LIC SIIP Plan-852 Life Insurance Corporation of India (LIC) has always been synonymous with trust and reliability in the insurance sector. Among its innovative offerings, the LIC SIIP Plan-852 (Systematic Investment Insurance Plan) stands out as a Unit-Linked Insurance Plan (ULIP) that combines life insurance with investment opportunities. If you’re looking for a plan that provides financial protection for your family while building wealth, LIC SIIP is worth considering.
What is LIC SIIP Plan-852?
The LIC SIIP Plan-852 (Systematic Investment Insurance Plan) is a non-participating, unit-linked life insurance plan. It offers dual benefits of life insurance and market-linked returns. This plan ensures financial security for your loved ones in case of your untimely demise while also helping you achieve your long-term investment goals.
Key Features of LIC SIIP Plan-852
- Life Cover with Investment: Provides life insurance protection along with wealth accumulation through market-linked investments.
- Premium Allocation: A portion of your premium is allocated to units in various funds based on your risk preference.
- Four Fund Options: Choose from Bond Fund, Secured Fund, Balanced Fund, and Growth Fund.
- Flexible Premium Payment: Pay premiums yearly, half-yearly, quarterly, or monthly.
- Partial Withdrawals: After five years, you can withdraw funds partially to meet financial needs.
- Settlement Option: Maturity proceeds can be received in installments over a 5-year period.
- Top-Up Premiums: Enhance your investment anytime with additional top-up premiums.
- Tax Benefits: Premiums paid and payouts are eligible for tax benefits under the prevailing tax laws.
Why Choose LIC SIIP Plan-852?
- Dual Benefits: Combines the security of life insurance with market-linked growth.
- Customizable Investments: Choose funds based on your risk appetite and financial goals.
- Liquidity: Partial withdrawals provide flexibility during financial emergencies.
- Professional Fund Management: Investments managed by experienced LIC fund managers.
- Peace of Mind: Ensures your family’s financial well-being in your absence.
Plan Details
| Feature | Details |
|---|---|
| Minimum Entry Age | 90 days |
| Maximum Entry Age | 65 years |
| Policy Term | 10 to 35 years |
| Minimum Annual Premium | ₹40,000 |
| Premium Payment Modes | Yearly, Half-Yearly, Quarterly, Monthly |
| Fund Options | Bond Fund, Secured Fund, Balanced Fund, Growth Fund |
Benefits of LIC SIIP Plan-852
1. Death Benefit
In case of the policyholder’s demise during the policy term, the nominee receives:
- Higher of the Sum Assured or Fund Value, or
- 105% of the total premiums paid.
2. Maturity Benefit
On surviving the policy term, you receive the fund value based on the NAV of the chosen funds.
3. Partial Withdrawals
After five years, you can withdraw part of your fund value for urgent financial needs.
4. Fund Switching
Flexibility to switch between funds as per market conditions or your changing financial goals.
5. Top-Up Premiums
Enhance your fund value anytime by paying additional premiums.
How to Apply for LIC SIIP Plan-852
- Visit LIC’s Official Website: Navigate to the LIC SIIP Plan-852 section.
- Understand Fund Options: Review the performance and risk levels of the four available funds.
- Calculate Premium: Use LIC’s online premium calculator to estimate your premium and benefits.
- Fill the Application Form: Provide your personal details and investment preferences.
- Submit Documents: Upload required documents like ID proof, age proof, and income proof.
- Pay Premium: Make the payment online and receive your policy details instantly.
FAQs
1. What is LIC SIIP’s main advantage?
LIC SIIP offers dual benefits of life insurance protection and market-linked investment returns.
2. Can I switch between funds during the policy term?
Yes, you can switch funds up to four times in a policy year without additional charges.
3. Is there a lock-in period for LIC SIIP?
Yes, there is a mandatory lock-in period of five years for all ULIPs, during which withdrawals are not allowed.
4. What happens if I stop paying premiums?
If premiums are not paid within the grace period, the policy will lapse, but you can revive it within a specified timeframe.
5. Are returns from LIC SIIP guaranteed?
Since LIC SIIP is market-linked, returns depend on the performance of the chosen funds and are not guaranteed.
Conclusion
The LIC SIIP Plan-852 (Systematic Investment Insurance Plan) is a smart financial product that ensures your family’s financial security while helping you grow wealth through market-linked investments. Whether you are saving for your future or securing your family’s needs, LIC SIIP offers the perfect blend of protection and investment. With customizable options, tax benefits, and the trust of LIC, it’s a plan that deserves your attention. Take the first step toward financial security and growth with LIC SIIP today!
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