LIC Group Benefits Secure Plan Calculator

LIC Group Benefits Secure Plan Calculator is a simple estimation tool that helps employers, trustees, and HR teams understand how much they may need to contribute and what benefit value can accumulate under LIC’s new Group Benefits Secure Plan.

This plan is a Non-Par, Non-Linked, Group, Savings product announced for launch on 16 February 2026, and as of now no official withdrawal date has been declared in public disclosures.

What Is LIC Group Benefits Secure Plan?

LIC’s Group Benefits Secure Plan is a group savings-oriented life insurance product designed mainly for employers, institutions, and trustees to manage long‑term employee benefit liabilities. It aims to combine life cover at group level with a fund-building structure so that organisations can meet obligations like gratuity, leave encashment, or other similar benefits in a systematic way.

This plan has been categorised in official communication as a Non-Participating (Non‑Par), Non-Linked, Group, Savings plan meant only for the domestic Indian market. “Non-Par” means members do not get bonuses linked to LIC’s profits, and “Non‑Linked” means benefits are not directly linked to market investments such as equity funds.

• Product type: Group savings life insurance (employer or institutional group).
• Market: Domestic India only, no international distribution at launch.
• Launch date: 16 February 2026, as disclosed to stock exchanges under SEBI LODR Regulation 30.
• Withdrawal date: Not mentioned as withdrawn in any public notice; it is not listed among withdrawn group products as of now.

For general information about LIC’s group schemes portfolio, you can refer to the official LIC Group Schemes page: https://licindia.in/group-schemes

Why a Calculator Is Important for This Plan

Because this is a group savings product, an employer or trust usually deals with many members and changing liabilities over time. A dedicated LIC Group Benefits Secure Plan Calculator helps estimate:

• How much total annual or one-time contribution might be required for the scheme.
• Possible fund or benefit value after a certain number of years, based on assumed interest or crediting rate.
• Approximate life cover cost (mortality charge) as part of the total contribution.
• Impact of adding or removing members on total fund requirement over time.

Group savings plans from other insurers (for example, Pramerica Life Group Secured Employee Benefit Plan) show a similar structure, where contributions go into a policy account and earn a declared interest rate, and there is an assured minimum benefit (e.g., 101% of contributions minus charges). While LIC’s detailed formula for this new plan is not yet publicly available, the calculator can follow the same fund accumulation logic with assumptions until LIC releases an official brochure.

Key Features of LIC’s Group Benefits Secure Plan

Public disclosures at this stage are high-level, but they still give some important facts about the product.

• Category: Non-Par, Non-Linked, Group, Savings.
• Target customers: Employers, institutions, registered societies, and trusts that want to fund employee benefits through a formal arrangement.
• Objective: Build a pool of money (fund) through regular or single contributions, while providing group life cover.
• Domestic-only: Plan is specifically approved for the Indian domestic market.

From the structure of other group savings plans in the market, like Pramerica’s Group Secured Employee Benefit Plan, we can reasonably expect that:

• Contributions are maintained in a policy account with separate “tranches” for each contribution period.
• Each tranche may earn an interest rate declared periodically for the chosen period.
• A minimum assured benefit could be expressed as a percentage (e.g., at least 101% of all contributions less charges) at the end of a specified period.

The exact interest crediting rules, assured benefits, and mortality charges for LIC’s Group Benefits Secure Plan will only be confirmed once LIC publishes the official sales brochure or policy document for this specific plan.

What Is a LIC Group Benefits Secure Plan Calculator?

A LIC Group Benefits Secure Plan Calculator is an online or offline tool that helps employers estimate how the plan may work for their group before they request an official quote from LIC. It is not an official premium calculator from LIC, but a support tool used by agents, consultants, or HR teams for planning.

Typically, such a calculator will:

• Take inputs related to the group members and expected benefits.
• Apply a basic mathematical model for fund growth and mortality charges.
• Show the estimated yearly premium (total contributions) and projected fund/benefit values.
• Allow changes in assumptions (interest rate, benefit growth, member count) so that employers can compare scenarios.

Because detailed formulas for LIC’s Group Benefits Secure Plan are not yet public, any calculator you create should clearly show a disclaimer that values are indicative and that final premium and benefits will be as per LIC’s official quote and policy terms.

Main Inputs Used in the Calculator

A practical LIC Group Benefits Secure Plan Calculator for employers will generally ask for the following inputs:

1. Basic group details
   • Number of members.
   • Average age or age band of members.
   • Type of benefit (gratuity, leave encashment, other long-term benefit).
     These are similar to what existing group savings products demand when employers request a quote.
2. Contribution details
   • Contribution mode: yearly, half-yearly, quarterly, monthly, or single.
   • Expected yearly contribution amount or per-member contribution.
   • Expected tenure for which contributions are planned (e.g., 5, 10, 15 years).
     In other group savings plans, each contribution is considered a separate tranche with its own specified period.
3. Benefit and fund assumptions
   • Expected annual rate of return or interest crediting rate (for estimation only).
   • Mortality charge or life cover cost as a percentage of contributions or per 1,000 sum assured (this will be approximate until LIC publishes rate tables).
   • Expected annual increase in salary or benefit liability, if the employer wants to simulate future obligations.
4. Life cover details
   Even in group savings plans, there is usually a fixed or formula-based life cover per member. For example, Pramerica Life’s group savings plan provides a fixed sum assured of 10,000 per member (except superannuation schemes). LIC’s exact life cover rules for this plan will be available after the brochure is released.

How the Calculator Estimates Yearly Premium and Fund Value

Because official detailed calculations are not yet public, most calculators use a simplified but logical approach based on how group savings products typically work. A common approach is:

1. Start with the total contribution for the year.
2. Deduct an approximate mortality charge for life cover.
3. Apply assumed interest rate to the remaining fund for the year.
4. Repeat the same process for each subsequent year, adding new contributions and interest.

Simple Illustration (Conceptual Only)

Suppose an employer wants to contribute ₹10,00,000 each year for 10 years for 50 employees, and they assume:

• Mortality charge: 1% of yearly contribution (just a working example).
• Interest / crediting rate: 6% per year (assumption).

Conceptually, the calculator may do:

• Year 1: Contribution ₹10,00,000 – Mortality charge ₹10,000 = Net contribution ₹9,90,000, end-of-year fund ≈ ₹9,90,000 × 1.06.
• Year 2: Add new net contribution, apply interest on total fund, and continue until year 10.

This style mirrors the policy account structure described in other non-linked, non-participating group savings plans. Actual LIC values may differ significantly once official interest rates and charges are declared.

Example Table: Basic Calculator Inputs and Outputs

The table below shows a sample structure of how an online calculator might present estimated values (illustration only, not official LIC data).

Such a structure helps HR teams quickly understand the impact of different contribution levels and interest assumptions on the projected fund.

Launch Date and Withdrawal Status

From multiple independent news and disclosure sources, LIC’s Group Benefits Secure Plan has been announced with the following key dates and status:

• Launch date: 16 February 2026.
• Announcement mode: Regulatory disclosures filed with BSE and NSE under SEBI (LODR) Regulation 30.
• Withdraw date: As of February 2026, there is no public notice showing that this plan has been withdrawn or closed.

To verify the current status at any time, you can:

• Check LIC’s group schemes section: https://licindia.in/group-schemes.
• Check LIC’s general insurance-plan listing: https://licindia.in/insurance-plan.
• Review LIC’s official PDF brochures when they become available under “Sales Brochure” or product documents.

How Employers and HR Can Use the Calculator

A LIC Group Benefits Secure Plan Calculator is especially useful at the planning and discussion stage. Employers and HR managers can use it to:

• Decide whether to adopt a group savings structure for gratuity, leave encashment, or similar benefits.
• Compare different contribution strategies: higher contribution for shorter duration vs lower contribution for longer duration.
• Understand possible fund size under reasonable assumptions before taking a final decision.
• Discuss more confidently with LIC agents or corporate channel representatives.

Because group savings liabilities usually grow with salary and years of service, a calculator can also be extended to include salary growth rate and average remaining service years of employees. That allows a more realistic view of how large the future benefit liability could become.

Sample Table: Typical Use Cases for the Calculator

These examples follow how group savings plans are typically used in the Indian market, even if LIC’s final detailed rules for the new plan are yet to be published.

Frequently Asked Questions (FAQ)

Conclusion

LIC Group Benefits Secure Plan is a new Non-Par, Non-Linked, Group, Savings product scheduled to launch on 16 February 2026 for the Indian domestic market, aimed at helping employers and institutions systematically manage long-term employee benefit liabilities.

A LIC Group Benefits Secure Plan Calculator gives a simple way to estimate yearly contributions and potential fund values using reasonable assumptions, even though LIC’s exact calculation rules for this plan are still to be released officially.