Legal & Institutional Disclaimer
Important regulatory disclosures, trademark notices, and actuarial computation guidelines for FY 2026-27.
Non-Affiliation Notice with Life Insurance Corporation of India (LIC)
LIC Sodho (licsodho.in) is an independent, private educational web portal. We are NOT affiliated with, associated with, authorized by, sponsored by, or in any way officially connected with the Life Insurance Corporation of India (LIC), or any of its subsidiaries, regional offices, or divisional units.
The official website of the Life Insurance Corporation of India is located at https://licindia.in .
1. Source of Calculation Data & Public Rate Tables
All calculation results, tabular premiums, rider charges, and loan amortization metrics presented on this platform are derived from:
- Public product brochures and tabular premium charts published in the Gazette of India by LIC.
- Actuarial rate tables available in the public domain for licensed plans (e.g., Plan 914, Plan 936, Plan 945, Plan 854, Plan 871).
- Standard mathematical algorithms applying official modal rebate percentages (2% for yearly premium mode, 1% for half-yearly) and High Sum Assured rebates.
While we make diligent actuarial efforts to ensure formulas mirror official tables for FY 2026-27, mathematical variations may occur due to age rounding, underwriting loading, rider combinations, or table revisions by the insurer.
2. Mandatory Requirement to Consult Authorized LIC Personnel
Official Binding Contract Requirement:
Calculations provided by LIC Sodho are indicative approximations designed solely for personal financial modeling and budget comparison. They do not constitute an insurance quotation, proposal, or legal offer to contract.
Before purchasing any life insurance plan, you MUST consult an authorized LIC agent, Development Officer, or visit your nearest official LIC branch office to obtain an authorized sales quotation and verify your medical underwriting requirements.
3. Nature of With-Profit Bonuses (Reversionary & FAB)
Maturity figures displayed on participating ("with-profits") policies include estimated Simple Reversionary Bonuses and Final Additional Bonuses (FAB):
4. Applicable Goods & Services Tax (GST)
In compliance with current Indian GST laws, insurance premiums are subject to statutory taxes levied by the Government of India:
- 4.50% / 2.25%Traditional Plans (1st Year / Renewal)
- 18.00%Term Insurance & Health Riders
- 1.80%Single Premium Annuity / Pension
5. Prohibition of Rebates (Section 41 of Insurance Act, 1938)
In accordance with Section 41 of the Insurance Act, 1938:
"No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy..."
LIC Sodho does not offer, facilitate, negotiate, or provide any premium rebates, cashbacks, or inducements whatsoever.
6. Income Tax Act Provisions Disclaimer
Tax benefits cited throughout this website under Section 80C, Section 10(10D), Section 80CCC, and Section 80D of the Income Tax Act, 1961 are subject to conditions prescribed under the applicable Finance Act and rules:
- Section 80C tax deductions are available exclusively under the Old Tax Regime.
- Per Budget 2023, maturity proceeds from non-ULIP life insurance policies issued on or after April 1, 2023, where total annual premium exceeds ₹5,00,000, are taxable under Section 10(10D).
- Tax laws are subject to amendment. Users must seek professional advice from a certified Chartered Accountant or tax consultant before making tax-motivated financial decisions.