LIC Profit Plus 188 was a unit-linked plan sold from 23 August 2007 to 1 September 2010, with a single premium or 3–5 years of premiums over a 5–20 year term. At maturity you get the fund value. By our estimate, ₹50,000 a year for 5 years at age 30, over 15 years in the balanced fund at 8% gross, grows to about ₹5.52 lakh.
Profit Plus 188 Fund Value Calculator
Your estimate
projected fund value at maturity
- Death benefitin year 1: higher of sum assured or fund value
- ₹5,00,000
- Premium allocation charges
- ₹20,000
- Total charges deducted
- ₹63,310
- Approx. return (IRR)
- 6.25%
- Age at maturity
- 45 years
- Total premium paid₹2,50,00045%
- Net gain₹3,02,11155%
Year-wise fund value projection
| Year | Age | Premium paid | Estimated fund value | Death benefit |
|---|---|---|---|---|
| 1 | 31 | ₹50,000 | ₹39,337 | ₹5,00,000 |
| 2 | 32 | ₹50,000 | ₹92,784 | ₹5,00,000 |
| 3 | 33 | ₹50,000 | ₹1,50,148 | ₹5,00,000 |
| 4 | 34 | ₹50,000 | ₹2,11,727 | ₹5,00,000 |
| 5 | 35 | ₹50,000 | ₹2,77,839 | ₹5,00,000 |
| 6 | 36 | ₹0 | ₹2,97,351 | ₹5,00,000 |
| 7 | 37 | ₹0 | ₹3,18,286 | ₹5,00,000 |
| 8 | 38 | ₹0 | ₹3,40,754 | ₹5,00,000 |
| 9 | 39 | ₹0 | ₹3,64,874 | ₹5,00,000 |
| 10 | 40 | ₹0 | ₹3,90,772 | ₹5,00,000 |
| 11 | 41 | ₹0 | ₹4,18,588 | ₹5,00,000 |
| 12 | 42 | ₹0 | ₹4,48,461 | ₹5,00,000 |
| 13 | 43 | ₹0 | ₹4,80,558 | ₹5,00,000 |
| 14 | 44 | ₹0 | ₹5,15,058 | ₹5,15,058 |
| 15 | 45 | ₹0 | ₹5,52,111 | ₹5,52,111 |
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 Profit Plus Plan 188?
LIC Profit Plus (Plan 188, UIN 512L245V02) is a unit-linked insurance plan (ULIP), where the investment risk is borne by the policyholder. Premiums, after charges, buy units in one of LIC’s funds. The value of the policy rises and falls with the fund’s NAV. It also carries life cover.
LIC launched the plan on 23 August 2007 and withdrew it on 1 September 2010, when IRDAI’s new ULIP rules took effect. Because terms ran up to 20 years, some policies are still in force and will mature up to about 2030. This page is meant for those policyholders.
Profit Plus 188 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 188 / 512L245V02 |
| Type | Unit-linked insurance plan |
| Premium options | Single premium, or limited premium for 3, 4 or 5 years |
| Policy term | 5 to 20 years |
| Entry age | Up to 65 years; minimum maturity age 18 |
| Maximum maturity age | 75 (70 with 3-year payment) |
| Minimum premium | ₹10,000 a year (limited), ₹20,000 (single) |
| Funds | Bond, Secured, Balanced, Growth |
| Status | Withdrawn on 1 Sep 2010 |
How the calculator projects your fund
- Premium allocation charge is deducted from each premium: 5% (or 4.5% above ₹4 lakh) for single premium; for limited premium, about 9–10.5% in year 1 with 3 or 4-year payment, or 22.5–24% in year 1 with 5-year payment, then 2.5% or 4%.
- Policy administration charge of ₹60 a month in the first year and ₹20 after.
- Mortality charge on the sum at risk.
- Growth at your assumed return, less the fund management charge (0.5% to 0.8% by fund).
Worked example: age 30, ₹50,000 a year for 5 years, 15-year term, ₹5 lakh sum assured, balanced fund.
| Assumed gross return | Maturity value | Yearly return (IRR) |
|---|---|---|
| 4% | ₹3,34,222 | 2.25% |
| 8% | ₹5,52,111 | 6.25% |
Total premiums: ₹2,50,000. Allocation charges alone take ₹20,000 in this case. A single premium of ₹2 lakh under the same assumptions reaches about ₹5,25,256 in 15 years.
Tip: plug in your fund’s actual long-run return instead of 8%. The NAV history of LIC’s funds is published, so you can see how your fund has done.
Death benefit
The nominee receives the higher of the sum assured or the fund value. In the example above, the family would receive at least ₹5 lakh in the early years, and the fund value once it grows past that.
Withdrawals, surrender and revival
- Partial withdrawal: after three policy years, keeping at least ₹10,000 in the fund.
- Surrender: after three years, you receive the fund value.
- Switches: you can move between the four funds.
- Revival: a lapsed policy could be revived within two years of the first unpaid premium.
- Settlement option: at maturity you may be able to take the fund in instalments rather than as a lump sum.
Tax
Premiums qualified for Section 123 of the Income-tax Act, 2025 (earlier Section 80C) deduction. For policies issued before April 2012, maturity proceeds are generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) if the premium in any year did not exceed 20% of the sum assured.
Profit Plus vs other LIC ULIPs
Profit Plus belonged to LIC’s early ULIP family along with LIC Fortune Plus 187, Money Plus and Market Plus. All of them were withdrawn in 2010. Today’s ULIPs, such as LIC SIIP 752, have lower, capped charges under IRDAI rules. To project a current LIC ULIP, SIIP 752 or Nivesh Plus 749, use our ULIP calculator.
How to use this calculator
Enter your policy details (premium type, age, term, premium, sum assured and fund) and an expected return. The calculator shows the projected maturity value, total charges, IRR and a year-wise table of fund value and death benefit. These are illustrations; your actual value depends on your fund’s NAV.
Frequently asked questions
Can I still buy LIC Profit Plus 188?
No. LIC stopped selling Profit Plus on 1 September 2010, when new IRDAI rules for ULIPs came into force. Existing policies continue until maturity. For a current LIC ULIP, look at SIIP 752 or Index Plus 873.
How is the maturity value of Profit Plus 188 worked out?
The maturity value is the number of units in your account multiplied by the NAV on the maturity date. It depends on your premiums, the charges deducted and how your chosen fund performed. There is no guaranteed maturity amount.
What is the death benefit under Profit Plus?
If the life assured dies during the term, the nominee receives the higher of the sum assured or the fund value on the date of intimation.
What charges apply in LIC Profit Plus?
A premium allocation charge is taken from each premium, higher in the first year. There is also a policy administration charge (about ₹60 a month in year 1 and ₹20 after), a fund management charge that depends on the fund, and a mortality charge for the life cover.
Can I withdraw money from my Profit Plus policy?
Partial withdrawals are allowed after three policy years, as long as the fund keeps a minimum balance of ₹10,000. You can also surrender the policy after three years and receive the fund value.
Where can I check the NAV of my Profit Plus fund?
LIC publishes daily NAVs for its unit-linked funds on its website and through its customer portal. Multiply your unit balance by the latest NAV of your fund to get the current 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.