Life Insurance Corporation of India (LIC) announced the launch of its new product, LIC’s Protection Plus (Plan 886), through a press release dated December 3, 2025. The plan is a Non-Par, Linked, Life, Individual, Savings Plan designed to provide life insurance cover along with savings throughout the policy term.
It offers flexibility for policyholders to choose investment funds, adjust the sum assured, and make top-up premium payments. Partial withdrawals are permitted after 5 years from the commencement of the policy.
Under LIC’s Protection Plus, the proposer can decide the premium amount, based on which the Basic Sum Assured will be determined. Premiums can be paid as Regular Pay or Limited Pay, with options for Premium Paying Terms (PPT) of 5, 7, 10, and 15 years for policy terms of 10, 15, 20, and 25 years.
The minimum age at entry is 18 years, while the maximum age is 65 years. The maximum age at maturity depends on the policy term and can extend up to 90 years for a 25-year term.
The minimum premium varies according to the PPT and payment mode, while there is no upper limit for the maximum premium, subject to underwriting guidelines. The minimum Basic Sum Assured is seven times the annualised premium for individuals below 50 years and 5 times for those aged 50 years and above.
The maximum Basic Sum Assured depends on the age at entry and PPT. Policyholders also have the option to pay additional top-up premiums and adjust the sum assured during the policy term, subject to conditions.
On survival of the life assured at maturity, the amount payable will equal the Unit Fund Value, which includes the Base Premium Fund Value and any Top-up Premium Fund Value. Mortality charges deducted during the policy term will be refunded along with the maturity benefit.
The plan also allows partial withdrawals after 5 years from the commencement date. These features aim to provide flexibility in managing both insurance and savings components under the policy.
Read More: The Life Insurance Corporation of India has introduced 2 New Insurance Plans.
LIC’s Protection Plus (Plan 886) combines life insurance coverage with investment-linked savings options. The plan offers multiple premium payment terms, top-up facilities, and the ability to adjust the sum assured during the policy term.
Maturity benefits include the Unit Fund Value and a refund of mortality charges, enhancing the overall value proposition. The product is available across India and can be accessed through LIC’s authorised channels.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Dec 8, 2025, 1:46 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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