LIC's Systematic Investment Insurance Plan (SIIP) - Plan No.: 852
SIIP (Systematic Investment Insurance Plan) is a non-participating, unit-linked insurance plan offered by LIC, designed to provide financial protection along with long-term wealth creation. This plan allows policyholders to systematically invest while enjoying the benefits of life cover. SIIP offers flexible premium payment options, and the funds invested grow according to market conditions. In case of policyholder's death during the policy term, the plan ensures financial security for their loved ones with a lump sum payout. At maturity, the accumulated fund value is provided to the policyholder, aiding in wealth accumulation over time.
Investment and Protection
SIIP allows policyholders to invest a portion of their premiums in various funds to build a corpus while also providing life insurance protection. This plan ensures that policyholders can enjoy wealth accumulation with the peace of mind that their family's future is secure.
Flexible Premium Payments
The SIIP plan offers flexibility in premium payments, allowing policyholders to choose between single, annual, half-yearly, or quarterly modes of payment. This flexibility ensures that the plan can cater to varying financial situations.
Maturity and Death Benefits
Upon maturity, the policyholder receives the total value of the accumulated units along with any bonuses. In case of the unfortunate death of the policyholder, their family receives the death benefit, which includes the sum assured and loyalty additions, ensuring financial security
Partial Withdrawals
Policyholders can make partial withdrawals after the lock-in period, offering them the liquidity to meet unforeseen financial requirements while keeping the policy in force.
Customer Service and Online Support
LIC offers 24x7 support for SIIP policyholders, who can access information, make premium payments, and view their policy details online. With dedicated customer zones and call centers, LIC ensures smooth service for all policyholders.