Pays the rider SA on accidental death; on permanent disability, pays the SA in monthly instalments over 10 years and waives all future premiums.
Tick to add this rider — base premium stays unchanged until selected.
Calculators LIC plans Endowment
LIC Bima Lakshmi · Plan 881
Recent participating endowment with money-back-style payouts.
Asymmetrica · LIC plan report
LIC Bima Lakshmi · Plan 881
Generated 28 May 2026
In short
LIC Bima Lakshmi (Plan 881) is a recent participating endowment with money-back-style payouts — it returns a defined fraction of the sum assured at fixed intervals during the policy term while still paying a maturity lump sum and full death benefit. Structurally it is closer to Money Back than to a pure endowment, but is filed and rated as endowment because the participating bonus mechanics are inherited. Originally pitched as a women-centric plan in industry coverage, the policy is open to all eligible buyers.
Default scenario at a glance
Numbers below are computed from the latest declared bonus rate (₹45/1000 SA/yr) for a 30-year-old buying ₹5 lakh sum assured for 16 years (PPT 16). Use the calculator below to change any input.
- Annual premium
- ₹40,000
- Total premiums (over PPT)
- ₹6,40,000
- Maturity value i
- ₹9,10,000
- Implicit XIRR i
- 4.0%
- Net gain over premiums
- ₹2,70,000
- Final additional bonus (FAB) i
- ₹50,000
All figures above use LIC's last declared bonus and FAB rates. Bonus rates are reviewed by LIC each year and are not guaranteed for the future — your actual maturity payout may be higher or lower.
Want to verify the XIRR against your actual premium dates? Enter your premiums in the XIRR calculator →
Year-by-year projection (16 years) — show table
| Year | Cumulative premiums | Vested bonus | Death benefit (if claim this year) |
|---|---|---|---|
| 1 | ₹40,000 | ₹22,500 | ₹5,22,500 |
| 2 | ₹80,000 | ₹45,000 | ₹5,45,000 |
| 3 | ₹1,20,000 | ₹67,500 | ₹5,67,500 |
| 4 | ₹1,60,000 | ₹90,000 | ₹5,90,000 |
| 5 | ₹2,00,000 | ₹1,12,500 | ₹6,12,500 |
| 6 | ₹2,40,000 | ₹1,35,000 | ₹6,35,000 |
| 7 | ₹2,80,000 | ₹1,57,500 | ₹6,57,500 |
| 8 | ₹3,20,000 | ₹1,80,000 | ₹6,80,000 |
| 9 | ₹3,60,000 | ₹2,02,500 | ₹7,02,500 |
| 10 | ₹4,00,000 | ₹2,25,000 | ₹7,25,000 |
| 11 | ₹4,40,000 | ₹2,47,500 | ₹7,47,500 |
| 12 | ₹4,80,000 | ₹2,70,000 | ₹7,70,000 |
| 13 | ₹5,20,000 | ₹2,92,500 | ₹7,92,500 |
| 14 | ₹5,60,000 | ₹3,15,000 | ₹8,15,000 |
| 15 | ₹6,00,000 | ₹3,37,500 | ₹8,37,500 |
| 16 | ₹6,40,000 | ₹3,60,000 | ₹8,60,000 |
Run the numbers
Premium, maturity, and the year-by-year cash value at the latest declared bonus rate. Toggle the 3-scenario view to see a pessimistic / base / optimistic spread.
Assumptions
- Age
- 30 yrs
- Sum assured
- ₹5,00,000
- Policy term
- 16 yrs
- Premium-paying term
- 13 yrs
- Premium frequency
- yearly
- Bonus scenario
- base (45/1000 SA)
yrs
₹
Policy term
Premium paying term
Premium frequency
Maturity at year 16
₹9,10,000
At base bonus rate (45/1000 SA)
Base annual premium
₹40,000
GST-free since 22 Sep 2025
Total paid (over 13 yrs)
₹5,20,000
Implicit XIRR
5.54%
Lower than NIFTY 50; that's expected.
Net gain
₹3,90,000
Maturity value and FAB use LIC's last declared bonus rates. These are reviewed each year and are not guaranteed for the future — actual payouts can be higher or lower.
Bonus assumption:
Optional Riders
Add-ons that increase cover for an extra annual premium—capped at 30% of the base premium. You can pick either ADDB or AB, not both.
0 / 6 active +₹0/yr
Pays the rider SA in lump sum on accidental death within 180 days. Death-only — no disability cover.
Tick to add this rider — base premium stays unchanged until selected.
Adds pure term life cover for a nominal premium. Inception-only — cannot be bolted on later.
Tick to add this rider — base premium stays unchanged until selected.
Waives all future base-policy premiums on death of the proposer. Designed for child plans (proposer = parent, life assured = minor).
Tick to add this rider — base premium stays unchanged until selected.
Lump sum payout on diagnosis of any covered critical illness. Choose between a 15-illness or 40-illness option. Inception-only.
Tick to add this rider — base premium stays unchanged until selected.
For female policyholders only. Covers female-specific illnesses, pregnancy complications and congenital anomalies in the child. Inception-only.
Tick to add this rider — base premium stays unchanged until selected.
Year-by-year cash value (illustrative) What does this mean?
| Year | Total paid | Estimated cash value |
|---|---|---|
| 1 | ₹40,000 | ₹22,500 |
| 2 | ₹80,000 | ₹45,000 |
| 3 | ₹1,20,000 | ₹67,500 |
| 4 | ₹1,60,000 | ₹90,000 |
| 5 | ₹2,00,000 | ₹1,12,500 |
| 6 | ₹2,40,000 | ₹1,35,000 |
| 7 | ₹2,80,000 | ₹1,57,500 |
| 8 | ₹3,20,000 | ₹1,80,000 |
| 9 | ₹3,60,000 | ₹2,02,500 |
| 10 | ₹4,00,000 | ₹2,25,000 |
| 11 | ₹4,40,000 | ₹2,47,500 |
| 12 | ₹4,80,000 | ₹2,70,000 |
| 13 | ₹5,20,000 | ₹2,92,500 |
| 14 | ₹5,20,000 | ₹3,15,000 |
| 15 | ₹5,20,000 | ₹3,37,500 |
| 16 | ₹5,20,000 | ₹9,10,000 |
Our take
Should you buy Bima Lakshmi?
Bima Lakshmi suits the buyer who values periodic liquidity over a single terminal lump sum — the survival benefit installments (typically a percentage of SA paid every 4–5 years) provide cashflow that can offset known life events (school admissions, vehicle replacement, modest home upgrades) without surrendering the policy. The trade-off is that the maturity lump sum is smaller than a pure endowment of equivalent premium because the survival benefits have already been paid out. Bonuses (SRB + FAB) continue to accrue on the original SA throughout the term and are paid in full at maturity, on top of the residual maturity SA. We are gathering the official tariff and survival-benefit schedule before publishing the calculator.
- Money-back style: returns a defined fraction of SA at fixed intervals during the policy term, offering periodic liquidity without surrendering.
- Participating: SRB + FAB accrue on the original SA throughout the policy term and are paid in full at maturity on top of the residual SA.
- Death benefit is the full original SA plus accrued bonuses, regardless of survival benefits already paid out — protection is not eroded by the periodic payouts.
- Subject to LIC's 2025 valuation SRB and FAB rates; the SA ≥ ₹5L slab attracts the higher ₹53/1000 SRB.
- Post-2024 surrender framework: more favourable than older money-back plans; G-Sec-benchmarked SSV with GSV available from year one.
- Calculator output is illustrative and currently models the residual lump sum only — the intermediate survival-benefit payouts during the policy term are not yet reflected in the headline maturity figure.
Asymmetrica isn't an insurance advisor. The opinions above are editorial; the numbers in the calculator are computed from the plan's own brochure. Read both, then decide.
Deep dives
More on Bima Lakshmi
-
Full review
Who it works for, who it doesn't, what tends to go wrong over the term, and how our take compares with other reviewers.
-
Surrender value
Year-by-year GSV vs SSV table for the default scenario, with plan-specific notes on when exiting actually breaks even.
-
Tax treatment
§80C eligibility, §10(10D) maturity exemption, the 10× SA rule, and how each clause applies to a typical buyer of this plan.
Plan reference
Eligibility & limits
- Category
- Endowment
- UIN / plan number
- 881
- Plan status
- Active for sale
- Snapshot date
- 26 Apr 2026
Entry age, term and sum-assured bands are on the official plan page; we'll mirror them here once the per-plan facts are extracted.
Paid-up value
Stop premiums after at least 2 full years and the policy stays in force as a paid-up policy at a reduced sum assured. Already-vested bonuses are preserved; no new bonuses accrue.
Policy loan
Once the policy has a surrender value (typically year 3), you can borrow up to 90% of it from LIC at the prevailing policy-loan rate — short-term liquidity without giving up the policy's bonuses.
Sources
Last updated · site changelog