LIC Jeevan Plus Plan 173 Calculator
Estimated Results
| Return Rate | Estimated Fund Value |
|---|---|
| 4% p.a. | – |
| 6% p.a. | – |
| 8% p.a. | – |
Death benefit is illustrated as: Sum Assured + Fund Value at the time of death.
The LIC Jeevan Plus Plan 173 is an old Unit Linked Insurance Plan (ULIP) offered by the Life Insurance Corporation of India. The plan combined life insurance protection with market-linked investment, allowing policyholders to invest part of their premiums in different funds. Although it is no longer available for new customers, existing policyholders may still use an LIC Jeevan Plus Plan 173 Calculator to estimate fund growth, maturity value, and death benefits.
What is LIC Jeevan Plus Plan 173?
LIC Jeevan Plus Plan 173 was a unit-linked insurance product that combined life cover with investment in market-linked funds. A portion of the premium was used toward insurance protection, while the remaining amount was invested in funds such as Growth, Bond, and Balanced funds. The value of these investments could rise or fall depending on market performance.
Under the plan:
- The death benefit is based on the sum assured along with the value of accumulated units.
- The maturity benefit depends on the fund value available at the end of the policy period.
- Since the investment is market-linked, the returns are not guaranteed.
Therefore, a calculator can be useful for estimating possible outcomes under different assumed return rates.
Launch and Withdrawal Details
LIC introduced Jeevan Plus Plan 173 on 18 October 2005. The plan was subsequently withdrawn from new business, and LIC stopped accepting new entries from 30 June 2006. Existing policyholders can continue their policies according to the applicable policy conditions.
Important Dates
- Launch Date: 18 October 2005
- Withdrawal from New Sales: 30 June 2006
- Current Status: Not available for new policy purchases
LIC Jeevan Plus Plan 173 – Eligibility and Key Parameters
Before using a Jeevan Plus 173 calculator, it is important to understand the basic plan conditions.
| Parameter | Details |
|---|---|
| Plan Number | 173 – Jeevan Plus |
| Plan Type | Unit-linked insurance plan (ULIP) |
| Policy Term | Up to age 100 years |
| Minimum Entry Age | Around 5 years |
| Maximum Entry Age | Around 65 years |
| Regular Premium Modes | Yearly, half-yearly and quarterly |
| Minimum Regular Premium | ₹5,000 per year |
| Minimum Single Premium | ₹25,000 |
| Regular Premium Sum Assured | 5 to 50 times annualised premium |
| Single Premium Sum Assured | 0.5 to 10 times single premium |
The exact calculation may vary depending on the applicable policy conditions and version of the original product documentation.
How Does the LIC Jeevan Plus Plan 173 Calculator Work?
The LIC Jeevan Plus Plan 173 Calculator is designed to provide an approximate picture of your policy’s financial performance. It can be used to estimate the potential fund value and death benefit under different investment assumptions.
Because this is an old withdrawn ULIP, LIC’s current website does not provide an official online calculator specifically for Jeevan Plus 173. Third-party calculators and agent-developed tools may instead use the plan’s structure and assumed rates to generate estimates.
Information Required by the Calculator
Generally, you may need to enter:
- Age of the policyholder
- Gender
- Sum assured
- Premium amount
- Premium payment frequency
- Policy term
- Expected or assumed rate of return
These inputs are then used to estimate the investment amount after charges and project the possible fund value over time.
How the Fund Value is Calculated
A typical calculator follows a few basic steps:
- It determines the amount invested after applicable ULIP charges.
- The net investment is used to purchase units.
- The units are assumed to grow according to the selected return rate.
- The accumulated fund value is displayed for the selected period.
- The estimated death benefit can also be calculated using the applicable sum assured and fund value.
Since actual returns depend on NAV and market performance, calculator results should be treated as illustrations rather than guaranteed returns.
Example of LIC Jeevan Plus Plan 173 Calculation
Consider a hypothetical policyholder with the following details:
- Age: 35 years
- Gender: Male
- Sum Assured: ₹10,00,000
- Annual Premium: ₹60,000
- Policy Term: 20 years
- Assumed Return: 8% per year
The calculator can estimate the amount invested after applicable charges and then project its growth over 20 years. It may also display the total premium paid, estimated fund value, and potential death benefit during the policy term.
The actual fund value can differ because market-linked investments do not provide fixed returns.
Why Use an LIC Jeevan Plus Plan 173 Calculator?
A calculator can make an old ULIP easier to understand by allowing you to test different combinations of premium, sum assured, and expected returns.
Main advantages include:
- Compare different scenarios: Change the premium, sum assured, or expected return and observe the effect on the projected fund value.
- Plan your budget: Check whether your existing premium commitment fits your financial situation.
- Understand investment risk: Compare conservative, moderate, and higher-return assumptions.
- Review your policy: Having estimated figures can make discussions with an LIC agent or financial professional easier.
LIC Jeevan Plus Plan 173 Benefits at a Glance
| Feature | Description |
|---|---|
| Plan Type | ULIP combining insurance and market-linked investment |
| Policy Term | Up to age 100 years |
| Entry Age | Approximately 5 to 65 years |
| Premium Modes | Yearly, half-yearly, quarterly or single premium |
| Minimum Regular Premium | ₹5,000 annually |
| Minimum Single Premium | ₹25,000 |
| Death Benefit | Sum assured plus fund value, subject to policy terms |
| Maturity Benefit | Available fund value at maturity |
| Investment | Market-linked funds |
| Charges | Allocation, policy administration, fund management and other applicable charges |
| Partial Withdrawal | Subject to the applicable policy conditions |
| Fund Switching | Available between eligible funds subject to plan rules |
These features are summarized from the supplied plan information.
How to Use the LIC Jeevan Plus Plan 173 Calculator
Since the plan is no longer available for new purchases, a calculator can primarily be useful for existing policyholders who want to understand their policy’s potential value.
Step 1: Enter Your Age
Provide the age of the life assured at the time of policy entry.
Step 2: Enter the Sum Assured
Enter the amount of insurance protection associated with your policy.
Step 3: Add Premium Details
Select the payment mode and enter the applicable premium amount.
Step 4: Select the Policy Period
Enter the desired calculation period. Although the plan could continue up to age 100, shorter periods may be used for illustration and comparison.
Step 5: Choose an Assumed Return
You can compare different hypothetical rates, such as 4%, 6%, and 8%, to understand how different investment scenarios affect the projected value.
Step 6: Generate the Result
The calculator can then display:
- Total premiums paid
- Estimated fund value
- Projected maturity value
- Potential death benefit
- Effect of assumed investment returns
This calculation approach is based on the structure described in the supplied source.
Important Things to Know About Jeevan Plus Plan 173
Because Jeevan Plus 173 is an older ULIP that has been withdrawn from new sales, existing policyholders should keep several points in mind.
Returns Are Not Guaranteed
The fund value is linked to the performance of the selected investment funds. Therefore, actual returns can be higher or lower than the rate used in a calculator.
Charges Affect the Fund Value
Applicable allocation, policy administration, and fund management charges can reduce the amount ultimately invested and affect the overall fund value.
Liquidity May Be Restricted
Partial withdrawals may be subject to the rules and conditions applicable to the policy.
New Policies Cannot Be Purchased
LIC Jeevan Plus Plan 173 is no longer open to new customers. Existing policies continue according to their original terms.
LIC Jeevan Plus Plan 173 Compared With Newer LIC Plans
Jeevan Plus 173 belongs to an older generation of ULIPs, where investment returns are linked to market performance. Such plans may have different charges and structures compared with newer insurance products.
Newer LIC products generally have updated structures, disclosures, and product features. Depending on their needs, existing policyholders may therefore want to compare their current policy with newer investment, insurance, or pension products.
Frequently Asked Questions
What is LIC Jeevan Plus Plan 173?
LIC Jeevan Plus Plan 173 is an old unit-linked insurance plan (ULIP) that combines life insurance protection with market-linked investment.
When was LIC Jeevan Plus Plan 173 launched?
The plan was launched by LIC on 18 October 2005.
When was Jeevan Plus Plan 173 withdrawn?
LIC stopped accepting new policies under the plan from 30 June 2006. Existing policyholders can continue according to their policy terms.
Can I purchase a new Jeevan Plus Plan 173 policy?
No. The plan is withdrawn from new business, so fresh policies cannot be purchased.
How can I calculate my Jeevan Plus 173 maturity value?
You can use a Jeevan Plus Plan 173 calculator by entering details such as age, sum assured, premium, policy period, and an assumed return rate. The calculator can then provide an estimated fund value and other figures.
Conclusion
LIC Jeevan Plus Plan 173 was an older ULIP that brought together life insurance and market-linked investment. LIC launched the plan on 18 October 2005 and stopped issuing new policies from 30 June 2006. Existing policyholders can continue to manage their policies according to the applicable terms.
For existing customers, the LIC Jeevan Plus Plan 173 Calculator can be useful for understanding potential fund growth, estimating maturity values, and examining the effect of different assumed returns and charges. Since the plan is market-linked, calculator results are only estimates and actual policy values depend on the performance of the underlying funds.
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