LIC Bima Jyoti Premium Calculator (760)

The LIC Bima Jyoti Plan 760 is LIC most popular guaranteed savings plans. To make premium calculation easier, we have developed an online LIC Bima Jyoti Premium Calculator (760) , which are online tool that helps to estimate your annual, half-yearly, quarterly, or monthly premium.

Why Use LIC Bima Jyoti Premium Calculator?

There are many reason due to which you have to use this calculator.

1. Instantly Calculate Premiums (First-Year & Second-Year)- This calculator will shows you exact premium in which you know exactly how much you pay at each stage. This will help you from guesswork and ensures transparency right from the start.
2. GST Included Automatically
   under this calculator All calculations include the correct GST of 0% percentages, so you get exact amount need to pay—no hidden surprises or manual maths for taxes.
3. Compare All Payment Modes Easily
   With a single click, you can see what is your premium would be whether you choose to pay yearly, half-yearly, quarterly, or monthly.
4. Plan Your Budget Confidently
   if you get the year-wise premium and maturity payout instantly, then you know that the plan is fits for both your short-term and long-term budget. This helps you make decisions without visiting the branch or meeting an agent.

What Details Are Required in the Calculator

To calculate your premium, you need to enter some important information for best result.

1. Basic Sum Assured (BSA): Minimum ₹1,25,000 and multiples of ₹25,000.
2. Age at Entry: Your current age when buying the policy.
3. Policy Term: Between 15 to 20 years.
4. Premium Paying Term (PPT): Policy Term – 5 years.
5. Payment Mode: Choose Yearly, Half-Yearly, Quarterly, or Monthly.

Formula for LIC Bima Jyoti Premium Calculation

The premium in LIC policies is generally calculated using the following formula:
Premium=(Sum Assured×Rate of Premium (per ₹1000 BSA))+GST

Where:

1. Sum Assured (BSA): The insurance cover chosen (e.g., ₹5,00,000).
2. Rate of Premium (per ₹1000 BSA): Depends on the policyholder’s age, policy term, and the plan type (taken from LIC rate charts).
3. GST: Now GST at all premium is 0 % for all life insurance policies.

Real-life Example Using Formula

If Rajesh (Age 30) takes LIC Bima Jyoti Plan with ₹5,00,000 Sum Assured and the rate is ₹100 per ₹1000 BSA annually, then:

Premium (before GST) =1000₹5,00,000​×₹100=₹50,000

• First-Year Premium with GST (0%) = ₹50,000 + (₹50,000 × 0%) = ₹50,000
• Second-Year Premium with GST (0%) = ₹50,000 + (₹50,000 × 0%) = ₹50,000

First Year Premium (with GST @ 0%)

Second Year Premium (with GST @ 0%)