LIC New Pension Plus 867

By | September 15, 2022

LIC New Pension Plus ULIP Plan 867 – Benefits, Features, Parameter and Review – Full details with Example


LIC New Pension Plus 867 is the third ULIP scheme launched by LIC Of India in between year 2020 to 2022. LIC has launched this plan from 5th September, 2022. LIC’s New Pension Plus 867 is a Single Premium and regular premium, Non-Participating, Unit Linked, Individual Life Insurance plan which offers insurance cum investment during the term of the policy.

The plan indicates that LIC would provide guaranteed additions between 5% to 15.5% of yearly premium or single premium.

LIC New Pension Plus 867 full details
LIC New Pension Plus 867
What is LIC Pension Plus ULIP plan 867?

LIC New Pension Plus plan launched – Guaranteed income after retirement and up to 15% additional benefit. LIC New Pension Plus Plan 867 is suitable for young persons to make provisions for happy retirement.

The scheme new pension plus 867” is also available in online and offline modes. You can invest in four different fund options as per this plan.

Also Read ThisLIC Best pension for life time know more…..

LIC New Pension Plus 867 – Key Features

  • LIC New Pension Plus 867 is single and regular premium policy with single, monthly, quarterly, half yearly and yearly saving option.
  • You can select from 4 different fund options bond, secured, balanced and growth.
  • Switching is allowed between all four funds 4 times in a year.
  • 10% to 25% of the fund value can be withdrawn as partial withdrawal.
  • You can partial withdrawal money after 5th years onward.
  • Guaranteed addition offered in addition to unit fund value.
  • The facility of surrender is available after the lock-in period of 5 years.

LIC New Pension Plus 867 – Eligibility/Parameter

Minimum entry age 25 years
Maximum entry age 75 years
Minimum maturity age 35 years 
Maximum maturity age 85 years
Policy term 10 years to 42 years
Minimum Premium For Single Premium:
Rs. 1,00,000
For Regular Premium:
Rs. 3,000 monthly
Rs. 9,000  half yearly
Rs. 16,000 quarterly
Rs. 30,000 yearly
Maximum Premium No Limit
Lock in period 5 years

Benefits of LIC new pension plus 867


Death Benefits

On death after the Date of Commencement of Risk: An amount equal to the highest of the following shall be payable.

  1. Unit Fund Value; or
  2. 105% of the total premiums received (less partial withdrawals) whichever is higher.

Also Read ThisLIC’s New Single Premium ULIP Plan 849

Maturity Benefit

  • Benefits payable on maturity: On Life Assured surviving the stipulated Date of Maturity 60% is eligible for commutation and rest 40% can be converted into annuity.

Guaranteed Additions

Guaranteed additions as a percentage of one annualized premium as mentioned in the table below shall be added to the Unit Fund on completion of specific duration of policy years.

Guaranteed Additions – For regular premium policy

End of Policy YearGuaranteed Additions (as percentage of annualized Premium)
6th year5%
10th year10%
11-15 years4% every year
16-20 years5.5% every year
21-25 years7% every year
26-30 years8.75% every year
31-35 years10.75% every year
36-40 years13% every year
41-42 years15.5% every year
Guaranteed Additions for regular premium in LIC new pension plus 867

Guaranteed Additions – For single premium policy

End of Policy YearGuaranteed Additions (as percentage of single Premium)
6th Year4%
10th Year5%
11-15 years1.25% every year
16-20 years1.5% every year
21-25 years2% every year
26-30 years2.5% every year
31-35 years3% every year
36-40 years3.75% every year
41-42 years4.5% every year
Guaranteed Additions for single premium in LIC new pension plus 867

Also Read this : Invest 10K per month & Get Rs 1 Cr returns

Investment Fund Types

There are 4 funds available in LIC Plan 867.

(1) Bond Fund
Investment in Govt Securities / Corporate Debt – 60% to 100%
Short Term investments incl money market instruments – 0% to 40%.
The risk profile is Low Risk.
(2) Secured Fund
Investment in Govt Securities / Corporate Debt – 45% to 85%.
Short Term investments incl money market instruments – 0% to 40%.
Investment in Equity – 15% to 55%.
The risk profile is Lower to Medium Risk.
(3) Balanced Fund
Investment in Govt Securities / Corporate Debt – 30% to 70%
Short Term investments incl money market instruments – 0% to 40%.
Investment in Equity – 30% to 70%
The risk profile is Medium Risk.
(4) Growth Fund
Investment in Govt Securities / Corporate Debt – 20% to 60%
Short Term investments incl money market instruments – 0% to 40%.
Investment in Equity – 40% to 80%
The risk profile is High Risk.
Investment Fund Types in LIC new pension plan 867

LIC New Pension Plus Plan 867 with an Example

To Illustrate the benefits of LIC New Plan 867, Let’s take an example of a person who is purchasing LIC pension plus plan 867 with following details.

Regular Premium
Basic Premium GST (@ 0%) Total Premium

1,00,000

Nil

1,00,000

Age 30 Years
Policy Term 21 Years
Policy Purchase Year 2022

Maturity Details

If policy holder survives the policy term ( i.e. 21 years ), Maturity will be as under.

Maturity YearMaturity AgeMaturity Amount
(approx)
20435161,85,851
AgePremiumNAVNormal RiskSurrender Value
341000001010000000
351000001110000000
3610000012.110000000
3710000013.3110000000
3810000014.6410000000
3910000016.11000000721791
4010000017.711000000895970
4110000019.4810825171082517
4210000021.4312878801287880
4310000023.5715134871513487
4410000025.9317720291772029
4510000028.5220460272046027
4610000031.3723474862347486
4710000034.5126794592679459
4810000037.9630443273044327
4910000041.7634610813461081
5010000045.9439045203904520
5110000050.5343916324391632
5210000055.5849275354927535
5310000061.1455174665517466
5410000067.2561858516185851
Maturity (Fund Value)    =61,85,851
LIC New Pension Plus Plan 867 with an Example

At the time of maturity you have to opt your fund value for a pension, then up to 60% commutation is possible. But the remaining 40% can be converted into an annuity.

Read Also :  LIC’s NEW ENDOWMENT PLANS GIVEN BELOW:

LIC New Endowment Plan 914

LIC New Jeevan Anand 915

LIC New Jeevan Lakshya 933

LIC New Jeevan Labh Endowment 936

LIC New Jeevan Umang Plan 945

Also Read this : Invest 10K per month & Get Rs 1 Cr returns

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