LIC Bima Platinum Plan 770 Calculator
LIC Bima Platinum (Plan 770) is an individual, non-participating savings plan offering contractually guaranteed additions of ₹60 per thousand Sum Assured per year. It provides 100% tax-free maturity benefits under Section 10(10D), backed by the Section 37 Sovereign Guarantee, and enhanced liquidity under the IRDAI 2024 surrender value rules.
Calculate guaranteed maturity, ₹60/1k Guaranteed Additions, IRDAI 2024 surrender values, and policy loan eligibility for LIC Bima Platinum (Plan 770).
Authoritative 2026 Actuarial Model • Last Updated: September 1, 2026
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Guaranteed Benefit Illustration
Guaranteed Maturity Benefit
Instalment Premium (Yearly)
Total Premiums Paid
Basic Sum Assured
Total Guaranteed Additions
Effective Tax-Free IRR
Settlement Payout Options
| Policy Year | Age | Annual Premium (GST) | Cumulative Premium | Guaranteed Additions | Death Benefit |
|---|---|---|---|---|---|
| Year 1 | 29 yrs | ₹ 1,40,103 | ₹ 1,40,103 | ₹ 90,000 | ₹ 15,90,000 |
| Year 2 | 30 yrs | ₹ 1,37,087 | ₹ 2,77,190 | ₹ 1,80,000 | ₹ 16,80,000 |
| Year 3 | 31 yrs | ₹ 1,37,087 | ₹ 4,14,277 | ₹ 2,70,000 | ₹ 17,70,000 |
| Year 4 | 32 yrs | ₹ 1,37,087 | ₹ 5,51,364 | ₹ 3,60,000 | ₹ 18,60,000 |
| Year 5 | 33 yrs | ₹ 1,37,087 | ₹ 6,88,451 | ₹ 4,50,000 | ₹ 19,50,000 |
| Year 6 | 34 yrs | ₹ 1,37,087 | ₹ 8,25,538 | ₹ 5,40,000 | ₹ 20,40,000 |
| Year 7 | 35 yrs | ₹ 1,37,087 | ₹ 9,62,625 | ₹ 6,30,000 | ₹ 21,30,000 |
| Year 8 | 36 yrs | ₹ 1,37,087 | ₹ 10,99,712 | ₹ 7,20,000 | ₹ 22,20,000 |
| Year 9 | 37 yrs | ₹ 1,37,087 | ₹ 12,36,799 | ₹ 8,10,000 | ₹ 23,10,000 |
| Year 10 | 38 yrs | ₹ 1,37,087 | ₹ 13,73,886 | ₹ 9,00,000 | ₹ 24,00,000 |
| Year 11 | 39 yrs | ₹ 0 | ₹ 13,73,886 | ₹ 9,90,000 | ₹ 24,90,000 |
| Year 12 | 40 yrs | ₹ 0 | ₹ 13,73,886 | ₹ 10,80,000 | ₹ 25,80,000 |
| Year 13 | 41 yrs | ₹ 0 | ₹ 13,73,886 | ₹ 11,70,000 | ₹ 26,70,000 |
| Year 14 | 42 yrs | ₹ 0 | ₹ 13,73,886 | ₹ 12,60,000 | ₹ 27,60,000 |
| Year 15 | 43 yrs | ₹ 0 | ₹ 13,73,886 | ₹ 13,50,000 | ₹ 28,50,000 |
| Year 16 | 44 yrs | ₹ 0 | ₹ 13,73,886 | ₹ 14,40,000 | ₹ 29,40,000 |
| Year 17 | 45 yrs | ₹ 0 | ₹ 13,73,886 | ₹ 15,30,000 | ₹ 30,30,000 |
| Year 18 | 46 yrs | ₹ 0 | ₹ 13,73,886 | ₹ 16,20,000 | ₹ 31,20,000 |
| Year 19 | 47 yrs | ₹ 0 | ₹ 13,73,886 | ₹ 17,10,000 | ₹ 32,10,000 |
| Year 20 | 48 yrs | ₹ 0 | ₹ 13,73,886 | ₹ 18,00,000 | ₹ 33,00,000 |
IRDAI 2024: Surrender available after 1 full year. Max loan = 90% of surrender value.
| Policy Year | GSV | SSV | Payable SV | Max Loan (90%) |
|---|---|---|---|---|
| Year 1 | ₹ 40,221 | ₹ 60,737 | ₹ 60,737 | ₹ 54,663 |
| Year 2 | ₹ 1,02,849 | ₹ 1,30,584 | ₹ 1,30,584 | ₹ 1,17,525 |
| Year 3 | ₹ 1,54,274 | ₹ 2,10,566 | ₹ 2,10,566 | ₹ 1,89,510 |
| Year 4 | ₹ 3,22,140 | ₹ 3,01,812 | ₹ 3,22,140 | ₹ 2,89,926 |
| Year 5 | ₹ 4,02,675 | ₹ 4,05,559 | ₹ 4,05,559 | ₹ 3,65,003 |
| Year 6 | ₹ 4,83,210 | ₹ 5,23,171 | ₹ 5,23,171 | ₹ 4,70,854 |
| Year 7 | ₹ 5,63,745 | ₹ 6,56,144 | ₹ 6,56,144 | ₹ 5,90,530 |
| Year 8 | ₹ 8,77,164 | ₹ 8,06,120 | ₹ 8,77,164 | ₹ 7,89,448 |
| Year 9 | ₹ 9,86,810 | ₹ 9,74,901 | ₹ 9,86,810 | ₹ 8,88,129 |
| Year 10 | ₹ 10,96,455 | ₹ 11,64,465 | ₹ 11,64,465 | ₹ 10,48,019 |
| Year 11 | ₹ 11,18,955 | ₹ 12,98,743 | ₹ 12,98,743 | ₹ 11,68,869 |
| Year 12 | ₹ 11,41,455 | ₹ 14,46,612 | ₹ 14,46,612 | ₹ 13,01,951 |
| Year 13 | ₹ 11,63,955 | ₹ 16,09,356 | ₹ 16,09,356 | ₹ 14,48,420 |
| Year 14 | ₹ 11,86,455 | ₹ 17,88,374 | ₹ 17,88,374 | ₹ 16,09,536 |
| Year 15 | ₹ 12,08,955 | ₹ 19,85,192 | ₹ 19,85,192 | ₹ 17,86,673 |
| Year 16 | ₹ 15,04,560 | ₹ 22,01,474 | ₹ 22,01,474 | ₹ 19,81,326 |
| Year 17 | ₹ 15,31,560 | ₹ 24,39,031 | ₹ 24,39,031 | ₹ 21,95,127 |
| Year 18 | ₹ 15,58,560 | ₹ 26,99,838 | ₹ 26,99,838 | ₹ 24,29,854 |
| Year 19 | ₹ 15,85,560 | ₹ 29,86,047 | ₹ 29,86,047 | ₹ 26,87,442 |
| Year 20 | ₹ 16,12,560 | ₹ 33,00,000 | ₹ 33,00,000 | ₹ 0 |
Eligibility Criteria & Contract Parameters (Plan 770)
| Parameter | Minimum | Maximum |
|---|---|---|
| Entry Age | 90 days | 60 years |
| Maturity Age | 18 years | 75 years |
| Policy Term (PT) | 10 years | 25 years |
| Premium Paying Term (PPT) | 5 years (Limited Pay) | Equal to Policy Term (Regular) |
| Basic Sum Assured (BSA) | ₹2,00,000 | No Upper Limit (Subject to underwriting) |
| Guaranteed Addition (GA) | ₹60 per ₹1,000 BSA / Year | Accrues annually throughout Policy Term |
The Mechanism of Guaranteed Additions (GA)
Unlike traditional participating policies, LIC Bima Platinum (Plan 770) is a non-participating plan featuring contractual Guaranteed Additions of ₹60 per thousand Basic Sum Assured credited at the end of each policy year. This eliminates all equity and interest-rate volatility.
IRDAI 2024 Surrender & Special Surrender Value (SSV) Framework
Under the IRDAI Master Circular (June 12, 2024), policyholders can surrender after just 1 full year of premium payment. Insurer must pay max(GSV, SSV).
SSV Actuarial Formula
Policy Loan Eligibility
Borrow up to 90% of the active surrender value without surrendering life cover.
Macro-Financial Context & Asset-Liability Matching
LIC deploys Bima Platinum alongside Jeevan Raksha as a strategic barbell: high-margin mortality underwriting (Jeevan Raksha) + predictable investment spread margins (Plan 770). Backed by LIC AUM of ₹59.39 lakh crore and Section 37 Sovereign Guarantee.