LIC Bima Lakshmi Plan 881 Calculator
Women-Oriented Savings & Protection Plan with Guaranteed Benefits
📅 Launch Date: October 15, 2025
👩 Exclusively for Women
Plan Highlights
- ✓ Policy Term: 25 Years (Fixed)
- ✓ Premium Paying Term: 7 to 15 Years
- ✓ Minimum Sum Assured: ₹2,00,000
- ✓ Entry Age: 18-50 Years
- ✓ Guaranteed Additions: 7% of Annual Premium
- ✓ Three Survival Benefit Options Available
Your Policy Details
Survival Benefit Schedule (Selected Option: )
The Life Insurance Corporation of India (LIC) launched the LIC Bima Lakshmi Plan (Plan Number 881) on October 15, 2025. This plan is designed exclusively for women, combining savings with protection and offering guaranteed returns along with life cover. It is a non-linked, non-participating, limited premium money-back plan that provides attractive survival benefits and a unique critical illness rider tailored for women.
Launch and Withdrawal Dates
- Launch Date: October 15, 2025
- Withdrawal Date: No official withdrawal date announced yet; plan available for purchase currently
Who Can Buy LIC Bima Lakshmi Plan 881?
LIC Bima Lakshmi 881 is exclusively available for female lives, including minor girls (for whom the policy is held by a guardian until the life assured reaches age 18). The eligibility criteria are:
- Minimum entry age: 18 years (completed)
- Maximum entry age: 50 years (depending on premium paying term)
- Policy term fixed at 25 years
- Premium paying term selectable between 7 to 15 years
- Minimum sum assured: ₹2,00,000 (in multiples of ₹10,000)
- No maximum sum assured limit, subject to underwriting
Key Features of LIC Bima Lakshmi Plan 881
This plan is tailor-made for women with the goal of financial security, wealth accumulation, and protection. Some standout features include:
- Non-linked, non-participating plan: The plan offers guaranteed benefits without market-linked risks nor bonuses.
- Fixed policy term: 25 years policy tenure with flexible premium paying tenure (7 to 15 years).
- Guaranteed Additions: Accrued annually at 7% of the total tabular annual premium for in-force policies. Paid-up policies earn a proportionate amount.
- Survival Benefits: Choose from three payout options (A, B, or C) that determine the pattern of money-back survival benefits during the policy term.
- Life Cover: Death benefit payable during the policy term ensuring financial protection for the family.
- Female Critical Illness Rider: This optional rider covers select critical illnesses affecting women, providing additional protection.
- Auto Cover Facility: Life cover continues for two years after premium default if 3 full years of premiums are paid.
- Option to Defer Survival Benefits: Survival benefits scheduled for periodic payouts can be deferred with an additional guaranteed return.
- Loan Facility: Available after payment of at least one full year’s premium with prevailing interest rates.
- Surrender and Paid-up Value: Available after minimum qualifying years.
Benefits of LIC Bima Lakshmi Plan 881
Guaranteed Survival Benefits
The plan provides periodic survival benefits that give assured payouts during the policy term, as chosen by the policyholder:
- Option A: Survival benefits paid at the end of the premium paying term.
- Option B: Survival benefits paid at regular intervals starting from the end of the premium paying term till maturity.
- Option C: Survival benefits paid at regular intervals throughout the policy term.
The total amount of survival benefits differs based on the option selected and the sum assured.
Maturity Benefits
On maturity (end of 25 years), the policyholder receives:
- Sum Assured on maturity
- Guaranteed Additions accrued throughout the policy term
- Any survival benefits deferred (if chosen)
Life Cover and Death Benefits
In case of the untimely death of the life assured during the policy term, the nominee receives:
- Sum Assured on death (higher of 10 times the annual premium or basic sum assured)
- Accrued Guaranteed Additions
- Survival benefits payable immediately
Female Critical Illness Rider
This rider provides financial support in case of critical illnesses affecting women such as breast cancer, uterine cancer, and other specified conditions. The rider is optional and can be added by paying an additional premium.
Flexibility in Premium Payment
Policyholders can select the premium payment term from 7 to 15 years, with premium payment modes including yearly, half-yearly, quarterly, and monthly via ECS/NACH.
Tax Benefits
Premiums paid under this plan are eligible for deduction under Section 80C of the Income Tax Act, and maturity/death proceeds may be exempt under Section 10(10D), subject to applicable laws.
How to Use LIC Bima Lakshmi Plan 881 Calculator?
Calculating the premium and benefits under the LIC Bima Lakshmi Plan 881 can be done efficiently using an online calculator, which factors in variables like age, sum assured, premium payment term, and option selection. Here’s how to use the calculator:
Enter Basic Details
- Age of the life assured (must be female)
- Sum assured desired (minimum ₹2,00,000)
- Premium Payment Term (7 to 15 years)
- Survival benefit option (A, B, or C)
Calculate Premium
Based on the sum assured and premium term, the calculator provides the annual premium payable along with other modes like monthly or quarterly premium.
Project Benefits
The calculator estimates survival benefits payable at intervals based on the option selected, maturity value inclusive of guaranteed additions, death benefits, and potential returns from the female critical illness rider if opted.
Review Policy Summary
The calculator generates a full policy summary including:
- Total premiums paid
- Total guaranteed addition accrued
- Survival benefit payout schedule
- Maturity proceeds
Several websites like LIC India’s official site and third-party insurance portals offer free LIC Bima Lakshmi calculators for quick estimations LIC India
Example Illustration
Suppose Mrs. Lakshmi, aged 35, chooses Option C with a premium paying term of 7 years and a Basic Sum Assured (BSA) of ₹10,00,000. Based on illustrative data:
- Annual premium might be approximately ₹2,72,350.
- Total survival benefits over the policy term could amount to ₹9,00,000.
- Guaranteed additions might accrue to around ₹54,04,786.
- Maturity benefit (BSA + Guaranteed Addition) could be ₹64,04,786.
- Total benefits (including survival benefits) can reach about ₹73,04,786.
Eligibility and Restrictions Summary
| Parameter | Details |
|---|---|
| Plan Type | Non-linked, non-participating, women-only, limited premium money-back |
| Minimum Sum Assured | ₹2,00,000 |
| Maximum Sum Assured | No upper limit subject to underwriting |
| Policy Term | 25 years fixed |
| Premium Paying Term | 7 to 15 years |
| Entry Age (Life Assured) | 18 to 50 years |
| Maximum Maturity Age | Up to 75 years |
| Mode of Premium Payment | Yearly, half-yearly, quarterly, monthly (ECS/NACH) |
| Eligible Lives | Female lives only including minors |
| Loan Facility | Available after 1 full year’s premium |
| Surrender Value | After 2 full years of premium payments |
| Auto Cover | Available after 3 full years’ premium |
| Female Critical Illness Rider | Optional with 3 profiles, max ₹5 lakh benefit |
| Participation in Bonuses | No bonuses; plan provides guaranteed additions only |
How Is LIC Bima Lakshmi Different from Other LIC Plans?
| Feature | Bima Lakshmi Plan 881 | Jeevan Labh (Plan 936) | Bima Jyoti (Plan 860) |
|---|---|---|---|
| Plan Type | Guaranteed Money-Back + Guaranteed Additions | Participating Endowment Plan | Guaranteed Additions Plan |
| Target Audience | Women only | General Public | General Public |
| Survival Benefits | Multiple options (A/B/C) | Single maturity benefit | Single maturity benefit |
| Critical Illness Rider | Female-specific rider available | No | No |
| Premium Payment Term | 7 to 15 years | Fixed (varies) | Fixed (varies) |
| Policy Term | 25 years fixed | Varies | Varies |
Advantages of LIC Bima Lakshmi Plan 881
- Designed exclusively for women, with a focus on empowerment and financial security
- Offers guaranteed returns with no market risks, providing peace of mind
- Flexible premium payment terms fitting different income flows
- Unique Female Critical Illness Rider for enhanced health protection
- Auto cover facility provides continued cover during premium defaults
- Option to defer survival benefits suits long-term financial planning
- Tax benefits under prevailing laws
Considerations Before Buying
- The plan is exclusively for women; men are not eligible.
- No bonuses apart from guaranteed additions, so growth is steady but not linked to market performance.
- Survival benefits pay out periodically and may be deferred, which should be planned carefully for cash flow.
- Riders involve additional premium costs.
- Understand the full premium and maturity schedule using the official LIC calculator or agent advice.
Where to Buy LIC Bima Lakshmi Plan 881?
You can buy the LIC Bima Lakshmi Plan 881:
- Online on the official LIC India website LIC India Official
- Through authorized LIC agents and branches
- Via insurance intermediaries and portals providing LIC policy sales
Frequently Asked Questions
What is LIC Bima Lakshmi Plan 881?
LIC Bima Lakshmi Plan 881 is a non-linked, non-participating limited premium money-back insurance plan exclusively for women. It offers guaranteed survival benefits, life cover, and an optional female critical illness rider for comprehensive financial protection.
Who is eligible to buy LIC Bima Lakshmi Plan 881?
This plan is available only for female lives aged between 18 and 50 years at entry. It can also be purchased for minor girls by their guardians. The policy term is fixed at 25 years.
What is the minimum sum assured for this plan?
The minimum basic sum assured (BSA) is ₹2,00,000. The sum assured can be chosen in multiples of ₹10,000.
What are the premium payment options available?
You can choose to pay premiums for 7 to 15 years. Premium payment modes include yearly, half-yearly, quarterly, and monthly via ECS/NACH.
Is there a critical illness cover in this plan?
Yes, an optional female critical illness rider is available, which covers specific critical illnesses such as breast cancer and uterine cancer, providing additional financial protection.
Can I avail of a loan against this policy?
Yes, loans are available after payment of at least one full year’s premium. The loan amount and interest will be as per LIC’s policy norms.
Are there any tax benefits under LIC Bima Lakshmi Plan 881?
Premiums paid qualify for tax deductions under Section 80C of the Income Tax Act, and maturity or death proceeds may be exempt under Section 10(10D), subject to applicable tax laws.
Conclusion
LIC Bima Lakshmi Plan 881 is a comprehensive insurance solution for women seeking to blend protection, savings, and assured returns. Its unique features like the Female Critical Illness Rider and flexible survival benefit options make it an ideal choice for women planning long-term financial security for themselves and their families. Using the LIC Bima Lakshmi Plan 881 calculator helps effectively evaluate premiums and expected returns, aiding in informed decision-making.