LIC Protection Plus
Estimate the indicative premium, death benefit, and maturity value for LIC’s Protection Plus Plan 886 – a non-linked, non-participating, individual, savings, life insurance plan
Plan Configuration
Plan Summary
Single Premium (Approx.)
Death Benefit
Maturity Benefit (Estimated)
Total Premium Paid
Benefit Visualization
The LIC Protection Plus Calculator helps you estimate your premium, expected fund value, maturity amount, and life insurance cover under LIC Protection Plus (Plan 886). Instead of doing manual calculations, this online calculator provides a quick estimate based on the information you enter.
Since LIC Protection Plus Plan 886 is a Unit Linked Insurance Plan (ULIP), your returns depend on the performance of the fund you choose. Unlike traditional LIC plans, the maturity amount is not guaranteed and may increase or decrease according to market conditions.
Whether you are planning for long-term wealth creation, family protection, or retirement savings, this calculator can help you understand how your investment may grow over time.
Quick Highlights of LIC Protection Plus Plan 886
| Feature | Details |
|---|---|
| Plan Name | LIC Protection Plus |
| Plan Number | 886 |
| Plan Type | Non-Par, Linked, Individual Savings Plan (ULIP) |
| Category | Life Insurance + Investment |
| UIN | Check the latest LIC brochure |
| Premium Type | Regular Premium |
| Entry Age | As per LIC rules |
| Maximum Entry Age | As per LIC rules |
| Policy Term | Multiple options available |
| Premium Paying Term | Equal to Policy Term |
| Minimum Premium | As per LIC rules |
| Maximum Premium | No fixed upper limit, subject to underwriting |
| Fund Options | Multiple investment funds |
| Partial Withdrawal | Available after lock-in period |
| Top-up Premium | Available |
| Fund Switching | Allowed |
| Online Purchase | Available through LIC |
| Tax Benefits | Eligible under applicable Income Tax provisions |
| Riders | Available as per plan rules |
What is LIC Protection Plus Plan 886?
LIC Protection Plus Plan 886 is a Non-Participating, Linked, Individual Savings Plan, also known as a Unit Linked Insurance Plan (ULIP).
It combines two important financial goals:
- Life insurance protection
- Market-linked investment
A part of your premium provides life insurance cover, while the remaining amount is invested in market-linked funds selected by you.
LIC Kavach Plan 887 Calculator – Term Insurance Premium Calculator
Because it is a ULIP, your money is invested in financial markets. The value of your investment changes according to market performance.
Unlike traditional endowment plans, this plan does not offer guaranteed bonuses. Your maturity value depends on the performance of your chosen fund.
How Does a ULIP Work?
A ULIP works by dividing your premium into two parts.
Insurance Cover
One portion of your premium provides financial protection to your family.
Investment
The remaining premium is invested in funds such as equity, debt, or balanced funds. Your fund value increases or decreases based on market performance. If markets perform well over the long term, your investment may grow significantly.
If markets perform poorly, your returns may also be lower.This is why ULIPs are generally considered suitable for long-term financial planning.
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Who Should Buy LIC Protection Plus Plan 886?
This plan may be suitable for:
- Young professionals
- Salaried employees
- Self-employed individuals
- First-time investors
- Parents planning future savings
- Long-term wealth creators
- Investors seeking life insurance with market-linked growth
It may not be suitable for people looking for guaranteed maturity benefits.
LIC Protection Plus Calculator
The LIC Protection Plus Calculator helps estimate your policy values before purchasing the plan.
Instead of performing complicated calculations manually, the calculator estimates future values instantly.
Calculator Inputs
The calculator asks for the following details.
| Input | Description |
|---|---|
| Age | Current age of the policyholder |
| Gender | Male or Female |
| Smoking Status | Smoker or Non-Smoker |
| Annual Premium | Amount paid every year |
| Premium Payment Term | Number of years you pay premium |
| Policy Term | Total policy duration |
| Basic Sum Assured Multiple | Selected insurance cover multiple |
| Premium Frequency | Yearly, Half-Yearly, Quarterly or Monthly |
| Fund Option | Equity, Balanced, Bond or other available funds |
| Expected Return | 4% or 8% illustration |
| Top-up Premium | Optional additional investment |
| Purchase Mode | Online or Offline |
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Calculator Results
After entering the information, the calculator estimates:
- Annual Premium
- Total Premium Paid
- Basic Sum Assured
- Estimated Fund Value
- Estimated Maturity Value
- Estimated Death Benefit
- Policy Charges
- Refund of Mortality Charges (if applicable under plan rules)
- Total Investment
- Estimated Wealth Created
How to Use the LIC Protection Plus Calculator
Follow these simple steps to estimate your premium and benefits:
- Enter Your Age – Select your current age to calculate the premium accurately.
- Choose Your Gender – Select either Male or Female.
- Select Smoking Status – Choose whether you are a smoker or a non-smoker.
- Enter the Annual Premium – Input the amount you plan to pay each year.
- Select the Premium Payment Term – Choose the number of years you want to pay premiums.
- Choose the Policy Term – Select how long you want the policy to remain active.
- Select the Sum Assured Multiple – Choose the life cover amount based on your premium.
- Choose Your Investment Fund – Select the fund option that matches your investment goals and risk tolerance.
- Select the Expected Return Illustration – Choose the projected return rate (such as 4% or 8%) to estimate the fund value.
- Click the “Calculate” Button – The calculator will instantly display the estimated annual premium, total premium paid, projected fund value, estimated maturity amount, and death benefit.
Sample Premium Calculation
Illustration only. Actual values depend on LIC rates, fund performance, policy charges, and market conditions. These examples are not guaranteed.
| Age | Annual Premium | Policy Term | Expected Return | Estimated Maturity | Estimated Death Benefit |
|---|---|---|---|---|---|
| 25 Years | ₹50,000 | 25 Years | 8% | ₹39–44 Lakh* | Higher of applicable death benefit under plan terms |
| 35 Years | ₹75,000 | 20 Years | 8% | ₹36–42 Lakh* | Higher of applicable death benefit under plan terms |
| 45 Years | ₹1,00,000 | 15 Years | 4% | ₹20–25 Lakh* | Higher of applicable death benefit under plan terms |
*Illustrative estimates only. Actual fund value depends on market performance and applicable charges.
Benefits of LIC Protection Plus Plan 886
1. Life Insurance Protection
The plan provides financial support to your family if the life assured dies during the policy term, subject to the plan’s terms and conditions.
2. Market-Linked Wealth Creation
Your investment has the potential to grow through exposure to market-linked funds.
3. Multiple Investment Funds
You can choose from different fund options according to your risk appetite.
4. Top-up Premium Facility
You can invest additional money through top-up premiums, subject to plan rules.
5. Partial Withdrawal
After the applicable lock-in period, eligible partial withdrawals can help meet financial needs without surrendering the policy.
6. Fund Switching
You can switch between eligible funds to align with changing market conditions or your investment goals.
7. Tax Benefits
Premiums and eligible benefits may qualify for tax benefits under the applicable provisions of the Income Tax Act, subject to prevailing laws.
8. Long-Term Financial Planning
The plan encourages disciplined investing over a long period.
9. Flexibility
You can choose the premium amount, policy term, and investment fund according to your financial goals.
10. Online Monitoring
Policyholders can monitor fund performance and policy details through LIC’s online services.
Available Fund Options
The available fund choices may include options such as:
| Fund Type | Suitable For |
|---|---|
| Equity Fund | Investors seeking higher long-term growth with higher market risk |
| Balanced Fund | Investors looking for a balance between growth and stability |
| Bond Fund | Conservative investors seeking relatively stable returns |
| Money Market Fund | Investors preferring lower volatility and higher liquidity |
The actual fund options available under the plan should be confirmed from the latest LIC product brochure.
Death Benefit Under LIC Protection Plus Plan 886
One of the biggest advantages of LIC Protection Plus Plan 886 is the financial protection it offers to your family. If the life assured passes away during the policy term while the policy is in force, LIC pays the death benefit according to the plan’s terms and conditions.
Since this is a Unit Linked Insurance Plan (ULIP), the death benefit is determined based on the applicable policy provisions. The payout generally considers the Basic Sum Assured and/or the Fund Value, depending on the policy rules in force at the time of the claim.
Example of LIC Protection Plus Plan 886
| Details | Value |
|---|---|
| Age | 30 Years |
| Annual Premium | ₹50,000 |
| Policy Term | 25 Years |
| Fund Value at Death | ₹8,20,000 (Illustrative) |
| Death Benefit | As payable under LIC Plan 886 policy terms |
Note: The actual claim amount depends on the policy conditions, fund value, premium paid, and applicable LIC rules.
Maturity Benefit
If the life assured survives until the end of the policy term, the policy pays the Fund Value accumulated in the selected investment funds.
Unlike traditional LIC endowment plans, LIC Protection Plus does not offer guaranteed maturity benefits.
Your maturity amount depends on:
- Premium paid
- Policy duration
- Investment fund selected
- Market performance
- Policy charges deducted
- Top-up premiums (if any)
- Fund switches during the policy term
Illustration
| Premium | Policy Term | Expected Return* | Estimated Fund Value |
|---|---|---|---|
| ₹50,000 | 20 Years | 4% | ₹17–20 Lakh |
| ₹50,000 | 20 Years | 8% | ₹23–28 Lakh |
*Illustrative assumptions only. These are not guaranteed returns.
Partial Withdrawal Rules
LIC Protection Plus offers a partial withdrawal facility subject to the policy conditions.
This feature allows you to withdraw part of your accumulated fund value without closing the policy.
Key Points
- Available after the applicable lock-in period.
- Minimum withdrawal limits apply.
- Sufficient fund value must remain after withdrawal.
- The policy continues if all conditions are met.
Partial withdrawal can help during financial emergencies such as:
- Children’s education
- Medical expenses
- Home renovation
- Marriage expenses
Eligibility Criteria
| Particular | Details |
|---|---|
| Plan | LIC Protection Plus |
| Plan Number | 886 |
| Plan Type | Non-Par, Linked, Individual Savings Plan (ULIP) |
| Entry Age | As per LIC rules |
| Maximum Entry Age | As per LIC rules |
| Policy Term | Multiple options |
| Premium Paying Term | Equal to Policy Term |
| Premium Mode | Yearly, Half-Yearly, Quarterly, Monthly (as applicable) |
| Sum Assured | As per LIC guidelines |
Documents Required
Generally, the following documents are required while purchasing the policy:
- Aadhaar Card
- PAN Card
- Passport-size Photograph
- Address Proof
- Income Proof (where required)
- Bank Account Details
- Cancelled Cheque
- Age Proof
- Mobile Number
- Email ID
LIC may request additional documents depending on underwriting requirements.
How to Buy LIC Protection Plus Plan 886
Online
- Visit LIC’s official website.
- Select the Protection Plus Plan.
- Use the premium calculator.
- Fill in your personal details.
- Upload the required documents.
- Complete the payment process.
- Receive the policy confirmation.
Offline
You can also purchase the plan through:
- LIC Branch Office
- LIC Agent
- Development Officer
- Authorized LIC Sales Representative
Comparison Table
| Feature | LIC Protection Plus (886) | LIC Bima Kavach (887) | LIC Tech Term |
|---|---|---|---|
| Plan Type | ULIP | Pure Term | Pure Term |
| Life Cover | ✔ | ✔ | ✔ |
| Investment | ✔ | ✘ | ✘ |
| Market Linked | ✔ | ✘ | ✘ |
| Maturity Benefit | Fund Value | No (unless applicable option chosen) | No |
| Risk Level | Moderate to High | Low | Low |
| Premium | Moderate | Lower | Lower |
| Tax Benefits | ✔ | ✔ | ✔ |
| Best For | Insurance + Wealth Creation | Affordable Protection | Online Term Insurance |
Advantages of LIC Protection Plus Plan 886
- Combines insurance and investment.
- Market-linked growth potential.
- Multiple fund choices.
- Long-term wealth creation.
- Top-up investment facility.
- Partial withdrawal option.
- Fund switching flexibility.
- Life insurance protection.
- Online policy tracking.
- Eligible tax benefits under applicable laws.
Limitations
- Returns are not guaranteed.
- Investment is subject to market risk.
- Policy charges reduce the invested amount.
- Short-term investment may not be suitable.
- Fund performance may fluctuate.
- Requires long-term commitment.
- Premium payment discipline is important.
- Tax treatment depends on prevailing laws.
Who Should Buy LIC Protection Plus Plan 886?
This plan may be suitable for:
- Young professionals starting financial planning.
- Salaried employees looking for insurance with investment.
- Self-employed individuals seeking long-term wealth creation.
- Parents planning future financial goals.
- Investors comfortable with market-linked returns.
- People who want both life insurance and investment in a single plan.
It may not be suitable for investors who prefer fixed or guaranteed returns.
What is LIC Protection Plus Plan 886?
It is a Unit Linked Insurance Plan (ULIP) that combines life insurance with market-linked investment.
Is LIC Protection Plus a ULIP?
Yes. It is a Non-Par, Linked, Individual Savings Plan.
Does the plan provide guaranteed returns?
No. Returns depend on the performance of the selected investment fund.
What does the calculator estimate?
It estimates premium, fund value, maturity amount, and death benefit for illustration purposes.
Is the calculator accurate?
It provides estimates based on your inputs. Actual values depend on LIC’s policy terms, applicable charges, and market performance.
Can I switch funds?
Yes, subject to the plan’s rules.
Is partial withdrawal available?
Yes, after the applicable lock-in period and subject to policy conditions.
What is a top-up premium?
It is an additional investment you can make over and above the regular premium.
Is there life insurance coverage?
Yes. The plan includes life insurance protection.
Can I buy the plan online?
Yes, if it is available through LIC’s official online purchase channels.
Conclusion
The LIC Protection Plus Calculator (Plan 886) is a useful planning tool for anyone considering this ULIP. It helps you estimate premiums, projected fund value, maturity amount, and life cover based on your inputs. While these estimates can support your decision-making, remember that ULIP returns are market-linked and not guaranteed.
Before purchasing the policy, compare the premium, available fund options, policy charges, and benefits with your financial goals. Reviewing the latest LIC product brochure and consulting a qualified financial advisor can help you make an informed decision.
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