Life Insurance Corporation of India (LIC) has introduced the New Bima Kiran, a life insurance plan tailored to provide both financial protection and savings benefits for policyholders.

What is LIC New Bima Kiran?

LIC New Bima Kiran is a non-linked, non-participating life insurance plan designed to offer dual benefits: protection for the family in case of an unfortunate event during the policy term and return of premiums paid on maturity.

The policy helps policyholders to secure their family’s financial future while also acting as a savings instrument. The policy covers death during the policy term and pays out the sum assured plus loyalty additions, if any. If the policyholder survives the full term, the paid premiums are returned as maturity benefit.

Unique Identification Number (UIN)

Every LIC plan has a unique UIN that identifies it officially for regulatory and documentation purposes. The UIN for LIC New Bima Kiran is 512N207V01. This number is essential to verify the authenticity of the plan and for referencing the plan in official records.

Important Dates: Launch and Withdrawal

The LIC New Bima Kiran plan was launched approximately around early to mid-2023, as per references in LIC official announcements and insurance news platforms. However, it is important to note that insurers periodically update or withdraw plans based on market and regulatory conditions.

According to the latest information till October 2025, LIC New Bima Kiran is currently an active plan and has not been officially withdrawn yet from LIC’s product lineup. It remains available for new policyholders seeking this combination of protection and savings. For ongoing status and future updates on plan availability, customers should consult the official LIC India website or authorized agents.

Key Features of LIC New Bima Kiran

• Policy Term: 25 years
• Premium Paying Term: 25 years (equal to the policy term)
• Minimum Sum Assured: Rs. 1,00,000
• Age Eligibility: Minimum age at entry 35 years, maximum 60 years
• Premium Payment: Regular premiums are payable yearly until the end of the premium paying term
• Maturity Benefit: Total premiums paid (including accident benefit premiums but excluding extra premiums) are returned upon maturity
• Death Benefit: Sum assured plus any loyalty additions payable to beneficiaries in case of policyholder’s death during the term
• Surrender Value: Guaranteed surrender value available after 3 years of policy being in force. The guaranteed surrender value is at least 30% of basic premiums paid excluding first-year premium
• Accident Benefit Cover: In-built accidental death and total permanent disability cover up to Rs. 5,00,000
• Loyalty Additions: Available after 4 policy years subject to Corporation’s discretion based on performance
• Policy Status: Non-linked, non-participating plan (no market fluctuation or bonuses apart from loyalty additions)

Benefits Explained

Financial Protection

In cases where the policyholder dies during the policy term, LIC provides a death benefit comprising the sum assured and loyalty additions. This ensures that the family or nominee receives financial support to meet various expenses.

Savings and Maturity

If the insured survives the policy term (25 years), the plan pays back the total premiums paid, giving a savings benefit in addition to insurance coverage. This makes it a risk-mitigated savings plan, ideal for risk-averse individuals.

Accident Coverage

A unique feature of this plan is the accident benefit, which provides up to Rs. 5,00,000 for accidental death or permanent disability. This additional cover comes “in-built” with the policy.

Surrender Value

Policyholders can surrender the policy after 3 years if they wish to exit early. The guaranteed surrender value offers a portion of the premiums paid back, providing some liquidity to the policyholder.

LIC New Bima Kiran Calculator: What It Is and Why It Matters

The LIC New Bima Kiran Calculator is an online or offline tool that helps potential and existing policyholders estimate the premium amounts they need to pay and project the maturity benefits based on the sum assured, age, and policy term. The calculator ensures transparency and helps in financial planning by allowing customers to see how much they need to invest yearly and what they can expect to get back.

How the Calculator Works

To use the LIC New Bima Kiran Calculator, you generally need to input:

• Your age at entry
• The sum assured or desired coverage amount
• Policy Term (usually fixed at 25 years for this plan)
• Premium paying frequency (yearly, half-yearly, quarterly, or monthly)

The calculator then uses LIC’s official premium rates and actuarial formulas to compute yearly premiums, total premiums paid over the term, and estimated maturity values (premium refund plus any loyalty benefits).

Step-by-Step Guide to Use LIC New Bima Kiran Calculator

1. Visit an Official or Trusted LIC Calculator Platform: Visit LIC’s official website or trusted insurance portals that host LIC calculators.
2. Select LIC New Bima Kiran Plan: Choose LIC New Bima Kiran using its UIN (512N207V01) or from product lists.
3. Input Details: Enter your age, sum assured (minimum Rs. 1,00,000), and payment term (generally 25 years).
4. Choose Payment Mode: Select your premium payment frequency (yearly is recommended for ease).
5. Submit and Calculate: Click calculate to get premium amounts and maturity estimates. Some calculators will also show benefits breakdowns, death benefits, and surrender values.
6. Adjust Inputs if Needed: You can change the sum assured or payment frequency to see how premiums vary.

This tool helps you make informed decisions before buying the policy and assists with budgeting insurance expenses.

Example Calculation

For example, a 35-year-old individual choosing a sum assured of Rs. 1,00,000 with a 25-year policy term might see a yearly premium of approximately Rs. 1,542 (based on available rates) and a maturity benefit equal to the total premiums paid plus any additional loyalty additions. The accidental death cover of up to Rs. 5,00,000 also adds valuable protection.

Advantages of Knowing Your Premiums with a Calculator

• Clear Financial Planning: Knowing your yearly premiums helps budget your finances accordingly.
• Comparison Across Plans: Helps in comparing LIC New Bima Kiran with other LIC or insurance plans.
• Transparency: Eliminates confusion about premiums, riders, and extra charges.
• Avoids Surprises: Understand maturity benefits and surrender values upfront.

Loyalty Additions and Bonus

LIC New Bima Kiran offers loyalty additions after 4 years of policy being in force which are declared at the discretion of LIC based on the plan’s performance and company profits. These additions enhance the maturity amount or death benefits, giving policyholders additional value over the guaranteed returns.

Surrender Value Explained

Policyholders have the option to surrender the plan if they need to exit early. After completing 3 years, the policy acquires a guaranteed surrender value, which is generally at least 30% of basic premiums paid excluding the first year’s premium. Besides, LIC reviews surrender values periodically based on economic conditions.

Important Links for LIC New Bima Kiran

• Official LIC India Plan Details: licindia.in
• LIC New Bima Kiran Plan UIN details: licindia.in (search for UIN 512N207V01)
• LIC Calculator Tools: liccalculators.net or trusted insurance portals
• LIC Customer Care and Branch Locator: licindia.in

Things to Remember Before Investing

• LIC New Bima Kiran is a long-term commitment with a policy term of 25 years.
• It is suitable for individuals seeking both protection and the return of premiums as savings.
• The accidental death benefit adds valuable coverage at no extra cost.
• Always verify premiums with the official LIC calculator or agents before purchase.
• Review policy terms such as age limits and surrender conditions carefully.

Frequently Asked Questions

Conclusion

LIC New Bima Kiran (UIN 512N207V01) is a reliable life insurance plan offered by LIC combining protection and savings. With a fixed 25-year term and premium payment period, the policy provides death benefits during the term and returns paid premiums upon maturity, along with loyalty additions. The in-built accident benefit up to Rs. 5,00,000 enhances its value.