SIIP is a LIC ULIP plan, which is recently launched.
Risk cover option.
Age below 55 years Basic S.A. = 10 times of annualized premium
Age above 55 years Basic S.A. = 7 times of annualized premium
Maturity benefit : An amount equal to the Unit Fund Value Plus Mortality charges is payable.
Death Benefit:
On death before Commencement of Risk: Amount equal to the Unit Fund Value shall be payable.
On death after Commencement of Risk: Higher of Basic sum assured Or Unit fund value Or 105% of total
Guaranteed Additions
premiums paid up to date of death
Policy year | Guaranteed addition as % to A.P. | Policy year | Guaranteed addition as % to A.P. |
6 | 5% | 20 | 20% |
10 | 10% | 25 | 25% |
15 | 15% |
There are 4 types of FUNDS
1 Bond fund,
2 Secured fund,
3 Balanced fund &
4 Growth Fund.
