Calculate the limited-pay premium for LIC's Bima Shree Plan (UIN: 512N316V03) — a Par, Non-Linked, Life, Individual, Savings Plan designed for High Net-worth Individuals. Pay premiums for only (term − 4) years and receive money-back survival benefits mid-term plus a lump sum at maturity.
LIC Bima Shree is a limited premium payment money-back plan — premiums are paid for only (policy term − 4) years, after which the policy continues fully active for 4 more years. You receive two survival benefit payouts (cash-back) at specific anniversaries during the term, plus a final maturity lump sum. Minimum Sum Assured is ₹10 Lakh, making this ideal for high net-worth individuals seeking guaranteed returns with life cover. GST is ₹0 from September 2025.
| Year | Cumul. Premium Paid | Cumul. Guaranteed Additions | Survival Benefit | Death Benefit (floor) | Maturity Amount |
|---|
LIC's Bima Shree (UIN: 512N316V03) is a Par, Non-Linked, Life, Individual, Savings Plan designed specifically for High Net-worth Individuals (HNIs). It is a limited-premium money-back plan combining life protection, guaranteed additions, mid-term cash payouts (survival benefits), and a maturity lump sum. Unlike regular endowment plans, Bima Shree requires you to pay premiums for only (policy term − 4) years — so you stop paying premiums 4 years before maturity while the policy remains fully in-force. The minimum Sum Assured is ₹10,00,000, with no upper limit.
Pay premiums for only (term − 4) years. For a 18-year policy, pay for just 14 years — then stop. The policy stays active for 4 more years.
Receive two cash payouts (30%–45% of BSA each, depending on term) at specific anniversaries during the policy term — while the policy continues.
Earn ₹50/₹1000 BSA for years 1–5 and ₹55/₹1000 BSA from year 6 to PPT end. Once declared, these are guaranteed — not subject to LIC's fund performance.
After completing 5 full policy years and paying 5 full premiums, a Loyalty Addition (variable, like FAB) is payable at maturity or on death after 5 years.
Minimum Basic Sum Assured is ₹10,00,000 in multiples of ₹50,000. No maximum limit — designed for high net-worth individuals.
Choose from 14, 16, 18, 20, 24, or 28-year terms — each with age-specific eligibility and different survival benefit percentages.
Sum Assured on Death = higher of 125% BSA or 7× annualised premium, subject to a floor of 105% of total premiums paid — robust protection throughout the full policy term.
All individual life insurance premiums including limited-pay plans are now fully exempt from GST under GST Reforms 2.0.
| Policy Term | PPT | Min Entry Age | Max Entry Age | Survival Benefit (each payout) | Maturity % BSA |
|---|---|---|---|---|---|
| 14 years | 10 years | 8 years | 55 nbd | 30% of BSA (Yr 10 & 12) | 40% |
| 16 years | 12 years | 8 years | 53 nbd | 35% of BSA (Yr 12 & 14) | 30% |
| 18 years | 14 years | 8 years | 51 nbd | 40% of BSA (Yr 14 & 16) | 20% |
| 20 years | 16 years | 8 years | 49 nbd | 45% of BSA (Yr 16 & 18) | 10% |
| 24 years | 20 years | 8 years | 45 nbd | 45% of BSA (Yr 20 & 22) | 10% |
| 28 years | 24 years | 8 years | 41 nbd | 45% of BSA (Yr 24 & 26) | 10% |
Maximum maturity age: 69 years (nearer birthday). The total of two survival benefit payouts + maturity percentage always = 100% of BSA. Plus Guaranteed Additions and Loyalty Addition separately.
Guaranteed Additions (GAs) are a unique feature of Bima Shree distinct from Simple Reversionary Bonuses. They accrue at the end of each policy year during the Premium Paying Term only — once PPT ends, no more GAs accrue. Once declared, they are guaranteed and form part of the guaranteed benefits.
| Policy Year | GA Rate (per ₹1,000 BSA per year) |
|---|---|
| Years 1 to 5 | ₹50 per ₹1,000 BSA |
| Year 6 to end of PPT | ₹55 per ₹1,000 BSA |
Example: For BSA ₹10L, term 18 (PPT 14): Total GA = (5 × ₹50 × 1000) + (9 × ₹55 × 1000) = ₹2,50,000 + ₹4,95,000 = ₹7,45,000 — verified against LIC's own benefit illustration.
| Age (nbd) | 14-yr (PPT 10) | 16-yr (PPT 12) | 18-yr (PPT 14) | 20-yr (PPT 16) | 24-yr (PPT 20) | 28-yr (PPT 24) |
|---|---|---|---|---|---|---|
| 20 years | ₹1,08,780 | ₹91,483 | ₹78,890 | ₹70,168 | ₹55,125 | ₹44,982 |
| 30 years | ₹1,09,270 | ₹92,071 | ₹79,576 | ₹71,050 | ₹56,301 | ₹46,501 |
| 40 years | ₹1,11,622 | ₹94,717 | ₹82,516 | ₹74,382 | ₹60,172 | ₹51,009 |
| 50 years | ₹1,18,580 | ₹1,01,969 | ₹90,111 | N/A | N/A | N/A |
Source: LIC Bima Shree brochure Section 8. Exclusive of taxes. No GST from September 2025. Mode rebate and HSA rebate apply additionally.
Yearly mode: 2% discount on tabular premium. Half-yearly: 1% discount. Quarterly, monthly (NACH), and salary deduction modes: no rebate. The calculator applies these automatically.
The HSA rebate for Bima Shree is expressed in per mille (‰) of BSA — much smaller than regular endowment plans since this is a premium-heavy HNI product. BSA below ₹20L: NIL. ₹20L to <₹50L: 0.40‰ of BSA. ₹50L and above: 0.70‰ of BSA. For example, with BSA ₹1Cr: rebate = 0.70‰ × ₹1,00,00,000 = ₹7,000 per year.
On death during the first 5 policy years: Sum Assured on Death (SAoD) + accrued Guaranteed Additions. On death after completing 5 policy years: SAoD + accrued GAs + Loyalty Addition (if any). SAoD = higher of 125% of BSA or 7 times annualised premium. The total death benefit is not less than 105% of all premiums paid to date.
| Feature | Bima Shree | New Endowment | New Jeevan Anand |
|---|---|---|---|
| Plan Type | Money-back (survival benefits) | Pure endowment | Endowment + lifelong cover |
| Premium Payment | Limited (term − 4 years) | Full term | Full term |
| Min BSA | ₹10,00,000 | ₹2,00,000 | ₹2,00,000 |
| Mid-term Payouts | Yes — 2 survival benefits | No | No |
| Bonus Type | Guaranteed Additions + Loyalty | SRB + FAB | SRB + FAB |
| Policy Terms Available | 14, 16, 18, 20, 24, 28 yrs | 12–35 years | 15–35 years |
| Lifelong Cover | No (policy term only) | No | Yes (BSA after maturity) |
| Min Entry Age | 8 years | 8 years | 18 years |
| Target Segment | HNI — ₹10L+ BSA | Retail — ₹2L+ BSA | Retail — ₹2L+ BSA |
In Bima Shree the Premium Paying Term (PPT) is always 4 years less than the chosen Policy Term. For an 18-year policy you pay for only 14 years, after which the policy is premium-free but stays fully active — life cover continues and the maturity payout is received at year 18.
Two equal cash payouts are made on specific anniversaries while the policy continues in force: 30% BSA at years 10 & 12 (term 14); 35% at years 12 & 14 (term 16); 40% at years 14 & 16 (term 18); 45% at years 16 & 18 (term 20); 45% at years 20 & 22 (term 24); 45% at years 24 & 26 (term 28). The policy remains fully in force after each payout.
Guaranteed Additions are fixed and certain — ₹50 per ₹1,000 BSA for years 1–5 and ₹55 from year 6 to end of PPT. Loyalty Addition is variable and discretionary, declared by LIC based on fund performance and payable at maturity or death after 5 years. In a poor-performance year, Loyalty Addition can be zero.
The total BSA is always distributed as 100% across two survival benefits and maturity payout. Term 14: 30+30+40=100%; terms 20/24/28: 45+45+10=100%. Longer terms pay more as survival benefits, leaving a smaller maturity residual, but longer PPTs mean more years of Guaranteed Addition accrual, keeping total value substantial.
Bima Shree is designed for High Net-worth Individuals. The minimum BSA is ₹10,00,000 in multiples of ₹50,000 with no upper cap. Annual premiums for the minimum BSA typically range from ₹80,000 to ₹1,20,000 or more depending on age and term, making this plan suited for individuals with significant savings capacity.
Yes. Maximum entry ages are: term 14 → 55, term 16 → 53, term 18 → 51, term 20 → 49, term 24 → 45, term 28 → 41 — all capped so maturity does not exceed age 69. Minimum entry age is 8 years for all terms. The calculator automatically disables unavailable terms based on the entered age.
Yes. LIC allows deferment of either or both survival benefits. The deferred amount earns compound interest linked to the 5-year G-Sec yield minus 150 basis points. You must inform the servicing branch in writing at least 6 months before the due date, and the deferred amount is settled at withdrawal, maturity, death, or surrender.
No. From 22 September 2025, under GST Reforms 2.0, all individual life insurance premiums including limited-payment plans like Bima Shree are fully exempt from GST. Previously, Bima Shree attracted 4.5% GST in year 1 and 2.25% from year 2. This calculator correctly shows ₹0 GST.
Four optional riders are available: (a) Accidental Death and Disability Benefit Rider; (b) Accident Benefit Rider (PPT only); (c) New Term Assurance Rider (full policy term, inception only); (d) Premium Waiver Benefit Rider (proposer death, future premiums waived — useful for child policies). Combined rider premiums cannot exceed 30% of base plan premiums.
This calculator uses LIC's officially published premium tables, survival benefit percentages, Guaranteed Addition rates, and maturity percentages from the official Bima Shree brochure. The GA calculation is cross-verified: for age 35, term 18, BSA ₹10L, cumulative GA = ₹7,45,000 ✓. Loyalty Addition is illustrative. Always verify with a licensed LIC agent for a precise underwriting quote.
