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LIC Protection Plus (Plan 886): The New ULIP Everyone Is Talking About in 2025 — Features, Benefits, Maturity & Full Review

LIC Protection Plus

LIC Protection Plus Plan (886) – Full Details, Benefits, Eligibility & Review (2025)

If you’re searching for a smart investment plan that offers both life cover + market-linked returns, LIC’s newly launched Protection Plus Plan (Plan No. 886) is one of the most powerful ULIPs introduced in 2025.

This plan is ideal for people who want long-term wealth creation, life insurance security, and flexible fund options—all in one.

In this guide, you’ll get:

✔ Full details directly from official LIC documents
✔ Eligibility, features, charges, benefits
✔ Advantages & risks
✔ Expert review
✔ FAQs

Let’s dive in.

What is LIC Protection Plus Plan 886?

LIC Protection Plus (UIN: 512L361V01) is a Non-Par, Linked, Life, Individual, Savings Plan (ULIP).
It offers:

  • Life insurance cover

  • Investment in market-linked funds

  • Top-up facility

  • Partial withdrawals

  • Option to increase/decrease sum assured

  • Accidental death benefit rider

  • Refund of mortality charges at maturity

📌 Important:
Investment risk is fully borne by the policyholder, as stated in LIC’s official documents.

⭐ Key Features of LIC Protection Plus (886)

According to the official LIC brochure, the major features include:

✔ Life cover throughout the policy term

Even during the grace period, life cover continues.

✔ Six investment fund options

From low-risk Bond Fund to very high-risk Flexi Smart Growth Fund.

Introduction of Protection Plus…

✔ Option to increase or decrease Basic Sum Assured

Based on your life events such as marriage or childbirth.

Introduction of Protection Plus…

✔ Top-up premium option

Invest extra money anytime (except last 5 policy years).

LIC Protection plus sales broch…

✔ Partial withdrawals allowed after 5 years

Up to 30% depending on policy year.

LIC Protection plus sales broch…

✔ Refund of mortality charges at maturity

Unique ULIP benefit.

✔ Method of death claim settlement: lump sum or installment

🧮 Eligibility & Restrictions (LIC Protection Plus Plan 886)

Based entirely on LIC’s official documentation:

Premium Paying Term (PPT) & Policy Terms

PPT Policy Term
5 10, 15, 20, 25 years
7 10, 15, 20, 25 years
10 10, 15, 20, 25 years
15 15, 20, 25 years

Minimum Entry Age

✔ 18 years (completed)

Maximum Entry Age

Introduction of Protection Plus…

  • PPT 5 years → max 50 years

  • PPT 7, 10, 15 years → max 65 years

Maximum Maturity Age

  • 10-year term → 75 years

  • 15-year term → 80 years

  • 20-year term → 85 years

  • 25-year term → 90 years

Minimum Premium

Depends on PPT:

PPT Yearly Half-yearly Quarterly Monthly
5, 7, 10 yrs ₹60,000 ₹30,000 ₹15,000 ₹5,000
15 yrs ₹36,000 ₹18,000 ₹9,000 ₹3,000

Basic Sum Assured

  • Minimum:

    • 7× Annual Premium (Age < 50)

    • 5× Annual Premium (Age ≥ 50)

  • Maximum: As per age & PPT table defined in LIC docs.

🌟 Investment Fund Options (Very Important)

LIC offers six segregated funds under this ULIP:

Fund Type Equity Exposure Risk Level Objective
Bond Fund Nil Low Safe, debt-based returns
Secured Fund 15–55% Low-Medium Steady income
Balanced Fund 30–70% Medium Balanced growth
Growth Fund 40–80% High Long-term capital growth
Flexi Growth Fund 40–100% Very High NIFTY 100 Index focused
Flexi Smart Growth Fund 40–100% Very High NIFTY 50 Index focused

NAV movements follow strict IRDAI cut-off rules.

💰 Benefits of LIC Protection Plus Plan 886

1️⃣ Death Benefit (Highest of 3 values)

If the policy is in force, the nominee receives the highest of:

  • Basic Sum Assured (subject to adjustments)

  • Base Premium Fund Value

  • 105% of total premiums paid

If top-ups exist, their highest value is also paid.

2️⃣ Maturity Benefit

  • Fund Value (Base Premium Fund + Top-up Fund)

  • Refund of mortality charges

  • Paid at NAV of maturity date.

3️⃣ Partial Withdrawals (After 5 years)

Allowed up to:

  • 15% (Year 6–10)

  • 20% (Year 11–15)

  • 25% (Year 16–20)

  • 30% (Year 21–25)

Conditions apply.

4️⃣ Top-up Premium Benefits

  • Extra investment

  • 1.25× Top-up Sum Assured

  • Minimum ₹1,000 top-up

  • Lock-in of 5 years (except surrender)

5️⃣ Rider Benefit

You can opt for the LIC Linked Accidental Death Benefit Rider.
Covers accidental death up to the Basic Sum Assured.

📌 Charges Under LIC Protection Plus Plan

As per the official LIC document:

✔ Premium Allocation Charges

  • Offline: 8% → 5.5% → 3% (year-wise)

  • Online: 3% → 2% → 1%

  • Top-up: 2.5% (offline), 1.5% (online)

✔ Fund Management Charge

As per IRDAI rules.

✔ Mortality Charge

Based on age.

✔ Policy Administration Charge

Applicable monthly.

✔ Partial Withdrawal Charge

Up to ₹500.

✔ Switching Charge

Up to ₹500.

✔ Discontinuance Charges

As per the limits.

🔎 Surrender Rules

⭐ During the first 5 years

  • The fund is shifted to the Discontinued Policy Fund

  • Paid only after completion of the lock-in

  • No risk cover during this period

    LIC Protection plus sales broch…

⭐ After 5 years

  • Full Fund Value paid

  • Policy terminates

⭐ Review: Should You Buy LIC Protection Plus (886)?

Who should buy this plan?

✔ Long-term investors (10+ years)
✔ People wanting life cover + market growth
✔ Those who prefer trusted LIC branding
✔ Investors willing to take market risk

Pros

  • Very flexible ULIP

  • Six fund choices

  • Refund of mortality charges

  • High equity exposure available

  • Partial withdrawal & top-ups

  • Strong death benefit protection

Cons

  • Market risk is on the policyholder

  • Lock-in of 5 years

  • Charges are present (like every ULIP)

⭐ Expert Verdict

LIC Protection Plus is an excellent long-term ULIP for people looking for growth + protection backed by LIC’s trust. If you can stay invested for 10–20 years, this plan can help you build strong wealth while keeping your family financially secure.

❓ Frequently Asked Questions (FAQs)

1. Is LIC Protection Plus (886) a ULIP?

Yes, it is a Unit Linked Insurance Plan with market-linked returns.

2. What is the minimum premium?

₹36,000–₹60,000 yearly, depending on PPT.

3. Can I withdraw money before 5 years?

No. ULIPs have a mandatory 5-year lock-in.

4. Is the maturity amount guaranteed?

No. It depends on fund NAV performance.

5. Can I increase the Basic Sum Assured later?

Yes, within 12 months of key life events.

🎥 Suggested YouTube Video :-

LIC Protection Plus Plan 886 Review – Benefits, Charges, Returns, Eligibility Explained

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