PolicyBros.in
ULIP PlansPlan 886NRI Eligible

LIC Protection Plus

High sum assured ULIP, ₹2 crore minimum coverage with market returns

What is LIC Protection Plus?

LIC Protection Plus (Plan 886, UIN 512L361V01) is a unit linked (ULIP) plan from Life Insurance Corporation of India. Returns come from the performance of the funds your premium is invested in, not from declared bonuses, so the maturity value moves with the market.

Premiums are paid for a shorter period than the policy runs, so the cover continues after you have finished paying. If the policyholder dies during the term, the nominee receives: Higher of Sum Assured or fund value. On surviving the full term, the policyholder gets: Fund value at maturity.

It suits people looking for high net worth, high coverage with investment and wealth creation. NRIs can buy this plan too.

Key Highlights

Minimum ₹2 crore life cover
Market-linked returns potential
For HNI and high-income earners
Launched December 2025, newest LIC ULIP

Benefits Explained Simply

If Something Happens to You (Death Benefit)

Higher of Sum Assured or fund value

When the Plan Matures (Maturity Benefit)

Fund value at maturity

Eligibility & Details

Minimum Entry Age18 years (completed)
Maximum Entry Age65 years
Minimum Sum Assured₹2,00,00,000
Policy Term10, 15, 20, 25 years
Premium Paying Term5, 7, 10 years
Bonus Typenone
Risk Levelhigh
NRI EligibleYes

Tax Benefits

  • Section 80C deduction on premiums
  • Maturity may be tax-free

Premium Rates (Indicative)

Age10 years15 years20 years25 years
20 yrs₹60,000₹60,000₹60,000₹60,000
30 yrs₹60,000₹60,000₹60,000₹60,000
40 yrs₹60,000₹60,000₹60,000₹60,000

VERIFIED from official LIC Sales Brochure. ULIP with 6 fund options (Bond, Secured, Balanced, Growth + 2 more). BSA = 5-40x annualized premium based on age and PPT. Top-up premium facility. Increase/decrease BSA on life events.

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

Example: What You Could Get

If a 30-year-old buys this plan with ₹10 lakh sum assured, 15-year term:

Annual Premium

₹1,42,857

Total Paid (15 yrs)

₹21,42,855

Est. Bonuses

₹6,75,000

Est. Maturity

₹16,75,000

That's approximately 0.8x of what you paid in premiums.

Maturity Benefit Illustration
Estimated

What you pay vs what you could receive (conservative estimate with assumed bonus rate of ~Rs.48-60 per Rs.1,000 SA per year)

Age 25396% return
You Pay: 2.00 Cr
x
You Get: 7.92 Cr
x
Age 30396% return
You Pay: 2.00 Cr
x
You Get: 7.92 Cr
x
Age 35396% return
You Pay: 2.00 Cr
x
You Get: 7.92 Cr
x
Age 40396% return
You Pay: 2.00 Cr
x
You Get: 7.92 Cr
x
Entry AgeAnnual PremiumTotal You PayEst. MaturityReturn
25 yrs₹28,57,1432.00 Cr7.92 Cr396%
30 yrs₹28,57,1432.00 Cr7.92 Cr396%
35 yrs₹28,57,1432.00 Cr7.92 Cr396%
40 yrs₹28,57,1432.00 Cr7.92 Cr396%

Sum Assured: ₹2,00,00,000 | Term: 20years | Bonus assumption: ~Rs.48-60 per Rs.1,000 SA per year (conservative). Actual maturity depends on LIC's declared bonus rates. This is for illustration only. Please consult your insurance advisor for accurate projections.

Who is This Plan Best For?

high net worthhigh coverage with investmentwealth creation

Frequently Asked Questions

What is LIC Protection Plus (Plan 886)?

LIC Protection Plus is a ulip plans plan from Life Insurance Corporation of India. High sum assured ULIP, ₹2 crore minimum coverage with market returns.

What is the eligibility age for LIC Protection Plus?

Entry age is between 18 and 65 years. Policy term: 10 to 25 years. Premium paying term: 5 to 10 years.

What is the minimum sum assured for LIC Protection Plus?

Minimum sum assured is ₹2,00,00,000. There is no upper limit on sum assured.

What are the tax benefits of LIC Protection Plus?

Section 80C deduction on premiums. Maturity may be tax-free.

Is LIC Protection Plus available for NRIs?

Yes. LIC Protection 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 Protection 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 Protection Plus?

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