LIC Bima Jyoti Plan 760 Calculator
Calculation Results
Total Maturity Benefit
What is LIC Bima Jyoti Plan 760?
Life Insurance Corporation of India LIC Bima Jyoti Plan 760 is a non-linked and non-participating endowment insurance policy that offers a combination of life insurance protection and guaranteed savings benefits. Since the plan is not linked to the stock market, returns remain stable and are not affected by market fluctuations or bonus declarations.
This plan is specially designed for individuals and families looking for long-term financial security with assured returns.
Key Features of LIC Bima Jyoti Plan 760
- Limited Premium Payment Term:
Premiums are payable for a shorter duration, which is 5 years less than the selected policy term. - Flexible Policy Term Options:
The policy offers two term choices — 15 years and 20 years. - Wide Entry Age Eligibility:
Individuals aged from 30 days to 60 years are eligible to purchase the plan. - Minimum Sum Assured:
The minimum basic sum assured starts from ₹1,25,000 and can be increased in multiples of ₹25,000. - Maturity Age Criteria:
The minimum maturity age is 18 years, while the maximum maturity age allowed is 65 years. - Guaranteed Additions:
The plan provides guaranteed additions on the basic sum assured every policy year, which helps increase the overall maturity benefit payable at the end of the policy term.
Because of its guaranteed benefits and life cover, LIC Bima Jyoti Plan 760 is considered a reliable savings-oriented insurance solution for long-term financial planning.
LIC Bima Jyoti Plan 760 Eligibility Criteria
To purchase Life Insurance Corporation of India LIC Bima Jyoti Plan 760, applicants must meet the following eligibility requirements:
| Parameter | Minimum | Maximum |
|---|---|---|
| Age at Entry | 30 days / 90 days completed | 60 years (nearer birthday) |
| Age at Maturity | 18 years completed | 75 years (nearer birthday); 65 years for POSP/CPSC |
| Policy Term | 15 years | 20 years |
| Premium Paying Term | Policy term minus 5 years | Policy term minus 5 years |
| Basic Sum Assured | ₹1,00,000 / ₹1,25,000 (in multiples of ₹25,000) | No maximum limit (subject to underwriting) |
The plan is suitable for individuals seeking long-term guaranteed savings along with life insurance protection and flexible premium payment options.
Features and Benefits of LIC Bima Jyoti Plan 760
Life Insurance Corporation of India LIC Bima Jyoti Plan 760 offers a combination of guaranteed savings, life insurance protection, and flexible payment options, making it a suitable long-term financial planning solution.
Insurance Protection with Guaranteed Benefits
- Death Benefit:
In the unfortunate event of the policyholder’s death during the policy term, the nominee receives 125% of the basic sum assured along with accumulated guaranteed additions. - Maturity Benefit:
If the policyholder survives until the end of the policy term, the plan pays the basic sum assured together with all guaranteed additions accumulated during the policy duration. - Guaranteed Additions:
The policy provides guaranteed additions at the rate of ₹50 per ₹1,000 of the basic sum assured for every completed policy year throughout the policy term, helping increase the final maturity value.
Flexible Premium Payment Options
Premiums under the plan can be paid through multiple convenient modes:
- Yearly
- Half-yearly
- Quarterly
- Monthly through NACH (auto-debit facility)
The limited premium payment feature allows policyholders to pay premiums for fewer years than the actual policy tenure, making the plan more manageable and affordable.
Additional Benefits
- Loan Facility:
Policyholders can avail of a loan against the policy after paying at least one full year’s premium, subject to policy conditions. - Surrender Benefit:
The policy can be surrendered after completion of two policy years, and the policyholder becomes eligible for a guaranteed surrender value. - Tax Benefits:
Premiums paid qualify for deductions under Section 80C of the Income Tax Act, while maturity proceeds may be eligible for tax exemption under Section 10(10D), as per prevailing tax laws. - Optional Riders:
Additional protection can be obtained by adding optional riders such as the Accidental Death and Disability Rider.
These features make LIC Bima Jyoti Plan 760 a dependable insurance-cum-savings plan for individuals looking for guaranteed returns with financial security.
How Does the LIC Bima Jyoti Plan 760 Calculator Work?
The LIC Bima Jyoti Plan 760 Calculator is an online estimation tool that helps users calculate premium amounts, guaranteed additions, and expected maturity benefits based on selected policy details.
Life Insurance Corporation of India This calculator makes financial planning easier by providing quick and estimated policy values before purchasing the plan.
Details Required to Use the Calculator
To calculate premiums and benefits, users generally need to enter the following information:
- Age of the proposer
- Basic sum assured (minimum ₹1.25 lakh)
- Policy term (15 years or 20 years)
- Premium paying term (usually policy term minus 5 years)
- Premium payment frequency (yearly, half-yearly, quarterly, or monthly)
What the Calculator Displays
After entering the required details, the calculator provides estimated information such as:
- Approximate premium amount payable
- Total guaranteed additions accumulated during the policy term
- Estimated maturity benefit
- Possible surrender value after eligible years
- Applicable rebates or discounts based on premium amount or payment mode
The calculator helps users compare different combinations of policy terms and sum assured amounts to select a plan that matches their financial goals and affordability.
Step-by-Step Guide to Using the LIC Bima Jyoti Plan 760 Calculator
- Visit the LIC official website or a trusted insurance portal offering the calculator.
- Enter your age based on the nearer or completed birthday criteria.
- Select the desired sum assured amount. The minimum basic sum assured is ₹1.25 lakh, and it must be selected in multiples of ₹25,000.
- Choose the policy term, either 15 years or 20 years.
- The premium paying term is generally auto-selected as the policy term minus 5 years.
- Select your preferred premium payment mode such as yearly, half-yearly, quarterly, or monthly.
- Click on the “Calculate” button to view estimated premium amounts, maturity value, and other policy benefits.
- Review the calculated results to determine whether the plan suits your financial requirements and long-term investment goals.
Tips for Accurate Calculation
While using the Life Insurance Corporation of India LIC Bima Jyoti Plan 760 Calculator, keeping the following points in mind can help you get more accurate premium and benefit estimates:
- Consider any available rebates or discounts offered on higher sum assured amounts or specific premium payment modes.
- GST is applicable on insurance premiums. Generally, the GST rate is around 4.5% in the first policy year and approximately 2.25% in the following years, depending on the premium structure.
- Actual premium values may vary slightly due to underwriting decisions, age factors, or tax changes.
- For precise premium details, it is always advisable to verify calculations using LIC’s official tools or by consulting an authorized LIC advisor.
Why Choose LIC Bima Jyoti Plan 760?
LIC Bima Jyoti Plan 760 is considered a reliable savings and insurance solution because of the following advantages:
- Provides a balanced combination of life insurance protection and long-term savings.
- Offers guaranteed returns that are not affected by market fluctuations.
- Comes with a limited premium payment term, reducing the long-term premium burden.
- Supports multiple premium payment modes to suit different financial preferences.
- Includes additional financial flexibility through loan facilities and optional riders.
- Backed by LIC, one of India’s most trusted and well-established insurance providers.
This plan is suitable for individuals and families aiming to build a secure financial future, create a retirement corpus, or save for important life goals such as children’s education or marriage expenses.
Sample Illustration of LIC Bima Jyoti Plan 760
Here is a simple example to understand how the plan works:
Suppose a 30-year-old individual chooses a basic sum assured of ₹1,25,000 with a policy term of 20 years.
- Premium Paying Term: 15 years (20 years minus 5 years)
- Estimated Yearly Premium: Around ₹10,535 including applicable GST
- Guaranteed Additions: ₹50 per ₹1,000 of sum assured every year
- Maturity Benefit: Basic sum assured plus accumulated guaranteed additions
- Death Benefit: 125% of the basic sum assured along with accumulated guaranteed additions
Over the full policy term, the guaranteed additions help create a stable maturity corpus while simultaneously providing life insurance protection.
How to Buy LIC Bima Jyoti Plan 760?
Life Insurance Corporation of India LIC Bima Jyoti Plan 760 can be purchased through multiple convenient methods:
- Online Purchase:
The policy can be bought directly through LIC’s official website using a simple and paperless online process. - Offline Purchase:
Customers can also purchase the plan by visiting nearby LIC branches or contacting authorized LIC agents for assistance. - Insurance Comparison Platforms:
Several trusted insurance portals and aggregators also allow users to compare and buy the plan online.
Before purchasing the policy, it is recommended to use the LIC Bima Jyoti Plan 760 Calculator to estimate premiums, maturity value, and policy benefits clearly. Consulting an LIC advisor can also help in selecting the most suitable coverage based on individual financial goals.
FAQs About LIC Bima Jyoti Plan 760 Calculator
What is LIC Bima Jyoti Plan 760?
It is a non-linked and non-participating endowment insurance plan that offers guaranteed additions along with life insurance protection.
Who is eligible to apply for this plan?
Individuals aged between 30 days and 60 years can purchase this policy.
What policy term options are available?
The plan offers two policy term choices — 15 years and 20 years.
What is the premium paying duration?
Premiums are payable for a period that is 5 years shorter than the selected policy term.
What happens if the policyholder dies during the policy term?
In case of death during the policy tenure, the nominee receives 125% of the basic sum assured along with accumulated guaranteed additions.
How can premium and maturity values be calculated?
Users can estimate premiums, maturity benefits, and other returns by using the LIC Bima Jyoti Plan 760 Calculator available online.
Conclusion
Life Insurance Corporation of India LIC Bima Jyoti Plan 760 is a reliable savings-oriented insurance plan that combines guaranteed returns, life insurance protection, and limited premium payment benefits. The policy is suitable for individuals looking for long-term financial security with stable and predictable returns.
Using the LIC Bima Jyoti Plan 760 Calculator makes it easier to understand premium commitments, maturity benefits, and overall policy value before making an investment decision. This helps users plan their finances more effectively and choose coverage that aligns with their future goals.
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