LIC Future Plus Plan 172 was a unit-linked deferred pension plan introduced by the Life Insurance Corporation of India (LIC) on 4 March 2005. The plan has since been withdrawn from sale, so it is relevant mainly to existing policyholders and those researching older LIC pension products. A LIC Future Plus Plan 172 Calculator can help existing customers understand their policy value, NAV movement, surrender value, and potential benefits at vesting.

Introduction to LIC Future Plus Plan 172

LIC Future Plus Plan 172 was developed for individuals looking to build retirement-oriented savings through a market-linked investment structure. Policyholders could select from different fund options and, depending on the policy structure, could also choose risk-cover features.

Since it is a ULIP-based pension product, its value cannot be calculated like a traditional fixed-return insurance policy. The estimated value depends on several factors, including the premium paid, policy duration, selected fund, applicable charges, NAV movement, and whether the policy is surrendered or continued until vesting.

Launch Date and Withdrawal Status

According to LIC's plan NAV records, Future Plus (Plan 172) was launched on 4 March 2005. LIC also includes the plan among its withdrawn products under the name “LIC's Future Plus” with UIN 512L228V01.

For informational and SEO purposes, the key details can be presented as:

• Launch Date: 4 March 2005
• Current Status: Withdrawn from sale
• Availability: Applicable only to existing policyholders

What is the LIC Future Plus Plan 172 Calculator?

The LIC Future Plus Plan 172 Calculator is a useful estimation tool for understanding the potential value of an existing policy at different stages.

It can help answer questions such as:

• How much premium has been paid?
• What could the current fund value be?
• What value may be available on surrender?
• What amount could be available at vesting?
• How does the selected fund affect the policy value?
• How does NAV movement influence the overall return?

Because the plan is market-linked, the calculator should consider actual or assumed NAV values instead of using a fixed rate of return.

How Does LIC Future Plus Plan 172 Work?

Under the plan, the invested portion of the premium is allocated into units of the fund selected by the policyholder. The value of those units changes according to the applicable NAV.

Future Plus offered fund choices such as:

• Bond Fund
• Income Fund
• Balanced Fund
• Growth Fund

Each fund has a different investment profile and level of market exposure. As a result, the final policy value can vary significantly depending on the fund selected and its performance over time.

Important Inputs for the Calculator

To generate a meaningful estimate, the calculator should consider the following information:

Input	Why It Is Important
Premium Amount	Determines the amount invested into the policy
Premium Mode	Defines how frequently premiums are paid
Policy Term	Influences the duration of investment
Fund Type	Different funds have different NAV movements
NAV History	Helps determine the value of accumulated units
Applicable Charges	Charges can reduce the overall fund value
Entry Age	Helps determine policy eligibility and structure
Vesting Age	Determines when pension-related benefits become available

Benefits Available Under LIC Future Plus Plan 172

LIC Future Plus was structured as a pension-oriented investment plan. At vesting, the accumulated policy value could be used toward purchasing a pension, while the applicable commutation option could provide a portion of the value as a lump sum.

The plan also provided death-related benefits and, depending on the selected policy options, additional protection such as accident or critical-illness-related benefits.

The exact benefits available to an individual policyholder depend on the original policy terms and options selected.

Surrender and Withdrawal Value

The surrender facility is an important consideration for existing Future Plus policyholders. Under the original plan conditions, surrender was permitted, although deductions could affect the amount received, particularly when the policy was surrendered during the early years.

The policy provisions also indicate that where premiums had been paid for three years or more and were subsequently discontinued, applicable surrender or vesting benefits could be based on the bid value of units held in the policyholder's account.

Therefore, a useful Future Plus 172 calculator should ideally display more than just the total premiums paid. It should also consider:

• Current bid value of units
• Estimated surrender value
• Potential vesting value
• Effect of unpaid premiums
• Applicable policy charges

Simple LIC Future Plus Plan 172 Calculation Example

Consider a hypothetical policyholder who has paid regular premiums for several years.

For example:

• Annual Premium: ₹20,000
• Policy Term: 20 years
• Selected Fund: Balanced Fund
• Return: Dependent on actual NAV performance

In this situation, the policy value would depend on the number of units accumulated and their prevailing NAV, after considering applicable charges.

Unlike a traditional endowment plan, there is no fixed maturity amount that can simply be calculated by adding a predetermined interest rate.

Important Features of LIC Future Plus Plan 172

The plan had several characteristics that distinguished it from conventional savings policies:

• It was a unit-linked deferred pension plan.
• Policyholders could select from different investment funds.
• The plan could be taken with or without applicable risk cover.
• The value of the policy was linked to units and NAV.
• Surrender and vesting were governed by specific policy conditions.
• The eventual pension benefit depended on the accumulated policy value and applicable annuity options.

Who Can Benefit From Information About This Plan?

Since LIC Future Plus Plan 172 is no longer available for new purchases, information about the plan is primarily useful for:

• Existing LIC Future Plus policyholders
• Family members reviewing old LIC policies
• Insurance agents and advisors
• Researchers studying discontinued LIC ULIP products
• Website owners creating calculators for older LIC plans

Common Calculation Mistakes

Calculating the value of an old ULIP can be confusing, and several common errors can lead to inaccurate estimates.

Assuming a Fixed Return

Future Plus is market-linked, so assuming a guaranteed rate of return can produce misleading results.

Ignoring Charges

Policy administration, mortality, and other applicable charges can reduce the fund value and should be considered.

Using the Wrong NAV

The NAV applicable to the relevant date is important when calculating the value of accumulated units.

Ignoring Surrender Timing

The amount available on surrender can depend on when the policy is surrendered and the applicable policy conditions.

Treating Pension Benefits Like Endowment Maturity

Future Plus is a pension-oriented ULIP, so its vesting and annuity benefits should not be treated exactly like the maturity benefit of a conventional endowment policy.

Why Use a LIC Future Plus Plan 172 Calculator?

A dedicated calculator makes it easier for existing policyholders to understand the value of an older ULIP.

It can help you:

• Estimate the current or future fund value
• Track the effect of NAV changes
• Understand the impact of policy charges
• Estimate surrender value
• Review potential vesting benefits
• Compare different fund-performance scenarios
• Make better-informed decisions about continuing or surrendering the policy

Because ULIP values can change with market conditions, even relatively small NAV movements can influence the overall policy value.

Frequently Asked Questions

What is LIC Future Plus Plan 172?

LIC Future Plus Plan 172 is a unit-linked deferred pension plan introduced by LIC in 2005. It was designed to combine market-linked investment with pension-oriented benefits and has since been withdrawn from new sales.

What does the LIC Future Plus 172 Calculator calculate?

The calculator can estimate the policy's potential value by considering factors such as premium, policy term, selected fund, applicable charges, and NAV movement.

Is LIC Future Plus Plan 172 still available for purchase?

No. LIC has withdrawn the plan, so new policyholders cannot purchase it. The information remains relevant for existing policyholders.

When was LIC Future Plus Plan 172 launched?

The plan was launched on 4 March 2005, according to LIC's plan NAV records.

Can an existing Future Plus 172 policy be surrendered?

Surrender was permitted under the original policy conditions. However, the amount payable can depend on the timing of surrender, applicable deductions, and other policy terms.

Conclusion

LIC Future Plus Plan 172 was a market-linked deferred pension product launched by LIC on 4 March 2005 and subsequently withdrawn from sale. The plan allowed policyholders to select different funds, with the value of their policy depending on unit holdings, NAV performance, and applicable charges.

For existing policyholders, the LIC Future Plus Plan 172 Calculator can be a practical way to estimate fund value, surrender value, and potential vesting benefits. Since the plan is unit-linked, the results should be considered estimates, with the actual value depending on NAV movements and the specific terms of the policy.

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