LIC Bima Jyoti (Plan 860)

LIC Bima Jyoti is a non-participating and non-linked savings plan that offers a combination of savings and protection. The plan provides financial security to policyholders’ loved ones in case of his/her unfortunate demise during the policy tenure. A guaranteed payment is also made to the policyholder at maturity if he/she survives it. The policy maximizes the savings of the policyholder through guaranteed additions, which nearly doubles the amount invested. 

Read more
LIC Plans-
Buy LIC policy online hassle free
Tax saving under Sec 80C & 10(10D)^
Guaranteed maturity with life cover for securing family's future
Sovereign guarantee as per Sec 37 of LIC Act
LIC life insurance
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold
Now Available on Policybazaar
Grow wealth through
100% Guaranteed Returns with LIC
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on ''View Plans'' you, agreed to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

The LIC Bima Jyoti Plan offers guaranteed additions on top of the assured benefits and therefore, can be considered a suitable investment for conservative investors in India. If you invest Rs.1 Crore in LIC Bima Jyoti, you will get an additional Rs.1 Crore at maturity through guaranteed additions. The final sum of Rs.2 crores comes with no risk and will be paid to you if all the premiums have been paid.

Key Features of LIC Bima Jyoti

  • The sum assured in case of death increases by 25% as soon as all premiums are paid.

  • Guaranteed additions accrue at Rs.50 per 1000 sum assured every year.

  • The plan offers different premium payment options such as yearly, half-yearly, quarterly, and monthly.

  • The loan feature is also available under LIC Bima Jyoti.

  • You can buy this plan online or offline.

  • In case you are dissatisfied with the policy’s terms and conditions, LIC will return the premium paid.

Eligibility Criteria of LIC Bima Jyoti

Parameters Minimum Maximum
Sum Assured Rs.1 lakh No limit
Entry Age Completion of 90 days 60 years
Maturity Age Completion of 18 years 75 years
Policy Term (PT) 15 – 20 years
Premium Paying Term (PPT) PT minus 5 years

Benefits of LIC Bima Jyoti

  1. Death Benefit

    It is payable in the case of the unfortunate demise of the policyholder within the policy tenure.

    • death occurs before the risk starts, the premium amount is returned by LIC, after excluding the taxes or any additional charges.

    • Subsequently, if death occurs after the risk cover starts, the sum assured amount is paid along with the accumulated guaranteed additions. The sum assured on death in such cases is defined as 7 times the annualized premium.

  2. Maturity Benefit

    If the life assured survives the specified maturity date (provided the policy is in the active phase), then LIC will pay the basic sum assured along with the accumulated guaranteed additions.

    You can request the maturity amount in monthly, quarterly, half-yearly, or yearly installments as well. This is subject to a minimum amount as under -

    Installment Payment Mode Minimum Amount of Instalment (in Rs.)
    Yearly 50,000
    Half-yearly 25,000
    Quarterly 15,000
    Monthly 5,000
  3. Guaranteed Additions

    Guaranteed Additions will be supplemented to the policy at the end of each year of the policy at the rate of Rs.50 per 1000 sum assured. In case of the policyholder’s death, these additions shall be made till the year of death.

    For a sum assured of Rs.1 Crore, you get a guaranteed addition of Rs.5 lakhs every year starting from the 1st policy anniversary till the last. Over 20 years, your Bima Jyoti policy will have accrued a total of Rs.1 Crore through guaranteed additions alone.

    Here’s an example to help you understand the benefits better.

Benefit Illustration - Invest 1 Crore in LIC & Get 2 Crores Guaranteed at Maturity

Let’s understand this with the help of an example. Assuming the following -

  • Age - 30 years

  • Sum Assured – Rs.1 Crore

  • Policy Term - 20 years

  • Premium Paying Term - 15 years

Using the LIC Bima Jyoti premium calculator, the annual premium comes out to be Rs.7,77,900, excluding taxes.

The benefits applicable under the following events are -

  1. If you die after 5 policy years

    1. Your family can claim 125% of the basic sum assured, which is equal to Rs.1.28 Crores.

    2. Further, guaranteed additions for 5 years will be added, which is equal to (50 x 1,00,00,000/1,000) x 5 = Rs.25 Lakhs.

    This brings the death benefit to Rs.1.53 Crores.

  2. If you die after 15 policy years

    1. Your family can claim 125% of the basic sum assured, which is equal to Rs.1.28 Crores.

    2. Further, guaranteed additions for 15 years will be added, which is equal to (50 x 1,00,00,000/1,000) x 15 = Rs.75 Lakhs.

    This brings the death benefit to Rs.2.03 Crores.

  3. If you survive the entire policy term of 20 years

    1. You will get the assured maturity sum of Rs.1 Crore.

    2. Further, guaranteed additions for 20 years will be added, which is equal to (50 x 1,00,00,000/1,000) x 20 = Rs.1 Crore.

    This brings the final maturity value to Rs.2 Crores.

Sample Premium Illustration

The below table illustrates the annual premium for SA of Rs.10 lacs for standard lives:

Age (in years) Policy Term (PPT)
15 (10) 18(13) 20(15)
20 Rs. 113217 Rs. 87541 Rs. 77153
30 Rs. 113609 Rs. 88031 Rs. 77790
40 Rs. 115667 Rs. 90481 Rs. 80534
50 Rs. 122135 Rs. 97488 Rs. 88178

*Premiums are excluding of all taxes

*All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C Apply

Additional Rider Benefits

The plan offers five rider options that a policyholder can add by paying an additional premium amount.

  1. Accidental Death and Disability Benefit Rider

    In case of accidental deaths, the sum assured amount of accidental death benefit is paid in lump sum along with the amount of death benefit under the existing plan.

  2. Accidental Benefit Rider

    In case of accidental death, the accidental death sum assured amount is paid along with the benefit of death under the existing plan. This rider cannot be opted for if the first rider is already added.

  3. New Term Assurance Rider

    It is available at the start of the policy. The sum assured under this rider plus the death benefit shall be offered if death occurs due to any reason during the policy tenure.

  4. New Critical Illness Benefit Rider

    It is available at the commencement of the policy and the benefits under this rider shall be offered on the first diagnosis of any of the 15 critical illnesses mentioned in the policy.

  5. Premium Waiver Benefit Rider

    This rider waives off all future due premium payments following the death of the policyholder.

Terms and Conditions of LIC Bima Jyoti

  1. Grace Period

    30 days of grace period is allowed for the payment of yearly, half-yearly, or quarterly premium and 15 days of grace period for monthly premium payment from the premium due date. If the premium is not paid before the expiry date of the grace period, then the policy will lapse.

  2. Freelook Period

    If in case the policyholder is not satisfied with the policy’s features, benefits, and terms and conditions, then there is an option to return the policy to the company. This can be done within 15 days from the receipt date (offline) and 30 days in case of online policy purchase.

  3. Surrender Benefit

    This plan provides the option of surrendering the policy any time after continuing the policy for two continuous years. In such situations, the insurer pays the surrender value equivalent to the higher of the special surrender value or the guaranteed surrender value.

  4. Revival

    The policy lapses if the premiums are not paid during the grace period. LIC Bima Jyoti provides an option to revive the lapsed policy within 5 consecutive years. It can only be revived before the maturity date.

  5. Paid-Up Value

    • If less than 2 years of premiums have been paid and any subsequent premium is not paid, the benefits offered by the policy will cease.

    • If premiums for a minimum of two years have been paid, the risk cover will remain active but the policy will exist as a paid-up policy.

  6. Tax Benefits

    Statutory taxes are payable on insurance policies by the Government of India or any other constitutional authority of India as per the prevailing tax laws. The tax rates may change from time to time. Tax exemptions can be availed under sections 80C and 10(10D) of the Income Tax Act.

  7. Rebates

    Mode Rebate
    Mode Rebate
    Yearly 2%
    Half-yearly 1%
    Quarterly and Monthly NA

How To Buy LIC Plans from Policybazaar?

Step 1: To buy LIC Bima Jyoti, visit LIC of India

Step 2: Fill in the form with your name and contact number

Step 3: Next, fill in your age and current city

Step 4: Once done, on the next page you can check the plans available and customize the amount and period for your investments

Step 5: Choose the plan, and pay your premiums online.

Note: Policybazaar also provides door-to-door advisors to resolve your queries.


Suicide – If the life assured commits suicide within 12 months from the date of commencement of the policy, then the company will not provide any claim under the plan. The family can, however, claim 80% of the premiums paid excluding all the taxes, additional premium amount, and rider premiums.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-
++Returns are 10 years returns of Nifty 100 Index benchmark

LIC of India
LIC Plans
LIC Jeevan Utsav
LIC Jeevan Kiran
LIC Dhan Vriddhi
LIC Monthly Investment Plans
LIC Jeevan Azad
LIC 1 Crore Endowment Plans
LIC Jeevan Labh 1 Crore
LIC Crorepati Plan
LIC Dhan Varsha - Plan No. 866
LIC Pension Plus Plan
LIC New Jeevan Shanti
LIC Bima Ratna
LIC Group Plans
LIC Fixed Deposit Monthly Income Plan
LIC Savings Plans
LIC’s New Jeevan Anand
LIC New Jeevan Anand Plan 915
LIC's Saral Jeevan Bima
LIC's Dhan Rekha
LIC Jeevan Labh 836
LIC Jeevan Jyoti Bima Yojana
LIC Child Plans Single Premium
LIC Child Plan Fixed Deposit
LIC Jeevan Akshay VII
LIC Yearly Plan
LIC’s New Bima Bachat Plan 916
LIC Bachat Plus Plan 861
LIC Policy for Girl Child in India
LIC Samriddhi Plus
LIC New Janaraksha Plan
LIC Nivesh Plus
LIC Policy for Women 2024
LIC Plans for 15 years
LIC Jeevan Shree
LIC Jeevan Chhaya
LIC Jeevan Vriddhi
LIC Jeevan Saathi
LIC Jeevan Rekha
LIC Jeevan Pramukh
LIC Jeevan Dhara
LIC Money Plus
LIC Micro Bachat Policy
LIC Endowment Plus Plan
LIC Endowment Assurance Policy
LIC Bhagya Lakshmi Plan
LIC Bima Diamond
LIC Anmol Jeevan
LIC Bima Shree (Plan No. 948)
LIC Jeevan Saathi Plus
LIC Jeevan Shiromani Plan
LIC Annuity Plans
LIC Jeevan Akshay VII Plan
LIC SIIP Plan (Plan no. 852) 2024
LIC Jeevan Umang Plan
LIC Jeevan Shanti Plan
LIC Online Premium Payment
LIC Jeevan Labh Policy-936
LIC Money Plus Plan
LIC Komal Jeevan Plan
LIC Jeevan Tarang Plan
LIC Bima Bachat Plan
LIC’s New Money Back Plan-25 years
LIC Money Back Plan 20 years
LIC Limited Premium Endowment Plan
LIC Jeevan Rakshak Plan
LIC New Jeevan Anand (Previously LIC Plan 149)
LIC New Endowment Plan
LIC Varishtha Pension Bima Yojana
LIC Investment Plans
LIC Pension Plans
Show More Plans
LIC Calculator
  • One time
  • Monthly
/ Year
Sensex has given 10% return from 2010 - 2020
You invest
You get
View plans
Download the Policybazaar app
to manage all your insurance needs.