LIC Protection Plus Plan 886 is a brand-new Unit Linked Insurance Plan (ULIP) from LIC that combines life insurance protection with market-linked investment and a special feature of refund of mortality charges at maturity.

What is LIC Protection Plus Plan 886?

LIC Protection Plus Plan 886 is a Non-Participating, Linked, Individual, Savings ULIP that provides life cover along with investment in different funds as per your risk appetite. It is identified by UIN 512L361V01 and can be purchased both offline through LIC agents and online via LIC’s official website.​youtube​

This plan is suitable for those who want long-term protection, wealth creation through equity/debt funds, and flexibility in premium payment and withdrawals.​

Launch Date and Basic Details

LIC launched Protection Plus Plan 886 on 3rd December 2025 along with LIC’s Bima Kavach through an official press release and public announcements. As of now it is an active plan and is available for new customers across India in both online and offline modes.​

It is designed as a long-term plan with multiple policy terms and premium paying terms to match different financial goals like child education, retirement, or wealth creation with protection.​

Key Features of LIC Protection Plus 886

Some of the main features that make this plan different from older ULIPs are:

• It offers life insurance + investment in 6 different funds (Bond, Secured, Balanced, Growth, Flexi Growth, Flexi Smart Growth) so you can choose low, medium or high risk.​
• It provides refund of all mortality charges at maturity if the policy runs till the end and is not surrendered, which boosts overall return potential.
• You get options like top-up premiums, partial withdrawals after lock-in, free fund switches, and accident benefit rider for extra protection.​

Eligibility and Entry Conditions

The eligibility conditions are quite flexible so that many individuals can enter this plan.

• Minimum Entry Age: 18 years (completed).​
• Maximum Entry Age: Up to 65 years, depending on selected Premium Paying Term (PPT).​
• Maximum Maturity Age: Generally up to 90 years, again depending on term chosen.​

Policy Term and PPT combinations are typically:

• PPT 5 years: Policy term 10, 15, 20, or 25 years.
• PPT 7 years: Policy term 10, 15, 20, or 25 years.
• PPT 10 years: Policy term 10, 15, 20, or 25 years.
• PPT 15 years: Policy term 15, 20, or 25 years.​

Sum Assured and Premium Rules

In this plan, your Basic Sum Assured (BSA) is linked to your annual premium through a multiple.

• For younger ages (below 50 years), the minimum multiple is usually 7 times the annualised premium.​
• For age 50 years and above, the minimum multiple is typically 5 times the annualised premium.​

You can also add Top‑up premiums, and each top‑up creates an additional Top‑up Sum Assured, generally 1.25 times of total top‑up amount.

Premium payment modes include yearly, half‑yearly, quarterly and monthly (NACH/online), with different minimum amounts per mode as defined by LIC.​

Investment Funds in Protection Plus

Being a ULIP, your money is invested in units of funds chosen by you. LIC Protection Plus typically offers six funds with different risk levels:

• Bond Fund – focuses on government and high‑quality debt instruments, suitable for low‑risk investors.
• Secured / Balanced / Growth Funds – gradually increase the equity portion, balancing safety and growth potential.​
• Flexi Growth and Flexi Smart Growth Funds – invest largely in Nifty 100 or Nifty 50 based equities, suitable for higher risk, long‑term investors.

You can allocate the premium among these funds and also switch between funds a few times in a year without any or with very nominal charges.

Death Benefit Structure

The death benefit under LIC Protection Plus Plan 886 is designed to give the nominee the highest of multiple values.

On death of the life assured during the policy term (while the policy is in force):

• The nominee receives the highest of:
  • Basic Sum Assured (after deducting allowed partial withdrawals, if any),
  • Fund Value of the base policy, or
  • 105% of total premiums paid (base + top‑ups, excluding some charges as per rules).​

If top‑up premiums have been paid, an additional death benefit corresponding to top‑up fund value and top‑up sum assured is usually payable as per LIC’s conditions.

Maturity Benefit and Mortality Charge Refund

If the policyholder survives till the end of the policy term and the policy is in force:

• The maturity benefit equals the unit fund value under the policy on the date of maturity.​
• A unique feature is refund of mortality charges: the total mortality charges deducted during the policy term (for base cover) are added back at maturity, which effectively enhances the final payout.

This combination of fund value plus mortality refund makes the plan attractive for those who stay invested for the full term.

Important Charges in the Plan

Like all ULIPs, LIC Protection Plus Plan 886 has certain charges, which the calculator usually takes into account while projecting values.

Common charges include:

• Premium Allocation Charge (PAC): A percentage of premium deducted upfront in initial years; lower in online purchase compared to offline as per LIC schedule.
• Fund Management Charge (FMC): A small percentage per year (for example, around 1.35% p.a.) adjusted in NAV calculation.
• Policy Administration Charge: Zero in the first few years and a fixed or escalating amount per month after a certain period.
• Mortality Charge: Charge for life cover, based on age and sum at risk, deducted monthly from the fund value.

The LIC Protection Plus Calculator adjusts for these charges in its projections so that you see a more realistic picture of fund growth.

Partial Withdrawals and Top‑Ups

LIC Protection Plus offers flexibility for mid‑term needs through partial withdrawals and top‑ups.

• Partial Withdrawals: Usually allowed after a 5‑year lock‑in period, subject to minimum withdrawal amount and minimum balance rules as per LIC conditions.
• Top‑up Premiums: Can be added any time (except in the last few years of the policy term) to increase your investment and associated top‑up sum assured.

The calculator can be used to see how additional top‑ups and withdrawals impact your fund value and future maturity benefit.

What is LIC Protection Plus Plan 886 Calculator?

The LIC Protection Plus Plan 886 Calculator is an online tool that helps you:

• Estimate premium amount for a chosen sum assured and policy term.
• Project fund value and maturity amount under different assumed rates of return.
• Understand death benefit and the impact of fund choice over the policy period.​

Some third‑party insurance websites and financial blogs have already started offering basic calculators and premium/maturity estimators for Protection Plus.​

Inputs Used in the Calculator

Typically, the calculator asks for a few basic details and then computes results:

• Age, gender and smoking status of the life assured.​
• Policy Term and Premium Paying Term (PPT) you want.
• Desired Sum Assured or the premium you can pay regularly.
• Premium payment mode (yearly, half-yearly, quarterly, monthly).​
• Fund choice (e.g., Bond, Balanced, Growth, etc.) and expected rate of return scenario (conservative, moderate, aggressive).

Based on these inputs, the calculator shows premiums or benefits, assuming LIC’s latest rules and charges.

Outputs Shown by the Calculator

After entering your details, the LIC Protection Plus Plan 886 Calculator generally displays:

• Approximate premium required for selected sum assured and term (if you entered sum assured).​
• Projected fund value at maturity under different assumed return rates (for example 4%, 8%, etc., as commonly used in ULIP illustrations).​
• Indicative death benefit values for earlier years, helping you understand family protection at each stage.​

Some calculators may also break down charges, show how NAV and units increase over time, and how partial withdrawals or top‑ups change the projection.

How to Use LIC Protection Plus 886 Calculator Step by Step

You can follow a simple process to use this calculator effectively:

1. Open a reliable calculator website
   Visit the official LIC page for LIC’s Protection Plus or a trusted calculator site which clearly mentions Plan 886 and UIN 512L361V01.​
2. Enter basic details
   Fill in age, gender, smoking preference, and sometimes city or pin code if required for demographic analysis.​
3. Choose plan options
   Select policy term (10–25 years) and premium paying term (5, 7, 10, or 15 years) along with your preferred premium mode (Yly/Hly/Qly/Mly).​
4. Set premium or sum assured
   Either enter the annual premium you can afford or the sum assured you want; the calculator will compute the other parameter accordingly as per LIC rules.​
5. Pick fund option and return scenario
   Choose one or more funds (e.g., Growth or Balanced) and select low/medium/high return assumptions to see different projections.​
6. Check results and adjust
   Review the premium, projected maturity amount and death benefit; then tweak term, premium, or funds until the values fit your financial goal and risk profile.​

Why the Calculator is Important Before Buying

Using the LIC Protection Plus Plan 886 Calculator before buying the policy gives several advantages:

• It helps you match premium to budget so that you do not over-commit or under‑insure yourself.​
• It shows realistic maturity expectations after factoring in charges, so you understand that returns depend on market performance and costs.​
• It allows easy comparison of different terms, sums assured and fund strategies, which is difficult to do manually.​

For agents or financial planners, the calculator is also helpful for demonstrating plan benefits to customers in a clear way.

Sample Use Case (Conceptual)

Suppose a 35‑year‑old salaried person wants life cover plus investment for 20 years.

• Age 35, non‑smoker, chooses PPT 10 years and policy term 20 years with annual premium of ₹1,00,000.​
• Basic Sum Assured may be a multiple like 10–15 times premium depending on LIC rules, so approximate BSA can range around ₹10–15 lakh in this example.​
• The calculator then projects fund value under different return assumptions, say 4% and 8% per year net of charges, and shows expected maturity value plus mortality refund.​

This helps the person decide whether the plan aligns with goals such as education or long‑term wealth creation, and whether the protection is adequate for dependents.

Advantages of LIC Protection Plus Plan 886

Some major advantages that come out clearly when you use the calculator and study the features are:

• Dual benefit of life cover and investment with potential for higher returns in equity‑oriented funds.
• Mortality charge refund at maturity, which is not very common and adds to overall benefit for long‑term policyholders.
• Flexible premium and term options, multiple fund choices, top‑ups, and partial withdrawals after the lock‑in period.​

The plan is therefore useful for investors who are comfortable with market risk and are looking for protection plus wealth creation in one product.

Limitations and Risks You Should Know

Despite many benefits, it is important to understand limitations before deciding:

• As a ULIP, returns depend entirely on market performance of the chosen funds; there is no guaranteed maturity amount.
• Various charges (allocation, FMC, administration, mortality) can reduce effective returns compared to a pure mutual fund or a pure term plan plus mutual fund combination.​
• Partial withdrawals and frequent fund switches, if not planned properly, can disturb long‑term compounding and reduce final corpus.​

Therefore, the plan is better suited for long‑term investors who can remain patient and understand market volatility.

Where to Find Official Information and Calculators

For up‑to‑date and fully authentic details, you should always refer to:

• The official LIC product page for LIC’s Protection Plus Plan 886: https://licindia.in (navigate to “LIC’s Protection Plus”).​
• LIC’s press release about the launch of Protection Plus and Bima Kavach.​
• Trusted insurance education websites that explain features and provide calculators for LIC Protection Plus 886.​

Visiting these sources ensures that you see the latest conditions, charges, and regulatory updates rather than outdated or unofficial figures.

FAQ

Final Practical Tips Before Using the Plan and Calculator

Before making any final decision about LIC Protection Plus Plan 886:

• First, clearly define your financial goal (e.g., child education, retirement, wealth creation with life cover) and time horizon.​
• Use the calculator with multiple scenarios: change term, premium and fund choice to see best and worst‑case projections.​
• Compare this ULIP approach with the combination of pure term insurance + mutual fund SIP, especially if your main priority is low‑cost protection.​

If required, consult a licensed LIC agent or SEBI‑registered investment advisor who can check your overall financial situation and help you decide whether LIC Protection Plus Plan 886 suits your needs.