Calculate the premium and total benefits for LIC Bima Shree (UIN: 512N316V03), LIC's limited-pay money-back plan for high net-worth individuals. Pay premiums for only (term minus 4) years, collect two cash payouts mid-term, and receive the maturity lump sum at the end.
Bima Shree asks you to pay premiums for only (policy term minus 4) years, then leaves the policy fully active for the remaining 4 years with no further premium obligation. During the policy term, two cash payouts land at specific anniversaries. These are the survival benefits. At the end of the full term, you receive the maturity lump sum. The minimum Sum Assured is Rs.10 lakh with no upper ceiling, and there is zero GST from September 2025.
| Year | Cumul. Premium Paid | Cumul. Guaranteed Additions | Survival Benefit | Death Benefit (floor) | Maturity Amount |
|---|
Most LIC plans ask you to pay premiums for the entire policy term. Bima Shree does not. You pay for (policy term minus 4) years and then stop, but the policy keeps running and delivering benefits for the full term. That design feature matters for HNIs who want their premium commitment to end well before the policy matures. Bima Shree is a Par, Non-Linked savings plan that combines life cover, guaranteed additions accruing year by year during the premium paying term, two mid-term cash payouts called survival benefits, and a final maturity lump sum. The minimum Basic Sum Assured is Rs.10,00,000 with no ceiling.
You pay for (term minus 4) years and stop. On an 18-year policy that means 14 years of premiums, then 4 years where the policy runs fully active with no outflow. Most endowment plans do not offer this.
Two cash payouts land at specific policy anniversaries while the policy is still active. These survival benefits range from 30% to 45% of the Basic Sum Assured each, depending on the term you choose. The policy does not reduce or lapse after these payouts.
Guaranteed Additions accrue at Rs.50 per Rs.1,000 BSA for years 1 to 5, rising to Rs.55 per Rs.1,000 BSA from year 6 through the end of the Premium Paying Term. These are not the same as Simple Reversionary Bonuses. Once accrued, they are guaranteed and form part of the policy's guaranteed benefit irrespective of LIC's fund performance.
After 5 completed years and 5 paid premiums, a Loyalty Addition becomes payable at maturity or on death. Unlike Guaranteed Additions, this is variable and depends on LIC's fund performance in the relevant year. In a poor performance year it is zero.
Bima Shree has a floor of Rs.10,00,000 Basic Sum Assured, in multiples of Rs.50,000, with no upper ceiling. Annual premiums at the minimum BSA run from roughly Rs.80,000 to Rs.1,20,000 depending on age and term. This is designed for people who have that capacity.
Terms available are 14, 16, 18, 20, 24, and 28 years. Each comes with a different premium paying period, survival benefit percentage, and maximum entry age. The calculator disables terms that are not available for the age you enter.
The Sum Assured on Death is the higher of 125% of BSA or 7 times the annualised premium. A further floor applies: the total death benefit will not be less than 105% of all premiums paid to date. This cover runs for the full policy term, including the 4 years after premiums stop.
Individual life insurance premiums became fully GST-exempt from 22 September 2025. Before that date, Bima Shree attracted 4.5% in year 1 and 2.25% from year 2. The calculator reflects the current zero-GST position.
| 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 are where Bima Shree differs most clearly from standard endowment plans. In regular LIC plans, bonuses depend on annual surplus declarations and are not guaranteed until declared. In Bima Shree, the GA rates are fixed upfront in the policy document: Rs.50 per Rs.1,000 BSA for years 1 to 5, and Rs.55 per Rs.1,000 BSA from year 6 through the end of the Premium Paying Term. GAs accrue only during the PPT. Once the premium paying period ends, no further GAs are added. But the ones already accrued are fully guaranteed and paid out at maturity or death.
| 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.
Paying annually earns a 2% rebate on the tabular premium. Half-yearly payments earn 1%. Quarterly, monthly NACH, and salary deduction modes attract no rebate. The reason is operational: LIC prefers larger, less frequent collections and passes part of that efficiency on as a discount. The calculator applies the correct rebate based on the mode you select.
Bima Shree's High BSA rebate is smaller than on standard endowment plans because the base premiums are already substantial. Below Rs.20 lakh BSA: no rebate. Rs.20 lakh to below Rs.50 lakh: 0.40 per mille of BSA per year. Rs.50 lakh and above: 0.70 per mille. On a Rs.1 crore BSA that works out to 0.70 per mille of Rs.1,00,00,000, which is Rs.7,000 per year deducted from the tabular premium.
If the policyholder dies within the first 5 years, the nominee receives the Sum Assured on Death plus all Guaranteed Additions accrued up to that date. If death occurs after completing 5 years, the Loyalty Addition is also payable on top of the above. The Sum Assured on Death is whichever is higher: 125% of BSA or 7 times the annualised premium. Regardless of the formula result, the total payout will not fall below 105% of total premiums paid. This death cover remains in force for the full policy term, including the 4 years after premiums stop.
| 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 |
The Premium Paying Term in Bima Shree is always 4 years shorter than the Policy Term you choose. Pick an 18-year policy and you pay premiums for 14 years, then stop. The policy does not lapse at year 14. It stays fully active for the remaining 4 years, delivering life cover throughout. The maturity payout arrives at year 18 as planned. This structure suits people who want their financial commitment to end well before the policy matures.
The two survival benefit payouts are made in cash at specific policy anniversaries while the policy remains fully in force. For a 14-year term: 30% of BSA at years 10 and 12. For a 16-year term: 35% at years 12 and 14. For an 18-year term: 40% at years 14 and 16. For a 20-year term: 45% at years 16 and 18. For 24-year and 28-year terms: 45% at years 20 and 22, and at years 24 and 26 respectively. Receiving the first payout does not reduce the second. The policy continues fully in force after each one.
Guaranteed Additions are exactly what the name says: guaranteed. The rates are fixed at Rs.50 per Rs.1,000 BSA for years 1 to 5, rising to Rs.55 per Rs.1,000 BSA from year 6 through the end of the Premium Paying Term. Once accrued, they form part of the guaranteed benefit and are not subject to LIC's investment performance in any year. Loyalty Addition is different. It is variable and declared by LIC annually based on fund performance. After 5 completed years and premiums, it becomes payable at maturity or on death. In a year where fund performance is poor, the Loyalty Addition declared is zero.
The structure is designed so the two survival benefits plus the maturity payout always add up to 100% of BSA. For the 14-year term: 30% plus 30% plus 40% equals 100%. For the 20-, 24-, and 28-year terms: 45% plus 45% plus 10% equals 100%. Longer terms pay more of the BSA as mid-term survival benefits and less at maturity. What makes up for the smaller maturity percentage in longer terms is the higher total of Guaranteed Additions, since more premium paying years means more GA accrual, keeping the total benefit picture meaningful.
Bima Shree was built for high net-worth individuals who have the capacity to commit meaningfully to a long-duration plan. The minimum Basic Sum Assured is Rs.10,00,000, available in multiples of Rs.50,000, with no ceiling. The annual premium at the minimum BSA ranges from roughly Rs.80,000 to Rs.1,20,000 or more depending on the policyholder's age and chosen term. Someone who qualifies for and funds an Rs.80 lakh BSA policy is the intended buyer.
Every policy term has a maximum entry age determined by LIC's rule that maturity cannot occur beyond age 69. For the 14-year term, the maximum entry age is 55. For 16 years, 53. For 18 years, 51. For 20 years, 49. For 24 years, 45. For 28 years, 41. The minimum entry age for all terms is 8 years. The calculator checks the age you enter and disables any terms where you would mature after age 69.
You do not have to collect the survival benefit when it falls due. LIC allows deferment of either or both payouts. The deferred amount earns compound interest at a rate linked to the 5-year Government Security yield minus 150 basis points. The catch is the process: you need to inform the servicing LIC branch in writing at least 6 months before the due date. The deferred amount is then settled at whichever event comes first: your chosen withdrawal date, policy maturity, your death, or policy surrender.
No GST applies to Bima Shree premiums from 22 September 2025. Under GST Reforms 2.0, all individual life insurance premiums across plan types, including limited premium payment plans like Bima Shree, are fully exempt. Before that date, the plan attracted 4.5% GST in the first year and 2.25% from the second year onward. The calculator shows Rs.0 GST, which is the correct position for policies issued or renewed from September 2025.
Bima Shree supports four optional riders. The Accidental Death and Disability Benefit Rider provides additional cover in case of accidental death or disability. The Accident Benefit Rider is available for the premium paying term only. The New Term Assurance Rider provides pure life cover for the full policy term and must be opted at policy inception. The Premium Waiver Benefit Rider is relevant for policies taken on a child: if the proposer dies, future premiums are waived and the policy continues. Combined rider premiums across all four cannot exceed 30% of the base plan premium.
The calculator uses LIC's officially published premium tables, survival benefit percentages, Guaranteed Addition rates, and maturity percentages from the Bima Shree brochure. The GA calculation has been cross-verified against LIC's own benefit illustration: for age 35, term 18, BSA Rs.10 lakh, cumulative GA equals Rs.7,45,000, which matches. Loyalty Addition is illustrative, as it depends on LIC's annual declaration and the figure shown reflects LIC's published benefit illustration scenario. For a precise quote with underwriting adjustments, speak to a licensed LIC agent.
