LIC New Pension Plus 867 | Best Policy India

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 5^th 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.

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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.

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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10% to 25% of the fund value can be withdrawn as partial withdrawal.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.

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

Also Read This – LIC’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 Year	Guaranteed Additions (as percentage of annualized Premium)
6th year	5%
10th year	10%
11-15 years	4% every year
16-20 years	5.5% every year
21-25 years	7% every year
26-30 years	8.75% every year
31-35 years	10.75% every year
36-40 years	13% every year
41-42 years	15.5% every year

Guaranteed Additions for regular premium in LIC new pension plus 867

Guaranteed Additions – For single premium policy

End of Policy Year	Guaranteed Additions (as percentage of single Premium)
6th Year	4%
10th Year	5%
11-15 years	1.25% every year
16-20 years	1.5% every year
21-25 years	2% every year
26-30 years	2.5% every year
31-35 years	3% every year
36-40 years	3.75% every year
41-42 years	4.5% every year

Guaranteed Additions for single premium in LIC new pension plus 867

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Investment Fund Types

There are 4 funds available in LIC Plan 867.

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(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 Year	Maturity Age	Maturity Amount (approx)
2043	51	61,85,851

Age	Premium	NAV	Normal Risk	Surrender Value
34	100000	10	1000000	0
35	100000	11	1000000	0
36	100000	12.1	1000000	0
37	100000	13.31	1000000	0
38	100000	14.64	1000000	0
39	100000	16.1	1000000	721791
40	100000	17.71	1000000	895970
41	100000	19.48	1082517	1082517
42	100000	21.43	1287880	1287880
43	100000	23.57	1513487	1513487
44	100000	25.93	1772029	1772029
45	100000	28.52	2046027	2046027
46	100000	31.37	2347486	2347486
47	100000	34.51	2679459	2679459
48	100000	37.96	3044327	3044327
49	100000	41.76	3461081	3461081
50	100000	45.94	3904520	3904520
51	100000	50.53	4391632	4391632
52	100000	55.58	4927535	4927535
53	100000	61.14	5517466	5517466
54	100000	67.25	6185851	6185851
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.

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