LIC Jeevan Plus Plan 173 is an old unit‑linked insurance plan (ULIP) of LIC that was launched in 2005 and later withdrawn from sale. Many people still hold existing policies under this plan and want to understand how the LIC Jeevan Plus Plan 173 calculator works.

What is LIC Jeevan Plus Plan 173?

LIC Jeevan Plus Plan 173 is a unit‑linked insurance plan (ULIP) that combines pure life insurance cover with market‑linked investment. Under this plan, a part of your premium goes towards life cover, and the rest is invested in different funds (like Growth, Bond, Balanced, etc.), whose value keeps changing with the market.

This means:

• Your death benefit is the sum assured plus the current value of your units.
• Your maturity benefit depends on the fund value at the end of the policy term, which is not fixed and depends on market performance.

Because the returns are market‑linked and not guaranteed, the LIC Jeevan Plus Plan 173 calculator is important to get an idea of how much your policy may grow at different assumed return rates.

Launch date and withdrawal date

LIC officially launched Jeevan Plus Plan 173 on 18 October 2005.
The plan was later withdrawn for new sales. LIC stopped issuing new Jeevan Plus policies from 30 June 2006.

So, if someone has this plan:

• It was issued between 18 October 2005 and 30 June 2006 (or later through revival/continuation, if allowed).
• The plan is still active for existing policyholders, but no new entries are allowed.

Key features of Jeevan Plus Plan 173

Here are the main points you should know about the plan before using the calculator:

• Type of plan: Unit‑linked insurance plan (ULIP), non‑guaranteed market‑linked returns.
• Policy term: For the entire life till age 100 years (nearest birthday).
• Entry age: The minimum age at entry is about 5 years and the maximum about 65 years (nearest birthday).
• Premium modes: yearly, half‑yearly, or quarterly regular premium; a single premium is also allowed.
• Minimum premium:
  • Regular premium: ₹5,000 per year (in multiples of ₹1,000).
  • Single premium: ₹25,000 minimum.
• Sum assured limits:
  • Regular premium: 5 to 50 times the annualised premium, with a minimum sum assured of ₹50,000.
  • Single premium: 0.5 to 10 times the single premium, minimum ₹25,000.

Because the original prospectus uses slightly different numbers over time, the exact formula may vary a bit, but the calculator usually follows the same basic structure.

How the LIC Jeevan Plus Plan 173 calculator works

The LIC Jeevan Plus Plan 173 calculator is a simple tool that helps you estimate:

• Approximate death benefit if something happens during the policy term.
• Approximate maturity fund value at different assumed return rates (say, 4%, 6%, 8%).

Although there is no official online “Jeevan Plus 173” calculator on LIC’s current site, many third‑party websites and agents build their own calculators using the plan’s structure and assumptions.

Basic inputs in the calculator

Typically, this calculator asks for:

• Age of the life assured (at entry, in years).
• Gender (male/female), as mortality and premium differ slightly.
• Sum assured (in ₹) you choose under the plan.
• Premium amount (annual or single) and premium mode (yearly, half‑yearly, quarterly).
• Policy term (for Jeevan Plus 173, usually up to 100 years, but often shown as 20–30 years for practical examples).
• Assumed fund return (e.g., 4%, 6%, 8%) to see different growth scenarios.

Using these inputs, the calculator:

1. Works out the net investment after deducting charges.
2. Applies the assumed return rate year‑by‑year to estimate the fund value.
3. Gives you an approximate maturity benefit and (sometimes) refund of premium-type benefits if offered in the variant.

Since the plan is unit‑linked, the actual NAV and fund‑wise performance will decide the final value, but the calculator helps you compare “what‑if” situations.

Example of how to think about the calculator

Suppose you enter:

• Age: 35 years
• Gender: Male
• Sum assured: ₹1,000,000
• Annual premium: ₹60,000
• Policy term: 20 years
• Assumed return: 8% per year

Then the calculator:

• Deducts typical ULIP charges (premium allocation, policy, fund management, etc.).
• Calculates how much amount actually goes into units each year.
• Compounds this at 8% (or your chosen rate) for 20 years.
• Shows:
  • Total premiums paid (e.g., ₹1,200,000).
  • Approximate fund value (e.g., somewhere around ₹2,800,000–₹3,200,000, depending on exact assumptions).
  • Death benefit during policy term (sum assured + fund value at that time).

This kind of example helps you understand whether the plan fits your long‑term goal (wealth creation vs pure protection).

Why should you use the LIC Jeevan Plus Plan 173 calculator?

Here are the main reasons why using this calculator is useful:

• Compare your options: You can change the sum assured, premium, or return rate and see how the fund value changes.
• Check affordability: You can enter your real budget and see if the plan fits into your monthly or yearly expenses.
• Understand market risk: Since returns are not guaranteed, the calculator shows lower‑return scenarios (like 4%) so you know the minimum expected growth.
• Talk to your agent with numbers: Instead of relying only on the agent’s numbers, you can see your own figures and ask questions.

For many people, especially from middle‑class families in India, a calculator like this makes LIC products feel less confusing and more transparent.

LIC Jeevan Plus Plan 173 – Key benefits at a glance

Below is a simple table of the main benefits and features you usually get under this plan.

Feature / Benefit	What it means in simple terms
Type of plan	ULIP (insurance + market‑linked investment)
Policy term	Till age 100 years (whole life).
Entry age	Roughly 5 to 65 years (nearest birthday)
Premium options	Yearly, half‑yearly, quarterly, or single premium
Minimum premium	₹5,000 p.a. (regular); ₹25,000 (single)
Sum assured limits	Regular: 5–50× annual premium; Single: 0.5–10× single premium (with minimal restrictions)
Death benefit	Sum Assured + Fund value at the time of death
Maturity benefit	Fund value at maturity (depends on market performance)
Charges	Premium allocation charge, policy charge, fund management charge, etc. (deducted by cancelling units)
Partial withdrawals	Allowed in many ULIPs; depends on plan rules and minimum fund value
Fund switching	You can switch money between Growth, Bond, Balanced, etc., up to a limited number of free switches per year.

Using the LIC Jeevan Plus Plan 173 calculator, you can see how these features translate into actual numbers on your screen.

How to use the calculator step by step (idea only)

Because the plan is withdrawn, there is no official branded calculator, but you can still build or imagine a simple calculator logic like this:

1. Enter your age and gender
   The calculator will use this for mortality and premium‑rate assumptions.
2. Select sum assured
   Choose the cover you want (say ₹10 lakh, ₹20 lakh, etc.). The calculator will show the required premium range for that sum assured.
3. Choose premium mode and amount
   Enter whether you want yearly, half‑yearly, or quarterly payments and the exact amount you can pay.
4. Select policy term
   Although technically up to 100 years, most people use 20–30 years for practical comparison.
5. Set assumed return
   Choose a conservative rate (4%), medium (6%), and optimistic (8%) to see different scenarios.
6. Click calculate
   The tool will show:
   • Total premium you will pay over the term.
   • Approximate fund value at maturity at each return rate.
   • Death benefit formula (sum assured + fund value at that time).

If you are building your own online calculator for your website, you can design fields in the same order and keep the layout simple so even first‑time users from small towns or villages can understand it easily.

Important points before buying or continuing Jeevan Plus 173

Because Jeevan Plus 173 is an old ULIP and was withdrawn, there are a few things you should keep in mind:

• Returns are not guaranteed: The fund value depends on how the underlying funds (Growth, Bond, Balanced, etc.) perform.
• Charges reduce returns:
  • Premium allocation charges eat into the first‑few‑year investments.
  • Policy and fund‑management charges are deducted every year.
• Liquidity is limited initially: Some ULIPs restrict partial withdrawals in the first few years to protect the company and ensure long‑term investment.
• No new policies: You cannot buy a fresh Jeevan Plus 173 policy now; only existing policies continue.

If you already have this plan, do not panic about the withdrawal date; LIC still honours all existing policies as per the original terms. You can keep using your own LIC Jeevan Plus Plan 173 calculator or statement‑based tools to track your fund value.

LIC Jeevan Plus Plan 173 vs newer LIC plans

Many people wonder whether they should continue Jeevan Plus 173 or shift to newer LIC plans. Here is a quick comparison of the idea:

• Old ULIPs (like Jeevan Plus 173):
  • Market‑linked returns, higher risk and higher growth potential.
  • Launched before stricter IRDA‑ULIP guidelines, so charges and structure may be different.economictimes.
• Newer LIC plans (after ULIP reform):
  • More transparent charges, standardized structures, and better disclosures.
  • Some are pure endowment or term plans, some are new ULIPs or pension plans.

If you are designing a calculator page, you can add a small section where you compare Jeevan Plus 173 with a newer LIC ULIP or endowment plan (for example, using a simple table) so visitors can see the difference.

Frequently asked questions (FAQ)

Conclusion

LIC Jeevan Plus Plan 173 is an old ULIP that combined life insurance with market‑linked investment and was launched on 18 October 2005. LIC stopped issuing new policies under this plan from 30 June 2006, but existing policies are still active and continue as per their original terms.

The LIC Jeevan Plus Plan 173 calculator is a helpful tool to estimate how much your policy may grow at different return rates and to see whether it fits your long‑term financial goals. It helps you understand the non‑guaranteed nature of returns, the impact of charges, and the balance between insurance cover and investment.