LIC Siip

LIC’S SIIP – 852

Product Summary:

SIIP (852) is a Regular Premium, Unit Linked plan which offers insurance cum investment during the term of the policy. Policy holder can decide the fund in which the amount is invested based on his risk apetite.Basic sum assured will be 10 times annual premium for age at entry less than 55 years. For age from 55 years 7 times annual premium is taken as sum assured.

Premium Payment Mode: Regular Premium(Yearly, Half Yearly, Quartery and monthly mode)

Term: 10 to 25 years

Minimum Age at Entry: 90 days completed

Maximum Age at Entry: 65 years

Maximum Cover Ceasing Age: 85 years for option 1 and 50 years for option 2

Minimum Sum Assured: Yearly – 40,000, Half Yearly – 22,000, Quarterly -12,000, Monthly -.4000

Maximum Sum Assured: No limit (Subject to other conditions)

Riders Available Accident death benefit

Accidental Death and Disability Benefit (ADDB): not available

On Death: Before commencement of risk: amount equal to fund value. After commencement of risk: Higher of Basic sum assured less partial withdrawals( in previous two years) or unit fund value.

On Survival: Unit fund value is paid on policy holder surviving the term of the policy.

Surrender Value: Fund value available at the date of surrender(if surrendered after the lock in period)

Loan: No loan facility available

Income Tax Benefit: Available only for option 2

Proposal Form Special proposal form applicable