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Plan No. 852ULIP
LIC's SIIP
"Systematic Investment Insurance Plan."
A Unit Linked, Non-Participating, Individual Life Insurance plan offering regular premium payment.
Key Features
- ✓Regular premium ULIP.
- ✓Guaranteed additions to unit fund.
Eligibility Criteria
Minimum Age90 Days
Maximum Age65 Years
Minimum Term10 to 25 Years
Maximum Term10 to 25 Years
Min Sum Assured7 to 10 times of annualized premium
Max Sum AssuredNo Limit
Plan Benefits
Death Benefit
Higher of Basic Sum Assured or Unit Fund Value.
Survival Benefit
N/A
Maturity Benefit
Unit Fund Value + Refund of Mortality Charges.
Real-World Example
Profile30-Year-Old Male
Sum Assured₹ 10,00,000 (10x Premium)
Term Details20 Years
Annual Premium₹ 1,00,000 / Year
Expected ReturnsMarket Linked (e.g., ₹ 45,00,000 @ 8%)
How it Works
He invests ₹ 1 Lakh a year systematically. LIC deducts mortality charges for the ₹ 10 Lakh life cover, but remarkably, if he survives the 20 years, LIC REFUNDS all mortality charges back into the fund, giving him a massive maturity payout.