Calculation Summary
Important: This is an information/planning calculator, not an official LIC premium quotation. The brochure states a minimum group size of 10, minimum Sum Assured on Death of ₹10,000 per member, maximum ₹20,00,000 per member, and minimum contribution of ₹1,00,000 at policy inception (plus Risk Premium). The policy is annually renewable. Final contribution, risk premium, benefits and policy terms are subject to LIC’s quotation, Scheme Rules and policy document.
LIC Group Benefits Secure Plan Calculator – Estimate Contributions and Fund Value
The LIC Group Benefits Secure Plan Calculator is a useful estimation tool designed to help employers, trustees, and HR professionals understand the possible contribution requirements and accumulated benefit value under LIC’s Group Benefits Secure Plan.
LIC’s Group Benefits Secure Plan is classified as a Non-Participating, Non-Linked, Group, Savings product. It was announced for launch on 16 February 2026, and no official withdrawal date has been declared in the available public disclosures.
What Is LIC Group Benefits Secure Plan?
LIC’s Group Benefits Secure Plan is a group-oriented savings insurance product primarily intended for employers, institutions, and trustees that need to manage long-term employee benefit liabilities.
The plan is designed to combine group-level life insurance protection with a fund-building mechanism. This can help organisations systematically arrange funds for obligations such as gratuity, leave encashment, and other similar employee benefits.
The product has been categorised as a Non-Participating (Non-Par), Non-Linked, Group, Savings plan for the domestic Indian market.
Here, Non-Par indicates that members do not participate in LIC’s profits through bonuses, while Non-Linked means that the benefits are not directly connected to market-linked investments such as equity funds.
Key Product Details
- Product Type: Group savings life insurance for employer or institutional groups.
- Market: Domestic Indian market only at launch.
- Launch Date: 16 February 2026, as disclosed under SEBI LODR Regulation 30.
- Withdrawal Date: No public withdrawal notice has been identified, and the plan is not listed among withdrawn group products in the provided source.
For general information about LIC’s group schemes, the source refers readers to LIC’s official Group Schemes page.
Why Is a Calculator Important for This Plan?
Since this is a group savings product, employers and trusts may need to manage a large number of members as well as liabilities that change over time.
A dedicated LIC Group Benefits Secure Plan Calculator can help estimate:
- The approximate annual or one-time contribution required.
- The possible fund or benefit value after a selected number of years using an assumed interest or crediting rate.
- The approximate cost of life cover or mortality charges included within the contribution.
- How adding or removing employees could affect the overall funding requirement.
Similar group savings products from other insurers use policy-account structures in which contributions are allocated to an account and may earn a declared interest rate. Some products also provide a minimum assured benefit.
However, the detailed calculation formula for LIC’s new Group Benefits Secure Plan was not publicly available in the source material. Therefore, a calculator can use a similar fund-accumulation approach with clearly stated assumptions until LIC publishes the official brochure.
Key Features of LIC Group Benefits Secure Plan
The publicly available information provides several high-level details about the product.
- Category: Non-Par, Non-Linked, Group, Savings.
- Target Customers: Employers, institutions, registered societies, and trusts seeking a structured way to fund employee benefits.
- Purpose: Create a fund through regular or single contributions while providing group life cover.
- Market: Approved specifically for the Indian domestic market.
Based on the structure used by other group savings products, the following features may be relevant:
- Contributions may be maintained in a policy account through separate tranches for different contribution periods.
- Individual tranches may receive an interest rate declared for the relevant period.
- A minimum assured benefit may potentially be expressed as a percentage of contributions after applicable charges.
The exact rules for interest crediting, assured benefits, and mortality charges will need to be confirmed from LIC’s official brochure or policy document for this particular plan.
What Is a LIC Group Benefits Secure Plan Calculator?
A LIC Group Benefits Secure Plan Calculator is an online or offline planning tool that allows employers to estimate how the plan could work for their organisation before requesting an official quotation from LIC.
It should be understood that such a calculator is not an official LIC premium calculator. Instead, it can serve as a planning tool for agents, consultants, HR teams, trustees, and employers.
A typical calculator may:
- Collect information about group members and expected benefits.
- Apply a mathematical model for estimated fund growth and mortality costs.
- Display estimated annual contributions and projected fund or benefit values.
- Allow users to change assumptions such as interest rate, benefit growth, and number of members to compare different scenarios.
Because the detailed LIC formula is not yet publicly available, any such calculator should clearly state that the results are indicative only. The final premium, benefits, charges, and policy terms will depend on LIC’s official quotation and policy documentation.
Main Inputs Used in the Calculator
A practical LIC Group Benefits Secure Plan Calculator for employers can include the following information.
1. Basic Group Details
The calculator may ask for:
- Number of members.
- Average age or age range of employees.
- Type of benefit being funded, such as gratuity, leave encashment, or another long-term employee benefit.
These details are similar to the information generally required when employers seek quotations for group savings products.
2. Contribution Details
Users may enter:
- Contribution frequency: Yearly, half-yearly, quarterly, monthly, or single contribution.
- Expected annual contribution or contribution per employee.
- Expected contribution period, such as 5, 10, or 15 years.
Under similar group savings structures, individual contributions can be treated as separate tranches with their own specified periods.
3. Benefit and Fund Assumptions
The calculator may also include:
- Expected annual return or interest-crediting rate for estimation.
- Approximate mortality charge or life-cover cost, expressed as a percentage of contributions or per ₹1,000 of Sum Assured.
- Expected annual salary growth or increase in employee benefit liabilities.
The mortality rate and other assumptions remain approximate until LIC releases the applicable rate tables.
4. Life Cover Details
Even group savings products generally include a fixed or formula-based life cover for individual members.
For example, the source notes that Pramerica Life’s group savings plan provides a fixed Sum Assured of 10,000 per member, except for superannuation schemes.
The exact life-cover structure applicable to LIC’s Group Benefits Secure Plan will depend on the official product documentation.
How the Calculator Estimates Yearly Premium and Fund Value
Since detailed official calculation rules were not publicly available in the source, a calculator can use a simplified approach based on the general structure of group savings products.
A basic calculation method could involve:
- Starting with the total contribution for the particular year.
- Deducting an estimated mortality charge for the life cover.
- Applying the assumed interest rate to the remaining fund.
- Repeating the process in subsequent years while adding new contributions and applicable interest.
Simple Illustration — Conceptual Example
Consider an employer that plans to contribute ₹10,00,000 per year for 10 years for 50 employees.
For illustration, assume:
- Mortality charge: 1% of the annual contribution.
- Interest/crediting rate: 6% per year.
These figures are only working assumptions.
Year 1
Annual contribution:
₹10,00,000
Estimated mortality charge:
₹10,000
Net contribution:
₹9,90,000
The estimated year-end fund can then be calculated by applying the assumed 6% rate:
₹9,90,000 × 1.06
Year 2
A new net contribution is added to the existing fund, and the assumed interest is then applied to the accumulated amount.
The same process can continue through Year 10.
This calculation style is similar to the policy-account approach used in other non-linked and non-participating group savings products. Actual LIC figures may vary considerably once the official interest rates, charges, and calculation methodology are announced.
Example Table: Basic Calculator Inputs and Outputs
The following is an illustrative calculator structure and does not represent official LIC data.
| Item | Example Value | Note |
|---|---|---|
| Number of Members | 50 | Group size entered by employer |
| Yearly Contribution | ₹10,00,000 | Total group contribution per year |
| Assumed Interest Rate | 6% p.a. | For estimation; actual rate will depend on LIC |
| Assumed Mortality Charge | 1% of contribution | Illustrative assumption based on common group savings structures |
| Net Yearly Contribution | ₹9,90,000 | Amount remaining after mortality charge |
| Tenure for Projection | 10 years | Period used for fund projection |
Such a table allows HR teams and employers to quickly understand how different contribution amounts and assumed interest rates can affect the projected fund.
Launch Date and Withdrawal Status
The source identifies the following status information for LIC’s Group Benefits Secure Plan:
- Launch Date: 16 February 2026.
- Announcement: Regulatory disclosures filed with the BSE and NSE under SEBI (LODR) Regulation 30.
- Withdrawal Status: As of February 2026, no public notice indicated that the plan had been withdrawn or closed.
For checking the plan’s status, the source recommends reviewing:
- LIC’s Group Schemes section.
- LIC’s general insurance-plan listing.
- Official LIC PDF brochures and product documents when published.
How Employers and HR Teams Can Use the Calculator
The calculator is particularly useful during the initial planning and discussion stage.
Employers and HR professionals can use it to:
- Evaluate whether a group savings structure could be used for gratuity, leave encashment, or similar employee benefits.
- Compare different contribution approaches, such as higher contributions over a shorter period versus lower contributions over a longer period.
- Estimate the possible fund size using reasonable assumptions before making a final decision.
- Have more informed discussions with LIC agents or corporate-channel representatives.
Because employee benefit liabilities generally increase with salary levels and years of service, the calculator can also incorporate factors such as salary growth and average remaining service years. This can provide a more realistic estimate of potential future benefit liabilities.
Sample Table: Typical Uses of the Calculator
| Use Case | Who Uses It | Purpose |
|---|---|---|
| Gratuity Funding | Employer / HR | Estimate contributions required to build a corpus for statutory gratuity |
| Leave Encashment | Employer / HR | Plan funds for future leave-encashment liabilities |
| Employee Welfare Fund | Trust / Society | Create a long-term benefit fund for members |
| Policy Review | CFO / Finance Head | Assess whether existing contribution levels remain adequate under updated assumptions |
These examples reflect common uses of group savings arrangements in the Indian market, although LIC’s final detailed rules for this new product still need to be confirmed through official documentation.
Frequently Asked Questions (FAQ)
What is the LIC Group Benefits Secure Plan?
LIC Group Benefits Secure Plan is a group insurance product launched on February 16, 2026, combining savings and life cover for employees through a master policy.
When was this plan launched?
The plan was announced for launch on February 16, 2026. The source states that no withdrawal date had been announced at that stage.
What does the LIC Group Benefits Secure Plan Calculator do?
The calculator estimates potential premiums, Sum Assured, and benefits using inputs such as group size, age, and policy term.
Are there any tax benefits?
The source states that premiums may qualify under Section 80C, while maturity and death benefits are often tax-free under Section 10(10D), subject to the applicable conditions.
How much are the sample premiums?
For an illustration involving 50 members, age 35, ₹10 lakh cover, and a 5-year period, the source gives an approximate yearly total of ₹1,20,000.
Conclusion
The LIC Group Benefits Secure Plan is a new Non-Participating, Non-Linked, Group, Savings product announced for the Indian domestic market on 16 February 2026. It is intended to help employers and institutions systematically manage long-term employee benefit liabilities.
A LIC Group Benefits Secure Plan Calculator can provide employers, HR teams, trustees, and financial professionals with a convenient way to estimate annual contributions and potential fund values using reasonable assumptions.
However, because the detailed official calculation methodology, interest-crediting rules, and charges were not yet publicly available in the source, calculator results should be treated as indicative estimates only. Final premiums, benefits, charges, and policy conditions will depend on LIC’s official quotation and policy documentation.
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