LIC SIIP Plan (Plan no. 752) 2026

LIC SIIP Plan 752- Plan Overview

LIC SIIP Plan 752 (Systematic Investment Insurance Plan) is an exceptional investment product of LIC that not only provides life insurance coverage but also the opportunity for market-linked growth. It's a unit-linked plan that offers different equity and debt fund options, allowing investors to adjust their portfolio mix based on their risk appetite and financial objectives. Besides life insurance coverage, the SIIP LIC plan also helps create wealth over time, enabling the person to build a financial reserve for an assured future. As of 27th April 2026, the NAV (Net Asset Value) of LIC SIIP Growth Fund is Rs 21.7091.

Note: LIC SIIP (Systematic Investment Insurance Plan) was earlier known as the LIC 852 plan.

Features of LIC SIIP Plan 752

Let’s look at some of the key features of the policy.

• LIC SIIP plan 752 is a regular premium plan with savings options of monthly, quarterly, half-yearly and yearly.

• LIC SIIP offers four fund options to choose from.

• This plan offers risk cover with investments.

• The policyholder can make free switches between funds.

• LIC SIIP offers Guaranteed Additions at the end of 6, 10, 15, 20, and 25 years.

• The plan offers flexibility to choose:

  • Type of investment fund to invest the premium amounts as per your risk appetite. 

  • Premium amount paid, policy term subjected to maximum and minimum premium limits

  • Basic sum assured: 7 to 10 times the annualised premium amount, subject to entry age. 

• The SIIP 752 plan also provides add-on rider benefits such as LIC accidental death rider, to enhance the policy coverage.

• There is also an option to receive the death benefit in installments.

• The surrender facility is available after 5 year lock-in period.

• If the policyholder survives till maturity, the mortality charges are refunded as part of the payout.

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

• Partial withdrawals of funds are applicable under the policy.

Eligibility Criteria of LIC SIIP

The following are the eligibility criteria for LIC SIIP plan.

Benefits of LIC SIIP Plan 752

Here is a list of some of the benefits of LIC SIIP: 

If the life assured passes away before the policy matures (while the plan is still active), here's how the death benefit works:

• If death occurs before the risk commencement date: The nominee will receive the unit fund value as on the date LIC is informed about the death.

• If death occurs after the risk commencement date: The nominee will receive the highest of the following:

  • The basic sum assured minus any partial withdrawals made in the 2 years before the death.

  • The unit fund value on the date LIC is notified of the death.

  • 105% of the total premiums paid till the date of death, minus any partial withdrawals made in the last 2 years.

This ensures the nominee receives the most beneficial payout based on the policy’s terms.

Note: 

Risk commencement date: Date from which the insurance coverage officially begins; Unit fund value: The total value of your investment based on the current market value of the units you own; Partial Withdrawal: The process of taking out some money from your policy after a specific period, while the policy stays active.

1. Maturity Benefit

   Suppose the life assured survives the maturity date & provided all the due premiums are paid. In that case, the unit fund value along with the refund of mortality charges is payable by the insurer.

2. Guaranteed Additions  

   Guaranteed additions as a percentage of one yearly premium are added to the fund value on completing the following years of the policy. This is on the condition that all the due premiums are paid.

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

Optional Benefits Offered by LIC SIIP

1. Rider Benefits

   LIC Accidental Death Benefit Rider

   The plan offers an accidental death benefit rider option. Under this rider option, the accidental benefit sum assured is payable to the beneficiary if the insured person dies an unfortunate death due to an accident. The benefit offered under this policy shall be available till the maturity date or till the policy anniversary on which the age of the life assured is 70 years, whichever is earlier. Similarly, the rider benefit is also available in Term Insurance plans

2. Settlement Option

   This option allows the Death Benefit to be received in instalments. It can be chosen by the Policyholder (if the Life Assured is a minor) or by the Life Assured (aged 18 or above) during the policy term. The payout mode, i.e., yearly, half-yearly, quarterly, or monthly, must be selected in writing at the time of the request, along with the death certificate. The installments will be spread over a maximum of 5 years from the date the insurer is notified of the Life Assured's death. Once selected, the payout mode cannot be changed by the nominee.

3. Partial Withdrawals

   The policyholder can avail the facility of partial withdrawal of the units at any time after completing 5 years of the policy, provided all the premiums are duly paid. Some conditions are:

   • In the case of a minor- Partial withdrawals are applicable only after the life assured is age 18 years or above.

   • The withdrawals can be made in a fixed amount or in a fixed number of units.

   • The maximum sum of partial withdrawals 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%

Investments of Funds in LIC SIIP Plan 752

Unit Fund- The premium paid towards the policy is utilized to buy units as per the policyholder's type of funds. LIC SIIP offers 4 different fund options to choose from. Here is a look at these fund options and their investment pattern.

LIC SIIP Fund Performance

LIC SIIP Plan 752 offers four professionally managed investment funds, allowing policyholders to invest according to their financial goals and risk appetite. These funds range from conservative debt-oriented options to aggressive equity-focused investments.

Charges Applicable Under the LIC SIIP Plan

Let’s take a look at the charges applicable under the LIC SIIP Plan.

1. Premium Allocation Charge

   The premium allocation charge constitutes the part of the premium used to buy units for the policy. These charges shall never exceed 12.5% of the annualised premium amount.

   The following are the premium allocation charges.

   Premiums paid in 1st Year: 8% in Offline Sales, 3% in Online Sales

   Premiums paid during 2nd – 5th year: 5.5% in Offline Sales, 2% in Online Sales

   Premiums paid during 2nd – 5th year: 3% in Offline Sales, 1% in Online Sales

2. Policy Administration Charges

   From the 6th policy year onward, a monthly charge of ₹150 is deducted from the Unit Fund by cancelling units. This amount increases by 5% each year starting from the 7th year, up to a maximum of ₹500 per month (₹6,000 per year).

3. Mortality Charges

   Mortality charge is the cost of the life insurance cover. It is age-specific and is charged at the beginning of each policy month by canceling the appropriate number of units out of the unit fund value. The mortality charge depends on the sum at risk during the policy tenure.

   

4. Accidental Benefit Charges

   Accidental benefit charge applies to the accidental death benefit rider, if opted. This charge is deducted at the start of each month by canceling the appropriate number of units out of the unit fund while the policy is in force.  The accidental benefit charge is applicable at the rate of Rs.0.40 per thousand.

5. Fund Management Charge

   This charge is applicable as a percentage of the asset's value and is appropriated by adjusting the net asset value fund management charges. It is imposed at the time of calculating net asset value (NAV), which is done daily.

6. Switching Charges

   Under LIC SIIP plan, the policyholder can switch funds up to four times in a financial year. Subsequent switches in that year are subject to switching charges of Rs.100. The higher cap of this charge can not exceed Rs. 500/- per switch.

7. Partial Withdrawal Charge

   Rs. 100 is deducted from the unit fund as a partial withdrawal charge at the time of partial withdrawal.

8. Discontinuance Charges

   This charge is deducted by cancelling units from the Unit Fund based on its value on the policy discontinuance date.

9. Tax Charges

   Tax charges, if any, will be applied as per prevailing tax laws and rates set by the Government of India or any tax authority.

10. Miscellaneous Charges

    Miscellaneous charges apply for changes like switching premium modes or adding the Accident Benefit Rider after issuing the policy. A flat fee of ₹100 will be charged by cancelling units from the Unit Fund on the date of the change.

LIC SIIP Plan Details

1. Free-look Period

   If you are not satisfied with the policy's T&Cs, the policy may be returned to you within 30 days from the receipt date of plan documents in physical or electronic form (whichever event is earlier), mentioning the reasons of objections.

2. Grace Period

   A grace period of 30 days will be offered for yearly, half-yearly, or quarterly premium payments and 15 days for monthly premium payments from the 1st unpaid premium.

3. Surrender

   You can surrender the SIIP LIC plan anytime, however, these are the 2 conditions:

   • If surrendered during the 5-year lock-in, the fund value (after deducting charges) is moved to the Discontinued Policy Fund. Only Fund Management Charges apply, and no risk cover is available.

   • If surrendered after 5 years, the policy terminates after paying the full fund value without discontinuing charges.

4. Premium Discontinuance

   The policy becomes discontinued if you fail to pay a premium under the plan before the grace period expires.

5. Reinstament

   A surrendered policy cannot be reinstated, even if the policyholder requests it during the 5-year lock-in period.

What is Not Covered Under LIC SIIP?

Suicide is not covered under the LIC SIIP plan. In case the policyholder commits suicide within 12 months from the date of policy initiation or the date of revival of the policy - the beneficiary of the policy will receive the unit fund value available as on the date of death along by submitting the death certificate.

How to Buy LIC SIIP Plan From Policybazaar? 

The LIC SIIP plan can be purchased online from Policybazaar in addition to the official website. Here are the simple steps to do it: 

Step 1: Go to LIC on Policybazaar

Step 2: Fill out the form given on the top right corner with your name and contact. Click on ‘View Plans’

Step 3: Enter your resident city, age, and annual income from the options. Scroll down to LIC SIIP (Plan no. 752) and click on ‘View Details’.

Step 4: Here you can check the plan details, plan benefits, and fund performance (since LIC SIIP is a ULIP), and understand how the policy works. Click on ‘Proceed’.

Step 5: Enter the figures as you prefer. You can change the premium amount, the premium payment term, mode of payment, etc. Enter the required information, then click on ‘Proceed’.

Once you have provided all the required inputs, you will be required to pay the first premium to purchase the policy.

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