effective yearly return, typically around 5%.
- Cost per ₹1 lakh for term plans helps compare different cover amounts fairly.
Matching a plan to your goal
- “If something happens to me, my family must be able to live and repay the home loan.” Start with a term plan. Use Tech-Term 954 if you are comfortable buying online, Yuva Term 875 if you want an agent to handle the paperwork (Jeevan Amar 955 has been withdrawn), and Saral Jeevan Bima 859 if you only need up to ₹25 lakh.
- “I want a guaranteed lump sum at 50 or 55 and some cover for life.” New Jeevan Anand 715 does exactly this. Pick a term that ends when you need the money, and keep the premium at a level you can pay every year until then.
- “My child’s college fees start in 15 years.” Jeevan Tarun 734 pays out between ages 20 and 25. Choose Option 2, 3 or 4 if fees are spread over several years, or Option 1 if you want one larger amount at 25.
- “I already have a policy and want to know what it will pay.” Use the maturity or bonus calculator instead; they work for any with-profit policy.
Tips and common mistakes
- Buying savings plans for protection. A ₹10 lakh endowment will not replace a salary. Check your cover need first.
- Ignoring the premium paying term. Jeevan Anand needs premiums for the full term. Stopping early costs a lot in surrender value.
- Assuming high bonuses. Use a slightly lower bonus rate for planning; anything extra is a pleasant surprise.
- Forgetting the child plan’s premium risk. For Jeevan Tarun, add the premium waiver rider or have enough term cover on the parent.
Other LIC calculators
For older or other policies, the LIC maturity calculator works for any traditional policy, and the all-in-one premium calculator on this site covers more plans.
All results are estimates for comparison and planning. Final premiums and benefits are set by LIC. This site is independent and not affiliated with LIC.
Frequently asked questions
Which LIC plan is best for me?
It depends on the goal. For pure protection, a term plan such as New Tech-Term 954 gives the most cover per rupee. For guaranteed savings with lifelong cover, New Jeevan Anand 715 suits. For a child's education fund, Jeevan Tarun 734 times payouts for ages 20 to 25. Many families combine a term plan with one savings plan.
How is the premium calculated for different LIC plans?
Savings plans like Jeevan Anand and Jeevan Tarun use a tabular rate per ₹1,000 sum assured by age and term. Term plans price the risk of death over the term, so they are much cheaper for the same cover. This calculator uses each plan's own calculator on this site, so figures match the plan pages.
Is GST added to LIC premiums?
No. From 22 September 2025, premiums on individual life insurance policies, whether endowment, money back or term, are exempt from GST. Earlier, traditional plans carried 4.5% GST in the first year and 2.25% later, and term plans 18%.
Why does Jeevan Anand cost so much more than a term plan?
Jeevan Anand returns money: sum assured plus bonuses at maturity, and cover for life afterwards. Most of the premium is saved and invested for you. A term plan only pays on death during the term, so its premium covers risk alone. ₹10 lakh of Jeevan Anand costs more than four times ₹1 crore of Tech-Term.
Are the calculator figures exact LIC quotes?
No. They are estimates built from indicative rate tables and assumed bonus rates. Actual premiums can differ slightly with rebates, medical underwriting and LIC's rate revisions, and future bonuses are not guaranteed. Use the results to compare and plan, then confirm the final quote with LIC.
Can I use this calculator for old or withdrawn LIC plans?
This page covers current plans. For older versions, use the dedicated tools: the Jeevan Anand calculator handles plans 915, 815 and 149, the Jeevan Tarun calculator handles 934 and 834, and the maturity calculator works for any traditional policy.
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.