LIC Bima Platinum Plan 770 Calculator
LIC Bima Platinum (Plan 770) is an individual, non-participating savings plan offering contractually guaranteed additions of тВ╣60 per thousand Sum Assured per year. 100% tax-free maturity benefits under Section 10(10D), backed by the Section 37 Sovereign Guarantee.
Calculate guaranteed maturity, IRDAI 2024 surrender values, and policy loan eligibility for LIC Bima Platinum (Plan 770).
Authoritative 2026 Actuarial Model • Last Updated: October 16, 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 | тВ╣ 1,40,103 | тВ╣ 1,40,103 | тВ╣ 90,000 | тВ╣ 15,90,000 |
| Year 2 | 30 yrs | тВ╣ 1,37,087 | тВ╣ 2,77,190 | тВ╣ 1,80,000 | тВ╣ 16,80,000 |
| Year 3 | 31 yrs | тВ╣ 1,37,087 | тВ╣ 4,14,277 | тВ╣ 2,70,000 | тВ╣ 17,70,000 |
| Year 4 | 32 yrs | тВ╣ 1,37,087 | тВ╣ 5,51,364 | тВ╣ 3,60,000 | тВ╣ 18,60,000 |
| Year 5 | 33 yrs | тВ╣ 1,37,087 | тВ╣ 6,88,451 | тВ╣ 4,50,000 | тВ╣ 19,50,000 |
| Year 6 | 34 yrs | тВ╣ 1,37,087 | тВ╣ 8,25,538 | тВ╣ 5,40,000 | тВ╣ 20,40,000 |
| Year 7 | 35 yrs | тВ╣ 1,37,087 | тВ╣ 9,62,625 | тВ╣ 6,30,000 | тВ╣ 21,30,000 |
| Year 8 | 36 yrs | тВ╣ 1,37,087 | тВ╣ 10,99,712 | тВ╣ 7,20,000 | тВ╣ 22,20,000 |
| Year 9 | 37 yrs | тВ╣ 1,37,087 | тВ╣ 12,36,799 | тВ╣ 8,10,000 | тВ╣ 23,10,000 |
| Year 10 | 38 yrs | тВ╣ 1,37,087 | тВ╣ 13,73,886 | тВ╣ 9,00,000 | тВ╣ 24,00,000 |
| Year 11 | 39 yrs | тВ╣ 0 | тВ╣ 13,73,886 | тВ╣ 9,90,000 | тВ╣ 24,90,000 |
| Year 12 | 40 yrs | тВ╣ 0 | тВ╣ 13,73,886 | тВ╣ 10,80,000 | тВ╣ 25,80,000 |
| Year 13 | 41 yrs | тВ╣ 0 | тВ╣ 13,73,886 | тВ╣ 11,70,000 | тВ╣ 26,70,000 |
| Year 14 | 42 yrs | тВ╣ 0 | тВ╣ 13,73,886 | тВ╣ 12,60,000 | тВ╣ 27,60,000 |
| Year 15 | 43 yrs | тВ╣ 0 | тВ╣ 13,73,886 | тВ╣ 13,50,000 | тВ╣ 28,50,000 |
| Year 16 | 44 yrs | тВ╣ 0 | тВ╣ 13,73,886 | тВ╣ 14,40,000 | тВ╣ 29,40,000 |
| Year 17 | 45 yrs | тВ╣ 0 | тВ╣ 13,73,886 | тВ╣ 15,30,000 | тВ╣ 30,30,000 |
| Year 18 | 46 yrs | тВ╣ 0 | тВ╣ 13,73,886 | тВ╣ 16,20,000 | тВ╣ 31,20,000 |
| Year 19 | 47 yrs | тВ╣ 0 | тВ╣ 13,73,886 | тВ╣ 17,10,000 | тВ╣ 32,10,000 |
| Year 20 | 48 yrs | тВ╣ 0 | тВ╣ 13,73,886 | тВ╣ 18,00,000 | тВ╣ 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 | тВ╣ 40,221 | тВ╣ 60,737 | тВ╣ 60,737 | тВ╣ 54,663 |
| Year 2 | тВ╣ 1,02,849 | тВ╣ 1,30,584 | тВ╣ 1,30,584 | тВ╣ 1,17,525 |
| Year 3 | тВ╣ 1,54,274 | тВ╣ 2,10,566 | тВ╣ 2,10,566 | тВ╣ 1,89,510 |
| Year 4 | тВ╣ 3,22,140 | тВ╣ 3,01,812 | тВ╣ 3,22,140 | тВ╣ 2,89,926 |
| Year 5 | тВ╣ 4,02,675 | тВ╣ 4,05,559 | тВ╣ 4,05,559 | тВ╣ 3,65,003 |
| Year 6 | тВ╣ 4,83,210 | тВ╣ 5,23,171 | тВ╣ 5,23,171 | тВ╣ 4,70,854 |
| Year 7 | тВ╣ 5,63,745 | тВ╣ 6,56,144 | тВ╣ 6,56,144 | тВ╣ 5,90,530 |
| Year 8 | тВ╣ 8,77,164 | тВ╣ 8,06,120 | тВ╣ 8,77,164 | тВ╣ 7,89,448 |
| Year 9 | тВ╣ 9,86,810 | тВ╣ 9,74,901 | тВ╣ 9,86,810 | тВ╣ 8,88,129 |
| Year 10 | тВ╣ 10,96,455 | тВ╣ 11,64,465 | тВ╣ 11,64,465 | тВ╣ 10,48,019 |
| Year 11 | тВ╣ 11,18,955 | тВ╣ 12,98,743 | тВ╣ 12,98,743 | тВ╣ 11,68,869 |
| Year 12 | тВ╣ 11,41,455 | тВ╣ 14,46,612 | тВ╣ 14,46,612 | тВ╣ 13,01,951 |
| Year 13 | тВ╣ 11,63,955 | тВ╣ 16,09,356 | тВ╣ 16,09,356 | тВ╣ 14,48,420 |
| Year 14 | тВ╣ 11,86,455 | тВ╣ 17,88,374 | тВ╣ 17,88,374 | тВ╣ 16,09,536 |
| Year 15 | тВ╣ 12,08,955 | тВ╣ 19,85,192 | тВ╣ 19,85,192 | тВ╣ 17,86,673 |
| Year 16 | тВ╣ 15,04,560 | тВ╣ 22,01,474 | тВ╣ 22,01,474 | тВ╣ 19,81,326 |
| Year 17 | тВ╣ 15,31,560 | тВ╣ 24,39,031 | тВ╣ 24,39,031 | тВ╣ 21,95,127 |
| Year 18 | тВ╣ 15,58,560 | тВ╣ 26,99,838 | тВ╣ 26,99,838 | тВ╣ 24,29,854 |
| Year 19 | тВ╣ 15,85,560 | тВ╣ 29,86,047 | тВ╣ 29,86,047 | тВ╣ 26,87,442 |
| Year 20 | тВ╣ 16,12,560 | тВ╣ 33,00,000 | тВ╣ 33,00,000 | тВ╣ 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) | тВ╣2,00,000 | No Upper Limit (Subject to underwriting) |
| Guaranteed Addition (GA) | тВ╣60 per тВ╣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 тВ╣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 тВ╣59.39 lakh crore and Section 37 Sovereign Guarantee.