Life Insurance Corporation of India (LIC) offers one of its popular plans known as the LIC Bima Jyoti Plan 760. This plan combines the benefits of insurance with assured savings and is ideal for anyone looking for a dependable financial product.

What is LIC Bima Jyoti Plan 760?

The LIC Bima Jyoti Plan 760 is a non-linked, non-participating endowment plan, which means it does not involve market-linked investments and does not pay dividends. It offers a combination of savings and life insurance protection, specially designed for families seeking financial security with guaranteed returns.

Key highlights include:

• Limited premium paying term: You pay premiums for a few years (5 years less than policy term).
• Policy term options: 15 or 20 years.
• Age eligibility: Entry age starts from 30 days to 60 years.
• Sum Assured minimum: ₹1,25,000 and multiples of ₹25,000 thereafter.
• Maturity age: Minimum 18 years and maximum 65 years.

The plan provides guaranteed additions on the sum assured every year, which increases the maturity amount.

Features and Benefits of LIC Bima Jyoti Plan 760

Understanding the benefits of the Bima Jyoti Plan helps customers see the value of their investment.

Insurance Coverage with Guaranteed Returns

• Death Benefit: In case of unfortunate death during the policy term, the nominee gets 125% of the Sum Assured plus guaranteed additions.
• Maturity Benefit: On policy maturity, the policyholder receives the Sum Assured plus accumulated guaranteed additions.
• Guaranteed Additions: Rs 50 per thousand of Sum Assured is added every year across the full policy term.

Flexible Premium Payment Modes

Premiums can be paid:

• Yearly
• Half-Yearly
• Quarterly
• Monthly via NACH (automated clearing system)

The limited premium paying term means you pay premiums for fewer years than the policy duration, making it convenient and cost-effective.

Additional Benefits

• Loan Facility: A loan can be availed against the policy after payment of at least one full premium.
• Surrender Value: Policyholders can surrender after two years and get a guaranteed surrender value.
• Tax Benefits: Premiums paid are eligible for tax deductions under Section 80C, and maturity proceeds are exempt under Section 10(10D) of the Income Tax Act.
• Riders: Optional riders like the Accidental Death & Disability Rider can be added for extra protection.

How Does the LIC Bima Jyoti Plan 760 Calculator Work?

The LIC Bima Jyoti Plan 760 Calculator is an online tool to estimate your premium payments and maturity benefits based on personal details and chosen policy parameters.

Inputs Needed for the Calculator

• Age of the proposer
• Sum Assured (Minimum ₹1.25 lakh)
• Policy Term (15 or 20 years)
• Premium Paying Term (Usually 5 years less than policy term)
• Premium Payment Mode (Yearly, Half-Yearly, Quarterly, Monthly)

What the Calculator Provides

• Estimated premium amount payable according to chosen inputs.
• Cumulative guaranteed additions.
• Expected maturity value.
• Possible surrender value after certain years.
• Available subsidies or rebates based on premium size or payment mode.

This calculator simplifies your planning by showing estimated figures that help you decide the right coverage and term based on your budget.

Step-by-Step Guide to Using the LIC Bima Jyoti Plan 760 Calculator

1. Visit the LIC official website or trusted insurance portals offering the calculator.
2. Enter your age (older birthday on policy start).
3. Choose the sum assured. Remember the minimum is ₹1.25 lakh, and it has to be in multiples of ₹25,000.
4. Select the policy term (15 or 20 years).
5. The premium paying term usually comes automatically as the policy term minus 5 years.
6. Choose your preferred premium payment mode.
7. Click on “Calculate” to get an estimate of the premium amount, maturity benefits, and surrender value.
8. Use the results to analyze if the plan suits your financial needs.

Tips For Accurate Calculation

• Always consider any discount or rebate offered on a large sum assured or certain premium modes.
• Remember GST is applicable on premiums; first year GST is around 4.5%, and 2.25% in following years.
• The actual premium can slightly differ due to underwriting conditions or taxes.

For official premium calculation, always cross-verify with LIC’s official tools or agents.

Why Choose LIC Bima Jyoti Plan 760?

The plan stands out due to its:

• Balance between savings and insurance protection.
• Guaranteed returns, regardless of market fluctuations.
• Limited premium payment making it affordable.
• Flexibility of modes of payment suiting different financial situations.
• Additional financial support through loans and riders.
• Credibility of LIC, one of India’s largest and most trusted insurers.

This plan is ideal for families wanting to ensure long-term financial security, a secure retirement corpus, or goal-based savings like child education or marriage.

Sample Illustration of LIC Bima Jyoti Plan 760

Consider a person aged 30 years opting for a sum assured of ₹1,25,000 with a policy term of 20 years.

• Premium Paying Term: 15 years (20 – 5)
• Yearly Premium: Approximately ₹10,535 (including GST)
• Guaranteed Additions: Rs 50 per thousand SA, yearly
• Maturity Benefit: Sum Assured + Accumulated Guaranteed Additions
• Death Benefit: 125% of Sum Assured + Accumulated Guaranteed Additions

Over 20 years, this accrual ensures a secure corpus with a combination of protection and savings.

How to Buy LIC Bima Jyoti Plan 760?

The plan can be purchased:

• Online: Via LIC’s official website where the process is paperless and quick.
• Offline: Through LIC agents or branches.
• You can also rely on trusted insurance websites and aggregators to compare and buy.

Before buying, use the LIC Bima Jyoti Plan 760 Calculator to understand the premium and benefits clearly. Don’t hesitate to consult an LIC agent for personalized advice.

FAQs About LIC Bima Jyoti Plan 760 Calculator

Conclusion

The LIC Bima Jyoti Plan 760 is a dependable and straightforward saving and insurance plan, offering guaranteed returns, limited premium payment, and life cover. Using the LIC Bima Jyoti Plan 760 Calculator helps in planning and understanding the financial commitment and expected benefits before you invest.