LIC SIIP Plan Calculator

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

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 - 

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