In short (tl;dr)
Bima Jyoti credits a contractual ₹50 per ₹1000 every year in place of a declared bonus, so the maturity value is fixed when the policy is issued.
About LIC Bima Jyoti
Bima Jyoti (Plan 860) is a non-participating limited premium endowment. Instead of a reversionary bonus that LIC declares each year and can change, the policy credits a Guaranteed Addition of ₹50 per ₹1000 of Basic Sum Assured at the end of every policy year, for the whole term. That addition is written into the contract.
The arithmetic is therefore fixed the day the policy is issued. A 20-year Bima Jyoti accrues ₹1,000 of guaranteed addition per ₹1000 of sum assured, so the maturity value is exactly twice the sum assured. A 15-year term accrues ₹750 per ₹1000, giving 1.75 times.
Premiums are payable for five years less than the term, so a 20-year policy is funded over 15 years. What you give up in exchange for the certainty is upside: a participating plan with a good bonus run and a Final Additional Bonus can end up ahead over a long term.
Key features
- Guaranteed Addition of ₹50 per ₹1000 sum assured every policy year
- Maturity value known with certainty when the policy is issued
- Non-participating, so no dependence on LIC's annual bonus declaration
- Premiums payable for five years less than the policy term
- Entry age from 90 days, so it can be written on a child's life
Bima Jyoti at a glance
- Plan number
- 860
- Category
- Endowment
- Entry age
- 0 to 60 years
- Policy term
- 15 to 20 years
- Premium paying term
- Policy term minus 5 years
- Sum assured
- ₹1 Lakh and above
- Maximum maturity age
- 75 years
- UIN
- 512N339V02
LIC publishes a page for this plan. It does not state the plan number or UIN on the page itself, so treat those two rows here as unconfirmed. Check it on licindia.in
Benefits under Bima Jyoti
Death benefit
Sum Assured on Death — the higher of 125% of the Basic Sum Assured and 7 times the annualised premium, never less than 105% of premiums paid — plus the Guaranteed Additions accrued to the date of death.
Maturity benefit
Basic Sum Assured plus the Guaranteed Additions accrued over the full policy term. Nothing is estimated: the amount is contractual.
Who it suits
Anyone who would rather have a smaller number they can count on than a larger one that depends on a bonus declaration.
What to watch out for
Guaranteed does not mean high. Work out the internal rate of return on the projection below and compare it against a PPF or a long-dated government security before committing.
How this calculator works
Bima Jyoti is priced here on its own parameters, not a generic formula. We build the plan's full cash-flow schedule — the death benefit in each policy year, every survival payout, and the maturity value — and discount it on a basis calibrated to a reference premium for this plan. That reference is checked two ways: against LIC's published tabular rate, and against the return the plan's own benefits imply for the policyholder.
- Reference premium
- ₹75.50 per ₹1,000 at age 30, 20-year term, 15-year premium term
- Discount basis
- 5.24% a year, on LIC (2012-14) Ultimate mortality
- Guaranteed additions
- ₹50 per ₹1,000 from year 1 onwards
- GST
- Nil. Individual life insurance premiums have been exempt from GST since 22 September 2025, so the instalments shown are what you actually pay.
Bonus rates are declared annually and are not guaranteed; only the sum assured and any contractual guaranteed additions are. Read our editorial and methodology policyfor the full basis, and confirm every figure with LIC before you buy.
Check the source:Bima Jyoti on licindia.inLIC valuation and bonus declarationsIRDAI regulations
What this premium does not include
The figure above is the premium for the base policy. LIC allows 4 optional riders on Bima Jyoti, each a separate contract with its own sum assured, term and premium. Take one and you pay more than the figure above — the base premium itself does not change.
- LIC's Accidental Death and Disability Benefit Rider (AD & DB Rider)UIN 512B209V02
- LIC's Accident Benefit Rider (AB Rider)UIN 512B203V03
- LIC's New Term Assurance Rider (Term Rider)UIN 512B210V02
- LIC's Premium Waiver Benefit Rider (PWB Rider)UIN 512B204V04
Premiums for all the life insurance riders put together cannot exceed 30% of the premium under the base plan. That cap is the useful number to hold an agent to: whatever riders are proposed, the total should stay inside it.
Why we do not price them. A rider premium follows from the rider's own sum assured and term, so it cannot be worked out from a tick-box — and LIC does not publish rider rates in the plan brochure, which tells you to read the rider brochure or ask a branch. We would rather name the riders and their UINs, which you can check, than show a number we cannot source.
Source: Bima Jyoti sales brochure (PDF), Optional Rider Benefits clause.
LIC Bima Jyoti — frequently asked questions
What is the guaranteed addition in Bima Jyoti?
₹50 per ₹1000 of Basic Sum Assured at the end of each policy year, for the whole policy term. On a ₹5 lakh sum assured that is ₹25,000 credited every year.
What will I get at maturity in Bima Jyoti for ₹5 lakh?
For a 20-year term, ₹5 lakh sum assured plus ₹5 lakh of guaranteed additions — ₹10 lakh exactly. For a 15-year term, ₹5 lakh plus ₹3.75 lakh, or ₹8.75 lakh. These are contractual, not projections.
Is Bima Jyoti better than Jeevan Anand?
Bima Jyoti is certain; Jeevan Anand is participating and, on current bonus rates over a long term, usually projects higher. If bonus rates hold, Jeevan Anand wins on a 25-year view. If they fall, Bima Jyoti's contractual addition protects you. Bima Jyoti also has the shorter premium paying term.
What are the term options in Bima Jyoti?
15 to 20 years, with premiums payable for five years less — so 15/10, 16/11, 17/12, 18/13, 19/14 or 20/15.
Related calculators
Plans people usually weigh up against Bima Jyoti before deciding.
Jeevan Azad
No. 868Short premium term, guaranteed maturity equal to the sum assured.
Open calculatorBima Ratna
No. 864Guaranteed additions that step up over time, plus two payouts before maturity.
Open calculatorNew Endowment Plan
No. 714LIC's plainest savings-and-cover contract, and its cheapest endowment.
Open calculatorNew Jeevan Anand
No. 715Endowment savings that keeps paying life cover after the policy matures.
Open calculator