LIC Market Plus I (Plan 191, UIN 512L249V01) is a unit-linked deferred pension plan sold from 17 June 2008 until 1 September 2010. You build a fund until vesting, then take up to one-third in cash and buy a pension with the rest. By our calculator, ₹1 lakh a year for 20 years from age 40 at an assumed 8% gross return grows to about ₹41.46 lakh.
Market Plus I 191 Fund Value & Pension Calculator
Your estimate
at vesting
from 2/3 of the fund at an assumed 6.5% annuity rate
- Premium per instalment
- ₹1,00,000
- Total premium paid
- ₹20,00,000
- Total charges deducted
- ₹4,12,981
- Lump sum on vesting (up to 1/3)
- ₹13,82,095
- Yearly pension
- ₹1,79,672
- Death benefitin the last year: fund value + sum assured
- ₹51,46,286
- Approx. return (IRR)
- 6.52%
- Vesting age
- 60 years
- Total premium paid₹20,00,00048%
- Net gain₹21,46,28652%
Year-wise fund value projection
| Year | Age | Premium paid | Estimated fund value | Death benefit |
|---|---|---|---|---|
| 1 | 41 | ₹1,00,000 | ₹87,436 | ₹10,87,436 |
| 2 | 42 | ₹1,00,000 | ₹1,95,716 | ₹11,95,716 |
| 3 | 43 | ₹1,00,000 | ₹3,11,625 | ₹13,11,625 |
| 4 | 44 | ₹1,00,000 | ₹4,35,717 | ₹14,35,717 |
| 5 | 45 | ₹1,00,000 | ₹5,68,583 | ₹15,68,583 |
| 6 | 46 | ₹1,00,000 | ₹7,10,859 | ₹17,10,859 |
| 7 | 47 | ₹1,00,000 | ₹8,63,099 | ₹18,63,099 |
| 8 | 48 | ₹1,00,000 | ₹10,26,023 | ₹20,26,023 |
| 9 | 49 | ₹1,00,000 | ₹12,00,407 | ₹22,00,407 |
| 10 | 50 | ₹1,00,000 | ₹13,87,080 | ₹23,87,080 |
| 11 | 51 | ₹1,00,000 | ₹15,86,932 | ₹25,86,932 |
| 12 | 52 | ₹1,00,000 | ₹18,00,704 | ₹28,00,704 |
| 13 | 53 | ₹1,00,000 | ₹20,29,404 | ₹30,29,404 |
| 14 | 54 | ₹1,00,000 | ₹22,74,114 | ₹32,74,114 |
| 15 | 55 | ₹1,00,000 | ₹25,35,992 | ₹35,35,992 |
| 16 | 56 | ₹1,00,000 | ₹28,16,283 | ₹38,16,283 |
| 17 | 57 | ₹1,00,000 | ₹31,16,000 | ₹41,16,000 |
| 18 | 58 | ₹1,00,000 | ₹34,36,548 | ₹44,36,548 |
| 19 | 59 | ₹1,00,000 | ₹37,79,437 | ₹47,79,437 |
| 20 | 60 | ₹1,00,000 | ₹41,46,286 | ₹51,46,286 |
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 Market Plus I Plan 191?
LIC Market Plus I (Plan 191) is a unit-linked deferred pension plan (UIN 512L249V01). You pay premiums, LIC invests them in the fund you choose, and the fund keeps growing until the vesting age you selected. At vesting the fund is turned into a retirement income.
LIC launched Market Plus I on 17 June 2008 as the successor to Market Plus (Plan 181). It was withdrawn on 1 September 2010, when IRDA’s revised ULIP rules came into force. Policies bought before then continue normally. The calculator above estimates your fund value, lump sum and pension.
Market Plus I 191 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 191 / 512L249V01 |
| Plan type | Unit-linked deferred pension plan |
| Premium | Regular (yearly, half-yearly, quarterly, monthly ECS) or single |
| Minimum premium | ₹5,000 a year (for 20+ years’ deferment); ₹30,000 single |
| Top-ups | Allowed in multiples of ₹1,000 |
| Funds | Bond, Secured, Balanced, Growth |
| Partial withdrawal / loan | Not allowed |
| Riders | Accident benefit and critical illness |
| Status | Withdrawn on 1 September 2010 |
Eligibility
| Parameter | Without life cover | With life cover |
|---|---|---|
| Entry age | 18 to 75 (regular), 18 to 80 (single) | 18 to 65 |
| Vesting age | 40 to 85 | 40 to 75 |
| Minimum deferment | 10 years (regular), 5 years (single) | 10 years (regular), 5 years (single) |
How the fund value is projected
- Allocation charge in year 1 depends on the premium: 16.5% up to ₹75,000, 15.75% up to ₹1.5 lakh, 15% up to ₹3 lakh, 14.25% up to ₹5 lakh and 13.5% above that. From year 2 it is 2.5%. On a single premium it is 3.3%.
- Admin charge: ₹60 a month in year 1, then ₹20 a month (regular premium).
- Mortality charge on the sum assured, if you chose life cover.
- Growth at your assumed return, less the fund management charge of 0.5% (Bond) to 0.8% (Growth).
Example. A 40-year-old pays ₹1 lakh a year (or ₹8,333 a month by ECS) for 20 years into the Balanced fund, with life cover of ₹10 lakh. At an assumed 8% gross return, the fund at age 60 is about ₹41,46,286. Premiums total ₹20 lakh and charges about ₹4,12,981, an approximate return of 6.52% a year.
Without life cover and in the Growth fund at an assumed 10%, the same premium grows to about ₹54,24,639 (about 8.77% a year). A single premium of ₹5 lakh at age 55 for 10 years grows to about ₹9,73,031.
Tip: premiums above ₹75,000 a year got a lower first-year charge. If you paid a large premium, check that your first-year unit statement reflects the lower band.
Vesting benefit
At vesting you may take up to one-third of the fund as a lump sum (about ₹13,82,095 in the example). The remaining two-thirds buys a pension. At an assumed 6.5% annuity rate, that is about ₹1,79,672 a year or ₹14,973 a month. You may buy the annuity from another insurer if you tell LIC at least six months before vesting.
Death benefit
With life cover, the nominee receives the sum assured plus the fund value, about ₹51,46,286 in the example’s final year. Without life cover, the fund value is paid. The nominee may take a lump sum or a pension. Suicide within the first year is excluded.
Surrender, revival and tax
- Surrender: allowed, but the value is paid only after three policy years.
- Revival: a lapsed policy can be revived within two years.
- Tax: premiums qualified under Section 123 of the Income-tax Act, 2025 (earlier Section 80CCC) in the old regime; the one-third commutation is generally tax-free and the pension is taxable. Our projection adds no GST on charges, since individual life policies have been GST-exempt from 22 September 2025; earlier deductions of service tax or GST mean your real fund may be slightly lower.
Market Plus I vs other LIC ULIPs
Market Plus I was the pension-focused sibling of Money Plus I (Plan 193), which built a lump sum at maturity instead of a pension. For a pension product sold today, compare LIC New Pension Plus (Plan 867) or use the LIC pension calculator.
How to use this calculator
- Choose regular or single premium and enter your age.
- Enter the premium, payment mode and deferment period.
- Select the fund and assumed return.
- Pick the life cover level.
- Read the fund value, commutation, pension and year-wise table. These are illustrations, not guaranteed values.
Frequently asked questions
When was LIC Market Plus I Plan 191 launched and withdrawn?
It was launched on 17 June 2008 and withdrawn from sale on 1 September 2010, when new IRDA rules for ULIPs came into force. Existing policies continue until vesting on their original terms.
What is the difference between Market Plus 181 and Market Plus I 191?
Market Plus I replaced Plan 181 in 2008. It charged a lower first-year allocation on bigger premiums, required at least 10 years' deferment for regular premiums, raised the minimum single premium to ₹30,000 and allowed vesting up to age 85 without life cover.
What charges apply in Market Plus I 191?
The first-year allocation charge ranges from 16.5% (premium up to ₹75,000) to 13.5% (above ₹5 lakh), then 2.5% a year. There is also an admin charge of ₹60 a month in year 1 and ₹20 later, a fund management charge of 0.5% to 0.8%, and mortality charges with life cover.
Can I withdraw money or take a loan from Market Plus I?
No. The plan does not allow partial withdrawals or loans before vesting. You can surrender it, but the surrender value is paid only after three policy years are complete.
How much pension can I get from Market Plus I 191?
It depends on the fund at vesting and annuity rates then. In our calculator, ₹1 lakh a year for 20 years from age 40 builds about ₹41.46 lakh. Two-thirds of it at an assumed 6.5% gives about ₹14,973 a month.
What is the death benefit in Market Plus I 191?
With life cover, the nominee receives the sum assured plus the fund value. Without life cover, the fund value is paid. The nominee can take it as a lump sum or as a pension.
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.