LIC Premium Without Tax Calculator

LIC calculators are very easy-to-use tools. You have the option to calculate premiums for all of its policies that you are interested in. Another benefit is that the premium quotes are displayed with and without the taxes. This allows you to see how much additional amount is required to pay on Goods and Services Tax along with the base premium for life insurance.

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

What is the LIC Premium Without Tax Calculator?

The LIC premium without tax calculator is a feature in the LIC’s Premium Calculator tool that calculates premiums and the taxes separately. This information before purchasing a plan helps you to correctly assume the actual cost of an insurance policy. 

Key Features of the LIC Premium Without Tax Calculator

  • The calculator displays three components - the basic premium amount, the tax amount, and the combined total premium amount. 

  • If you choose a rider along with the plan, the calculator will reflect the additional premium along with the tax component.

  • A key feature is that it shows premiums payable on a yearly, half-yearly quarterly, and monthly basis. 

  • There is no limit to the number of times the calculator can be used. 

  • The calculator requires you to input your age, gender, desired sum assured amount, coverage period, to arrive at an accurate estimate. 

Why should you use the LIC Premium Without Tax Calculator?

  • Based on the quotes generated, you can decide if the total amount including taxes fits your budget or not. 

  • You can change the needs and requirements out of the plan such as the sum assured, policy term, premium paying term, etc to arrive at a premium that suits you.

  • Online availability ensures that one can use the tool from the comfort of their homes. 

  • Offline agents may not be able to communicate the exact tax that is levied on insurance policies. Using this tool eliminates third-party agents, thereby reducing the chances of misselling.

  • The LIC premium & maturity calculator is completely free of cost and offers results in an instant. 

  • It offers customized results based on the inputs of each user.

Tax On LIC’s Life Insurance Premium

The premium that you pay towards an LIC policy does not entirely go towards the life cover. A percentage of it is actually taxes that any insurance buyer has to pay to the Government of India. This comes under the Goods and Service Tax introduced in 2017 by the Government to do away with complex indirect taxes in the country. 

Knowing how to calculate LIC premium without tax is important to make informed decisions. Here is a brief breakdown of the GST amount applicable under different types if insurance policies sold by LIC. 

  • For LIC term insurance plans where the entire premium is for the life cover, a GST of 18% will be charged on the total premium. 

  • In case of LIC’s single premium annuity plans, GST of 18% will be charged only on 10% of the premiums, and not the whole amount.

  • For LIC’s traditional endowment plans, GST is charged on 25% of the premium in the 1st year and on 12.5% of the premium payable in subsequent years. 

To Sum Up!

The LIC premium without tax calculator lets you accurately calculate the basic premium amount. The additional tax is displayed separately so that users know how their money is being spent. It available in the official channels of LIC and can be accessed at any time and by anyone.

*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 Bima Jyoti (Plan 860)
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.