Free LIC Premium Calculator

LIC policies come with a range of plan types - endowment, whole life, term - and figuring out the premium before you commit can save a lot of back-and-forth with an agent. This calculator gives you a ballpark estimate based on the plan you are considering, your age, the sum assured, and the policy term. The premium rates used here are approximate and based on publicly available LIC rate tables. The actual premium you are quoted may differ slightly based on factors like medical history, rider additions, and any applicable rebates or loading. This tool is meant to give you a realistic starting point so you can plan your budget before having the detailed conversation with LIC or an agent. You can also toggle between payment frequencies - yearly, half-yearly, quarterly, or monthly - to see how the payment amount changes. LIC applies a slightly different factor for each frequency, so paying annually is the most cost-effective option, while monthly payments are the most convenient but cost slightly more overall. One thing to keep in mind: for term plans like Tech Term, premiums are significantly lower because there is no maturity benefit - it only pays out on death during the policy term. Endowment and whole life plans cost more because they build a savings component alongside the insurance cover.