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LIC New Pension Plus Plan 867 – Complete Retirement Planning Solution
Preparing for a financially stable retirement is one of the most essential long-term financial objectives. The LIC New Pension Plus Plan 867 is designed to help individuals create a strong retirement fund while also benefiting from a market-linked insurance plan.
What is LIC New Pension Plus Plan 867?
LIC New Pension Plus Plan 867 is a unit-linked pension insurance plan introduced by the Life Insurance Corporation of India. This retirement-focused plan combines life insurance protection with investment opportunities, helping policyholders grow their savings over time.
The main purpose of this pension plan is to build a retirement corpus through disciplined investments and long-term wealth accumulation. Since it is a ULIP-based pension plan, a portion of the premium is invested in market-linked funds, offering the potential for higher returns depending on market performance.
The plan is specially designed for individuals who want both retirement planning and insurance coverage within a single policy. Through regular premium payments and flexible fund options, policyholders can systematically create a pension fund for their post-retirement financial needs.
Key Highlights of LIC New Pension Plus Plan 867
The LIC New Pension Plus Plan 867 comes with several useful features that make retirement planning more flexible and investment-oriented.
Flexible Premium Payment Choices
Policyholders can choose premium payment options according to their convenience. Premiums can be paid:
- As a single lump sum payment
- Monthly
- Quarterly
- Half-Yearly
- Yearly
This flexibility allows investors to plan contributions based on their financial situation.
Multiple Fund Options
The plan offers different investment fund choices depending on the risk preference of the investor. Available fund options include:
- Pension Growth Fund
- Pension Bond Fund
- Pension Secured Fund
- Pension Balanced Fund
Policyholders can select funds according to their investment goals and market risk tolerance.
Guaranteed Additions
One of the major advantages of this plan is the guaranteed additions provided by the insurer. Guaranteed additions ranging from 5% to 15.5% are added during specific policy years, helping increase the overall fund value over time.
Five-Year Lock-in Period
The policy comes with a mandatory lock-in period of 5 years. During this duration, withdrawals are not permitted.
Partial Withdrawal Facility
After completion of the lock-in period, policyholders can make partial withdrawals from the available fund value under eligible conditions.
Flexible Policy Duration
The plan provides flexible policy terms:
- Minimum policy term: 10 years
- Maximum policy term: 42 years
This flexibility helps investors align the policy with their retirement age and long-term financial goals.
Entry Age and Vesting Age
The eligibility conditions for the plan are:
| Criteria | Age |
|---|---|
| Minimum Entry Age | 25 Years |
| Maximum Entry Age | 75 Years |
| Minimum Vesting Age | 35 Years |
| Maximum Vesting Age | 85 Years |
Tax Saving Benefits
Premiums paid under the policy may qualify for tax deductions under Section 80C of the Income Tax Act. Benefits received under eligible conditions may also receive tax advantages under Section 10(10D), as per prevailing tax regulations.
Death Benefit Protection
In case of the unfortunate death of the insured during the policy term, the nominee receives the higher of:
- Fund Value, or
- 105% of total premiums paid (after deducting withdrawals)
This feature ensures financial support for family members.
Maturity and Pension Benefits
On maturity or vesting, the accumulated retirement corpus is utilized as follows:
- Up to 60% of the fund value can be withdrawn as a lump sum amount
- The remaining 40% is used to purchase an annuity plan for regular pension income
This structure helps create both immediate liquidity and long-term pension support.
How Does LIC New Pension Plus Plan 867 Work?
The LIC New Pension Plus Plan 867 works by investing your premiums into selected market-linked pension funds. The performance of these funds depends on market conditions and the investment strategy chosen by the policyholder.
Over the policy duration:
- Regular investments accumulate wealth
- Market-linked growth increases fund value
- Guaranteed additions further enhance the corpus
At the end of the policy term, the accumulated retirement fund helps generate regular pension income through annuity purchase.
What is LIC New Pension Plus Plan 867 Calculator?
The LIC New Pension Plus Plan 867 Calculator is an online estimation tool that helps policyholders calculate the expected maturity value and pension benefits of the plan.
The calculator uses several details to estimate future returns, including:
- Current age of the investor
- Premium amount
- Premium payment frequency
- Policy duration
- Expected investment returns
- Guaranteed additions
By entering these details, users can get an approximate idea of:
- Expected fund value at maturity
- Estimated retirement corpus
- Potential annual or monthly pension income
The calculator helps investors make better retirement planning decisions before purchasing the policy.
Why Should You Use LIC New Pension Plus Plan 867 Calculator?
Personalized Retirement Estimates
The calculator helps you estimate the pension amount you may receive based on your premium amount, investment duration, and expected returns.
Better Financial Planning
It allows investors to plan their retirement savings in a more organized and systematic manner.
Easy Comparison of Plans
Users can compare different premium payment modes, policy terms, and investment strategies to select the most suitable option.
Smarter Investment Decisions
The calculator gives a clear estimate of future retirement benefits, helping policyholders make informed financial decisions before investing.
Step-by-Step Process to Use LIC New Pension Plus Plan 867 Calculator
Using the LIC New Pension Plus Plan 867 Calculator is simple and convenient. Follow these steps carefully:
Enter Your Current Age
Provide your current age. The eligible entry age ranges from 25 years to 75 years.
Choose Premium Payment Type
Select whether you want to pay:
- Single Premium
- Regular Premium
Enter Premium Amount
Fill in the premium amount you wish to invest.
- Minimum Single Premium: ₹1,00,000
- Minimum Regular Premium: ₹3,000 per month
Select Premium Payment Frequency
Choose the payment mode according to your convenience:
- Monthly
- Quarterly
- Half-Yearly
- Yearly
Choose Policy Duration
Select the desired policy term between 10 years and 42 years.
Pick Your Investment Fund
Choose from available investment options:
- Pension Growth Fund
- Pension Bond Fund
- Pension Secured Fund
- Pension Balanced Fund
Enter Expected Rate of Return
Input the estimated return percentage based on market expectations and fund performance.
Click on Calculate
The calculator will display:
- Estimated maturity fund value
- Expected retirement corpus
- Estimated annual pension amount
Example of LIC New Pension Plus Plan 867 Calculator
Let us understand the plan through a simple example.
Suppose:
| Details | Value |
|---|---|
| Age | 30 Years |
| Premium Type | Regular Premium |
| Annual Premium | ₹30,000 |
| Policy Term | 42 Years |
| Expected Return | 8% |
Estimated Benefits
| Benefit Type | Estimated Value |
|---|---|
| Total Investment | ₹12,60,000 |
| Estimated Maturity Corpus | ₹59,92,991 |
| Estimated Yearly Pension | ₹7,06,928 |
These values are approximate and may vary depending on market performance and guaranteed additions.
Major Benefits of LIC New Pension Plus Plan 867
Guaranteed Retirement Income
The plan helps create a regular pension income after retirement, ensuring financial stability.
Flexible Investment Options
Investors can select different investment funds according to their risk profile and retirement goals.
Tax Saving Advantages
Premiums paid under the plan may qualify for deductions under applicable income tax laws.
Market-Linked Wealth Growth
Since the plan is unit-linked, policyholders have the opportunity to earn potentially higher returns compared to traditional pension plans.
Guaranteed Additions
Additional guaranteed benefits help increase the overall retirement corpus.
Partial Withdrawal Facility
After the lock-in period, policyholders can withdraw part of the fund value during emergencies.
Financial Security for Family
The death benefit ensures financial support for nominees in case of the policyholder’s demise.
Long-Term Retirement Planning
The vesting age can extend up to 85 years, offering flexibility for long-term retirement planning.
Investment Fund Options Under LIC New Pension Plus Plan 867
The plan offers four investment funds to match different risk preferences.
Pension Growth Fund
This fund mainly invests in equities and is suitable for investors looking for long-term wealth creation with higher risk tolerance.
Pension Bond Fund
Primarily invests in government and corporate bonds, offering lower risk and relatively stable returns.
Pension Secured Fund
Focuses on safer securities and debt instruments for conservative investors.
Pension Balanced Fund
Provides a balanced combination of equity and debt investments for moderate growth and balanced risk.
Policyholders can allocate investments across multiple funds and are allowed up to four free fund switches every year.
LIC New Pension Plus Plan 867 Eligibility Details
| Criteria | Details |
|---|---|
| Minimum Entry Age | 25 Years |
| Maximum Entry Age | 75 Years |
| Minimum Vesting Age | 35 Years |
| Maximum Vesting Age | 85 Years |
| Policy Term | 10 to 42 Years |
| Minimum Premium | Single: ₹1,00,000 / Regular: ₹3,000 Monthly |
| Maximum Premium | No Limit |
| Lock-in Period | 5 Years |
Tax Benefits of LIC New Pension Plus Plan 867
The plan offers several tax-saving benefits under the Income Tax Act.
Section 80C Benefits
Premiums paid may qualify for tax deduction up to applicable limits under Section 80C.
Section 10(10D) Benefits
Eligible pension and annuity benefits may receive tax exemptions under Section 10(10D), subject to prevailing tax laws.
Tax-Free Maturity Benefits
Maturity proceeds used for annuity purchase may also qualify for tax exemptions under applicable rules.
It is advisable to consult a tax expert for updated and personalized tax guidance.
How to Purchase LIC New Pension Plus Plan 867
The plan can be purchased through multiple channels.
Online Purchase
Users can buy the policy through the official LIC India Website or LIC mobile application.
Offline Purchase
The plan can also be purchased by visiting the nearest LIC branch office or through authorized LIC agents.
Important Things to Consider Before Investing
Before purchasing the plan, keep the following points in mind:
- Understand your retirement objectives clearly
- Evaluate your risk-taking capacity
- Use the calculator to estimate expected returns
- Review the lock-in and withdrawal conditions carefully
- Select investment funds according to financial goals
- Read policy documents properly before investing
- Consider professional financial advice if required
Frequently Asked Questions About LIC New Pension Plus Plan 867
What is LIC New Pension Plus Plan 867?
LIC New Pension Plus Plan 867 is a unit-linked pension plan that combines retirement savings, market-linked investments, and insurance protection with guaranteed additions.
Who can buy LIC New Pension Plus Plan 867?
Individuals between 25 years and 75 years of age are eligible to purchase this policy.
What premium payment options are available?
Policyholders can choose:
- Single Premium
- Monthly Premium
- Quarterly Premium
- Half-Yearly Premium
- Yearly Premium
What happens at maturity?
At vesting or maturity:
- Up to 60% of the accumulated corpus can be withdrawn
- Remaining 40% must be used to purchase annuity for pension income
Are partial withdrawals allowed?
Yes, partial withdrawals are permitted after completion of the 5-year lock-in period, subject to policy conditions.
What tax benefits are available?
Premiums may qualify for deductions under Section 80C, while eligible benefits may receive exemptions under Section 10(10D).
Conclusion
The LIC New Pension Plus Plan 867 is a well-designed retirement solution for individuals looking to build a long-term pension corpus through market-linked investments. The plan combines flexible premium options, multiple investment choices, guaranteed additions, tax benefits, and insurance protection within a single retirement-focused policy.
Using the LIC New Pension Plus Plan 867 Calculator can help investors estimate future pension benefits and understand potential retirement wealth accumulation more effectively. It is a useful tool for making smarter and more confident retirement planning decisions.
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