Formula
P = (T − R) × S / 1000
I = P × (1 + l) / f
T = A / (ä × (1 − λ))
where
- P
- annual premium
- T
- tabular premium per ₹1,000 of sum assured, for your age, term and premium paying term
- R
- high sum assured rebate, ₹ per ₹1,000: a percentage of T set by entry age and sum assured (nil on smaller policies)
- S
- Basic Sum Assured
- I
- each instalment
- l
- modal loading: nil yearly, 2% half-yearly
- f
- instalments a year: 1 or 2
- A
- present value, per ₹1,000 of sum assured, of everything the policy pays
- ä
- present value of ₹1 a year, paid at the start of each year of the premium paying term while you are alive
- λ
- expense loading, 27.25%
*Source LIC Bima Kavach brochure (PDF)
In short (tl;dr)
Bima Kavach is LIC's high-value pure term plan: ₹2 crore minimum, entry up to 65, and cover that can run to age 100. Sold through agents and online. Figures here are for a non-smoking man buying offline.
Worked example: at 30, ₹2,00,00,000 of cover over 20 years costs ₹19,000 a year for 20 years.
What is LIC Bima Kavach?
Bima Kavach (Plan 887) is a non-linked, non-participating pure risk plan. LIC pays the Sum Assured on Death if the life assured dies during the term with the policy in force; nothing is paid on survival.
The term can run from 10 years to 82 on regular premium, as long as cover ends by age 100, so a 30-year-old can insure for life in practice. Premiums can also be limited to 5, 10 or 15 years, or paid as one single premium.
On Level Sum Assured with regular premium, and for a standard life aged 40 or under at entry, the Life Stage Option lets the cover be raised without fresh medical underwriting: by 50% of the original sum assured on marriage (up to ₹2 crore) and by 25% on the birth of each of the first two children (up to ₹1 crore each). Each increase is priced at the age and outstanding term at the time, on the premium table in force when the policy was issued.
Buying online without an agent takes 7.5% off the tabular premium on regular and limited premium, and 3% on single premium. This calculator shows the rate before that rebate.
Key features
- Minimum Basic Sum Assured ₹2 crore, no maximum subject to underwriting
- Entry age 18 to 65 (over 60 case by case), cover up to age 100
- Level or Increasing Sum Assured
- Regular, single, or limited premium over 5, 10 or 15 years
- Life Stage Option to raise cover on marriage and the birth of a child
- Accident Benefit Rider on regular and limited premium
- 7.5% rebate for buying online without an intermediary
Bima Kavach at a glance
- Plan number
- 887
- Category
- Term Insurance
- Entry age
- 18 to 65 years
- Policy term
- 10 to 82 years
- Premium paying term
- Same as policy term on this calculator; LIC also sells 5, 10 or 15 years, or a single premium
- Sum assured
- ₹2 Crore and above
- Maximum maturity age
- 100 years
- UIN
- 512N360V01
We checked the plan number and UIN above against LIC's own page for this plan on 2026-10-02. Check it on licindia.in
What are the benefits of LIC Bima Kavach?
What does LIC Bima Kavach pay on death?
On regular and limited premium, the highest of 7 times the annualised premium, 105% of total premiums paid to the date of death (including any Life Stage Option premiums), and the absolute amount assured. On single premium, the higher of 125% of the single premium and the absolute amount assured. Under Level Sum Assured the absolute amount includes any Life Stage increases taken.
What do you get at maturity?
None. No maturity benefit, no paid-up value and no loan. A regular premium policy has no surrender value; single and limited premium policies may return an Unexpired Risk Premium Value.
Who is LIC Bima Kavach for?
Someone who needs ₹2 crore or more of cover, wants it to run past 75, or expects to need more cover after marriage or children and would rather not face medical underwriting again.
What should you watch out for?
For a 20-year term LIC's own printed rates make Bima Kavach dearer than Digi Term or Yuva Term at ₹2 crore. LIC prints sample premiums only for ages 20 to 40 on a 20-year term, so quotes for older entry ages and long terms rest on the model alone.
What does LIC Bima Kavach cost?
Worked out on a 20-year term with premiums paid for 20 years, for a non-smoking man. Change any of these in the calculator above for your own figures.
By sum assured, at age 30
| Sum assured | Premium a year | Total paid in |
|---|---|---|
| ₹2,00,00,000 | ₹19,000 | ₹3,80,000 |
| ₹4,00,00,000 | ₹37,145 | ₹7,42,900 |
| ₹10,00,00,000 | ₹91,200 | ₹18,24,000 |
Premiums are modelled on this plan's own tabular rates. This is a pure protection plan, so there is no maturity value.
By age, on ₹2,00,00,000 of cover
Sum assured moves the premium almost in a straight line, so the table above is easy to read across. Age does not, and it is the input people most often want to test before filling anything in.
| Age at entry | Premium a year | Total paid in |
|---|---|---|
| 25 years | ₹15,030 | ₹3,00,604 |
| 30 years | ₹19,000 | ₹3,80,000 |
| 40 years | ₹44,668 | ₹8,93,354 |
| 50 years | ₹1,34,178 | ₹26,83,553 |
Age moves this premium a long way: ₹15,030 at 25 becomes ₹1,34,178 at 50, 8.9 times as much. Most of it pays for the risk of dying during the term, and that risk climbs with age.
LIC's own sample premium, from the brochure
From the sourceNot modelled: this is the table LIC prints in its own brochure (Sales brochure, section 7 Sample Illustrative Premium, Option I (Level Sum Assured), regular premium, non-smoker male), at ₹2,00,00,000 of cover, the sum assured LIC chose to illustrate. Everywhere else on this page the premium is worked out for the sum assured you enter; here it is fixed at that figure, because that is what LIC published.
These figures are taken from the document linked below. Check them there.
| Age at entry | 20 years |
|---|---|
| 20 | ₹12,600 |
| 30 | ₹19,000 |
| 40 | ₹43,600 |
Priced on ₹2,00,00,000 of cover, exclusive of taxes, standard lives. Our own model is anchored on the age 30, 20-year term cell in this table; the other cells are the real test of the model, and the editorial and methodology policy publishes how far off they run.editorial and methodology policy publishes how far off they run.
Who can take LIC Bima Kavach?
Age to start
- Minimum
- 18 years
- Maximum
- 65 years
Policy term
- Minimum
- 10 years
- Maximum
- 82 years
Age when the policy matures
- Maximum
- 100 years
Your age at entry plus the policy term cannot come to more than 100.
Years you pay for
- Premium paying term
- Same as the policy term
Sum assured
- Minimum
- ₹2,00,00,000
- Maximum
- No limit set by LIC
LIC caps this by what underwriting allows rather than with a printed figure. This calculator accepts up to ₹40 Crore.
The calculator applies every limit above. LIC sets them out under "Eligibility Conditions and Other Restrictions" on page 3 of the Bima Kavach sales brochure, linked in the form above.
Tax on LIC Bima Kavach
Two provisions do the work, and both turn on the size of the premium rather than on the plan. The Income-tax Act, 2025 renumbered both from 1 April 2026 without changing the rules, so each is given here under its old number and its new one.
Section 80C, now Section 123, on what you pay in
Premiums count towards the ₹1.5 lakh limit, in the year they are paid, if you are on the old regime. The deduction is restricted where the annual premium is more than 10% of the sum assured.
Section 10(10D), now Schedule II, on what comes back
Maturity proceeds are exempt where the premium in every year stays inside 10% of the sum assured, and, for a policy issued on or after 1 April 2023, where the premiums on all such policies together stay inside ₹5 lakh a year. Death proceeds are exempt either way.
Where this policy sits
The ₹2,00,00,000 policy priced above costs ₹19,000 a year, which is 0.1% of the sum assured. That is inside the 10% test, on both provisions. A larger sum assured moves the ratio down.
GST
Nil. Individual life insurance premiums have been exempt since 22 September 2025, so the instalment the calculator shows is the amount that leaves your account.
None of this is tax advice. Which regime you are on, what else you hold and when the policy was issued all change the answer, so confirm your own position with a tax adviser before you rely on it.
How this calculator works
Bima Kavach is priced here on its own parameters, not a generic formula. We build the plan's full cash-flow schedule, meaning the death benefit in each policy year, every survival payout and the maturity value, then 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
- ₹0.95 per ₹1,000 at age 30, 20-year term, 20-year premium term
- Discount basis
- 7.28% a year, on LIC (2012-14) Ultimate mortality scaled to 55% for this plan's underwritten pool
- 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 Kavach on licindia.inLIC valuation and bonus declarationsIRDAI regulations
How LIC Bima Kavach compares
The plans people weigh this one against, and what separates each from it.
| Plan | Policy term | You pay for | Cover from | What is different |
|---|---|---|---|---|
| Bima KavachNo. 887 · this page | 10 to 82 years | The full term | ₹2 Crore | High-value term cover from ₹2 crore, running as long as age 100. |
| Digi TermNo. 876 | 15 to 40 years | The full term | ₹50 Lakh | LIC's online-only term plan for buyers aged 18 to 45, from ₹50 lakh of cover. |
| Yuva TermNo. 875 | 15 to 40 years | The full term | ₹50 Lakh | The agent-sold twin of Digi Term: ₹50 lakh and up of cover for ages 18 to 45. |
| New Tech-TermNo. 954 | 10 to 40 years | The full term | ₹50 Lakh | LIC's online term plan: level cover from ₹50 lakh, bought direct with no agent. |
| Jeevan RakshaNo. 894 | 15 to 42 years | The full term | ₹5 Lakh | LIC's small-cover term plan: ₹5 lakh to ₹24 lakh, cover to age 60. |
To price several of these against each other on the same age and sum assured, the LIC premium calculator runs every plan on the site through the same engine and puts the answers in one table.
LIC Bima Kavach: frequently asked questions
How much is LIC Bima Kavach for ₹2 crore?
LIC's brochure prints ₹12,600 a year at age 20, ₹19,000 at 30 and ₹43,600 at 40, for a 20-year term on regular premium, non-smoking man, before tax. Buying online takes 7.5% off.
Is Bima Kavach cheaper than Digi Term for ₹2 crore?
Not for a 20-year term on LIC's own figures. At age 30, Digi Term's tabular rate for ₹50 lakh is ₹4,700, or ₹18,800 for ₹2 crore, and its 30% rebate at that size brings it to ₹13,160. Bima Kavach at ₹2 crore is ₹19,000, or ₹17,575 online. What Bima Kavach adds is entry to 65, cover to 100, the Life Stage Option and the accident rider.
What is the Life Stage Option in Bima Kavach?
A right, chosen at purchase, to raise the sum assured without new medical tests: by 50% of the original on marriage, capped at ₹2 crore, and by 25% on the birth of each of the first two children, capped at ₹1 crore each. It is open on Level Sum Assured with regular premium, to standard lives aged 40 or under at entry, and each increase must be asked for within six months of the event. The life assured must be 45 or under on the policy anniversary the increase starts from.
How long can Bima Kavach cover last?
Until age 100. The policy term runs 10 to 82 years on regular premium, and the term chosen cannot take cover past 100.
What high sum assured rebate does Bima Kavach give?
Nil below ₹3 crore. Then a percentage of the tabular premium that falls with age: 2.25%, 3.5% and 4% from ₹3, ₹5 and ₹10 crore for entry ages 18 to 35, down to 1.25%, 2% and 2.5% from age 56.
Can I add a rider to Bima Kavach?
LIC's Accident Benefit Rider, on regular and limited premium, while at least five years of premiums remain and before age 65. It covers during the premium paying term or to age 70, whichever ends first, and its premium cannot exceed 30% of the base premium.
Spot something wrong?
If a figure on this page disagrees with an LIC premium notice, bonus statement or benefit illustration, tell us and we will check it against the brochure. Anything else you think this page gets wrong is just as welcome.
Related calculators
Plans people usually weigh up against Bima Kavach before deciding.
Digi Term
No. 876LIC's online-only term plan for buyers aged 18 to 45, from ₹50 lakh of cover.
Open calculatorYuva Term
No. 875The agent-sold twin of Digi Term: ₹50 lakh and up of cover for ages 18 to 45.
Open calculatorNew Tech-Term
No. 954LIC's online term plan: level cover from ₹50 lakh, bought direct with no agent.
Open calculatorJeevan Raksha
No. 894LIC's small-cover term plan: ₹5 lakh to ₹24 lakh, cover to age 60.
Open calculator