In short (tl;dr)
Bima Ratna is a non-participating savings plan whose guaranteed additions rise from ₹50 to ₹60 per ₹1000 as the policy ages, with 25% of the sum assured paid out in each of the last two years before maturity.
About LIC Bima Ratna
Bima Ratna (Plan 864) credits Guaranteed Additions on a rising scale: ₹50 per ₹1000 of Basic Sum Assured for the first five policy years, ₹55 for years six to ten, and ₹60 from year eleven to the end of the term. The longer the policy runs, the faster it accumulates.
It also pays out early. In each of the two years before maturity, 25% of the Basic Sum Assured is released, and the remaining 50% arrives at maturity along with all the accrued additions. A 20-year policy therefore pays in years 18, 19 and 20.
Premiums are payable for five years less than the term, and the minimum sum assured is ₹5 lakh, which places the plan a rung above LIC's entry-level savings contracts.
Key features
- Guaranteed Additions rising from ₹50 to ₹60 per ₹1000 with policy duration
- 25% of the sum assured paid in each of the two years before maturity
- Premiums payable for five years less than the policy term
- Terms of 15, 20 or 25 years
- Non-participating: the entire benefit schedule is contractual
Bima Ratna at a glance
- Plan number
- 864
- Category
- Endowment
- Entry age
- 0 to 55 years
- Policy term
- 15, 20, 25 years
- Premium paying term
- Policy term minus 5 years
- Sum assured
- ₹5 Lakh and above
- Maximum maturity age
- 75 years
- UIN
- 512N345V01
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 Ratna
Death benefit
Sum Assured on Death — the higher of 125% of the Basic Sum Assured and 7 times the annualised premium — plus accrued Guaranteed Additions, subject to a minimum of 105% of premiums paid. Survival benefits already paid are not deducted.
Maturity benefit
50% of the Basic Sum Assured plus the full Guaranteed Additions accrued over the term, following the two 25% survival payouts.
Who it suits
Someone who wants a contractual return with cash arriving in stages at the end rather than all on one date.
What to watch out for
The ₹5 lakh minimum sum assured makes this a larger commitment than Bima Jyoti or Jeevan Azad. The rising GA scale only pays off if you hold the policy to term.
How this calculator works
Bima Ratna 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
- ₹78.30 per ₹1,000 at age 30, 20-year term, 15-year premium term
- Discount basis
- 5.66% a year, on LIC (2012-14) Ultimate mortality
- Guaranteed additions
- ₹50 per ₹1,000 for years 1–5; ₹55 per ₹1,000 for years 6–10; ₹60 per ₹1,000 from year 11 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 Ratna 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 Ratna, 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 Ratna sales brochure (PDF), Optional Rider Benefits clause.
LIC Bima Ratna — frequently asked questions
What are the guaranteed additions in Bima Ratna?
₹50 per ₹1000 sum assured per year for policy years 1 to 5, ₹55 for years 6 to 10, and ₹60 from year 11 onwards. A 20-year, ₹10 lakh policy accrues ₹2.5 lakh, ₹2.75 lakh and ₹6 lakh across the three bands — ₹11.25 lakh in total.
When does Bima Ratna pay the survival benefit?
25% of the Basic Sum Assured at the end of the second-last policy year and another 25% at the end of the last year before maturity. For a 20-year term that is years 18 and 19.
What is the minimum sum assured in Bima Ratna?
₹5,00,000, in multiples of ₹25,000. There is no upper limit subject to underwriting.
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Plans people usually weigh up against Bima Ratna before deciding.
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No. 72020% of the sum assured back in years 5, 10 and 15, and the rest at maturity.
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