LIC Protection Plus Plan 886 Calculator
Instantly calculate the maturity value and growth for LIC's Protection Plus ULIP plan. Estimate your refund of mortality charges (RMC) and compare returns for Online vs Offline modes.
Last Updated: February 4, 2026
Input Details
How to Use
1
Input Details
Select Payment Mode (Monthly/Yearly), Age, and Amount.
2
Select Terms
Choose Payment Term (5-15 Yrs) and Policy Term.
3
Optimize Cover
Adjust Life Cover Multiplier. (Lower cover = Higher Returns).
4
Calculate
See maturity estimates, charges, and mortality refund.
1. Policy Eligibility & Terms
LIC’s Protection Plus (Table 886) is a Unit Linked Insurance Plan offering market-linked returns with life insurance cover. Key eligibility criteria:
| Parameter | Details |
|---|---|
| Entry Age | Min: 90 Days (Completed) Max: 65 Years (Last Birthday) |
| Maturity Age | Min: 18 Years Max: 85 Years |
| Policy Term (PT) | 10 to 30 Years |
| Premium Paying Term (PPT) | Limited Pay: 5, 7, 10, 15 Years |
| Min Premium | Monthly: ₹3,000 | Yearly: ₹36,000 (15yr PPT) / ₹60,000 (Others) |
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2. Death Benefit Explained
In case of the unfortunate demise of the policyholder during the policy term, the nominee will receive the HIGHEST of the following three amounts:
- Basic Sum Assured: The life cover amount chosen at inception (e.g., 10x Annual Premium).
- Fund Value: The current market value of the investment units.
- 105% of Total Premiums Paid: A safety net ensuring at least slightly more than the principal is returned.
Note: The policy terminates after the death benefit is paid.
3. Investment Funds
You can switch between these funds 4 times a year for free to manage risk.
| Fund Name | Risk Profile | Asset Allocation |
|---|---|---|
| Bond Fund | Low Risk | Debt/Govt Securities (Min 60%) |
| Secured Fund | Low-Medium | Equities (15-55%), Debt (45-85%) |
| Balanced Fund | Medium | Equities (30-70%), Debt (30-70%) |
| Growth Fund | High | Equities (40-80%), Debt (20-60%) |
| Flexi Growth | Very High | 100% Equity (Nifty 100 Index) |
| Flexi Smart | Very High | 100% Equity (Nifty 50 Index) |
4. Charges & GST
A. Premium Allocation Charge (Deducted from Premium)
| Year | Offline (Agent) | Online (Direct) |
|---|---|---|
| 1st Year | 8.00% | 3.00% |
| 2nd - 5th Year | 5.50% | 2.00% |
| 6th Year Onwards | 3.00% | 1.00% |
B. Other Charges (Deducted from Units)
- Fund Management (FMC): 1.35% p.a. of Fund Value.
- Policy Admin Charge: NIL for first 5 Years. Starts 6th Year (Approx ₹100/mo, Cap ₹500).
- Mortality Charge: Deducted monthly based on Age and Sum at Risk.
- GST: 18% GST applies to ALL charges above.
5. Liquidity: Withdrawals & Surrender
Partial Withdrawals
- Allowed after 5 full policy years.
- Min withdrawal: ₹5,000.
- Max withdrawal depends on year (e.g., 20-25% of fund).
- Does not reduce the Basic Sum Assured (for Age < 58).
Surrender / Discontinuance
- Before 5 Years: Fund moves to "Discontinued Policy Fund" (earning 4%). Paid out after 5 years lock-in.
- After 5 Years: Can surrender immediately for full Fund Value.
6. Pros & Cons
Pros (Advantages)
- 100% RMC Refund: Mortality charges returned at maturity.
- No Admin Charge: For the first 5 years.
- High Cover: Up to 40x Sum Assured available.
- Top-up Facility: Add funds (Min ₹1000) with 1.25x Cover.
- Tax Free: Maturity under Sec 10(10D) if annual premium < ₹2.5 Lakhs.
Cons (Risks)
- Market Risk: Returns depend on stock/debt markets.
- Lock-in: 5 Years mandatory lock-in period.
- No Loans: Loan facility is not available.
FAQs
Q1: Can I pay premiums monthly in Plan 886?
Yes, the Protection Plus plan supports Monthly (NACH) mode. The minimum monthly premium amount is ₹3,000.
Q2: What is the Maximum Sum Assured limit?
It depends on Age and PPT. For PPT 15 years (Age 18-30), you can choose up to 40 times the premium. Higher cover ensures family safety but may slightly reduce maturity fund.
Q3: When is partial withdrawal allowed?
Partial withdrawals are permitted after 5 complete policy years are over. You can withdraw a specific percentage of the fund value without surrendering the policy.
Q4: What is the death benefit in this LIC ULIP?
The nominee receives the highest of: 1) Basic Sum Assured, 2) Current Fund Value, or 3) 105% of Total Premiums Paid till date.
Q5: Is GST applicable on premiums?
Yes. 18% GST is levied on various charges (Allocation, Admin, Mortality). GST amount paid is not part of the investment fund.