LIC SIIP Plan 752
ULIP Investment & Insurance Plan Calculator
LIC SIIP Plan 752 Overview
LIC SIIP (Systematic Investment Insurance Plan 752) is a Unit Linked, Non-Participating, Regular Premium Life Insurance plan. It offers a combination of protection and investment in the capital market.
Eligibility & Rules
- Minimum Annual Premium: ₹40,000
- Maximum Premium: No Limit
- Policy Term: 10 to 25 Years
- Premium Paying Term: Same as Policy Term
- Entry Age: 90 Days to 65 Years
Key Plan Benefits
- Death Benefit: Higher of Basic Sum Assured or Unit Fund Value.
- Maturity Benefit: Unit Fund Value.
- Mortality Charge Refund: An amount equal to the total mortality charges deducted is added to the fund on maturity.
Detailed Maturity Benefit
Unit Fund Value as on the date of maturity based on prevailing NAV. Plus refund of mortality charges (if applicable).
Standard Policy Features
- Grace Period: 30 days for Yearly, Half-Yearly, and Quarterly premium payment modes, and 15 days for Monthly mode.
- Free Look Period: 30 days from the date of receipt of the policy document to review the terms and conditions.
- Loan & Surrender Facility: No Loan facility is available. Policy has a 5-year lock-in period, after which it can be surrendered.
- Tax Benefits: Premiums paid are eligible under Section 80C, and returns are tax-free under 10(10D) (if annual premium < ₹2.5 Lakh).
Example Calculation
| Parameter | Value |
|---|---|
| Sum Assured | ₹5,00,000 (10x Premium) |
| Age / Policy Term | 30 / 15 Years |
| Yearly Premium (Approx) | ₹50,000 |
| Total Paid Premium | ₹7,50,000 |
| Maturity / Total Benefits | ₹Based on NAV + Refund of Mortality Charges |
Calculating…