Important Notes

• This calculator provides illustrative projections based on assumed fund growth rates.
• LIC Market Plus I Plan 191 is a Unit Linked Pension Plan and returns depend on market performance.
• The policy was withdrawn from new sales on 31 March 2011.
• Investment risk under the plan is borne entirely by the policyholder.
• At vesting, the accumulated fund value is generally utilized for purchasing an annuity or pension plan.
• Actual fund performance, charges, and maturity proceeds may differ from projected estimates.

LIC Market Plus I Plan 191 Calculator

LIC Market Plus I Plan 191 was a Unit Linked Deferred Pension Plan introduced by the Life Insurance Corporation of India (LIC) to help individuals create a retirement corpus through market-linked investments. The plan combined long-term retirement planning with the flexibility of choosing investment funds and optional life insurance protection.

Although the plan is no longer available for purchase, existing policyholders can still use a LIC Market Plus I Plan 191 Calculator to estimate fund value, pension corpus, vesting benefits, and policy performance.

Introduction to LIC Market Plus I Plan 191

LIC Market Plus I was designed primarily as a retirement-oriented ULIP pension product. It allowed policyholders to invest premiums in market-linked funds with the objective of building a substantial retirement fund over the long term.

The plan offered flexibility to choose:

• Regular Premium or Single Premium options
• With Life Cover or Without Life Cover
• Different investment fund options
• Long-term retirement planning strategies

Unlike traditional pension plans that provide fixed returns, LIC Market Plus I offered market-linked growth opportunities through investments in equity and debt-oriented funds.

LIC Market Plus I Plan 191 Overview

Particulars	Details
Plan Name	LIC Market Plus I
Plan Number	191
Plan Type	Unit Linked Deferred Pension Plan
Launch Date	17 June 2008
Withdrawal Date	1 September 2010
Risk Type	Market Linked
Premium Option	Regular Premium and Single Premium
Life Cover Option	Available
Retirement Benefit	Annuity/Pension Purchase at Vesting
Current Status	Withdrawn

Important Dates

Launch Date

LIC officially launched Market Plus I Plan 191 on:

17 June 2008

Withdrawal Date

The plan was subsequently withdrawn from new sales on:

1 September 2010

Although the product is discontinued, policies issued before withdrawal continue according to their original terms and conditions.

Understanding a Unit Linked Deferred Pension Plan

A Unit Linked Deferred Pension Plan combines retirement savings with market-based investment opportunities.

Under this structure:

• Premiums are invested in selected funds.
• Units are allocated based on the prevailing Net Asset Value (NAV).
• Fund value grows or declines according to market performance.
• The accumulated corpus is utilized for retirement income at vesting.

How It Works

Premium Contribution

The policyholder pays either:

• Regular premiums throughout the deferment period, or
• A single lump-sum premium.

Fund Allocation

Premiums are invested in chosen investment funds after deduction of applicable charges.

Market Participation

The value of the investment depends on:

• Equity market performance
• Debt market performance
• Fund management strategy
• NAV movement

Vesting Benefit

At the vesting date, the accumulated fund value becomes available for pension-related benefits according to LIC's prevailing pension rules.

Eligibility Criteria for LIC Market Plus I Plan 191

Without Life Cover

Eligibility Criteria for LIC Market Plus I Plan 191 (Without Life Cover)

Parameter	Minimum	Maximum
Entry Age (Regular Premium)	18 Years	75 Years
Entry Age (Single Premium)	18 Years	80 Years
Vesting Age	40 Years	85 Years
Deferment Term (Regular Premium)	10 Years	No Specific Limit
Deferment Term (Single Premium)	5 Years	No Specific Limit
Sum Assured	Nil	Nil

With Life Cover

Eligibility Criteria for LIC Market Plus I Plan 191 (With Life Cover)

Parameter	Minimum	Maximum
Entry Age	18 Years	65 Years
Vesting Age	40 Years	75 Years
Deferment Term (Regular Premium)	10 Years	No Specific Limit
Deferment Term (Single Premium)	5 Years	No Specific Limit
Minimum Sum Assured	₹30,000	Subject to LIC Underwriting Rules

Benefits of Choosing Life Cover

When the policy is purchased with life cover, it provides insurance protection in addition to retirement savings.

Key advantages include:

• Financial security for family members
• Death benefit protection during the policy term
• Retirement corpus accumulation
• Market-linked growth potential

This combination allows policyholders to address both protection and retirement planning needs within a single product.

Why Use the LIC Market Plus I Plan 191 Calculator?

The calculator helps policyholders estimate:

• Current fund value
• Future retirement corpus
• Vesting benefits
• Premium growth projections
• Impact of different fund return assumptions
• Pension planning outcomes

It serves as a useful retirement planning tool by helping users understand how their investments may grow over time under various market scenarios.

Key Features of LIC Market Plus I Plan 191

Multiple Investment Fund Options

LIC Market Plus I Plan 191 offered a range of investment funds to accommodate different risk profiles and retirement objectives.

Bond Fund

The Bond Fund invested entirely in debt-oriented instruments, making it suitable for conservative investors seeking stability and lower market volatility.

Secured Fund

The Secured Fund maintained a balanced allocation between equity and debt investments.

• Equity Exposure: 15% to 55%
• Debt Exposure: 45% to 85%

This fund was designed for investors looking for moderate growth with controlled risk.

Balanced Fund

The Balanced Fund provided a combination of equity and debt investments for medium-risk investors.

• Equity Allocation: 30% to 70%
• Debt Allocation: 30% to 70%

It aimed to deliver a balance between capital appreciation and stability.

Growth Fund

The Growth Fund focused primarily on equity investments to maximize long-term growth potential.

• Equity Exposure: 40% to 80%

This option was suitable for investors willing to accept higher market risk in exchange for potentially higher returns.

Premium Payment Options

Regular Premium Option

Policyholders could contribute premiums through multiple payment frequencies:

• Yearly
• Half-Yearly
• Quarterly
• Monthly (through ECS facility)

The minimum premium requirement varied depending on the chosen deferment period. For example, longer deferment periods generally required a lower minimum annual premium.

Single Premium Option

The plan also allowed a one-time investment option.

Minimum Single Premium

• ₹30,000 or higher, subject to applicable policy conditions

This option was suitable for individuals wishing to invest a lump-sum amount for retirement planning.

Top-Up Premium Facility

Policyholders were allowed to enhance their retirement corpus through Top-Up Premiums.

Features of Top-Up Contributions

• Can be paid at any time during the policy term
• Accepted in multiples of ₹1,000
• Increase fund value accumulation
• Help boost long-term retirement savings

Life Cover and Rider Benefits

Choice of Life Cover

LIC Market Plus I Plan 191 could be purchased:

• With Life Cover
• Without Life Cover

This flexibility allowed policyholders to customize the plan according to their retirement and protection requirements.

Optional Rider Benefits

Additional protection could be obtained through optional riders, including:

• Accident Benefit Rider
• Critical Illness Rider

These riders provided enhanced financial protection against unforeseen events.

Death Benefit

When life cover was selected, the death benefit generally included:

• Applicable Sum Assured
• Fund Value accumulated under the policy

This ensured financial support for the nominee while preserving investment value.

Vesting and Retirement Benefits

Minimum Vesting Age

• 40 Years

Maximum Vesting Age

• 75 Years (With Life Cover)
• 85 Years (Without Life Cover)

At vesting, the accumulated fund value could be utilized according to prevailing pension regulations and annuity options.

Fund Switching Facility

The plan provided flexibility through a fund-switching feature.

Benefits of Fund Switching

Policyholders could:

• Shift between available funds
• Adjust investment strategy according to market conditions
• Move to safer funds closer to retirement
• Align investments with changing financial goals

Loan and Withdrawal Restrictions

Under LIC Market Plus I Plan 191:

• No loan facility was available
• Partial withdrawals were generally not permitted during the policy term

LIC Market Plus I Plan 191 Calculator

The LIC Market Plus I Calculator helps policyholders estimate potential retirement benefits and evaluate various investment scenarios.

What Does the Calculator Estimate?

The calculator can project:

• Fund value accumulation
• Maturity corpus
• Vesting benefits
• Death benefits
• Impact of top-up investments
• Growth under different fund choices

Benefits of Using the Calculator

• Helps compare different investment strategies
• Assists in retirement planning
• Demonstrates the impact of fund switches
• Estimates long-term wealth accumulation
• Provides clarity on pension corpus creation

How to Use the LIC Market Plus I Plan 191 Calculator

Step 1: Enter Personal Details

Provide:

• Entry Age
• Life Cover Option
• Policy Type (Regular or Single Premium)

Step 2: Enter Premium Details

Input:

• Premium Amount
• Premium Frequency
• Planned Top-Up Contributions, if any

Step 3: Select Deferment Period

Choose the number of years remaining until vesting.

Step 4: Select Fund Option

Choose from:

• Bond Fund
• Secured Fund
• Balanced Fund
• Growth Fund

Step 5: Select Expected Rate of Return

Since returns are market-linked, the calculator requires an assumed growth rate based on investment expectations.

Step 6: Generate Projections

The calculator provides estimates relating to:

• Projected Fund Value
• Expected Retirement Corpus
• Death Benefit (if life cover is selected)
• Estimated Pension Potential

Benefits of LIC Market Plus I Plan 191

1. Flexible Investment Choices

Policyholders could choose between different funds and modify their investment allocation over time.

2. Optional Insurance Protection

The plan offered flexibility to include or exclude life cover according to individual requirements.

3. Tax Benefits

Premiums qualified for tax benefits under applicable provisions of income tax laws prevailing during the policy period.

Eligible maturity and pension-related benefits could also enjoy tax treatment according to applicable regulations.

4. Additional Protection Through Riders

Optional rider benefits helped strengthen financial security by providing coverage against accidents and critical illnesses.

5. Top-Up Investment Facility

Top-up contributions allowed policyholders to increase their retirement corpus whenever additional funds were available.

6. Market-Linked Wealth Creation

Unlike traditional pension products, LIC Market Plus I offered exposure to equity and debt markets, providing the opportunity for higher long-term growth.

Important Policy Conditions

Lock-In Requirements

The policy carried a lock-in period during which certain benefits and withdrawals were restricted.

Surrender Rules

Surrender benefits generally became available after completion of three policy years, subject to applicable policy provisions.

Policy Revival

If premiums were not paid within the prescribed grace period, the policy could lapse. However, revival was generally allowed within the specified revival period, subject to LIC rules.

Suicide Exclusion

The standard suicide exclusion clause applied during the initial policy period according to policy conditions.

Annuity Selection

Policyholders intending to purchase an annuity from another insurer were generally required to notify LIC before the vesting date as per applicable regulations.

Withdrawal of LIC Market Plus I Plan 191

LIC Market Plus I Plan 191 was withdrawn from new sales on 1 September 2010 due to regulatory changes affecting ULIP products.

However:

• Existing policies remain fully valid.
• Fund management continues until vesting or claim settlement.
• NAV declarations continue according to the selected fund.
• Policyholders can still track their investments and estimate benefits using LIC Market Plus I calculators.

Where Can You Find a LIC Market Plus I Plan 191 Calculator?

Existing policyholders can access calculation tools through:

• LIC servicing platforms
• Insurance comparison websites
• Financial planning portals
• Retirement planning websites

These calculators can help estimate future corpus value, evaluate investment growth, and plan retirement income more effectively under this discontinued LIC pension plan.

Frequently Asked Questions About LIC Market Plus I Plan 191

What is LIC Market Plus I Plan 191?

LIC Market Plus I Plan 191 was a Unit Linked Deferred Pension Plan introduced by LIC to help individuals build a retirement corpus through market-linked investments. The plan offered flexibility in fund selection along with an option to include life insurance protection.

When was LIC Market Plus I Plan 191 launched and discontinued?

LIC launched Market Plus I Plan 191 on 17 June 2008 and later withdrew it from new sales on 1 September 2010. Although the plan is no longer available for purchase, existing policyholders continue to enjoy policy benefits as per the original terms and conditions.

What investment funds were available under the plan?

The plan offered multiple investment options catering to different risk profiles:

• Bond Fund
• Secured Fund
• Balanced Fund
• Growth Fund

Policyholders could choose a single fund or allocate investments across multiple funds according to their retirement goals and risk appetite.

What is the purpose of the LIC Market Plus I Plan 191 Calculator?

The calculator helps policyholders estimate:

• Future fund value
• Projected retirement corpus
• Vesting benefits
• Potential pension value
• Impact of premium contributions
• Effect of top-up investments
• Growth under different return assumptions

It serves as a useful retirement planning tool for evaluating long-term investment outcomes.

Can policyholders switch between funds?

Yes. The plan offered a fund-switching facility that allowed policyholders to move investments between available fund options based on changing market conditions, investment objectives, or risk preferences.

Is life insurance cover available under the plan?

Yes. LIC Market Plus I Plan 191 could be purchased either:

• With Life Cover, or
• Without Life Cover

This flexibility allowed individuals to choose a pure retirement-focused plan or combine retirement savings with insurance protection.

Are top-up premiums allowed?

Yes. Policyholders could invest additional amounts through Top-Up Premiums, subject to applicable policy rules. These contributions helped increase the overall retirement corpus and fund value.

Does the plan provide guaranteed returns?

No. Since LIC Market Plus I Plan 191 is a Unit Linked Insurance Plan (ULIP), returns are linked to market performance and are not guaranteed. The fund value depends on the performance of the selected investment funds and prevailing market conditions.

Is a loan facility available under this policy?

No. LIC Market Plus I Plan 191 did not provide a loan facility against the policy.

Can partial withdrawals be made during the policy term?

Generally, partial withdrawals were not permitted during the policy term. The accumulated corpus remained invested until vesting, subject to applicable policy provisions.

Conclusion

LIC Market Plus I Plan 191 was a retirement-oriented ULIP pension product designed to help individuals accumulate wealth through market-linked investments while providing optional life insurance protection. With multiple fund choices, top-up facilities, fund-switching flexibility, and retirement-focused benefits, the plan offered policyholders a structured approach to long-term financial planning.

Although the product has been discontinued for new sales, it remains important for existing policyholders who continue to track fund performance, monitor NAV growth, and plan retirement benefits. The LIC Market Plus I Plan 191 Calculator continues to be a valuable tool for estimating future corpus value, understanding investment growth, and making informed retirement planning decisions.

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