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LIC SIIP Plan Life Insurance Eligibility

7 reviews Rate This
Highlights
Claim Settlement Ratio98.62%
Customer Care8:00 AM to 8:00 PM
Death Benefit Paid For73,3809 Policies
Inception1956
Presence2048 Branches
Total Death Benefit Paid12797.85 Crore

Take a look at the different eligibility parameters of the LIC SIIP Plan:

Minimum entry age

90 days

Maximum entry age

65 years

Minimum maturity age

18 years

Maximum maturity age

85 years

Minimum policy term

10 years

Maximum policy term

30 years

Premium paying term

Same as policy term

Sum assured (below 55 years of age)

10 times annualised premium

Sum assured (above 55 years of age)

7 times annualised premium
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Key Inclusions and Exclusions of the Plan

What's Not Included

  • There are certain exclusions to the LIC SIIP Plan such as the following: If the policyholder commits suicide within 12 months of the policy term, then there is no death benefit provided to the policyholder. However, this is not applicable if the entry age of the policyholder is below 8 years. If the policy lapses due to failure of paying out the premium, then no benefits shall be paid out.

LIC SIIP Reviews

5.0
Rating based on
7 User reviews
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What users are saying
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  • Too good website

    I was in search of the LIC of India- LIC SIIP when I found the InsuranceDekho website. Must say I got to learn a lot about life insurance as well as the LIC plans. On talking to the team, I came to know that it would be the best for me. So, thanks to the team! 

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    M
    By Madhu Bhadarkar
    On: Aug 22, 2023
  • Happy with InsuranceDekho

    I am very happy with the entire team of InsuranceDekho. You guys are so supportive and understanding of the customer’s needs. Because of you, I was able to get the LIC of India- LIC SIIP issued which otherwise would have been a difficult task for me. Thanks a lot! 

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    H
    By Hitesh Jain
    On: Aug 07, 2023
  • Quick and Smooth Application P...

    The application process for InsuranceDekho policies was quick and smooth. I was provided with a detailed explanation of the different coverage options available. And after much deliberation, I bought the LIC of India- LIC SIIP.

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    N
    By Nida Khan
    On: Jul 24, 2023
  • A good life insurance plan

    I decided to buy the LIC of India- LIC SIIP from InsuranceDekho as this plan had so many amazing benefits to offer. Moreover, this plan was extremely affordable so I did not have to worry about the budget while buying the plan.

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    D
    By Deepshikha Narang
    On: Jul 17, 2023
  • Intuitive website

    The website of InsuranceDekho is extremely easy to use. Even as a beginner, I was able to use the website and explore the different life insurance plans available. I eventually bought the LIC of India- LIC SIIP from InsuranceDekho. 

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    A
    By Aravind Patti
    On: Jul 12, 2023
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LIC of India Life Insurance Plan List

    Name of PlanSum Assured
    LIC Bima Jyoti20 lac - 10 cr Check Premium
    LIC Jeevan Umang20 lac - 10 cr Check Premium
    LIC Jeevan Anand20 lac - 10 cr Check Premium
    LIC Jeevan Labh20 lac - 10 cr Check Premium

    FAQs on LIC SIIP Health Insurance Plan

    • What are the minimum and maximum entry age of the LIC SIIP Plan?

      The minimum and maximum entry age of the LIC SIIP Plan are 90 days and 65 years respectively.

       

    • Can I get the maturity benefits of the LIC SIIP Plan?

      Yes, the maturity benefit is offered with LIC SIIP Plan and is paid out once the policy matures.

       

    • Is death due to suicide covered under LIC SIIP Plan?

      No, if the policyholder dies within 12 months of buying the LIC SIIP Plan, then there will be no coverage provided. 

       

    • How many fund options can I get with the LIC SIIP Plan?

      With the LIC SIIP Plan, there are four fund options available: growth fund, bond fund, balanced fund, and secured fund. 

       

    • What is the lock-in period in LIC SIIP Plan?

      The lock-in period in LIC SIIP Plan is 5 years during which no amount can be withdrawn. 

       

    LIC of India Life Insurance Contact Details

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