LIC Bima Jyoti Plan 860

LIC Bima Jyoti Plan 860 is new plan by LIC within the 12 months 2021. The brand new plan is being launch by maintaining tax saving season in thoughts. The plan is anticipated to be launched on 22nd Feb, 2021. LIC Bima Jyoti is Non-linked, Non- taking part, restricted premium endowment plan. The assured addition on this plan is already introduced by LIC. LIC Bima Jyoti Plan 860 will give 50 Rs per thousand assured additions.

LIC Bima Jyoti offers life cowl throughout the coverage time period and sum assured and bonus on survival as maturity. This plan might be bought offline in addition to on-line.

LIC Bima Jyoti Plan

LIC Bima Jyoti Plan 860 Eligibility

Minimal Entry Age90 days (accomplished)
Most Entry Age    60 years (nearer birthday)
Coverage Time period15 years to twenty years
Premium Paying Time period5 years lower than coverage time period
Premium Paying ModeYearly, Half Yearly, (Quarterly and Month-to-month – ECS Solely)
Sum Assured1 Lakh and above
Minimal age at Maturity18 years
Most age at Maturity75 years
MortgageAfter 2 Years
Give upAfter 2 Years
RevivalInside 5 Years from FUP

Key Options

  • Premium paying time period is 5 years lower than coverage time period.
  • No bonus is obtainable towards this plan as a substitute fastened assured addition at fee of Rs.50 per thousand fundamental sum assured supplied at finish of every coverage 12 months.
  • On maturity sum assured together with Assured additions is given to coverage holder.
  • Choices for added time period rider is offered. You will get unintended, incapacity and significant sickness rider.
  • Mortgage possibility is obtainable after 2 years
  • Settlement possibility out there for maturity and loss of life advantages in installment 5, 10 and 15 years

LIC Bima Jyoti Plan 860 Advantages

Maturity Profit

On the life assured surviving to the top of the coverage time period, Sum Assured on Maturity together with accrued Assured Additions, shall be payable. The place sum assured on maturity is the same as fundamental sum assured.  


Age 20 years, Coverage Time period 20 years

Premium Paying time period in above case can be 15 years.

Sum assured – 10 Lakh

Maturity Quantity – Sum Assured + Assured Additions

Assured Addition is fastened Rs.50 /1000 Sum assured yearly.

1 Lakh Sum Assured = 5000 Assured Addition

10 Lakh Sum Assured = 50000 Assured Addition

20 Years = (50000 x 20 years) = 10 Lakh Assured Addition

Loss of life Profit

On loss of life throughout the coverage time period Sum Assured on Loss of life together with accrued Assured Additions
The place Sum Assured on Loss of life is outlined as the upper of 125 % of Primary Sum Assured or 7 instances of annualized premium.


Age 20 years, Coverage Time period 20 years

Sum Assured – 10 Lakh

Loss of life of Coverage Holder at 30 Years (Throughout coverage time period)

Loss of life Profit = Sum assured + Assured additions

Sum assured in above case can be 125% of fundamental sum assured or 7 instances of annualized premium whichever is larger.

In above case loss of life profit can be 10 x 125% + (50000 x 10 years) = 12.5 Lakh + 5 Lakh = 17.5 Lakh

Different Advantages

Mortgage Facility – After 2 years

Give up – After 2 years

Coverage Revival – Inside 5 years

Grace interval – 15 days for month-to-month mode, 30 days for some other mode

Tax profit – Premium underneath part 80C

Maturity / Loss of life Profit – Exempt underneath part 10(10D)

LIC Bima Jyoti Plan 860 – Evaluation

Bima Jyoti is endowment plan. It’s non- linked and non-participating plan. The principle good thing about this plan is assured addition. The coverage won’t supply any bonus.

On doing calculation it appears to be enticing. The premium element of plan is just not but recognized however general assured addition can be 5% solely. This implies you’re going to get return lower than fastened deposit.

So if you’re planning to buy this product as insurance coverage product you need to keep away from it and buy time period plan. From funding standpoint additionally you need to keep away from this plan.