Plan 829 Actuarion Engine 2026

LIC Bhagya Lakshmi (Plan 829) Premium Calculator

Model LIC's micro-insurance term plan designed for low-income segments. Pays a return of 110% of premiums paid upon survival to maturity.

Micro-Insurance: Low, accessible premium rates for all

Return of Premium: 110% of total premiums paid refunded on maturity

Basic Life Cover: Simple risk cover for low-income groups

No complex medical test requirements

Tax deductions u/s 80C on premiums paid

LIC Bhagya Lakshmi Inputs

LIC Bhagya Lakshmi (Plan 829) specialized calculator. Adjust your sliders to recalculate active returns.

1. Age at Entry (Years)30 Years Old

2. Basic Sum Assured (₹)₹50,000

3. Policy Coverage Term (Years)10 Years

4. Smoking Habit

5. Gender

6. Payment Frequency

Plan 829

Estimated Maturity Returns

₹3,043

Estimated returns payout at policy maturity

Actuarial Projections

Sovereign-backed security of sum assured and returns u/s 10(10D).
Eligible for annual premium tax exemptions under Section 80C.
Loan and policy surrender values accumulate continuously.

First Year Installment (with GST):₹282

Renewal Installment (with GST):₹276

Total Estimated Premiums Paid:₹2,766

Basic Life Cover (Death Benefit):₹50,000

Maturity Returns (Survival Benefit):₹3,043 (ROP)

Returns Performance1.10x Return

Guide to LIC Bhagya Lakshmi Micro Insurance (Plan 829)

LIC's Bhagya Lakshmi (Plan 829) is a non-participating, non-linked micro-insurance term plan. It is specifically designed to provide low-cost life insurance to low-income segments. A major highlight is that if the policyholder survives to maturity, the plan refunds 110% of the total base premiums paid during the term, providing basic risk cover with no capital loss.

Plan Eligibility & Key Actuarial Limits

Policy parameter	Details and limits
Minimum Entry Age	18 Years (Completed)
Maximum Entry Age	55 Years
Maximum Maturity Age	65 Years
Minimum Sum Assured	₹20,000
Maximum Sum Assured	₹50,000
Policy Term Options	5 to 13 Years

Tax Benefits & Payout Options

Premiums qualify for Section 80C tax relief. Payouts (death benefit and maturity refund) are tax-free under Section 10(10D).

Frequently Asked Questions (FAQs)

What does the policyholder receive on maturity?

Upon surviving the policy term, the policyholder receives a maturity benefit equal to 110% of the total base premiums paid during the term.

What is the premium paying term for Bhagya Lakshmi?

The premium paying term is equal to the policy term minus 2 years. For a 10-year term, you pay premiums for 8 years.

Are riders available under Plan 829?

No, rider options are not available under this micro-insurance plan.

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Mumbai, Maharashtra

Term Insurance

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Delhi, NCR

Endowment Plan

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Ahmedabad, Gujarat

Whole Life Plan

3 weeks ago

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Bangalore, Karnataka

Endowment Plan

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ULIP

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Kolkata, West Bengal

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Hyderabad, Telangana

Whole Life Plan

2 weeks ago

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