A Review of LIC SIIP 

“I bought a LIC policy from Policybazaar in November 2022. The services provided by the executives and staff members of Policybazaar are commendable. Happy to be their customer.” By Mamta.

Benefits of LIC Plans
Buy LIC policy online hassle free
Tax saving under Sec 80C & 10(10D)^
High returns market link plans
Sovereign guarantee as per Sec 37 of LIC Act
LIC life insurance
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold
Now Available on Policybazaar
Grow your wealth with LIC
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

Our customer Ms. Mamta recently bought a LIC SIIP plan from PolicyBazaar. She was looking for a comprehensive solution that would provide protection to the family after her unfortunate demise, and will also look after her future financial requirements. 

LIC SIIP is a unit-linked plan that offers investment cum insurance benefits to the policyholder throughout the policy term. The plan comes with a pocket-full of benefits.

Let us take a look at the benefits and features of LIC SIIP plan that convinced Ms. Mamta for choosing this plan:

Key Features of LIC SIIP Plan:

Below mentioned are some of the salient features of the policy :

    • Tax Benefits

      Tax benefits can be availed U/S 80C and 10(10D) of the Income Tax Act.

    • Customization Available

      The plan offers 4 fund options to choose from which means that she can easily customize her plan as per her requirements. The available fund options are: (i) Bond Fund, (ii) Secured Fund, (iii) Balanced Fund & (iv) Growth Fund.

    • Unlimited Switching of Funds

      Under this feature, she has the option to make four free switches between funds. 

      **After 4 free switches, every switch will incur a Switching Charge of Rs. 100.

    • Partial withdrawals 

      In order to meet the unannounced financial emergency, she can partially withdraw her funds from the 5th year onwards, provided all due premiums are paid on time.

      The maximum sum of partial withdrawal during each policy year can be as follows:

Policy Year %of Unit Fund
6th to 10th 20%
11th to 15th 25%
16th to 20th 30%
21st to 25th 35%

What are the Benefits of LIC SIIP Plan?

  1. Death Benefit

    In case she dies during the policy term of LIC Policy, the highest of the following death benefit will be paid to the nominee:

    • 105% of the total premium paid till the date of death reduced by partial withdrawals if any; or

    • Unit fund value; or

    • The basic sum assured amount on death is reduced by partial withdrawal if any.

  2. Maturity Benefits

    In case she survives till the end of the policy term, the unit fund value along with the refund of mortality charges will be paid to her which can be further utilized for her future goals..

  3. Refund of Mortality Charges

    If she survives till the maturity date, then an amount equal to the total amount of mortality charges which was deducted for the life insurance cover will be paid along with the Maturity Benefit. 

  4. Additional benefits for Enhanced Protection

    For enhanced protection, the plan offers an additional rider namely, LIC's Linked Accidental Death Benefit Rider that can be bought along with the base plan by paying additional premiums. 

  5. Guaranteed Additions Available

    A percentage of one yearly premium is added to the fund value as a Guaranteed Addition. The % of guaranteed additions at the end of the policy year are:

    End of the Policy year Guaranteed Additions (% of one yearly premium)
    6 5%
    10 10%
    15 15%
    20 20%
    25 25%


Along with Ms.Mamta, our other customers who have bought LIC SIIP plan are happy with the plan’s features and all the benefits they can avail. They all agree that the plan offers double benefits of investment and life insurance, and is an affordable way to secure you and your family’s future financial needs.

FAQ’s asked by the customers

  • Q: Is it worth buying a LIC SIIP Plan?

    Ans: Yes, LIC SIIP not only gives you life security but also allows you to invest your money for your future needs. You can get a maturity of up to Rs.. 30 Lakhs by investing Rs. 5000 every month for 15 years.
  • Q: Does the LIC SIIP plan have any age restrictions?

    Ans: Yes, only individuals between the age of 90 days to 65 years are eligible to buy LIC SIIP plan.
  • Q: What type of plan is LIC SIIP?

    Ans: LIC SIIP is a unit-linked life insurance plan that allows the policyholder to avail of the benefits of both life insurance and investments.


*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Tax benefit are for Investments made up to Rs.2.5 L/ yr and are subject to change as per tax laws.
+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

LIC of India
Need guidance? Ask here
LIC Plans
LIC Jeevan Utsav
LIC Jeevan Kiran
LIC Dhan Vriddhi
LIC Monthly Investment Plans
LIC Jeevan Azad
LIC 1 Crore Endowment Plans
LIC Jeevan Labh 1 Crore
LIC Crorepati Plan
LIC Dhan Varsha - Plan No. 866
LIC Pension Plus Plan
LIC New Jeevan Shanti
LIC Bima Ratna
LIC Group Plans
LIC Fixed Deposit Monthly Income Plan
LIC Savings Plans
LIC’s New Jeevan Anand
LIC New Jeevan Anand Plan 915
LIC's Saral Jeevan Bima
LIC's Dhan Rekha
LIC Jeevan Labh 836
LIC Jeevan Jyoti Bima Yojana
LIC Child Plans Single Premium
LIC Child Plan Fixed Deposit
LIC Jeevan Akshay VII
LIC Yearly Plan
LIC Bima Jyoti (Plan 860)
LIC’s New Bima Bachat Plan 916
LIC Bachat Plus Plan 861
LIC Policy for Girl Child in India
LIC Samriddhi Plus
LIC New Janaraksha Plan
LIC Nivesh Plus
LIC Policy for Women 2024
LIC Plans for 15 years
LIC Jeevan Shree
LIC Jeevan Chhaya
LIC Jeevan Vriddhi
LIC Jeevan Saathi
LIC Jeevan Rekha
LIC Jeevan Pramukh
LIC Jeevan Dhara
LIC Money Plus
LIC Micro Bachat Policy
LIC Endowment Plus Plan
LIC Endowment Assurance Policy
LIC Bhagya Lakshmi Plan
LIC Bima Diamond
LIC Anmol Jeevan
LIC Bima Shree (Plan No. 948)
LIC Jeevan Saathi Plus
LIC Jeevan Shiromani Plan
LIC Annuity Plans
LIC Jeevan Akshay VII Plan
LIC SIIP Plan (Plan no. 852) 2024
LIC Jeevan Umang Plan
LIC Jeevan Shanti Plan
LIC Online Premium Payment
LIC Jeevan Labh Policy-936
LIC Money Plus Plan
LIC Komal Jeevan Plan
LIC Jeevan Tarang Plan
LIC Bima Bachat Plan
LIC’s New Money Back Plan-25 years
LIC Money Back Plan 20 years
LIC Limited Premium Endowment Plan
LIC Jeevan Rakshak Plan
LIC New Jeevan Anand (Previously LIC Plan 149)
LIC New Endowment Plan
LIC Varishtha Pension Bima Yojana
LIC Investment Plans
LIC Pension Plans
Show More Plans
LIC Calculator
  • One time
  • Monthly
/ Year
Sensex has given 10% return from 2010 - 2020
You invest
You get
View plans

LIC of India articles

Recent Articles
Popular Articles
LIC Amritbaal Premium Calculator

29 Mar 2024

LIC Amritbaal Premium and Maturity Calculator is an online tool
Read more
LIC New Endowment Plan Maturity and Premium Calculator

04 Mar 2024

LIC's New Endowment Plan premium and maturity calculator allows
Read more
LIC Amritbaal

22 Feb 2024

LIC Amritbaal is a newly launched plan specially designed to
Read more
Benefits of LIC Jeevan Amar

13 Feb 2024

LIC Jeevan Amar is a term insurance policy offered by the LIC of
Read more
LIC Jeevan Azad Calculator

12 Feb 2024

LIC Jeevan Azad Calculator is an online tool that allows
Read more
10 Best LIC Plans to Invest in 2024
Ever since its inception in 1956, LIC has been maintaining its stronghold in the Life Insurance domain with its
Read more
LIC Online Premium Payment
The LIC Online Payment by Policybazaar enables policyholders to pay their insurance premiums online at their
Read more
How to Check the Maturity Amount of LIC Policies?
The LIC maturity value is the amount payable to the policyholder upon the completion of the policy term. LIC
Read more

Download the Policybazaar app
to manage all your insurance needs.