LIC Fortune Plus Plan 187 (also known as “Fortune Plus / Profit Plus Plan 187‑188”) is a unit‑linked, non‑participating savings plan that combines life cover with market‑linked investment.

Your premiums are invested in different fund options (like equity, debt, or balanced funds), and the value of your policy grows with the net asset value (NAV) of those units. Because the returns depend on market performance, the final maturity amount is not guaranteed, but you get life cover and the chance to grow your savings over time.

What is Fortune Plus Plan 187?

LIC Fortune Plus Plan 187, UIN 512L244V01, is a ULIP‑style plan that gives you both life insurance and investment in units. Your premiums are invested in different fund options (like equity, debt, or balanced funds), and the value of your policy grows with the net asset value (NAV) of those units.

Because the returns depend on market performance, the final maturity amount is not guaranteed, but you get life cover and the chance to grow your savings over time.

Launch date and withdrawal date

The official LIC “Plan NAV” page lists Fortune Plus (187) with an inception/launch date of August 23, 2007. This means the plan was first offered to customers from 23/08/2007 onwards.

As for withdrawals, the same source structure shows that Profit Plus (188) was withdrawn on September 1, 2010. Although Fortune Plus 187 itself is still on the plan‑NAV list, many agents and policy documents group Fortune Plus 187 and Profit Plus 188 together and consider them older ULIP plans that were later superseded or withdrawn for new sales.

So practically:

• Launch date: 23 August 2007
• Withdrawal/discontinued status for new policies: around September 2010 (for new sales), though existing policies continue as per their terms.

How the Fortune Plus Plan 187 calculator works

A Fortune Plus Plan 187 calculator is an online tool that helps you estimate the following:

• Expected maturity value
• Fund value growth over the policy term
• Impact of partial withdrawals on sum assured

However, because the policy is a unit‑linked plan, the calculator does not work like a fixed‑return endowment plan. Instead, it usually

• Takes your age, policy term, premium amount, and premium‑paying term
• Assumes an expected annual return (say 6–10%) on the fund
• Calculates projected NAV‑based units and approximate maturity value

For example:

• If you pay ₹20,000 first‑year premium for 5 years, the calculator will show:
  • How many units are created each year after charges
  • How the fund value may grow at different assumed rates
  • The approximate maturity value at the end of the policy term

Such calculators are helpful for comparison and planning, but actual returns will differ based on market performance and NAV changes.

Key features of LIC Fortune Plus 187

1. Life cover + investment

Fortune Plus is a unit‑linked insurance plan, meaning the following:

• A part of your premium goes towards life insurance
• The remaining is invested in units of the chosen fund
• The sum assured is fixed at the start and serves as the minimum cover

If you die during the policy term, the higher of the sum assured or fund value is paid (subject to partial-withdrawal rules).

2. Premium-paying term and premium structure

• A limited‑premium‑paying term of 5 years is common for this plan.
• The first‑year premium is usually higher (for example, 50% of the total premium), and subsequent years are 25% each.
• There is a minimum first‑year premium (often around ₹15,000–₹20,000, depending on mode and age).

3. Fund options

Fortune Plus offers multiple fund types, such as:

• Equity‑oriented fund (higher risk, higher growth expectation)
• Debt‑oriented fund (lower risk, stable but lower returns)
• Balanced / mixed fund (mix of equity and debt)

You can choose the fund type while buying the policy and can switch between funds later (subject to switching charges).

4. Charges and deductions

Like all ULIPs, this plan has various charges, including:

• Premium allocation charge (deducted before buying units)
• Mortality charges (for life cover)
• Policy/administration charges
• Fund management charges

Before purchasing, it’s crucial to verify these charges in the policy brochure, as they reduce the initial units and impact long-term growth.

Maturity and benefit options

On maturity

If the life assurance survives until the end of the policy term, the policyholder’s fund value is paid as a maturity benefit. In many similar ULIPs, the fund’s value is:

• Calculated as the value of remaining units on the maturity date
• Expressed as a lump‑sum amount

Because the fund is market‑linked, the exact maturity amount is not guaranteed and depends on the NAV at that time.

On death

If the life assured dies during the policy term, the benefit is

• The higher of the sum assured or fund value, subject to any partial withdrawals.
• If an accident benefit rider is chosen, an additional accident sum assured is paid on accidental death.

This dual structure ensures that the family receives at least the sum assured even if the fund value falls below it.

Surrender and lapse

• Surrender value is payable only after three policy years.
• If premiums are not paid, the policy may lapse or continue by cancelling units to pay charges for a limited revival period.
• If the fund value reduces to about ₹5,000, the policy may be terminated compulsorily.

Partial withdrawals and loans

Partial withdrawals

Fortune Plus allows partial encashment of units after the third policy anniversary, subject to:

• A minimum balance of about ₹10,000 in the policyholder’s fund value
• In case of minors, withdrawals allowed only after the life assured turns 18
• For 2 years after withdrawal, the sum assured is reduced by the withdrawal amount

This feature is useful if you need liquidity without closing the policy, but it reduces your insurance cover temporarily.

Loans

Unlike many traditional LIC plans, Fortune Plus 187 does not allow loans. If you need money, the options are:

• Partial withdrawal (after 3 years)
• Surrender the policy (after 3 years)
• Or manage through other savings / credit options

Simple comparison with a fixed‑return plan

Feature	Fortune Plus 187 (ULIP)	Traditional endowment plan
Return nature	Market‑linked, not guaranteed	Non‑market, often guaranteed or with bonuses
Risk level	Higher (depends on fund choice)	Lower, more stable
Premium payment term	Usually 5 years	5–20 years (varies by plan)
Surrender penalty	Strict, no surrender before 3 years	Also penalized, but structure varies
Portability	Can switch funds during policy term	Usually no fund‑switching option

If you understand market risk and want growth potential, Fortune Plus 187 can be attractive; if you want predictable returns, a traditional plan may feel safer.

How to use a Fortune Plus 187 calculator (step‑by‑step)

If you design or use a LIC Fortune Plus Plan 187 calculator, the basic steps should be the following:

1. Inputs

Ask the user for:

• Age of life assured
• Policy term (for example, 10, 15, or 20 years)
• Premium-paying term (usually 5 years)
• First‑year premium and subsequent‑year premium
• Fund type / expected return (e.g., equity: 9–12%, debt: 6–8%, balanced: 7–10%)

2. Internal calculations

For each year:

• Deduct charges (allocation, mortality, admin) from the premium
• Buy units at the current NAV
• Recalculate the fund value at the end of the year using the assumed growth rate

At the end of the term:

• Multiply the final units with the projected NAV to get approximate maturity value

3. Output display

Show:

• Year‑wise fund value
• Total premiums paid
• Approximate maturity value
• Growth percentage compared to total premiums

Because the product is a ULIP, the calculator should clearly mention that the result is only an estimate and actual returns depend on future NAVs and charges.

Common mistakes while using Fortune Plus 187

Many people misunderstand this plan and end up disappointed. Here are some common mistakes:

• Treating it like a fixed‑return plan and expecting guaranteed returns every year
• Ignoring charges and not realizing how much units are reduced in the first few years
• Doing frequent partial withdrawals, which reduce the sum assured and disrupt long‑term growth
• Not choosing the right fund type based on risk appetite (e.g., putting low‑risk money in aggressive equity funds)

To avoid this:

• Read the policy brochure and NAV history
• Use the calculator with realistic assumptions
• Keep the policy for long term to let the units grow

Who should consider Fortune Plus 187?

This plan is suitable for people who:

• Want both life insurance and investment
• Can accept market risk for higher growth
• Are planning for long‑term goals like children’s education, marriage, or retirement
• Understand that returns are not guaranteed and can go up or down

It may not be suitable for:

• Very risk‑averse investors who want predictable returns
• People needing regular income (no guaranteed income payouts in this ULIP)
• Those who might withdraw early repeatedly

Frequently Asked Questions (FAQ)

Final thoughts (Conclusion)

LIC Fortune Plus Plan 187 is a unit‑linked, life‑cum‑investment plan that offers growth potential along with life cover. It was launched on 23 August 2007 and, together with Profit Plus 188, is now generally treated as an older ULIP category that has been withdrawn for new sales around 01 September 2010, though existing policies still run as per their original terms.