LIC SIIP ULIP Plan 852 – LIC SIIP Plan No. 852 (Table no – 852) is a new ULIP scheme launched by LIC on 2 March 2020. SIIP means Systematic Investment Insurance Plan. This scheme is a great scheme for people who invest in share market, SIP and Mutual funds.This scheme also provides insurance cover along with investment. The SIIP is a unit linked, non-participating, individual life insurance plan.
LIC SIIP Plan No 852 – Key Features
- LIC SIIP plan 852 is regular premium policy with monthly, quarterly, half yearly and yearly saving option.
- The insurance coverage will be 7 times if age is above 55 and 10 times if age is below 55.
- You can select from four different fund options bond, secured, balanced and growth.
- Switching is allowed between all four funds 4 times in a year.
- You can partial withdrawal money after 5th years onward.
- This plan provides life risk cover with investment.
- Guaranteed addition offered in addition to unit fund value.
- The facility of surrender is available after the lock-in period of 5 years.
- This plan also provide additional riders such as accidental rider.
LIC SIIP Plan No 852 – Eligibility/Parameter
| Minimum entry age | 90 days |
| Maximum entry age | 65 years |
| Minimum maturity entry age | 18 years |
| Maximum maturity entry age | 85 years |
| Policy term | 10 years to 25 years |
| Minimum Premium | Rs. 40,000 yearly |
| Rs. 22,000 quarterly | |
| Rs. 12,000 half yearly | |
| Rs. 4,000 monthly | |
| Maximum Premium | No Limit |
| Lock in period | 5 years |
| Sum Assured | Below age 55 years: 10 times of annualized premium |
| Above age 55 years: 7 times of annualized premium |
Benefits of LIC SIIP Plan 852
- Benefits payable on death of the Life Assured before the stipulated Date of Maturity under this policy:
On death before the Date of Commencement of Risk: An amount equal to the Unit Fund Value shall be payable.
On death after the Date of Commencement of Risk: An amount equal to the highest of the following shall be payable.
- Basic Sum Assured (less partial withdrawals in the last two years); or
- Unit Fund Value; or
- 105% of the total premiums received (less partial withdrawals in the last two years)
Maturity Benefit
- Benefits payable on maturity: On Life Assured surviving the stipulated Date of Maturity, an amount equal to the Unit Fund Value is payable.
On Life Assured surviving the term of the policy, an amount equal to the Unit Fund value will be payable.
Tags: LIC SIIP ULIP Plan 852