LIC's SIIP 752

 LIC’s SIIP 752 (Systematic Investment Insurance Plan) is a unique unit-linked insurance plan offered by LIC combining market-linked investment growth with life insurance protection. It provides the dual benefits of savings and security by investing premium payments in a choice of equity and debt funds while providing a life cover to policyholders. This plan is available with flexible premium payment options like monthly, quarterly, half-yearly, and yearly, suited for systematic savings and wealth creation along with insurance cover over the selected policy term.

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What is LIC SIIP 752?

SIIP 752 is a non-participating, ULIP insurance product that integrates disciplined investment systematically over a policy term with life cover. It aims to help individuals create a corpus for future financial goals while ensuring the family is financially protected. The investment portion is spread across four different investment funds based on policyholder risk appetite, with options to switch funds and withdraw partially after lock-in.​

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Key Features

• Life Insurance Cover: Provides life cover throughout policy tenure with sum assured multiples based on annualized premium.​

• Systematic Investment: Policyholder makes regular premium payments (monthly/quarterly/half-yearly/yearly), creating disciplined savings.i

• Four Fund Options: Equity-linked and debt-linked funds cater to various risk profiles, including:

  • Balanced Fund (debt-equity mix)

  • Equity Fund

  • Debt Fund

  • Money Market Fund.​

• Guaranteed Additions: Additional units credited as guaranteed additions at milestones boost returns.​

• Fund Switching: Flexible switching between funds to optimize returns.​

• Partial Withdrawal: Allowed after 5 years for liquidity.youtube​

• Maturity Benefit: Fund value payable at maturity along with refund of mortality charges.​

• Death Benefit: Highest of sum assured, fund value, or 105% of premiums paid paid to nominee on death.

• Rider: Accidental death benefit rider available to enhance policy coverage.​

• Tax Benefits: Premiums and maturity proceeds may qualify for tax benefits subject to applicable laws.​

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Eligibility Criteria

• Entry Age: Minimum 90 days (completed)

• Maximum Entry Age: 65 years (nearest birthday)

• Minimum Policy Term: 10 years

• Maximum Policy Term: 25 years

• Minimum Annualized Premium: ₹42,000 yearly or equivalent premium for other frequencies

• Sum Assured: 10 times the annualized premium if entry age less than 55, else 7 times if more than 55.​

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Investment Fund Options and Charges

• Balanced Fund: Invests 30-70% in equity and debt instruments.​

• Equity Fund: Invests mainly in equity for higher growth potential.​

• Debt Fund: Invests in government/non-government bonds, fixed deposits for stable income.

• Money Market Fund: Invests in money market instruments for low risk and liquidity.​

• Charges: Fund management charge approx 1.35% per annum; premium allocation charges reduce in later years; mortality and other charges applicable.​

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Benefits

• Dual Benefit: Life cover with investment growth potential.

• Systematic Premium: Facilitates disciplined investment habit.

• Guaranteed Additions: Boost overall returns with assured additional units.

• Liquidity: Fund switching and partial withdrawals post lock-in.

• Flexibility: Multiple premium frequencies and investment options.

• Safety: Refund of mortality charges at maturity increases amount received.

• Tax Efficiency: Eligible for deductions and exemptions as per Indian tax laws.​

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Policy Maturity and Death Benefits

• Maturity: On survival, policyholder receives fund value along with refunded mortality charges on maturity date.​

• Death: Nominee gets higher of sum assured less withdrawals in last 2 years, fund value, or 105% of total premiums paid.​

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How to Buy SIIP 752

• Available through LIC’s offline channels and online portals.

• Submit KYC docs, medical exam if required.

• Online purchase may offer additional rebates on premium charges.

• Policy documents and benefits accessible on LIC’s online customer portal.​

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Suitability

Ideal for dynamic investors seeking disciplined savings with combined life cover and wealth growth, looking for flexible payment modes, fund options, and liquidity with long-term goals like retirement, child education, or wealth creation.​

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Conclusion

LIC’s SIIP 752 provides a comprehensive solution blending regular savings, market-linked investments, and insurance protection. With its guaranteed additions, risk-managed fund choices, rider options, and life cover, it caters well to investors looking for structured wealth creation coupled with family protection. Backed by LIC’s brand, it offers reliability and a robust growth avenue for long-term financial planning.