LIC's New Pension Plus 867

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LIC’s New Pension Plus (Plan No. 867): A Complete Guide to Secure Your Retirement

Planning for retirement is one of the most important financial decisions in life. With rising living costs and increasing life expectancy, a regular and guaranteed income after retirement has become essential. To address this need, Life Insurance Corporation of India (LIC) introduced LIC’s New Pension Plus (Plan No. 867), a modern pension plan designed to provide long-term financial security.

In this article, we will explain LIC’s New Pension Plus in detail, including its features, benefits, eligibility, investment options, and why it can be a suitable choice for retirement planning.

What is LIC’s New Pension Plus (Plan 867)?

LIC’s New Pension Plus is a Unit Linked Pension Plan (ULPP) offered by LIC of India. This plan helps individuals accumulate a retirement corpus during their working years and later convert it into a steady pension income.

The plan combines investment and pension benefits, allowing policyholders to invest in market-linked funds while enjoying the reliability and trust of LIC.

Key Features of LIC’s New Pension Plus

Here are the main features of LIC’s New Pension Plus:

  1. Unit Linked Pension Plan
  2. Helps build a retirement corpus systematically
  3. Choice of investment funds based on risk appetite
  4. Flexible premium payment options
  5. Vesting age options to suit retirement goals
  6. Option to receive pension (annuity) after vesting
  7. Transparent fund management with NAV-based returns

Eligibility Criteria

Before investing, it is important to understand who can buy this plan.

Minimum and Maximum Age

  1. Minimum entry age: As specified by LIC at policy issuance
  2. Maximum entry age: Subject to LIC guidelines

Vesting Age

  1. Minimum vesting age: Generally aligned with retirement planning
  2. Maximum vesting age: As per LIC norms

Policy Term

  • The policy term depends on the chosen vesting age

(Exact age limits may vary and should be confirmed from official LIC sources or an authorized LIC agent.)

Premium Payment Options

LIC’s New Pension Plus offers flexibility in premium payments:

  1. Single Premium option
  2. Regular Premium option

This flexibility allows policyholders to choose a payment structure that matches their income pattern and financial planning strategy.

Investment Fund Options

As a unit linked pension plan, LIC’s New Pension Plus allows policyholders to invest in different funds based on risk tolerance:

  1. Equity-oriented funds for higher growth potential
  2. Debt-oriented funds for stability
  3. Balanced funds for moderate risk investors

Policyholders can select funds depending on their financial goals and market outlook.

Vesting and Pension Benefits

At Vesting

When the policy reaches the vesting age:

  • A portion of the accumulated corpus can be withdrawn as a lump sum, as per prevailing pension rules
  • The remaining amount is used to purchase an annuity for regular pension income

Pension (Annuity) Options

LIC offers various annuity options to provide:

 

  1. Lifetime pension
  2. Pension with return of purchase price
  3. Joint life pension options

Death Benefit

In case of the unfortunate death of the policyholder during the policy term:

  1. The nominee receives the fund value, as per policy conditions
  2. This ensures financial security for the family even if retirement planning is interrupted

Benefits of LIC’s New Pension Plus

  1. Long-term retirement planning solution
  2. Market-linked growth potential
  3. Trusted LIC brand and management
  4. Flexible investment and premium options
  5. Suitable for salaried and self-employed individuals
  6. Helps create disciplined savings for retirement

Who Should Consider This Plan?

LIC’s New Pension Plus may be suitable for:

  1. Individuals planning early retirement savings
  2. Salaried professionals seeking pension security
  3. Self-employed individuals without employer pension
  4. Investors looking for long-term market-linked pension plans
  5. People who trust LIC for retirement solutions

Important Points to Remember

  1. Returns are market-linked and not guaranteed
  2. Fund value depends on market performance
  3. Charges and policy conditions apply
  4. It is advisable to review policy documents carefully before investing

Conclusion

LIC’s New Pension Plus (Plan No. 867) is a well-structured pension plan designed to help individuals build a stable and sustainable retirement income. By combining market-linked investments with pension benefits, this plan offers flexibility, growth potential, and long-term financial security.

If you are looking for a reliable pension plan backed by LIC, and you are comfortable with long-term investments, LIC’s New Pension Plus can be a valuable addition to your retirement planning strategy.

Disclaimer

This article is for educational and informational purposes only. Policy features, benefits, and eligibility conditions may change from time to time. Readers are advised to verify details from official LIC sources or consult a licensed insurance advisor before making any financial decision.

 


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