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Market-linked Moderate risk Verified record

LIC's SIIP

Life Insurance Corporation of India · LIC & Life Insurance Policies

A unit-linked savings plan with four fund choices, life cover, and a refund of mortality charges if you survive to maturity.

Premium set by LIC Not published as a number here — it varies by provider, tenure or plan.

Premium depends on age, term and sum assured — use LIC's calculator for your figure

Check the official page

Source LIC — plan brochure

licindia.in/web/guest/unit-linked-plans

Read from LIC's sales brochure "SIIP Sales Brochure.pdf". Use LIC's calculator for a premium at your age.

How it works

LIC's SIIP is a lic & life insurance product from Life Insurance Corporation of India, in the market-linked category: no promised return. A unit-linked savings plan with four fund choices, life cover, and a refund of mortality charges if you survive to maturity.

Because the return type is market-linked, the questions that matter most are: What exactly does this hold, and what would make it fall? Can I leave this money invested if it drops 30%?

  • Market-linked savings with cover
  • Choosing your own fund mix inside a policy

Key facts

Provider
Life Insurance Corporation of India
UIN
512L334V02
Source
LIC — plan brochure ↗ https://licindia.in/web/guest/unit-linked-plans
Rate
Premium set by LIC ↗
Category
LIC & Life Insurance Policies
Minimum investment
— Premium depends on age, term and sum assured — use LIC's calculator for your figure
Tenure
Policy term chosen at purchase
Payout
Fund value at maturity, plus guaranteed additions
Eligibility
Entry ages set out in the brochure; four fund types to choose from.
Getting your money back
No surrender or withdrawal in the first five years; partial withdrawals after that within the rules.
Protection
Life cover only; the fund value is not guaranteed.
Tax
Premiums may qualify for a deduction under Section 80C. Maturity proceeds are exempt only if the policy meets the conditions in Section 10(10D), including the aggregate premium limit — check the current rules for the year you buy.

What can go wrong

  • The fund value can fall with the market.
  • Five-year lock-in with no access.
  • Charges reduce the units you hold.

Before you decide anything

  • The charge structure in the first five years
  • The fund options and their mandates

These are questions to take to the provider, not a checklist that makes a product suitable. Whether something fits your situation is a decision only you — or an adviser you choose — can make.

Official sources

These link to the regulator or provider where the rules for this type of product are set out. They are the pages worth checking before you act, because they are the ones that get updated.

Other products in this category

The same rules and the same kind of trade-offs, described the same way.