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LIC Withdrawn Plans

LIC, the state-owned insurance company and a forerunner in the life insurance segment of the country was established in the year 1956. Since launch, the company's sales figures have crossed 20 lakh crores in terms of the number of policies sold.

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But over IRDA diktat and to comply with other regulatory amendments from time to time, LIC has withdrawn some its product offerings. Here's a listing of the insurance plans discontinued by the Life Insurance Corporation of India.

LIC Profit Plus Plan:

Profit Plus is a unit linked endowment plan offered by LIC, which comes with flexible options for premium payments. At the time of application, one could choose the premium payment term which is either a single lump sum payment or is paid at fixed intervals over a period of three, four, or five years.

Features of LIC Profit Plus:

Minimum entry age	No minimum age
Maximum entry age	65 years
Minimum age at maturity	18 years
Maximum age at maturity	75 years
Policy term	For premium paying term of 3 years, the policy term would be 10 years to 20 years For premium paying term of 4 years, the policy term would be 10 years to 20 years For premium paying term of 5 years, the policy term would be either 10 years or 15 years to 20 years For single premium payment, the policy term would be 10 years to 20 years
Partial withdrawal	Allowed only after the completion of 3rd year
Sum Assured	For regular premium, the sum assured is 5 times the annualized premium For single premium, the minimum sum assured is 1.25 times the total premium amount whereas the maximum sum assured is up to 5 times of the total premium, depending on the age of the insured.
Loan	No loan facility is available for LIC Profit Plus

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LIC Jeevan Nischay:

LIC Jeevan Nischay is a single premium plan which is available only for existing LIC members. The chief highlight of this policy is that the longer your tenure the higher the returns. Policyholders can choose the premium payment term which is one of the key components in calculating the sum assured. Besides premium payment term, age and the premium amount also play a part in determining the basic sum assured.

Features of LIC Jeevan Nischay:

Maximum entry age	50 years
Policy term	5,7 and 10 years
Minimum single premium amount	Rs.10,000
Maximum single premium amount	Rs.10,00,000
Loan	Loan facility is available after completion of 1 policy year

LIC Wealth Plus:

It's a unit linked investment plan which remains stable even in times of market fluctuations. The plan pays off the Fund Value on maturity, which is calculated based on the highest Net Asset Value (NAV) for the first 7 years or the NAV applicable at the term end. The term period of LIC Wealth Plus is 8 years and it offers and extended life cover for two additional years after end of the policy term.

Features of LIC Wealth Plus:

Minimum entry age	10 years
Maximum entry age	65 years
Policy term	8 years
Add-ons	Extended life cover of 2 years after term completion
Minimum Premium	Rs.20,000 per annum
Minimum Sum Assured (for 3 years premium payment term)	5 times the premiums paid per annum
Minimum Sum Assured ( for single premium payment term)	1.25 times the single premium amount
Maximum Sum Assured (for 3 years premium payment term)	For entry age up to 50 years, it's 10 times the annualized premium For entry age above 50 years, it's 5 times the annualized premium
Maximum Sum Assured ( for single premium payment term)	For entry age up to 40 years it's 5 times the single premium For entry age between 41 to 50 years it's 2.5 times the single premium, and For entry age above 51 years it's 1.25 times the single premium
Loan	Loan facility is not available under this plan

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LIC Jeevan Aastha:

Jeevan Aastha is a single premium insurance product by LIC which guarantees death benefits and an assured sum on maturity. It is a close ended plan which was available for a maximum period of 45 days from the date of launch.

Features of LIC Jeevan Aastha:

Minimum entry age	13 years
Maximum entry age	60 years
Minimum basic sum assured	Rs.1,50,000
Maximum basic sum assured	No specified limit
Policy term	5 years and 10 years
Payment mode for premiums	Single premium
Loan	Loan facility is available under LIC Jeevan Aastha on completion of one year

LIC Money Plus-I:

Money Plus is an investment plus insurance plan that comes with a multitude of benefits for the insured. Here the members have an option to select the level of insurance cover, which again will be based on the premium amount chosen by them. Policyholders can pay premiums monthly, quarterly, half-yearly, or yearly.

Features of LIC Money Plus-I:

Minimum entry age	No minimum age
Maximum entry age	65 years
Minimum age at maturity	18 years
Maximum age at maturity	75 years
Policy term	10 years, 15 years, and 30 years
Minimum premium amount	For policy term of 20 years to 30 years, it's Rs.5,000 per annum For policy term of 15 years to 19 years, it's Rs.10,000 per annum For policy term of 10 years, it's Rs.15,000 per annum For policy term of 15 years to 30 years it's Rs.1,000 per month For policy term of 10 years it's Rs.1,500 per month
Minimum sum assured	Minimum sum assured is 5 times the annualized premium
Maximum sum assured	If the age at entry is up to 45 years, then the maximum sum assured is 30 times of annualized premium If the age at entry is between 46 years to 60 years, then the maximum sum assured is 30 times of annualized premium If the age at entry is 61 years or above, then the maximum sum assured is 10 times of annualized premium
Loan	Loan facility is not available under the plan

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LIC Jeevan Varsha:

LIC Jeevan Varsha is a money back plan that provides assured benefits at specific durations after completion of the premium payment term. Guaranteed additions are paid on both death and maturity of the plan and the same rule is applicable even for loyalty additions. Premiums can be paid monthly, quarterly, half-yearly, and yearly. However, the monthly payments can be made only through ECS mode.

Features of LIC Jeevan Varsha:

Minimum entry age	No minimum age
Maximum entry age	65 years
Minimum age at maturity	18 years
Maximum age at maturity	75 years
Policy term	10 years, 15 years, and 30 years

LIC Child Fortune Plus:

It's a unit linked insurance plan that helps you meet the educational requirements of your child. Parents can insure themselves under this plan in the single premium mode if the child is up to 17 years of age and regular premium mode if the child is up to 10 years. The policy will be active till the child attains 25 years or till the parent attains 75 years.

Features of LIC Child Fortune Plus:

Minimum entry age	18 years
Maximum entry age	55 years
Minimum entry age for child	No minimum age
Maximum entry age for child	10 years (for regular premium) 17 years (for single premium)
Maximum maturity age	When the child attains 25 years or the parent attains 75 years of age, whichever comes first
Loan	Loan facility is not available under this plan

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LIC Fortune Plus:

It's a unit linked assurance plan offered by LIC in which the premium payments during first five years itself will cover 50% of the total premium amount. Here, the level of cover is determined by the premium decided to pay by the insured. Premiums can be paid on a yearly, half-yearly, quarterly, or monthly basis.

Features of LIC Fortune Plus:

Minimum entry age	12 years
Maximum entry age	60 years
Minimum age at maturity	18 years
Maximum age at maturity	65 years
Minimum term of the policy	5 years
Maximum term of the policy	20 years
Minimum premium amount	Rs.20,000 towards first premium payment
Sum assured	Higher than 5 times the annualized premium or first year's annualized premium multiplied by half the number of premium payments

LIC Jeevan Saathi Plus:

LIC Jeevan Saathi Plus is a life insurance plan for couples in which one of the members insured will be Principal Life Assured (PLA) and his/her spouse will be the Spouse Life Assured (SLA). The premium payments in Jeevan Saathi Plus can either be paid as a lump sum or at regular intervals.

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Features of LIC Jeevan Saathi Plus:

Minimum entry age	18 years
Maximum entry age	55 years
Maximum age at maturity	70 years
Policy term	Policy term for single premium is 10 to 20 years Policy term for regular premium is 10, 15 or 20 years
Minimum Premium	Regular premium payments (other than monthly mode) For a policy term of 15 to 20 years, it's Rs.10,000 per annum For a policy term of 10 years, it's Rs.15,000 per annum Regular premium payments (monthly mode) For a policy term of 15 to 20 years, it's Rs.1,000 per month For a policy term of 10 years, it's Rs.1,500 per month For single premium payments, it's Rs.40,000
Minimum sum assured	For regular premiums, it's 5 times the annualized premium For single premiums, it's 1.25 times the single premium
Loan	The policy does not provide loan facility

LIC Health Plus:

LIC Health plus is a unit linked plan that covers the insured and his family. Hospital Cash Benefit (HCB) and Major Surgical Benefit (MSB) are the two main benefits that LIC Health Plus offers its members.

Features of LIC Health Plus:

Minimum entry age	18 years for the principal insured and spouse, and 3 months for child
Maximum age for HCB cover	18 years for the principal insured and spouse, and 3 months for child
Maximum age for MSB cover	18 years for the principal insured and spouse, and 3 months for child
	Policy term for single premium is 10 to 20 years Policy term for regular premium is 10, 15, or 20 years
Sum assured	200 times the Hospital Cash Benefit
Loan	No loans are available under the policy

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LIC Samridhi Plus:

LIC Samridhi Plus is again a unit linked plan that offers protection from market fluctuations. At the end of the policy term, the policyholder will receive a Fund Value which is calculated based on the first 100 months of the policy. The plan was made available only after 3 months from its launch date.

Features of LIC Samridhi Plus:

Minimum entry age	8 years
Maximum entry age	65 years
Policy term	10 years
Minimum premium amount	5 years
Installments	Yearly, half-yearly, quarterly, and monthly
Minimum Sum Assured	Policies with 5 years premium payment term 10 times the annualized premium, if the insured is below 45 years at the time of entry 7 times the annualized premium if the insured is above 45 years at the time of entry Policies with single premium payment term 1.25 times the single premium, if the insured is below 45 years at the time of entry 1.10 times the single premium, if the insured is above 45 years at the time of entry
Maximum Sum Assured	Policies with 5 years premium payment term 20 times the annualized premium, if the insured is below 45 years at the time of entry 10 times the annualized premium, if the insured is above 45 years at the time of entry Policies with single premium payment term • 5 times the single premium, if the insured is up to 55 years at the time of entry • 1.25 times the single premium, if the insured is between 56 years to 65 years at the time of entry
Loan	Loan facility is not available under the plan

LIC Pension Plus:

Pension plus is a unit linked retirement solution offered by LIC which provides a minimum guarantee on the premiums paid. It offers two types of investment funds out of which the policyholder can choose one to invest in.

Features of LIC Pension Plus:

Minimum entry age	18 years
Maximum entry age	75 years
Minimum age for receiving pension	40 years
Maximum age for receiving pension	85 years
Sum assured	Nil
Loan	Loan facility is not available under this plan

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LIC Jeevan Nidhi:

Jeevan Nidhi is a retirement plan which offers pensions at regular intervals after completion of the policy term. Policyholders are also eligible for risk covers during the pay off period. The premiums paid under Jeevan Nidhi are non-taxable under Section 80CC of the Income Tax Act.

Features of LIC Jeevan Nidhi:

Minimum entry age	18 years
Maximum entry age	65 years
Policy term	For regular premium, the policy term is 5 years For single premium, the policy term is 6 years
Minimum age for receiving pension	40 years
Maximum age for receiving pension	75 years
Minimum Premium amount	For regular premium it's Rs.3000 For single premium it's Rs.10,000
Payment modes	Monthly, quarterly, half-yearly, and yearly
Sum assured	Nil
Loan	Loan facility is not available under this plan

LIC Jeevan Amrit:

LIC Jeevan Amrit is a policy with limited premium payments and extended benefits. After paying premium for 5 years, the policy cover continues till the term end period of the plan. It is to be noted that the premiums for first year will be considerably higher than the subsequent payments.

Features of LIC Jeevan Amrit:

Minimum entry age	12 years
Maximum entry age	60 years
Minimum sum assured	Rs.1,00,000
Maximum sum assured	No limit
Minimum policy term	10 years
Maximum policy term	30 years
Payment modes	Yearly and half-yearly
Premium payment term	5 years and 3 years
Loan	Loan facility is available with interests at the rate of 9% per annum

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LIC Jeevan Surabhi:

Jeevan Surabhi is a plan that is similar to traditional money back plans offered by LIC, but with a difference that the maturity term is higher than premium paying term. Also, the survival benefits offered under the plan are higher when compared to other money back plans.

Features of LIC Jeevan Surabhi:

Minimum entry age	14 years
Maximum entry age for Plan. 106	55 years
Maximum entry age for Plan. 107	50 years
Maximum entry age for Plan. 108	45 years
Policy term for Plan No. 106	15 years
Premium paying term for Plan No. 106	12 years
Policy term for Plan No. 107	20 years
Premium paying term for Plan No. 107	15 years
Policy term for Plan No. 108	25 years
Premium paying term for Plan No. 108	18 years
Minimum sum assured	Rs.50,000
Maximum sum assured	No limit
Maximum age at maturity	70 years
Loan	Loan facility is provided under the plan

LIC Jeevan Chhaya:

Jeevan Chhaya is an endowment assurance policy plan which offers complete financial protection in case a policyholder passes away anytime during the term period. The sum assured is offered in phases, with one-fourth of the amount being payable at the end of each year for four years, towards the end of the policy term.

Features of LIC Jeevan Chhaya:

Minimum entry age	18 years
Maximum entry age	47 years
Minimum sum assured	Rs.50,000
Maximum sum assured	No limit
Premium payment term	It equals policy term
Minimum policy term years	18 years
Maximum policy term years	25 years
Payment modes	Monthly, quarterly, half-yearly, and yearly
Maximum age at maturity	65 years

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LIC Jeevan Sugam:

Jeevan Sugam plan is a non-participating plan that comes with a risk cover which is in multiples of the premiums paid. On attainment of maturity, the 'sum assured' chosen by the policyholder at the time of entry will be paid in full.

Features of LIC Jeevan Sugam:

Minimum entry age	8 years
Maximum entry age	45 years
Sum assured	10 times the single premium amount
Minimum sum assured	Rs.60,000
Maximum sum assured	No limit on maximum sum assured
Policy Term	10 years
Payment modes	Single premium

LIC Jeevan Dhara-I:

LIC Jeevan Dhara is a non-unit linked pension plan with deferred annuity which ensures regular cash flow after retirement. The premiums paid in Jeevan Dhara-I are exempted from tax under Section 88 of the Income Tax Act.

Features of LIC Jeevan Dhara-I:

Minimum entry age	18 years
Maximum entry age	70 years
Minimum period of deferment	2 years
Maximum period of deferment	35 years
Minimum age at vesting	50 years
Maximum age at vesting	79 years
Payment modes	Single premium, monthly, quarterly, half-yearly, and yearly
Notional cash	Minimum: Rs.50,000 for regular premium Maximum: No limit

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LIC Flexi Plus:

LIC Flexi Plus is a unit linked insurance plan where tenure of premium payments is same as the policy period. The premium amounts are invested in debt funds or mixed funds depending on the policyholder's choice. In case of death of the policyholder, all pending premium payments are waived off and the maximum assured sum is provided to the nominee.

Features of LIC Flexi Plus:

Minimum entry age	18 years
Maximum entry age	50 years
Age at maturity	60 years
Minimum annualized premium	Rs.15,000
Maximum annualized premium	Rs.1,00,000
Payment mode	Monthly, quarterly, half-yearly, and yearly

LIC Jeevan Arogya:

LIC Jeevan Arogya is a health plan which offers financial cover at the time of medical emergencies. The plan allows the principal insured to allow his/her spouse, children, parents, and parents of spouse to be covered under the same plan.

Features of LIC Jeevan Arogya:

Entry age for principal insured and spouse	Minimum: 18 years Maximum: 65 years
Entry age for children	Minimum: 91 days Maximum: 17 years
Parents/ parents of spouse	Minimum: 18 years Maximum: 75 years
Minimum surgical benefits	Rs.1,00,000
Maximum surgical benefits	Rs.4,00,000
Payment modes	Monthly, quarterly, half-yearly, and yearly

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LIC Bima Account 1:

LIC Bima is a simple non-linked insurance plan that offers a guaranteed minimum return on investments plus risk cover. On completion of premium payments, the account will accrue interests at the rate of 6% per annum throughout the policy term.

Features of LIC Bima Account 1:

Minimum entry age	11 years
Maximum entry age	50 years
Minimum age at maturity	18 years
Maximum age at maturity	57 years
Policy term	Minimum 5 years and maximum 7 years
Premium term	Same as policy payment term
Minimum sum assured	10 times the annualized premium amount

LIC Jeevan Pramukh:

LIC Jeevan Pramukh is a protection plan that suits the requirements of individuals who fall in the high income category. In this plan the life insurance cover continues even after completion of the premium payment term. It also comes with additional benefits and reversionary bonus.

Features of LIC Jeevan Pramukh:

Minimum entry age	18 years
Maximum entry age	65 years
Maximum age at maturity	75 years
Minimum premium payment term	3 years, 4 years
Maximum premium payment term	5 years
Payment mode	Monthly, quarterly, half-yearly, and yearly

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LIC Jeevan Vridhi:

LIC Jeevan Vridhi is a single premium plan that offers a guaranteed sum assured which is 5 times the basic premium paid by the insured. It comes with a fixed policy term of 10 years but allows the individual to surrender his/her policy.

Features of LIC Jeevan Vridhi:

Minimum entry age	8 years
Maximum entry age	50 years
Maximum age at maturity	60 years
Premium payment term	Single premium
Payment mode	Single
Policy term	10 years

LIC Jeevan Anurag:

Jeevan Anurag was launched by LIC to provide financial support for the education of children. Parents can opt for the plan which provides assured benefits at specified intervals, irrespective of whether the policyholder survives till the end of term or not.

Features of LIC Jeevan Anurag:

Minimum entry age	20 years
Maximum entry age	60 years
Maximum age at maturity	70 years
Minimum policy term	For single premium it's 5 years For regular premium it's 10 years
Maximum policy term	25 years
Payment mode	Single, monthly, quarterly, half-yearly, and yearly
Policy term	10 years

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LIC Komal Jeevan:

LIC Komal Jeevan is a money back plan designed for children and can be purchased by parents or grandparents. The plan offers death benefits and survival benefits, the latter being paid at predefined intervals.

Features of LIC Komal Jeevan:

Minimum entry age of child	No minimum age
Maximum entry age of child	10 years
Maximum age at maturity	26 years
Premium payment term	Minimum: 8 years Maximum: 18 years
Payment modes	Single, monthly, quarterly, half-yearly, and yearly
Minimum sum assured	Rs.1,00,000
Maximum sum assured	Rs.25,00,000

LIC Jeevan Deep:

Jeevan Deep is a simple insurance plan that was launched targeting the low income groups. Here the policyholders can pay premiums either as a lump sum or at regular intervals. The minimum sum assured in Jeevan Deep is Rs.5,000.

Features of LIC Jeevan Deep:

Minimum entry age	18 years
Maximum entry age	10 years
Maximum age at maturity	65 years
Premium payment mode	Single, monthly, quarterly, half-yearly, or yearly
Minimum sum assured	Rs.5,000
Maximum sum assured	Rs.3,00,000
Policy term	5 to 15 years

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LIC Jeevan Aadhaar:

Jeevan Aadhar is a plan designed for handicapped dependents of the person insured. According to the policy terms, the person insured will pay premiums for maximum period of 35 years but the handicapped dependents will receive life cover till death.

Features of LIC Jeevan Aadhaar:

Minimum entry age	22 years
Maximum entry age	65 years
Maximum age at maturity	75 years
Premium payment mode	Single, monthly, quarterly, half-yearly, or yearly
Minimum sum assured	Rs.50,000
Maximum sum assured	No limit
Policy term	Throughout the life of the handicapped dependent
Minimum premium payment term	1 year
Maximum premium payment term	35 years

LIC Bima Bachat:

Bima Bachat, as the name suggests is a savings and financial security plan which requires only one single premium to be paid. It offers interests at the rate of 9% per annum and the sum assured will be in multiples of Rs.5,000.

Features of LIC Bima Bachat:

Minimum entry age	15 years
Maximum entry age	66 years
Maximum age at maturity	75 years
Premium payment mode	Monthly, quarterly, half-yearly, or yearly
Minimum sum assured	Rs.20,000
Maximum sum assured	No limit
Policy term	9 years, 12 years, and 15 years
Premium payment term	Single

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LIC Endowment Plus:

It's an investment plus insurance option where the level of cover will be determined by the chosen mode of payment and the amount of premium. Policyholders have an option to invest in any one out of the four types of investment funds available with LIC.

Features of LIC Endowment Plus:

Minimum entry age	7 years
Maximum entry age	60 years
Maximum age at maturity	70 years
Premium payment mode	Single, monthly, quarterly, half-yearly, or yearly
Minimum sum assured for regular premium	(Policy term + 1) times annualized premium
Maximum sum assured for regular premium	30 times annualized premium
Minimum sum assured for single premium	1.25 times the single premium amount
Maximum sum assured for single premium	5 times the single premium amount
Policy term	9 years, 12 years, and 15 years
Premium payment term	Single

LIC Bima Nivesh 2005:

It's a single premium non-participating plan which offers guaranteed additions and loyalty benefits. It's suited for people with a periodic income. The policy is available for a term period of 5 years and 10 years.

Features of LIC Bima Nivesh 2005:

Minimum entry age	13 years
Maximum entry age	70 years
Maximum age at maturity	75 years
Premium payment mode	Single
Minimum sum assured	Rs.25,000
Maximum sum assured	No limit on maximum sum assured
Policy term	5 years and 10 years
Premium payment term	Single

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LIC Jeevan Shree-I:

This is an endowment plan that comes with an option of convenient premium payments. Like traditional insurance plans, Jeevan Shree-I offers financial protection throughout the term plan and guarantees survival benefits at the end of the term.

Features of LIC Jeevan Shree-I:

Minimum entry age	18 years
Maximum entry age	65 years
Maximum age at maturity	75 years
Premium payment mode	Single, monthly, quarterly, half-yearly, and yearly
Minimum sum assured	Rs.5,00,000
Maximum sum assured	No limit on maximum sum assured
Policy term	5 years and 25 years
Minimum premium payment term	1 year
Maximum premium payment term	16 years

Other withdrawn plans by LIC:

LIC Jeevan Vaibhav (Single Premium Endowment Assurance Plan)
Two Year Temporary Assurance Policy
LIC Mortgage Redemption
CDA Endowment Vesting At 21
CDA Endowment Vesting At 18
The Whole Life Policy- Limited Payment
Health Protection Plus
The Whole Life Policy
Bima Account 2
Jeevan Mitra(Double Cover Endowment Plan)
Anmol Jeevan-I
New Jeevan Nidhi
Varishtha Pension Bima Yojana
Market Plus I
Jeevan Bharati-I
Jeevan Surabhi-20 Years
The Money Back Policy-25 Years
Jeevan Mitra (Triple Cover Endowment Plan)
Jeevan Surabhi-15 Years
The Whole Life Policy- Single Premium
Jeevan Anurag
Child Career Plan
Child Future Plan
Jeevan Kishore
Marriage Endowment
Educational Annuity Plan
Jeevan Ankur
The Endowment Assurance Policy - Limited Payment
New Janaraksha Plan
The Money Back Policy - 20 Years
Jeevan Tarang
The Endowment Assurance Policy
Jeevan Anand
Jeevan Vishwas
New Bima Gold
Jeevan Saral
Jeevan Mangal
Jeevan Madhur
Amulya Jeevan-I
LIC's Jeevan Shagun
LIC's Jeevan Shikhar

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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