LIC Bima Ratna Plan 764

Approximate Maturity Benefit of LIC Bima Shree Plan 748

Based on the sample scenario and estimated calculations, the approximate maturity benefit may reach around ₹38,50,000, including:

• Maturity sum assured
• Guaranteed additions
• Loyalty additions (subject to LIC declarations)

Actual returns may vary depending on policy conditions, premium amount, and bonus rates declared by Life Insurance Corporation of India from time to time.

Introduction to LIC Bima Ratna Plan 764

Life insurance plays a crucial role in protecting the financial future of a family. Among the various insurance products offered by LIC, the LIC Bima Ratna Plan 764 is considered a suitable choice for individuals looking for both guaranteed savings and life insurance protection under a single policy.

What Is LIC Bima Ratna Plan 764?

LIC Bima Ratna Plan 764 is a non-linked, non-participating individual savings life insurance policy offered by Life Insurance Corporation of India. The plan combines financial protection with guaranteed returns, making it suitable for long-term financial planning.

The policy is designed to provide:

• Guaranteed survival benefits during the policy term
• Financial security for the nominee in case of the policyholder’s death
• A maturity payout at the end of the policy period

LIC Bima Ratna Plan 764 helps policyholders build disciplined savings while ensuring financial support for their family during uncertain situations.

Detailed Overview of LIC Bima Ratna Plan 764

LIC Bima Ratna Plan 764 is a money-back life insurance policy that provides periodic payouts during the policy term while also offering long-term financial protection and guaranteed returns.

The policy is designed for individuals who want both insurance security and disciplined savings under a single financial plan.

Key Advantages of the Plan

• Periodic money-back benefits during the policy term
• Guaranteed additions that increase policy value over time
• Limited premium payment duration with longer benefit coverage
• Loan and surrender value facilities
• Flexible premium payment modes

Important Features of LIC Bima Ratna Plan 764

To understand the plan more clearly, here are the major features of LIC Bima Ratna Plan 764 offered by Life Insurance Corporation of India.

Policy Term Choices

The policy is available with the following term options:

• 15 years
• 20 years
• 25 years

Limited Premium Payment Term

The premium payment duration is shorter than the selected policy term. For example:

• For a 15-year policy term, premiums may be payable for only 13 years.

Minimum Sum Assured

• Starts from ₹5,00,000
• Available in multiples of ₹25,000

Maximum Entry Age

The maximum entry age depends on the selected policy term and is generally calculated as:

• 65 years minus the chosen policy term

Survival Benefits

The policy provides periodic money-back payouts at specified intervals during the policy period, helping maintain liquidity for future financial needs.

Death Benefit Protection

In case of the policyholder’s unfortunate death during the policy term, the nominee receives the higher of:

• 125% of the Basic Sum Assured, or
• 7 times the annualised premium

Maturity Benefit

On successful completion of the policy term, the policyholder receives:

• 50% of the Basic Sum Assured
• Accumulated Guaranteed Additions

Optional Rider Benefits

The policyholder may also choose additional riders, subject to underwriting approval, such as:

• Accidental Death Benefit Rider
• Critical Illness Rider
• Term Assurance Rider

Loan Facility

A loan facility generally becomes available after payment of at least two full years’ premiums.

Surrender Value Benefit

The policy acquires surrender value after payment of two complete policy years’ premiums.

Who Should Consider LIC Bima Ratna Plan 764?

This plan may be suitable for individuals who:

• Want life insurance protection for their family
• Prefer regular cash flow through money-back benefits
• Seek guaranteed returns along with financial security
• Want shorter premium payment duration with long-term benefits
• Wish to avail tax benefits under Sections 80C and 10(10D) as per prevailing tax laws

LIC Bima Ratna Plan 764 Calculator

The LIC Bima Ratna Plan 764 Calculator is an important financial planning tool that helps policy buyers estimate premiums, maturity benefits, survival payouts, and death benefits before purchasing the policy.

Using the calculator provides better clarity regarding future commitments and expected returns.

How LIC Bima Ratna Plan 764 Calculator Works

To use the calculator, policyholders generally need to enter the following details:

Required Inputs

• Basic Sum Assured (minimum ₹5,00,000)
• Policy Term (15, 20, or 25 years)
• Age of the Life Assured
• Premium Payment Mode
• Optional Riders (if selected)

Estimated Outputs Provided

After entering the details, the calculator displays:

• Estimated annual premium payable
• Survival benefit payouts
• Maturity benefit with guaranteed additions
• Death benefit amount

This helps individuals plan their finances more effectively and understand how the policy may support their future financial goals.

Benefits of LIC Bima Ratna Plan 764

LIC Bima Ratna Plan 764 offers a combination of guaranteed returns, periodic payouts, and life insurance protection, making it suitable for long-term financial planning.

1. Survival Benefits

The policy provides money-back benefits during the policy term at specified intervals depending on the selected policy duration.

For example, under the 20-year policy option, the policyholder may receive 25% of the Basic Sum Assured at the end of the 18th and 19th policy years.

These periodic payouts help provide liquidity for future financial needs and planned expenses.

2. Death Benefit Protection

If the policyholder passes away during the policy term, the nominee receives the death benefit along with guaranteed additions.

The “Sum Assured on Death” is defined as the higher of:

• 125% of the Basic Sum Assured, or
• 7 times the annualised premium

Additionally, the death benefit will never be less than 105% of the total premiums paid.

3. Maturity Benefit

If the policyholder survives until policy maturity, they receive:

• 50% of the Basic Sum Assured
• Accrued Guaranteed Additions

This helps create a substantial lump sum amount at the end of the policy term.

4. Guaranteed Additions

The policy offers guaranteed additions every year, which continue accumulating during the policy duration.

These additions significantly enhance both the maturity value and death benefit payable under the plan.

5. Flexible Premium Payment Modes

Policyholders can choose premium payment frequency according to convenience:

• Monthly
• Quarterly
• Half-yearly
• Yearly

The policy also provides limited premium payment options where premiums are payable for a shorter duration than the overall policy term.

6. Loan Facility

A loan facility becomes available after payment of at least two full years’ premiums.

This feature helps policyholders access liquidity during emergencies without surrendering the policy.

7. Surrender Value Benefit

The policy can generally be surrendered after payment of at least two full years’ premiums.

On surrender, the policyholder receives the higher of:

• Guaranteed Surrender Value, or
• Special Surrender Value

Eligibility Criteria for LIC Bima Ratna Plan 764

Below are the basic eligibility conditions for purchasing the policy offered by Life Insurance Corporation of India.

Parameter	Details
Minimum Age at Entry	90 days
Maximum Age at Entry	65 years minus policy term
Policy Term Options	15, 20, or 25 years
Minimum Basic Sum Assured	₹5,00,000 (multiples of ₹25,000)
Maximum Sum Assured	As per LIC underwriting rules
Premium Payment Term	Limited period shorter than policy term

How to Use LIC Bima Ratna Plan 764 Calculator Online

Using an LIC Bima Ratna Plan 764 Calculator is simple and helps estimate premiums and future benefits instantly.

Step-by-Step Process

Step 1: Visit a Trusted LIC Calculator Website

Open a reliable insurance calculator platform or LIC-related website.

Step 2: Select LIC Bima Ratna Plan 764

Choose the LIC Bima Ratna Plan 764 option from the available plan list.

Step 3: Enter Required Information

Provide details such as:

• Age of the life assured
• Sum assured
• Policy term
• Premium payment frequency

Step 4: Select Optional Riders

Choose additional riders if required.

Step 5: Calculate Benefits

Click the “Calculate Premium” option to view:

• Premium payable
• Survival benefits
• Maturity benefits
• Death benefit details

You can also compare multiple combinations to select the most suitable option according to your financial goals and budget.

Advantages of Using LIC Bima Ratna Plan 764 Calculator

Accurate Premium Estimates

The calculator helps provide estimated premiums using LIC policy structures and formulas.

Better Financial Planning

Users can plan future budgets by understanding premium obligations and expected returns.

Easy Comparison

Different policy terms and sum assured options can be compared quickly.

Time-Saving Convenience

Instant calculations eliminate the need for manual premium estimation or repeated branch visits.

Improved Transparency

The calculator clearly explains how survival benefits, guaranteed additions, and maturity payouts are structured.

Frequently Asked Questions About LIC Bima Ratna Plan 764

What Is LIC Bima Ratna Plan 764?

LIC Bima Ratna Plan 764 is a non-linked, non-participating savings and life insurance policy that provides guaranteed periodic payouts along with life coverage.

Who Can Purchase This Plan?

Individuals aged between 90 days and the maximum eligible age limit can purchase the policy subject to LIC underwriting conditions.

What Is the Minimum Sum Assured?

The minimum Basic Sum Assured under the policy is ₹5,00,000.

What Policy Terms Are Available?

The policy offers term options of:

• 15 years
• 20 years
• 25 years

Are Monthly Premium Payments Allowed?

Yes, the policy supports monthly, quarterly, half-yearly, and yearly premium payment options.

Can the Policy Be Surrendered Before Maturity?

Yes, the policy can generally be surrendered after payment of at least two full years’ premiums.

Final Conclusion

LIC Bima Ratna Plan 764 is a strong combination of guaranteed savings and life insurance protection. The plan offers periodic money-back benefits, guaranteed additions, maturity value, and financial security for the family under a single policy structure.

Using an LIC Bima Ratna Plan 764 Calculator makes financial planning easier by helping policyholders understand premium commitments, expected returns, maturity value, and insurance benefits before investing.

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