LIC New Bima Jyoti Plan 890 is a non-participating, non-linked individual savings plan that combines life insurance protection with guaranteed additions. The plan is suitable for people who want a fixed-term policy with a predictable maturity benefit rather than returns linked to the stock market.

The LIC New Bima Jyoti Plan 890 Calculator can help you estimate the premium, total premiums payable, guaranteed additions and expected maturity amount. However, the final premium and benefits will depend on the official quotation issued by LIC after considering age, sum assured, payment mode, medical details, underwriting and applicable taxes.

Important update: LIC’s New Bima Jyoti Plan 890, UIN 512N395V01, became available for sale from 10 August 2026. LIC has not published a withdrawal date for this plan as of 11 August 2026. The plan’s terms may change in the future, so always check the latest documents on the official LIC website.

What Is LIC New Bima Jyoti Plan 890?

LIC’s New Bima Jyoti is a limited-premium endowment plan. It is classified as

• Non-par.
• Non-linked.
• Individual.
• Life insurance.
• Savings plan.
• Limited-premium endowment plan.

“Non-linked” means the policy is not connected to market-linked funds such as unit-linked insurance plans. The policyholder does not directly participate in stock market gains or losses.

“Non-par” means the policy does not receive a share of LIC’s profits or discretionary bonuses. Instead, the benefits are based on the guaranteed terms mentioned in the policy document.

The plan provides a life cover during the policy term. If the policyholder survives until maturity and all required conditions are fulfilled, LIC pays the Basic Sum Assured along with accrued Guaranteed Additions.

According to LIC’s official sales brochure, Guaranteed Additions are calculated as a percentage of the Total Annualized Premiums in respect of premiums paid. The basic rate is 6%, subject to applicable incentives for high Basic Sum Assured and eligible online sales.

Launch and Withdrawal Date

LIC’s New Bima Jyoti Plan 890 was introduced as a new LIC savings product in August 2026.

Particular	Details
Plan name	LIC’s New Bima Jyoti
Plan number	890
UIN	512N395V01
Launch date	10 August 2026
Plan type	Non-par, non-linked, individual savings plan
Policy term	15 to 20 years
Premium paying term	Policy term minus 5 years

The launch date is based on LIC’s product announcement and the effective date shown in the official product material. Since this is a new plan, customers should rely on the latest brochure, policy document, benefit illustration and customer information sheet before purchasing.

A withdrawal date is normally relevant when LIC discontinues a plan for new sales. At present, there is no official withdrawal date available for Plan 890. Existing policyholders would generally continue to be governed by the terms of their policy document even if LIC later stops selling the plan to new customers.

How LIC New Bima Jyoti Calculator Works

A calculator for LIC New Bima Jyoti Plan 890 generally requires the following information:

• Age of the Life Assured.
• Basic Sum Assured.
• Policy term.
• Premium paying term.
• Premium payment mode.
• Sales channel, such as offline or online.
• Optional riders, if selected.

The calculator uses these details to show an estimated yearly or modal premium. It can also estimate the total premium paid and the Guaranteed Additions.

A simple calculation may be shown as follows:

Total Premium Calculation

Total Base Premiums=Annualized Premium×Premium Paying Term

Taxes, rider premiums and underwriting-related extra premiums should be shown separately. They should not be mixed with the base premium when calculating the guaranteed benefits.

Guaranteed Addition Calculation

Annual Guaranteed Addition=Applicable GA Rate×Annualized Premium

For the basic rate:

Annual Guaranteed Addition = 6% × Annualized Premium

Maturity Calculation

Maturity Benefit=Basic Sum Assured+Accrued Guaranteed Additions

The final calculation can be different if the policy qualifies for an incentive. The policy document and official benefit illustration will have priority over any online calculator.

Eligibility and Policy Details

LIC New Bima Jyoti Plan 890 has a policy term of 15 to 20 years. The premium payment term is five years shorter than the policy term.

For example:

• A 15-year policy has a 10-year premium paying term.
• A 16-year policy has an 11-year premium paying term.
• A 17-year policy has a 12-year premium paying term.
• An 18-year policy has a 13-year premium paying term.
• A 19-year policy has a 14-year premium paying term.
• A 20-year policy has a 15-year premium paying term.

The principal eligibility conditions are shown below.

Feature	Details
Minimum age at entry	30 completed days
Maximum age at entry	60 years, nearer birthday
Maximum age at entry through POSP-LI/CPSC-SPV	65 years minus policy term
Minimum age at maturity	18 completed years
Maximum age at maturity	75 years, nearer birthday
Maximum age at maturity through POSP-LI/CPSC-SPV	65 years
Minimum policy term	15 years
Maximum policy term	20 years
Premium paying term	Policy term minus 5 years
Minimum Basic Sum Assured	₹1,25,000
Maximum Basic Sum Assured	No stated limit, subject to underwriting

The Basic Sum Assured must be selected in the permitted multiples:

• From ₹1,25,000 to less than ₹2,75,000: multiples of ₹5,000.
• Above ₹2,75,000: multiples of ₹25,000.

The maximum amount allowed for an individual is subject to LIC’s underwriting policy. Therefore, the calculator may show an estimate, but LIC may request medical tests or additional information before accepting the proposal.

Premium Payment Modes

Premiums under LIC New Bima Jyoti Plan 890 can generally be paid through the following modes:

• Yearly.
• Half-yearly.
• Quarterly.
• Monthly through e-NACH or NACH.
• Salary Savings Scheme, where applicable.

The payment mode available to you depends partly on the Basic Sum Assured.

Basic Sum Assured	Available premium modes
Less than ₹1,50,000	Yearly and half-yearly
₹1,50,000 and above	Yearly, half-yearly, quarterly, monthly through NACH and salary deduction

The official brochure gives the following premium conversion factors:

Payment mode	Conversion factor
Yearly	1.0000
Half-yearly	0.5090
Quarterly	0.2568
Monthly	0.0861

For example, if the yearly premium is ₹1,00,000, the indicative half-yearly premium may be calculated as:

₹1,00,000×0.5090=₹50,900

The actual payable premium may be affected by rounding, taxes, underwriting loading, rider charges or other applicable conditions.

Sample LIC Plan 890 Premium

LIC’s brochure provides sample annual premiums for a Basic Sum Assured of ₹10 lakh for standard lives through offline sales. These amounts are exclusive of applicable taxes.

Age	15-year term / 10-year PPT	18-year term / 13-year PPT	20-year term / 15-year PPT
20	₹1,22,300	₹93,200	₹82,550
30	₹1,22,850	₹93,900	₹83,400
40	₹1,25,600	₹97,200	₹87,150
50	₹1,34,300	₹1,06,650	₹97,500

These are sample figures, not guaranteed quotations for every applicant. The actual premium can vary according to the information provided in the proposal form.

A calculator should clearly mention that the displayed result is an illustration. It should not present an estimate as the final LIC premium.

Example of Maturity Calculation

Let us take an example of a 30-year-old person choosing:

• Basic Sum Assured: ₹10,00,000.
• Policy term: 20 years.
• Premium paying term: 15 years.
• Indicative annual premium: ₹83,400.
• Basic Guaranteed Addition rate: 6%.

Step 1: Calculate total base premiums.

₹83,400×15=₹12,51,000

The policyholder would pay the base premium for 15 years. Taxes and rider premiums, if any, are additional.

Step 2: Calculate annual guaranteed addition.

₹83,400×6%=₹5,004

Step 3: Calculate total guaranteed additions

If the policy remains in force and the same annual premium is paid for the full premium-paying term:

₹5,004×15=₹75,060

Step 4: Calculate indicative maturity benefit.

The Basic Sum Assured on Maturity is equal to the Basic Sum Assured:

₹10,00,000+₹75,060=₹10,75,060

This example is only for understanding the calculation. The final guaranteed addition may be higher if the policy qualifies for a high basic sum assured incentive or online-sale incentive. The premium may also differ from the sample premium shown above.

Also, the policy needs to remain in force, and the applicable premiums must be paid according to the policy conditions. A lapsed or paid-up policy may have different benefits.

Guaranteed Additions and Incentives

The standard guaranteed addition rate under Plan 890 is 6% of total annualized premiums in respect of premiums paid.

The plan may provide additional incentives in the form of an increased guaranteed addition rate.

High Basic Sum Assured Incentive

The official brochure lists the following high basic sum. Assured incentives:

Premium paying term	₹1.25 lakh to below ₹3 lakh	₹3 lakh to below ₹5 lakh	₹5 lakh to below ₹10 lakh	₹10 lakh and above
10 to 14 years	Nil	0.50%	0.85%	1.00%
15 years	Nil	0.75%	1.10%	1.25%

For example, a policy with a 15-year premium paying term and Basic Sum Assured of ₹10 lakh or more may receive a total Guaranteed Addition rate of 7.25%, subject to the policy conditions.

Online-Sale Incentive

For a proposal completed online without the assistance of an agent or intermediary, the brochure lists an additional incentive:

Premium paying term	Online-sale incentive
10 to 14 years	1.25%
15 years	1.50%

These incentives may not be combined in the same way for every case without checking the official product rules. A calculator should identify the applicable incentive instead of automatically adding every available percentage.

Death Benefit Under Plan 890

If the life assured dies during the policy term after the risk has commenced and the policy is in force, LIC pays the sum assured on death along with accrued guaranteed additions.

The sum assured on death is the higher of:

• 125% of the Basic Sum Assured.
• Seven times the Annualized Premium.

It is also subject to a minimum of 105% of the total premiums paid up to the date of death, excluding applicable taxes and certain other charges as defined in the policy document.

For example, suppose:

• Basic Sum Assured: ₹10,00,000.
• Annualized Premium: ₹83,400.

Then:

125% of ₹10,00,000=₹12,50,000

7×₹83,400=₹5,83,800

The sum assured on death would therefore be ₹12,50,000 because it is higher than ₹5,83,800.

Accrued Guaranteed Additions would be added according to the policy conditions. The death benefit may be paid as a lump sum or through installments if the relevant option was exercised.

For a minor whose age at entry is below eight years, special risk commencement conditions apply. If death occurs before risk commencement, the benefit is generally based on the return of eligible total premiums paid, without interest.

Maturity Benefit

If the life assured survives until the maturity date and the policy remains in force, the maturity benefit consists of:

• Sum Assured on Maturity.
• Accrued Guaranteed Additions.

Under this plan, the Sum Assured on Maturity is equal to the Basic Sum Assured.

The policyholder can choose to receive the maturity benefit as a lump sum or use the Settlement Option to receive it in instalments over five, ten or fifteen years.

The minimum instalment amounts are:

Installation frequency	Minimum installment
Monthly	₹5,000
Quarterly	₹15,000
Half-yearly	₹25,000
Yearly	₹50,000

If the amount is not sufficient to provide the selected minimum installment, LIC may pay the claim as a lump sum.

Surrender, Paid-Up Value and Loan

These features are important because traditional insurance policies are designed for long-term holding.

Paid-up policy

If at least one full year’s premium has been paid and later premiums are not paid, the policy may continue as a paid-up policy after the first policy year. However, the Basic Sum Assured and future benefits are reduced according to the ratio of premiums paid to premiums originally payable.

Guaranteed additions already earned remain attached according to the paid-up provisions. Future guaranteed additions are calculated at the applicable paid-up rate.

If less than one full year’s premium has been paid and the policy is discontinued, the benefits may cease after the grace period.

Surrender value

The policy can be surrendered after completion of the first policy year, provided one full year’s premium has been paid. Guaranteed surrender value is acquired after at least two consecutive years’ premiums have been paid.

The surrender benefit is the higher of:

• Guaranteed surrender value plus the surrender value of accrued guaranteed additions.
• Special Surrender Value.

The surrender value may be significantly lower than the total premiums paid, especially in the initial years. Therefore, surrendering the policy early should be considered carefully.

Policy loan

A policy loan may be available after completion of the first policy year, provided one full year’s premium has been paid.

The maximum loan as a percentage of surrender value is generally

Policy status	Before two full years’ premiums	After two full years’ premiums
In-force policy	50%	80%
Paid-up policy	40%	75%

Interest is charged on the loan. Any outstanding loan and interest may be recovered from the surrender, maturity or death benefit.

Riders Available With Plan 890

LIC New Bima Jyoti Plan 890 offers optional riders for an additional premium, subject to eligibility and policy conditions.

The brochure lists:

• LIC’s Accidental Death and Disability Benefit Rider.
• LIC’s Accident Benefit Rider.
• LIC’s New Term Assurance Rider.
• LIC’s Premium Waiver Benefit Rider.
• LIC’s Critical Illness Health Rider.

The Critical Illness Health Rider has two options: cover for 15 major critical illnesses, or cover for 40 major critical illnesses including an Assisted Living Benefit for certain illnesses.

Riders are not available for policies purchased through POSP-LI or CPSC-SPV channels. Rider premiums are separate from the base policy premium and should not be included when calculating the basic maturity benefit.

Grace Period, Revival and Free Look

LIC provides a grace period for paying premiums:

• 30 days for yearly, half-yearly, and quarterly premiums.
• 15 days for monthly premiums.

During the grace period, the policy generally continues with risk cover according to its terms.

If the premium is not paid within the grace period, the policy lapses. A lapsed policy may be revived within five consecutive complete years from the date of the first unpaid premium, subject to payment of arrears, interest and continued insurability requirements.

The free-look period is 30 days from the date of receipt of the electronic or physical policy document, whichever is earlier. If the policyholder disagrees with the policy terms, the policy may be returned during this period, subject to the deductions explained in the policy document.

Things to Check Before Buying

Before relying on the LIC New Bima Jyoti Plan 890 Calculator, check the following:

• Whether the result includes or excludes GST.
• Whether the premium shown is for the base policy only.
• Whether riders have been added.
• Whether the policy is being purchased online or offline.
• Whether high Basic Sum Assured incentives apply.
• Whether the guaranteed addition rate is clearly displayed.
• Whether the policy term and premium paying term are correct.
• Whether the maturity amount is guaranteed under the selected option.
• Whether the surrender and paid-up values are understood.
• Whether the premium is affordable for the complete payment period.

A calculator is useful for comparison, but it cannot determine whether the plan is suitable for your entire financial situation. Life insurance should first be selected according to the required protection, affordability and long-term goals.

Frequently Asked Questions

Conclusion

The LIC New Bima Jyoti Plan 890 Calculator is useful for estimating the premium, total payment, Guaranteed Additions and maturity benefit before making a decision. The plan offers a fixed policy term of 15 to 20 years, a premium paying term of 10 to 15 years and a basic Guaranteed Addition rate of 6% of eligible annualized premiums.

Its main advantages are guaranteed benefits, life insurance protection, limited premium payment, loan availability and installment options for maturity or death benefits. At the same time, the policy requires long-term premium commitment, and early surrender may result in a lower return than the total premiums paid.