Wealth creation is important, but for High Net Worth Individuals (HNIs), liquidity is king. When you are running a business or managing a large portfolio, locking your capital away for two decades without any access to it is rarely a smart financial move. You need a life insurance product that offers massive protection, guarantees steady growth, and pays you large chunks of cash at regular intervals.
LIC’s Bima Shree Plan 748 Calculator
Limited Pay Participating Plan for High Net-worth Individuals.
LIC Money Back Plans Calculator
Compare LIC money back plans and calculate premium, survival benefits, and maturity value using our LIC calculators. Choose the best LIC policy for regular payouts, savings, and financial security.
Enter the LIC Bima Shree Plan 748. Specifically tailored for HNIs, this premium money-back policy guarantees wealth accumulation while ensuring your family’s standard of living is protected with a multi-million rupee life cover.
Because this plan involves massive Sum Assured amounts, unique “Guaranteed Additions,” and periodic survival payouts, calculating your exact returns and premium obligations manually is a mathematical nightmare. This is exactly where the LIC Bima Shree Plan 748 Calculator becomes your ultimate financial advisor.
In this comprehensive guide, we will decode the mechanics of this elite policy, break down the exact payout structure, and show you how to use the calculator to structure the perfect financial safety net.
What is the LIC Bima Shree Plan 748?
The LIC Bima Shree Plan (UIN: 512N316V03) is a Non-Linked, Participating, Individual, Limited Premium Payment, Money-Back Life Insurance Plan.
Let’s translate that financial jargon into clear benefits:
- Targeted at HNIs: The absolute minimum entry cover (Sum Assured) is ₹10,00,000. This filters the plan specifically for individuals looking for high-value protection.
- Non-Linked & Guaranteed: Your capital is not subjected to the risky rollercoaster of the stock market. A large portion of your returns is absolutely guaranteed in writing.
- Limited Premium: You do not have to pay premiums for the entire duration of the policy. You pay premiums for 4 years less than your policy term, giving you a premium holiday towards the end.
- Money-Back: You receive massive payouts (Survival Benefits) during the last few years of the policy to fund major life milestones like a child’s foreign education or business expansion.
Quick Overview: LIC Bima Shree Plan Details
Before you open the lic premium calculator, you must understand the official eligibility criteria and strict parameters of this plan. Here is an easy-to-read snapshot:
| Policy Parameter | Official Specifications |
|---|---|
| Plan Name & Number | LIC Bima Shree Plan 748 |
| Minimum Basic Sum Assured | ₹10,00,000 (₹10 Lakhs) |
| Maximum Basic Sum Assured | No Upper Limit (In multiples of ₹50,000) |
| Policy Terms Available | 14, 16, 18, and 20 Years |
| Premium Paying Term (PPT) | Policy Term minus 4 Years (e.g., 10, 12, 14, 16 Years) |
| Minimum Entry Age | 8 Years (Completed) |
| Maximum Entry Age | 55 Yrs (for 14-yr term), 51 Yrs (16-yr), 48 Yrs (18-yr), 45 Yrs (20-yr) |
| Maximum Maturity Age | 69 Years (Nearest Birthday) |
Why You Must Use the LIC Bima Shree Plan 748 Calculator
When dealing with premiums that run into lakhs of rupees annually, precision is everything. The LIC Bima Shree Plan 748 Calculator is a sophisticated digital tool designed to give you absolute financial clarity.
Here is why using this calculator before talking to an agent is non-negotiable:
- Factoring in GST: High premiums attract significant GST (4.5% in the first year, 2.25% thereafter). The calculator shows you the exact gross amount you need to transfer from your bank.
- Visualizing Guaranteed Additions: This plan offers guaranteed money added to your policy every year. The calculator projects exactly how much guaranteed wealth you are accumulating.
- Cash Flow Planning: By showing you the exact years you will receive your Survival Benefits, you can align this policy with upcoming expenses, like a balloon payment for a real estate purchase.
- Rebate Optimization: LIC offers massive premium discounts (rebates) for choosing a higher Sum Assured. The calculator automatically applies these discounts, ensuring you get the best deal.
Decoding the Payouts: How Do You Get Your Money Back?
The brilliance of the LIC Bima Shree Plan lies in its structured payout system. Instead of waiting until maturity, LIC pays you a fixed percentage of your Basic Sum Assured (BSA) during the final years of the policy.
Here is the exact Survival Benefit (Money-Back) schedule:
- For 14-Year Term: You receive 30% of the BSA at the end of the 10th and 12th years.
- For 16-Year Term: You receive 35% of the BSA at the end of the 12th and 14th years.
- For 18-Year Term: You receive 40% of the BSA at the end of the 14th and 16th years.
- For 20-Year Term: You receive 45% of the BSA at the end of the 16th and 18th years.
(Note: By the time these payouts are done, you have already received a massive chunk of your money back, providing unmatched liquidity!)
The Grand Finale: The Maturity Benefit
If you survive the entire policy term, LIC pays you the final Maturity Benefit to close the contract. This consists of:
- The remaining balance of your Basic Sum Assured (e.g., 40% for a 14-year term, 10% for a 20-year term).
- Total Accumulated Guaranteed Additions.
- Loyalty Additions (if declared by LIC).
The Secret Weapon: Guaranteed Additions Explained
What separates Bima Shree from ordinary endowment plans is the “Guaranteed Additions” (GA). Regardless of how the stock market performs, LIC guarantees in writing to add a specific amount to your policy every single year during the Premium Paying Term.
- First 5 Years: LIC adds ₹50 per ₹1,000 of your Basic Sum Assured every year.
- 6th Year to End of Premium Term: LIC adds ₹55 per ₹1,000 of your Basic Sum Assured every year.
Real-Life Case Study: Seeing the Calculator in Action
Let’s look at a practical scenario to understand the immense wealth-creation power of this policy.
Meet Mr. Kapoor (Age 35, Business Owner):
Mr. Kapoor wants a safe harbor for his wealth. He uses the LIC Bima Shree Plan 748 Calculator and opts for a Basic Sum Assured of ₹20,00,000 (₹20 Lakhs) with a 20-Year Policy Term.
- Premium Paying Term: 16 Years (20 minus 4).
- Approximate Annual Premium: ₹1,65,000 (excluding GST).
Mr. Kapoor’s Guaranteed Cash Flow Timeline:
- End of Year 16: He receives 45% of his Sum Assured = ₹9,00,000 in cash. (His premium payments stop here).
- End of Year 18: He receives another 45% = ₹9,00,000 in cash.
- By Year 18, he has already received ₹18 Lakhs in liquidity!
Maturity at Year 20:
Mr. Kapoor receives the remaining 10% of the Sum Assured (₹2,00,000).
Plus, he receives his Guaranteed Additions (GA):
- GA for first 5 years (₹50 x 2000 x 5) = ₹5,00,000
- GA for next 11 years (₹55 x 2000 x 11) = ₹12,10,000
- Total Guaranteed Additions = ₹17,10,000
Total Maturity Payout: ₹2,00,000 (Remaining SA) + ₹17,10,000 (GA) + Loyalty Additions = Over ₹19,10,000!
For a total premium investment of roughly ₹26.4 Lakhs, Mr. Kapoor receives roughly ₹37 Lakhs back (including Survival Benefits), while enjoying a minimum life cover of ₹25 Lakhs for 20 years!
Critical Features: Death Benefit, Surrender & Loans
While the calculator handles the returns, the official LIC brochure outlines several vital rules you must know regarding emergencies.
1. The Robust Death Benefit
If the policyholder tragically passes away during the term, the family does not just get the standard Sum Assured. The Death Benefit is defined as the higher of:
- 125% of the Basic Sum Assured (e.g., ₹25 Lakhs for a ₹20 Lakh policy).
- 7 times the annualized premium.
Additionally, the family receives all Guaranteed Additions accrued until the year of death, plus any Loyalty Additions.
2. Surrender Value Rules
HNIs often restructure their portfolios. If you need to exit the plan early, you can surrender the policy for cash, provided you have paid full premiums for at least two consecutive years. However, surrendering a policy early will result in a loss of potential returns, so it should only be a last resort.
3. Policy Loan Facility
Instead of surrendering, you can leverage your policy. Once the policy acquires a surrender value (after 2 years), you can take a loan directly from LIC against your Bima Shree policy at highly competitive interest rates, ensuring your business never suffers from a liquidity crunch.
Tax Benefits Under LIC Bima Shree Plan 748
A major reason HNIs invest in traditional insurance is tax optimization.
- Tax Deduction: The massive premiums you pay are eligible for a tax deduction under Section 80C of the Income Tax Act, up to ₹1.5 Lakhs per year.
- Tax-Free Returns: Generally, under Section 10(10D), the survival benefits, maturity amount, and death benefit are completely tax-free.
(Expert Disclaimer: As per new IT rules introduced in 2023, if your aggregate annual premium for traditional policies issued after April 1, 2023, exceeds ₹5 Lakhs, the maturity proceeds may be taxable. However, Death Benefits remain 100% tax-free regardless of the premium amount. Always consult your CA for high-ticket policies).
FAQs
Q1: How is LIC Bima Shree (748) different from LIC Jeevan Shiromani (947)?
While both are HNI plans, Bima Shree has a minimum Sum Assured of ₹10 Lakhs, making it accessible to upper-middle-class professionals. Jeevan Shiromani is strictly for ultra-HNIs with a minimum Sum Assured of ₹1 Crore and includes an inbuilt Critical Illness benefit.
Q2: Will I lose my Guaranteed Additions if I miss a premium?
If you fail to pay your premium within the 30-day grace period, your policy lapses. A lapsed policy ceases to accrue any future Guaranteed Additions or Loyalty Additions until it is revived by paying the outstanding premiums with interest.
Q3: Can I defer my Survival Benefits (Money-Back payouts)?
Yes! LIC offers an incredible feature where if you do not need the money-back payout at the 16th or 18th year, you can defer it. LIC will hold the money and pay you an increased amount later, adding a specified interest rate to your deferred payouts.
Q4: Is a medical test mandatory for Bima Shree?
Given the high minimum Sum Assured (₹10 Lakhs and above), LIC generally requires standard medical underwriting (like blood tests and ECG). However, based on your age and health declaration, LIC may occasionally waive it for lower age brackets.
Q5: Does the death benefit decrease after I receive a survival payout?
Absolutely not. This is the beauty of LIC Bima Shree. Even if you have received 90% of your money back via survival benefits, if death occurs in the final year, your nominee will still receive the full 125% of the Basic Sum Assured plus all accrued bonuses, without any deductions.
Conclusion
The stock market creates wealth, but traditional life insurance preserves it. The LIC Bima Shree Plan 748 is the ultimate wealth-preservation tool for individuals who want iron-clad guarantees, high life coverage, and predictable cash flows.
By offering a massive ₹50 to ₹55 per thousand Guaranteed Addition, this plan shields your portfolio from economic downturns and ensures your liquidity needs are met at critical life stages.
Do not rely on rough estimates for high-ticket investments. Open the LIC Bima Shree Plan 748 Calculator right now. Input your desired Sum Assured, explore the 14 to 20-year terms, and instantly discover the exact premium required to build a fortress of guaranteed wealth for your family.
