LIC Future Plus Plan 172 Calculator
Launch Date: 04 March 2005
Status: Withdrawn
Type: Unit Linked Pension Plan
Calculation Summary
LIC Future Plus Plan 172 is a unit-linked deferred pension plan from LIC, launched on 4 March 2005. This plan is now withdrawn, so if you are looking for a current buying option, you should treat it as an old policy and use it mainly for understanding past benefits, NAV movement, and maturity or surrender value calculations.
Introduction
LIC Future Plus Plan 172 was designed for people who wanted pension-orientated savings with market-linked growth. The plan allowed the policyholder to choose fund options and, in some cases, risk cover, so the final value depended on how the fund performed over time.
Because it is a ULIP-based pension plan, the calculator for this policy is not a simple fixed-return calculator. The estimated amount depends on the premium paid, policy term, fund type, charges, NAV, and whether the policy is surrendered, vested, or continued till maturity.
Launch And Withdrawal Date
LIC’s official plan NAV page shows Future Plus (172) with a launch date of 04/03/2005. The plan appears in LIC’s withdrawn plans list as “LIC’s Future Plus ” with UIN 512L228V01, which confirms that it has been withdrawn.
If you are writing content for SEO or user guidance, it is best to mention the dates clearly like this:
- Launch date: 4 March 2005.
- Withdrawal status: Withdrawn; LIC lists it in the withdrawn plans section.
What The Calculator Does
A LIC Future Plus Plan 172 calculator helps estimate the value of the policy at different stages. It is usually used to understand how much the fund may grow, what surrender value may be available, and what amount may be payable at vesting or death.
In simple words, the calculator helps answer questions like:
- How much premium did I pay in total?
- How much could my fund value become?
- What happens if I surrender early?
- What may be payable at maturity or vesting?
- How do fund choice and NAV affect returns?
How It Works
The plan allocated the invested premium into units of the fund chosen by the policyholder. The value of those units changed with NAV, so the policy value could rise or fall depending on market performance.
The plan also allowed fund options such as Bond Fund, Income Fund, Balanced Fund, and Growth Fund. Each fund had a different exposure pattern, so the calculator needs to consider the selected fund before estimating returns.
Main Inputs For Calculation
If you want to calculate LIC Future Plus Plan 172 properly, these are the main inputs you should use:
| Input | Why it matters |
|---|---|
| Premium amount | Decides how much money goes into the policy. |
| Premium mode | Yearly, half-yearly, or single premium changes the premium flow. |
| Policy term | A longer term may create a different fund value. |
| Fund type | Different funds give different NAV movement and risk. |
| NAV history | The unit value is based on NAV. |
| Charges | Mortality, admin, and other charges reduce the fund value. |
| Entry age | Affects eligibility and policy structure. |
| Vesting age | Important for pension and maturity timing. |
Benefits Under The Plan
LIC Future Plus was built as a pension-linked investment plan. At maturity or vesting, the claim amount could be converted into pension, and the policyholder could also take the commuted value if that option was chosen.
The plan also provided a death benefit and, in some cases, accident or critical illness-related cover depending on the options selected. The exact benefit depended on how the policy was taken and what features were included.
Surrender And Withdrawal Value
One important point for users is surrender value. The LIC Future Plus Plan allowed surrender, but if surrender happened early, deductions could apply, especially before the first two years.
The brochure text also shows that if premiums had been paid for 3 years or more and then stopped, surrender or vesting benefits could become payable as bid value of units in the policyholder’s unit account.
This is why a calculator for this plan should not show only the premium total. It should also estimate:
- Bid value of units.
- Possible surrender value.
- Vesting amount.
- Impact of unpaid premiums and charges.
Simple Calculation Example
Here is a simple way to understand the idea.
Suppose a policyholder paid regular premiums for many years and the chosen fund performed well. The policy value would be the number of units held multiplied by the NAV, then reduced by applicable charges. That final fund value is what the calculator tries to project.
Example format:
- Premium paid each year: Rs. 20,000.
- Policy term: 20 years.
- Fund type: Balanced Fund.
- Expected result: The maturity or vesting value will depend on NAV movement and policy charges, not on a fixed guaranteed rate.
Important Policy Features
LIC Future Plus had some notable features that make it different from a normal savings plan:
- It was a unit-linked deferred pension plan.
- The policyholder could choose the fund type.
- It could be taken with or without risk cover.
- Benefits depended on unit value and NAV.
- It had surrender and vesting-related rules.
Who Should Read This Plan Today
Since the plan is withdrawn, the main audience today is usually the following:
- LIC policyholders who already hold this plan.
- Family members checking old LIC policy documents.
- Insurance bloggers writing on old LIC ULIP plans.
- Agents or advisors comparing withdrawn products with newer pension plans.
Common Mistakes In Calculation
Many people make mistakes while trying to estimate this policy value. The biggest mistake is assuming the policy gives a fixed return. It does not work like that, because the plan is unit-linked and market-based.
Other common mistakes include:
- Ignoring policy charges.
- Using the wrong NAV date.
- Forgetting the effect of surrender timing.
- Treating vested pension value as a normal endowment maturity value.
- Missing the fact that the plan is withdrawn.
Why A Calculator Is Useful
A calculator makes the old policy easier to understand. It saves time, helps with claim planning, and gives a fair idea of how much the policy may be worth today.
It is especially useful when the policyholder wants to know whether to continue, surrender, or simply keep the policy until the vesting date. Since old ULIP plans depend on fund movement, even small changes in NAV can affect the final value.
FAQ
What is LIC Future Plus Plan 172?
It is a unit-linked deferred pension plan (Plan No. 172) launched by LIC in 2005, now withdrawn and no longer available for new sales.
What does the LIC Future Plus 172 calculator do?
The calculator helps estimate policy value by considering premium, term, fund type, charges, and NAV movement instead of giving a fixed return.
Is LIC Future Plus Plan 172 still available for purchase?
No, LIC has withdrawn this plan, so it cannot be taken by new policyholders.
When was LIC Future Plus Plan 172 launched?
The plan was launched on 4 March 2005, as per LIC’s official plan‑NAV records.
Can I surrender a LIC Future Plus Plan 172 policy?
Yes, surrender was allowed under the original terms, but early surrender (especially before 2–3 years) may involve deductions and reduced value.
Conclusion
LIC Future Plus Plan 172 was a unit-linked deferred pension plan launched on 4 March 2005 and later withdrawn by LIC. If you are creating or using a calculator for this plan, the most important things are NAV, fund type, charges, premium pattern, and surrender or vesting rules.
Naresh Kumar is a web developer, digital marketer, and LIC agent dedicated to helping people make smarter financial decisions. He creates easy-to-use tools such as LIC premium, maturity, return, SIP, home loan, and surrender calculators, along with insightful articles on LICCalculator.info to simplify insurance and investment planning.