LIC LIC's New Pension Plus (Plan No. 867): Full Guide, Eligibility & Premium

LIC's New Pension Plus belongs to LIC's pension plans family. In one line: build a retirement corpus in market-linked funds

Eligibility at a glance — entry age 25 to 75 years; sum assured Based on contribution; policy term 10 to 42 years. Anything outside those bands will simply not be issued, so check them before you plan the premium.

What the plan actually gives you: Four fund options with switching allowed Guaranteed additions credited from year six Partial withdrawals allowed for defined needs Corpus used to buy an annuity at vesting Those are the contractual features; bonus or market-linked components, where they apply, are declared by LIC each year and are not guaranteed in advance.

Who it suits: People still 10 years or more away from retirement. If that does not describe your situation, there is usually a better-fitting plan in the same family, and it costs nothing to ask.

Before you sign, run LIC's New Pension Plus through the premium calculator on this site with your own age, sum assured and term. Seeing the yearly outgo next to the projected maturity value is the fastest way to know whether the plan fits your cash flow — and the fastest way to spot a mis-sold recommendation.

Buying, servicing and claiming are three different jobs. We help with all three free of charge, including for policies you bought elsewhere, from our office at Fort, Mumbai and online across India.