LIC SIIP Plan Calculator

LIC SIIP Plan calculator is an online tool that helps you to calculate the returns you will receive from your LIC SIIP plan. The LIC SIIP calculator is designed to help you understand how your invested amount will grow throughout the policy term. 

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What is the LIC SIIP Plan Calculator?

LIC SIIP plan calculator is an online tool that lets you check the returns on your investments along with the different kinds of charges that are deducted from the premium amount. The calculator offered by the LIC of India offers visibility on the fund value, surrender value, and death benefit amount over the years. The LIC SIIP plan 852 calculator further displays the break-up of various charges that affect your final fund value and returns.

Key Features of the LIC SIIP Plan Calculator

  • Premium Calculation: The calculator allows the policyholder to calculate the premium amount they need to pay based on factors like their chosen policy term, premium payment term, and sum assured.

  • Maturity Benefit: It should provide an estimate of the maturity benefit or the accumulated corpus you can expect at the end of the policy term. This estimate is typically based on the premium amount, policy duration, and expected investment returns.

  • Flexible Inputs: The LIC SIIP Calculator helps in adjusting various input parameters, such as premium frequency (monthly, quarterly, annually), premium amount, policy term, and sum assured, to see how changes in these factors affect the results.

  • Riders and Additional Benefits: If applicable, the calculator may also allow you to include optional riders or additional benefits in your policy to customize your coverage.

How Does the LIC SIIP Plan Calculator Work?

  • You have to choose the mode of premium payment. It can either be monthly, quarterly, half-yearly, or yearly.

  • Based on the payment mode chosen, you have to decide how much you want to pay as a premium throughout the policy term. The minimum premium for each mode is fixed.

  • The LIC SIIP maturity calculator automatically fills in the sum assured based on the annual premium amount chosen by the policyholder in the previous step. 

  • In the final step, you pick the policy term and the type of fund you wish to invest in. 

To use the LIC SIIP Plan Calculator, you should be aware of the following eligibility conditions of LIC SIIP Plan that have to be met.

Benefits of LIC SIIP Calculator

The LIC SIIP Calculator offers several benefits for individuals considering this financial product, such as:

  • Financial Planning Precision:

    The LIC SIIP calculator allows you to plan your investments with precision, helping you determine the right amount to invest regularly based on your financial goals.

  • Customized Solutions:

    By inputting specific details such as investment amount, policy term, and risk preferences, the calculator tailors solutions to meet your unique needs, ensuring a personalized approach.

  • Visualizing Future Returns:

    The LIC SIIP calculator provides a clear estimation of potential returns, helping you visualize how your investments may grow over time. This assists in setting realistic expectations and aligning your financial plans accordingly.

  • Risk Assessment:

    It helps you assess the risk involved in your investment by considering market-linked returns, enabling you to make informed decisions based on your risk tolerance.

  • Policy Customization:

    It assists in customizing your LIC SIIP policy by adjusting parameters such as premium amount, policy term, and sum assured, ensuring that the plan aligns with your financial goals and preferences.

Eligibility Conditions of LIC’s SIIP Plan

Criteria Minimum Maximum
Age at entry 90 days 65 years
Maturity Age 18 years 85 years
Policy Term 10 years 25 years
Premium Paying Term Equal to the policy term
Sum Assured Age less than 55 years - 10 times the annual premium Age 55 years & up - 7 times the annual premium
Minimum Premium Yearly - Rs.40,000 Half-yearly - Rs.22,000 Quarterly - Rs.12,000 Monthly - Rs.4,000 No limit

Sample Benefit Illustration Using LIC SIIP Calculator

For better understanding, below mentioned is the sample illustration of the LIC SIIP plan which is calculated using the LIC SIIP 852 Calculator:

  • Entry Age - 27 years

  • Policy Term - 10 years

  • Premium payment term - 10 years

  • Mode of Premium Payment - Monthly

  • Monthly premium amount - Rs.5,000

  • Annual premium amount - 5000 * 12 - Rs.60,000

  • Sum assured - 10 * 60,000 - Rs.6,00,000

  • Type of Fund - Growth Fund

Calculated returns at 8% per annum - 

Policy Year Sum of all charges Fund Value @ 8% P.A Guaranteed Additions Death Benefit
1 Rs.6,981 Rs.55,298 0 Rs.6,00,000
2 Rs.6,062 Rs.1,15,984 0 Rs.6,00,000
3 Rs.6,975 Rs.1,80,581 0 Rs.6,00,000
4 Rs.7,947 Rs.2,49,340  0 Rs.6,00,000
5 Rs.8,975 Rs.3,22,534 0 Rs.6,00,000
6 Rs.8,314 Rs.4,05,283 Rs.3,000 Rs.6,00,000
7 Rs.9,540 Rs.4,90,382 0 Rs.6,00,000
8 Rs.10,792 Rs.5,80,993 0 Rs.6,00,000
9 Rs.12,160 Rs.6,77,438 0 Rs.6,77,438
10 Rs.13,736 Rs.7,89,542 Rs.6,000 Rs.7,89,542

FAQs

  • What is LIC’s SIIP plan?

    Ans. It is a unit-linked insurance plan by LIC that offers insurance protection along with market-linked returns from investment in the equity market. With this plan, you can keep generating high market returns based on its performance while also ensuring that the family is financially protected after your death.
  • How is the SIP maturity amount calculated?

    Ans. It can be calculated using the LIC SIIP maturity calculator that uses the following factors to give accurate results - 
    • Entry age
    • Choice of fund
    • Premium amount
    • Policy term
    • The assumed rate of return
  • How much is the guaranteed addition amount with LIC’s SIIP plan?

    Ans.
    Policy Year Guaranteed Addition
    End of 6th policy year 5% of the annual premium
    End of 10th policy year 10% of the annual premium
    End of 15th policy year 15% of the annual premium
    End of 20th policy year 20% of the annual premium
    End of 25th policy year 25% of the annual premium
  • What information do I need to use the LIC SIIP calculator?

    Ans: To use the LIC SIIP calculator, you will typically need to input details such as your age, premium payment term, policy term, premium amount, investment strategy (equity or debt), and other relevant information as the calculator requires.
  • Can I purchase LIC SIIP directly through the calculator?

    Ans: No, the LIC SIIP calculator is a tool for estimating returns and does not facilitate the direct purchase of the SIIP plan.
  • Can I modify the inputs in the LIC SIIP calculator?

    Ans: You can change the inputs in the LIC SIIP calculator to see the impact on the estimated returns. It allows you to experiment with different scenarios and make an informed decision based on your preferences and financial goals.
  • What are LIC SIIP Rolling Returns?

    Ans: LIC SIIP rolling returns refer to the historical performance of an LIC SIIP policy assessed over different rolling time periods. These returns help policyholders understand how their SIIP investment has performed under varying market conditions and durations.
  • How is the LIC SIIP Plan different from SIP Plan?

    Ans: LIC SIIP offers a unique blend, providing financial protection alongside the potential for long-term growth. On the other hand, SIP is solely an investment strategy, focusing on investments without incorporating an insurance component.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
++Returns are 10 years returns of Nifty 100 Index benchmark

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