PolicyBros.in
Pension PlansPlan 867NRI Eligible

LIC New Pension Plus

Unit-linked pension plan for building retirement corpus

What is LIC New Pension Plus?

LIC New Pension Plus (Plan 867, UIN 512L347V01) is a pension plan from Life Insurance Corporation of India. It is a non-participating plan: your payouts come from the annuity rates locked in when you buy, not from bonus declarations.

Premiums are paid for a shorter period than the policy runs, so the cover continues after you have finished paying. What the plan pays: Fund value used to purchase annuity. On the annuitant's death: Fund value returned to nominee.

It suits people looking for retirement, market-linked growth and long-term. NRIs can buy this plan too.

Key Highlights

Unit-linked pension, market-linked growth
Multiple fund options
Flexible vesting age
Build retirement corpus with equity exposure

Benefits Explained Simply

If Something Happens to You (Death Benefit)

Fund value returned to nominee

When the Plan Matures (Maturity Benefit)

Fund value used to purchase annuity

Eligibility & Details

Minimum Entry Age18 years (completed)
Maximum Entry Age65 years
Minimum Sum Assured₹1,00,000
Policy TermUntil vesting age (55-70)
Premium Paying Term10, 15, 20, 25 years
Bonus Typenone
Risk Levelhigh
NRI EligibleYes

Tax Benefits

  • Section 80CCC deduction on premium
  • Pension is taxable as income

Premium Rates (Indicative)

Age10 years15 years20 years25 years
25 yrs₹1,00,000₹1,00,000₹1,00,000₹1,00,000
35 yrs₹1,00,000₹1,00,000₹1,00,000₹1,00,000
45 yrs₹1,00,000₹1,00,000₹1,00,000₹1,00,000

VERIFIED from official LIC Sales Brochure. ULIP pension plan. Single or Regular premium. 4 fund options (Bond, Secured, Balanced, Growth). GA: 4-15.5% of annual premium at specified years. Partial withdrawal after 5 years. Vesting age 55-80.

Source: LIC Official Sales Brochure | Data last verified: 21 March 2026

Example: What You Could Get

Select a plan with available rates to see an illustration.

Who is This Plan Best For?

retirementmarket-linked growthlong-term

Frequently Asked Questions

What is LIC New Pension Plus (Plan 867)?

LIC New Pension Plus is a pension plans plan from Life Insurance Corporation of India. Unit-linked pension plan for building retirement corpus.

What is the eligibility age for LIC New Pension Plus?

Entry age is between 18 and 65 years. Policy term: Until vesting age (55-70). Premium paying term: 10 to 25 years.

What is the minimum sum assured for LIC New Pension Plus?

Minimum sum assured is ₹1,00,000. There is no upper limit on sum assured.

What are the tax benefits of LIC New Pension Plus?

Section 80CCC deduction on premium. Pension is taxable as income.

Is LIC New Pension Plus available for NRIs?

Yes. LIC New Pension Plus is available to Non-Resident Indians. NRIs can buy this plan during a visit to India or through power of attorney.

What happens if I stop paying premiums on LIC New Pension Plus?

If you stop paying premiums before 3 years, the policy lapses and you lose all benefits. After 3 years of premium payments, the policy acquires a paid-up value and you receive a reduced sum assured. You can also revive a lapsed policy within 5 years by paying outstanding premiums plus interest.

The information above is for educational purposes only. Actual premiums, benefits, and terms are as per LIC of India. For official and complete details, visit licindia.in.

Interested in New Pension Plus?

Get a free consultation and exact premium quote for your age and needs.

View on LIC Official Site

Already have this policy?

Create a free account to track your premium due dates, get reminders, and see all your LIC policies in one dashboard.