LIC SIIP Plan 852

By | March 16, 2020

LIC SIIP ULIP Plan 852 – Benefits, Features, Parameter and Review – Full details with Example

LIC SIIP ULIP Plan 852

LIC SIIP Plan 852

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 852 is the second ULIP scheme launched by LIC in the year 2020. Along with SIIP, LIC has also introduced a single premium ULIP plan, called LIC Nivesh Plus ULIP Plan 849. The scheme is also available in online and offline modes. You can invest in four different fund options as per this plan.

Also Read ThisLIC’s New Single Premium ULIP Plan 849

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.

  1. Basic Sum Assured (less partial withdrawals in the last two years); or
  2. Unit Fund Value; or
  3. 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.

Refund of Mortality Charge

On the life assured surviving the stipulated date of maturity, an amount equal to the total amount of mortality charges deducted in respect of life insurance cover shall be payable along with the maturity benefit.

Mortality charge refund will not be applicable for discontinued or paid up policies and while surrendering a policy.

Guaranteed Additions

Guaranteed additions as a percentage of one annualized premium as mentioned in the table below shall be added to the Unit Fund on completion of specific durations of policy years.

End of Policy Year Guaranteed Additions (as percentage of annualized Premium)
6 5%
10 10%
15 15%
20 20%
25 25%

Investment Fund Types

There are 4 funds available in LIC SIIP Plan 852.

(1) Bond Fund
Investment in Govt Securities / Corporate Debt – 60% to 100%
Short Term investments incl money market instruments – 0% to 40%.
The risk profile is Low Risk.
(2) Secured Fund
Investment in Govt Securities / Corporate Debt – 45% to 85%.
Short Term investments incl money market instruments – 0% to 40%.
Investment in Equity – 15% to 55%.
The risk profile is Lower to Medium Risk.
(3) Balanced Fund
Investment in Govt Securities / Corporate Debt – 30% to 70%
Short Term investments incl money market instruments – 0% to 40%.
Investment in Equity – 30% to 70%
The risk profile is Medium Risk.
(4) Growth Fund
Investment in Govt Securities / Corporate Debt – 20% to 60%
Short Term investments incl money market instruments – 0% to 40%.
Investment in Equity – 40% to 80%
The risk profile is High Risk.

LIC SIIP Plan 852 with an Example

To Illustrate the benefits of LIC SIIP Plan 852, Let’s take an example of a person who is purchasing LIC SIIP Plan 852 with following details.

Single Premium
Basic Premium GST (@ 4.5%) Total Premium

1,00,000

4,500

1,04,500

Age 34 Years
Policy Term 21 Years
Policy Purchase Year 2020

Maturity Details

If policy holder survives the policy term ( i.e. 21 years ), Maturity will be as under.

Maturity Year Maturity Age Maturity Amount(approx)
2041 55 61,85,851
Age Premium NAV Normal Risk Surrender Value
34 100000 10 1000000 0
35 100000 11 1000000 0
36 100000 12.1 1000000 0
37 100000 13.31 1000000 0
38 100000 14.64 1000000 0
39 100000 16.1 1000000 721791
40 100000 17.71 1000000 895970
41 100000 19.48 1082517 1082517
42 100000 21.43 1287880 1287880
43 100000 23.57 1513487 1513487
44 100000 25.93 1772029 1772029
45 100000 28.52 2046027 2046027
46 100000 31.37 2347486 2347486
47 100000 34.51 2679459 2679459
48 100000 37.96 3044327 3044327
49 100000 41.76 3461081 3461081
50 100000 45.94 3904520 3904520
51 100000 50.53 4391632 4391632
52 100000 55.58 4927535 4927535
53 100000 61.14 5517466 5517466
54 100000 67.25 6185851 6185851
Maturity (Fund Value)     = 61,85,851

Read Also :  LIC’s NEW ENDOWMENT PLANS GIVEN BELOW:

LIC New Endowment Plan 914

LIC New Jeevan Anand 915

LIC New Jeevan Lakshya 933

LIC New Jeevan Labh Endowment 936

LIC New Jeevan Umang Plan 945

Premium Allocation Charge

Premium Allocation Charge: This is the percentage of the premium appropriated towards charges from the premium received. The balance known as allocation rate constitutes that part of the premium which is utilized to purchase units for the policy.

Premium Allocation Charges (% of premium)
Year Offline Sale Online sale
First Year 8.00% 3.00%
2nd to 5th Year 5.50% 2.00%
Thereafter 3.00% 1.00%

Fund Management Charges

1.35% p.a. of Unit Fund for all the four Funds available under this Plan. ie Bond Fund, Secured Fund, Balanced Fund and Growth Fund
0.50% p.a. of Unit Fund for “Discontinued Policy Fund

Discontinuance Charges

This charge will be levied by canceling the appropriate number of units out of unit fund value as on the date of discontinuance of the policy.

Year of discontinuation Annualized premium(AP) up to Rs.50,000 Annualized premium (AP) above Rs.50,000
1 Lower of 20% of AP or PV subject to a maximum of Rs.3,000 Lower of 6% of AP or PV subject to a maximum of Rs.6,000
2 Lower of 15% of AP or PV subject to a maximum of Rs.2,000 Lower of 4% of AP or PV subject to a maximum of Rs.5,000
3 Lower of 10% of AP or PV subject to a maximum of Rs.1,500 Lower of 3% of AP or PV subject to a maximum of Rs.4,000
4 Lower of 5% of AP or PV subject to a maximum of Rs.1,000 Lower of 2% of AP or PV subject to a maximum of Rs.2,000
5 and on wards Nil Nil

If you want to download proposal form for LIC’s Nivesh Plus ULIP Plan 849 and LIC SIIP Plan 852, you can download it from the link given below.

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