LIC Money Plus I (Plan 193, UIN 512L248V02) is a regular-premium unit-linked endowment plan sold from 22 May 2008 to 1 September 2010. The fund value is paid at maturity and the higher of sum assured or fund value on death. By our calculator, ₹25,000 a year for 15 years from age 30 at an assumed 8% gross return grows to about ₹6.37 lakh.
Money Plus I 193 Fund Value Calculator
Your estimate
fund value at maturity
- Basic sum assured
- ₹2,50,000
- Premium per instalment
- ₹25,000
- Total charges deducted
- ₹52,536
- Net gain
- ₹2,61,581
- Death benefithigher of sum assured or fund value
- ₹2,50,000
- Approx. return (IRR)
- 6.37%
- Age at maturity
- 45 years
- Total premium paid₹3,75,00059%
- Net gain₹2,61,58141%
Year-wise fund value projection
| Year | Age | Premium paid | Estimated fund value | Death benefit |
|---|---|---|---|---|
| 1 | 31 | ₹25,000 | ₹18,636 | ₹2,50,000 |
| 2 | 32 | ₹25,000 | ₹44,918 | ₹2,50,000 |
| 3 | 33 | ₹25,000 | ₹73,121 | ₹2,50,000 |
| 4 | 34 | ₹25,000 | ₹1,04,060 | ₹2,50,000 |
| 5 | 35 | ₹25,000 | ₹1,37,270 | ₹2,50,000 |
| 6 | 36 | ₹25,000 | ₹1,72,922 | ₹2,50,000 |
| 7 | 37 | ₹25,000 | ₹2,11,201 | ₹2,50,000 |
| 8 | 38 | ₹25,000 | ₹2,52,307 | ₹2,52,307 |
| 9 | 39 | ₹25,000 | ₹2,96,408 | ₹2,96,408 |
| 10 | 40 | ₹25,000 | ₹3,43,695 | ₹3,43,695 |
| 11 | 41 | ₹25,000 | ₹3,94,397 | ₹3,94,397 |
| 12 | 42 | ₹25,000 | ₹4,48,762 | ₹4,48,762 |
| 13 | 43 | ₹25,000 | ₹5,07,055 | ₹5,07,055 |
| 14 | 44 | ₹25,000 | ₹5,69,560 | ₹5,69,560 |
| 15 | 45 | ₹25,000 | ₹6,36,581 | ₹6,36,581 |
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 Money Plus I Plan 193?
LIC Money Plus I (Plan 193) is a regular-premium unit-linked endowment plan (UIN 512L248V02). It gives life cover for the policy term and invests the rest of your premium in one of four funds. At maturity you receive the fund value; on death the nominee gets the higher of the sum assured or the fund value.
LIC launched Money Plus I on 22 May 2008 as the successor to Money Plus (Plan 180), and withdrew it on 1 September 2010 under IRDA’s revised ULIP rules. If you hold a policy, this calculator shows how charges and returns shape your fund.
Money Plus I 193 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 193 / 512L248V02 |
| Plan type | Unit-linked endowment plan |
| Premium modes | Yearly, half-yearly, quarterly, monthly (ECS) |
| Minimum premium | ₹5,000 a year; monthly ECS from ₹1,000 |
| Sum assured | 5× to 30× annual premium |
| Funds | Bond, Secured, Balanced, Growth |
| Fund switches | Four free switches a year |
| Partial withdrawal | After 3 policy years |
| Riders | Accident benefit, critical illness (up to ₹10 lakh) |
| Status | Withdrawn on 1 September 2010 |
Charges built into the calculator
| Charge | Rate used |
|---|---|
| Premium allocation, year 1 | 26.5% (up to ₹75,000); 25.5%, 24% or 23% for higher bands |
| Premium allocation, years 2–3 | 5% |
| Premium allocation, year 4 onward | 2.5% |
| Policy administration | ₹60 a month in year 1, ₹20 a month in year 2, rising 3% a year |
| Fund management | 0.5% (Bond) to 0.8% (Growth) a year |
| Mortality | On sum at risk (sum assured minus fund value), by age |
Worked examples
Example 1. A 30-year-old pays ₹25,000 a year for 15 years into the Balanced fund with a sum assured of ₹2,50,000 (10×). At an assumed 8% gross return, the maturity value is about ₹6,36,581. Premiums total ₹3,75,000 and charges about ₹52,536, a return of roughly 6.37% a year.
Example 2. A 35-year-old pays ₹50,000 a year for 20 years into the Growth fund with ₹5 lakh cover. At an assumed 10%, the fund reaches about ₹26,41,671 after charges of about ₹2,12,899, roughly 8.55% a year.
Tip: the high first-year charge makes early exit costly. The year-wise table shows the fund running below premiums paid in the first few years, so let the policy run its full term if you can.
Maturity and death benefit
- Maturity: units × NAV on the maturity date. There is no guaranteed return.
- Death: the higher of the sum assured or the fund value, if the policy is in force. Rider benefits are paid in addition.
- After a partial withdrawal: the sum assured is reduced by the amount withdrawn for two years.
Withdrawals, surrender and revival
Partial withdrawals and surrender are allowed after three policy years. A lapsed policy can be revived within two years. If it is not revived, it is compulsorily surrendered and the value is paid after the third policy year.
Tax
Premiums were deductible under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the old tax regime. Maturity proceeds are generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) when the sum assured meets the conditions for the policy’s issue date. Our projection adds no GST on charges, since individual life policies have been GST-exempt from 22 September 2025; earlier service tax or GST deductions mean a real fund may be slightly lower.
Money Plus I vs its siblings
Money Plus I was the lump-sum sibling of the pension plan Market Plus I (Plan 191). Compared with Money Plus 180, it added premium-band allocation charges, monthly ECS, higher cover of up to 30× and a critical illness rider. For a ULIP on sale today, look at LIC Index Plus (Plan 873) or try the LIC ULIP calculator.
How to use this calculator
- Enter age and policy term.
- Enter the annual premium and choose the mode.
- Choose the sum assured multiple, fund and assumed return.
- Read the maturity value, charges, death benefit and year-wise table. These are illustrations, not guaranteed values.
Frequently asked questions
When was LIC Money Plus I launched and withdrawn?
LIC launched Money Plus I (Plan 193) on 22 May 2008 and withdrew it for new business on 1 September 2010, when IRDA's revised ULIP rules came into force. Existing policies continue until maturity.
What are the allocation charges in Money Plus I 193?
For annual premiums up to ₹75,000, the charge is 26.5% in year 1, 5% in years 2 and 3, and 2.5% after that. Larger premiums had lower first-year charges of 25.5%, 24% or 23%, depending on the band.
What is the death benefit in Money Plus I?
The nominee receives the higher of the basic sum assured or the fund value, provided the policy is in force. Accident benefit and critical illness riders, if taken, pay extra.
Can I withdraw money from Money Plus I before maturity?
Yes, partial withdrawals are allowed after three policy years, subject to a minimum fund balance. The sum assured is reduced by the amount withdrawn for two years. Surrender is also allowed after three years.
What will Money Plus I 193 pay at maturity?
The fund value on the maturity date. In our calculator, ₹25,000 a year for 15 years from age 30 grows to about ₹6,36,581 at an assumed 8% gross return, after about ₹52,536 in estimated charges.
What sum assured could I choose in Money Plus I?
From 5 times to 30 times the annual premium, depending on age and underwriting. A higher sum assured raises mortality charges, which slightly lowers the fund value.
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.