Smart LIC Policy Calculator for Every Life Goal

We have divided all LIC plans into 5 dedicated categories: Endowment Plans, Whole Life Plans, Money Back Plans, Pension & Annuity Plans, and Term Assurance Plans. Each plan has a dedicated calculator page fine-tuned with its specific PPT formulas, bonus rates, and IRDAI rules.

First year premiums are subject to 4.5% GST (2.25% CGST + 2.25% SGST), while renewal premiums from Year 2 onwards have a concessional GST rate of 2.25%. Single premium and pension annuities have 1.8% GST, and pure term/critical illness riders are charged at 18% GST.

Simple Reversionary Bonus is declared annually by LIC per ₹1,000 Sum Assured and vests into the policy every year. Final Additional Bonus (FAB) is a one-time terminal bonus paid upon maturity or death claim on policies that have run for long terms (typically 15 years or more).

Under current LIC rules, policies acquire guaranteed surrender value and loan eligibility after 2 consecutive full years of premiums have been paid. You can take a loan of up to 90% of the surrender value at ~9.5% p.a. interest.