LIC Future Plus (Plan 172, UIN 512L228V01) was a unit-linked deferred pension plan launched in March 2005 and later withdrawn. Premiums bought fund units until the vesting age, and the fund then bought a pension, with up to one-third taken as cash. At 8% gross growth, ₹25,000 a year from age 35 to 60 projects to about ₹16.55 lakh, or roughly ₹5,978 a month after taking a third in cash.
LIC Future Plus Fund Value & Pension Calculator
Your estimate
at age 60
- Yearly pension
- ₹71,734
- Commuted lump sum
- ₹5,51,800
- Total invested
- ₹6,25,000
- Estimated returns
- ₹10,30,399
- Approx. return (IRR)after assumed charges
- 6.86%
- Deferment period
- 25 years
- Total invested₹6,25,00038%
- Estimated returns₹10,30,39962%
Year-wise projected fund value
| Year | Age at entry | Total invested | Estimated fund value |
|---|---|---|---|
| 1 | 36 years | ₹25,000 | ₹20,935 |
| 2 | 37 years | ₹50,000 | ₹47,410 |
| 3 | 38 years | ₹75,000 | ₹75,804 |
| 4 | 39 years | ₹1,00,000 | ₹1,07,062 |
| 5 | 40 years | ₹1,25,000 | ₹1,40,585 |
| 6 | 41 years | ₹1,50,000 | ₹1,76,539 |
| 7 | 42 years | ₹1,75,000 | ₹2,15,099 |
| 8 | 43 years | ₹2,00,000 | ₹2,56,456 |
| 9 | 44 years | ₹2,25,000 | ₹3,00,810 |
| 10 | 45 years | ₹2,50,000 | ₹3,48,380 |
| 11 | 46 years | ₹2,75,000 | ₹3,99,399 |
| 12 | 47 years | ₹3,00,000 | ₹4,54,117 |
| 13 | 48 years | ₹3,25,000 | ₹5,12,802 |
| 14 | 49 years | ₹3,50,000 | ₹5,75,742 |
| 15 | 50 years | ₹3,75,000 | ₹6,43,244 |
| 16 | 51 years | ₹4,00,000 | ₹7,15,641 |
| 17 | 52 years | ₹4,25,000 | ₹7,93,287 |
| 18 | 53 years | ₹4,50,000 | ₹8,76,561 |
| 19 | 54 years | ₹4,75,000 | ₹9,65,873 |
| 20 | 55 years | ₹5,00,000 | ₹10,61,661 |
| 21 | 56 years | ₹5,25,000 | ₹11,64,393 |
| 22 | 57 years | ₹5,50,000 | ₹12,74,573 |
| 23 | 58 years | ₹5,75,000 | ₹13,92,740 |
| 24 | 59 years | ₹6,00,000 | ₹15,19,476 |
| 25 | 60 years | ₹6,25,000 | ₹16,55,399 |
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC Future Plus?
LIC Future Plus (Plan No. 172, UIN 512L228V01) was a unit-linked deferred pension plan launched on 4 March 2005. It is now withdrawn. The idea was simple: pay premiums while you work, let them grow in a market-linked fund, and turn the fund into a pension when you retire. Unlike Jeevan Akshay or other traditional pension plans, nothing about the final amount was guaranteed. It depended on how your fund performed.
This page is the plain-language overview of the plan, with a calculator that projects the fund to your vesting age and converts it into a pension. If you want the plan-specific rules, such as sum assured multiples, fund-wise projections and charges, see the dedicated LIC Future Plus Plan 172 calculator.
Future Plus at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 172 / 512L228V01 |
| Plan type | Unit-linked deferred pension (ULIP) |
| Launched | 4 March 2005 |
| Entry age | 18 to 65 years |
| Vesting age | 40 to 75 years |
| Minimum deferment | 5 years |
| Premium | Regular (from ₹5,000 a year) or single (from ₹10,000) |
| Funds | Bond, Income, Balanced, Growth |
| At vesting | Up to one-third as cash, rest as pension |
| Status | Withdrawn |
How a unit-linked pension works
- Premium in, units out. After an allocation charge, each premium buys units of your fund at that day’s NAV.
- Charges. A small policy administration charge (and a risk charge if you chose life cover) is taken by cancelling units. A fund management charge is built into the NAV.
- Growth. Your fund value is units × NAV, so it rises and falls with the market.
- Vesting. At the vesting age, the fund can be partly commuted (up to one-third as cash), and the rest buys an annuity for life.
Worked example
Our calculator assumes charges typical of LIC ULIPs of that era: 20% allocation in year one, 5% in years two and three, 2% after that, ₹40 a month administration and a 0.75% yearly fund management charge.
Case: ₹25,000 a year from age 35, vesting at 60 (25 years), 8% gross growth.
| Result | Estimate |
|---|---|
| Total invested | ₹6,25,000 |
| Fund value at 60 | ₹16,55,399 |
| One-third as cash | ₹5,51,800 |
| Pension on the rest (6.5%) | ₹5,978 a month |
| Pension with no cash taken | ₹8,967 a month |
| Return after charges (IRR) | about 6.86% a year |
At 10% gross growth, the same premiums project to about ₹22.54 lakh. A single premium of ₹2 lakh at 45, vesting at 60, projects to about ₹5.41 lakh at 8%.
Tip: the growth rate is the biggest lever in this calculator and the one you control least. Run a cautious case (6–7%) and an optimistic case (10%). Plan around the cautious one.
Death, surrender and discontinuance
On death before vesting, the nominee receives a death benefit based on the fund value and, if you chose it, the risk cover, as set out in your policy terms. Partial withdrawals were not allowed during the five-year lock-in period. If premiums stopped after at least three years, the bid value of units stayed payable at surrender or vesting. Earlier exits attracted deductions. Check your policy bond for the exact conditions.
Tax
Premiums for pension plans were deductible under Section 123 of the Income-tax Act, 2025 (earlier Section 80CCC). At vesting, the commuted lump sum is generally tax-free, while the pension is taxed as income each year. Individual life and pension policies are GST-free from 22 September 2025.
Who is this page for?
Existing Future Plus policyholders who want to know what the policy could be worth at vesting, family members going through old documents, and anyone comparing an old ULIP pension with today’s options. For new retirement money, compare LIC’s current New Pension Plus 867, or use our ULIP calculator for SIIP 752 and Nivesh Plus 749.
Frequently asked questions
What was LIC Future Plus?
LIC Future Plus was a unit-linked deferred pension plan (ULIP) launched in 2005. Your premiums were invested in a fund of your choice until the vesting age. At vesting, the fund value was used to buy a lifelong pension, with an option to take part of it as a lump sum.
Can I still buy LIC Future Plus?
No. LIC has withdrawn Future Plus from new sales, and it appears in LIC's list of withdrawn plans. Existing policies continue under their original terms, and the unit value keeps moving with the fund's NAV until vesting or surrender.
How is the Future Plus fund value calculated?
The fund value is the number of units you hold multiplied by the current NAV (bid price) of your chosen fund. Each premium, after allocation charges, buys units. Monthly policy and risk charges are deducted by cancelling units. Our calculator projects this with an assumed growth rate and typical charges.
What happens at vesting in LIC Future Plus?
At the vesting age, you can take up to one-third of the fund as a lump sum. The rest buys an annuity from LIC at the rates then in force, paying you a pension for life. Taking no lump sum gives a larger pension.
How much pension can ₹25,000 a year in Future Plus give?
On our estimate, ₹25,000 a year from age 35 to 60 at 8% gross growth builds about ₹16.55 lakh. Taking one-third in cash leaves a pension of about ₹5,978 a month at a 6.5% annuity rate. Without the lump sum it is about ₹8,967 a month.
Where do I find my actual Future Plus fund value?
Your latest unit statement, LIC's customer portal or your branch will show the units held and the NAV. Multiply the two to get today's value. Use this calculator to see how that value might grow until vesting.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.