LIC Bima Lakshmi Plan 881 is a new women-oriented guaranteed savings plus protection plan from LIC, with fixed 25-year term, limited premium payment and assured money-back plus maturity benefits. Using an online LIC Bima Lakshmi Plan 881 calculator helps you easily estimate premium, survival benefits, and maturity amount before buying the policy.

What is LIC Bima Lakshmi Plan 881?

LIC Bima Lakshmi Plan 881 is a non-linked, non-participating, limited premium money-back plan designed only for female lives. It combines long-term savings, periodic money-back payouts, guaranteed additions and life cover for the full 25-year policy term.

This plan can be bought online from LIC’s official website or offline through LIC agents and branch offices. The policy is suitable for women who want guaranteed returns with disciplined savings along with protection for their family.

Launch date and other key facts

• LIC’s Bima Lakshmi (Plan 881) was officially launched on 15 October 2025, as announced in LIC’s press release for new plans Jan Suraksha (880) and Bima Lakshmi (881).
• As of January 2026, no official withdrawal/closing date has been declared; the plan is available for sale through LIC’s channels.

Important external references for authentic details:

• Official LIC product page: https://licindia.in/lic-s-bima-lakshmi-881-512n389v01
• LIC press release (launch): https://licindia.in/press-release

Main features of LIC Bima Lakshmi 881

• Plan Type: Non-linked, non-participating, limited premium, money-back savings and protection plan for women.
• Policy Term: Fixed at 25 years for all policies.
• Premium Paying Term (PPT): Flexible – can choose between 7 to 15 years at the time of purchase.

Other important features include:

• Guaranteed Additions at a fixed percentage of annual premium for each completed policy year during PPT, provided policy is in force.
• Three survival benefit (money-back) options – A, B and C – to choose how and when to receive periodic payouts.​
• Optional riders such as Female Critical Illness Rider and Accident Benefit Rider for extra protection by paying additional premium.

Eligibility, entry age and basic parameters

According to LIC and major insurance portals, these are the broad eligibility criteria for Bima Lakshmi 881 (exact limits should always be rechecked in official brochure/LIC portal):

• Who can buy: Female lives only (women-oriented plan).
• Minimum Sum Assured: Usually starts from ₹2,00,000.
• Maximum Sum Assured: No upper limit, subject to underwriting and income proof.
• Entry Age: Lower minimum age is 8 or 18 years depending on source; many calculator sites use 18–50 years for calculator convenience, while some technical blogs mention 8–55 years (depending on PPT).
• Maximum Maturity Age: Up to around 80 years (nearest birthday).

Because age limits can vary slightly by PPT and underwriting, always cross-check on LIC’s official product page or brochure before finalizing any proposal.

Benefits of LIC Bima Lakshmi Plan 881

1. Survival (money-back) benefits

During the 25-year term, the life assured receives money-back survival benefits based on the option selected at inception.

• In Option A, 50% of Basic Sum Assured is paid at the end of the premium paying term as a lump sum survival benefit.
• In Options B and C, fixed percentages of Basic Sum Assured are paid at specified policy years (for example, at multiple intervals) as per schedule in the brochure; these options suit those who want cash flows at different stages.

Once chosen, the survival benefit option cannot be changed later, so selection should match the policyholder’s future financial needs.

2. Maturity benefit

If the life assured survives till the end of the 25-year term and all due premiums have been paid, LIC pays:

• Sum Assured on Maturity (which is equal to the Basic Sum Assured), plus
• All accrued Guaranteed Additions.

This makes the plan work like a long-term wealth-creation plus protection tool, especially when combined with the periodic money-back payouts in between.

3. Death benefit

If the life assured dies during the policy term and the policy is in force, the nominee gets:

• Sum Assured on Death (as defined in the policy, generally higher of certain multiples of annual premium or Basic Sum Assured), plus
• Accrued Guaranteed Additions up to the policy year of death.

The total death benefit will not be less than 105% of total premiums paid (excluding taxes, rider premiums and extra loadings) as on the date of death.

4. Guaranteed Additions

Guaranteed Additions accrue at a fixed rate (for example, 7% of the annualized premium per completed policy year during PPT) provided the policy is in force.

• These additions increase the total maturity and death benefit amounts, making returns more predictable compared to market-linked plans.​
• For paid-up policies, Guaranteed Additions are reduced proportionately as per paid-up conditions described in the brochure.

Riders available under Bima Lakshmi 881

LIC allows adding certain riders to enhance protection, for extra premium:

• LIC’s Accidental Death and Disability Benefit Rider: Provides additional lump sum in case of accidental death and instalment benefits plus premium waiver on accidental disability (subject to rider terms).
• LIC’s New Term Assurance Rider (if available as per brochure): Gives extra pure risk cover over and above the base sum assured.
• LIC’s Female Critical Illness Rider: Special rider for specified female-related critical illnesses, women’s specific surgeries and pregnancy-related conditions under various modules.

Rider availability, conditions and charges are fully explained in LIC’s official brochure; these may change with regulatory approvals.

How LIC Bima Lakshmi Plan 881 Calculator works

An online LIC Bima Lakshmi 881 calculator helps you estimate premium, money-back schedule and maturity amount based on your input values. It is especially useful for advisors and customers to compare different PPTs and sum assured options before submitting the proposal form.

Inputs generally required

Most calculators (including LIC-focused calculator sites) typically ask for:

• Age of life assured (female)
• Basic Sum Assured (for example, ₹5 lakh, ₹10 lakh, etc.)
• Premium Paying Term (7 to 15 years)
• Survival Benefit Option (A, B, or C)
• Premium payment mode (yearly, half-yearly, quarterly, monthly, if supported)

Some advanced calculators may also allow entry of GST rate, rider selection and expected Guaranteed Additions rate to show more detailed breakup.

Outputs generally shown

Once you fill the details, a typical Bima Lakshmi 881 calculator will show:

• Approximate yearly or mode-wise premium payable (excluding and including GST)
• Survival benefit (money-back) amounts and their policy years
• Estimated Guaranteed Additions over the PPT
• Maturity benefit (Basic Sum Assured + accrued Guaranteed Additions)
• Total benefits (sum of all money-back payouts plus maturity)

These figures are illustrative, and final values are always as per LIC’s official quotation/illustration at the time of proposal.

Step-by-step: using a Bima Lakshmi 881 Calculator

1. Collect basic details: Age (nearest birthday), desired Basic Sum Assured, and how many years you can comfortably pay premium (PPT 7–15 years).
2. Choose survival benefit option (A, B, or C) based on whether you want a big lump sum after PPT or multiple payouts at intervals.
3. Open a reliable calculator: For example, a dedicated LIC Bima Lakshmi Plan 881 calculator page on trusted insurance calculator websites.
4. Enter inputs: Fill age, sum assured, PPT, option, and premium mode, then click “Calculate” or similar button.
5. Study results: Check annual premium, survival benefit schedule, maturity amount and total benefit; adjust inputs (sum assured/PPT) to match your budget and goals.
6. Cross-check with LIC illustration: Before buying, always get the official LIC benefit illustration printout or PDF to confirm exact premium and benefits.

Example illustration (simplified)

Below is a sample-style structure (not actual LIC quotation) just to show how benefits can be distributed in a Bima Lakshmi plan; real figures will differ and must always be taken from an official illustration or a properly coded calculator.

Sample scenario assumptions

• Age of Life Assured: 35 years (female)
• Basic Sum Assured: ₹10,00,000
• Premium Paying Term: 7 years
• Policy Term: 25 years (fixed)
• Option chosen: Option C (multiple survival benefits)

An expert blog example shows a case where total survival benefits over the term are ₹9,00,000, estimated Guaranteed Additions around ₹54,04,786, giving maturity of ₹64,04,786 and total benefits of about ₹73,04,786 in that illustration for a 10 lakh BSA. Those figures are based on specific assumptions and must not be used as universal projection for all policies.

Important policy conditions

Paid-up and surrender

• After payment of at least the minimum number of premiums (typically at least one full year), if you stop paying premiums, the policy can become a paid-up policy with reduced benefits, instead of lapsing completely.
• Surrender value becomes available after the policy acquires paid-up status; LIC pays higher of Guaranteed Surrender Value or Special Surrender Value.

Policy loan

• Policy loan may be available after payment of minimum required full years’ premiums (commonly 3 years), subject to LIC’s prevailing loan interest rate.
• The loan amount depends on the surrender value, and interest must be repaid as per LIC’s rules to keep the policy in force.

Revival and termination

• A lapsed policy can generally be revived within 5 years from the date of first unpaid premium, by paying all arrears with interest and fulfilling health/insurability requirements.
• Policy terminates on payment of death benefit, maturity benefit, surrender value or if not revived within the revival period.

Suicide clause

If the life assured commits suicide within 12 months from the date of commencement of risk or revival, benefits are restricted; normally only a percentage of premiums paid or available surrender value is refunded as per policy conditions.​

Key parameters table – LIC Bima Lakshmi 881

Below table gives an easy snapshot of some main parameters; refer to LIC brochure for exact latest terms:

Feature	Details (Indicative)
Plan Name	LIC’s Bima Lakshmi (Plan No. 881)
Launch Date	15 October 2025
Target Group	Women (female lives only)
Plan Type	Non-linked, non-participating, limited premium money-back plan
Policy Term	25 years (fixed)
Premium Paying Term (PPT)	7 to 15 years – selectable at inception
Minimum Sum Assured	Around ₹2,00,000 (as per online resources; check official brochure)
Maximum Sum Assured	No fixed upper limit, subject to underwriting
Entry Age (approx range)	About 8/18 years (min) to 50–55 years (max), depending on PPT & official rules
Maximum Maturity Age	Up to around 80 years (nearest birthday)
Survival Benefit Options	Option A, Option B, Option C with different payout patterns
Guaranteed Additions	Fixed percentage of annual premium each completed policy year during PPT​
Riders	Female Critical Illness Rider, Accident Benefit Rider, etc. (optional)
Loan & Surrender	Available after minimum premiums and as per LIC rules

FAQs on LIC Bima Lakshmi Plan 881 & Calculator

Conclusion

LIC Bima Lakshmi Plan 881 is a focused women-only money-back plan that provides a mix of guaranteed savings, regular survival benefits and life cover for a fixed 25-year term. By using a dedicated LIC Bima Lakshmi Plan 881 calculator and cross-checking with LIC’s official benefit illustration, a policyholder can clearly understand premiums, payouts and maturity benefits before investing.