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LIC International Systematic Wealth Creation Plan

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LIC International BSC, established in 1989, is headquartered in the Kingdom of Bahrain with branches in the UAE (Abu Dhabi and Dubai), Kuwait, Oman, and Bahrain. Originally an Indian insurance company, it enjoys a great market niche addressing the Indian expatriates residing in the 4 GCC countries.

In the UAE, the LIC is widely popular for offering exceptional products to Indian expats in the country such as endowment policies, ULIPs, pension plans, term plans, and more.

Let’s know about one such distinctive product called Systematic Wealth Creation Plan - Limited Payment Unit-Linked Investment Plan (ULIP) in the article below. 

LIC International Systematic Wealth Creation Plan: An Overview

Systematic Wealth Creation Plan is a ULIP that enables you, as an Indian expatriate, to invest a regular income for a specified term of 10, 15, or 20 years. This LIC investment plan allows you to accumulate wealth by investing extra funds through a top-up.

This plan is a whole life insurance policy that you can fully withdraw after a lock-in period of 3 years. If the life assured dies, the policy provider also pays a death benefit.

With this LIC ulip plan No. 271, you get an opportunity to try and invest across multiple asset classes including equity funds, fixed-income funds, and multi-asset funds. The Systematic Wealth Creation Plan also offers international investment opportunities via 70 funds that are managed by the world’s top 9 fund houses.

This plan has been designed to cater to the requirements regarding investment and savings and can be customised as per your investment goals. You also get the option to choose the premium amount and make a limited premium payment for a pre-determined tenure of 10 years, 15 years, or 20 years (depending on your risk appetite and financial objectives).

Primary Features of the Systematic Wealth Creation Plan (Plan No. 271)

The table below draws attention to the key features of LIC International Systematic Wealth Creation Plan -

Feature Description
Minimum Age at the Time of Entry 0 years (for the proposer - 18 years)
Maximum Age at the Time of Entry 75 years
Minimum Premium USD 5,000|USD 2,500|USD 1,500|USD 500
Mode of Premium Payment Annually|Half-yearly|Quarterly|Monthly
Maximum Premium Amount  No Limit (subjected to underwriting)
Minimum Premium Top-up Amount USD 500 (To be invested in the multiples of USD 100 for both top-up premium and regular premium)
Policy or Premium Payment Tenure Whole Life/ Limited Term 10/ 15/ 20 Years
Underwriting Requirement  Non-medical
Free Lock Period 30 Days from the Date of Issuance

Major Benefits of Plan No. 271 LIC International Systematic Wealth Creation Plan

Here are the key benefits of LIC International Systematic Wealth Creation Plan -

  • Partial Withdrawal Benefit - You can withdraw a part of your funds at any point (charges applied). The minimum withdrawal amount is USD 5,000. 
  • Full Withdrawal Benefit - You have the option to fully take out the funds after 3 years (surrender charges will be applied),
  • Maturity Benefit - Since it is a whole life insurance plan, there is no maturity benefit for a fixed term. You can, however, withdraw the full value at any point in the policy tenure.
  • Death Benefit - The beneficiary will receive 101% of the fund value at the time of the policyholder’s death.

The following are the additional benefits of LIC International Systematic Wealth Creation Plan -

  • Additional Investment - You have the option to put in top-up investments at any time during the polity tenure. The minimum top-up amount is USD 500 and should be paid in multiples of USD 100.
  • Option to Switch Funds - With this LIC ULIP plan, you have the option to switch funds in the portfolio at any time in the policy. You are also allowed to switch the funds as many times as you wish in a year. 

What Makes LIC International Systematic Wealth Creation Plan Different?

Discussed below are the unique selling points for this LIC ULIP plan -

  • Flexible Investment Options - You get the option to invest in 70 funds of different classes from the global fund houses across an array of asset classes.
  • Affordable - The charges are relatively lower compared to other plans in the market. 
  • Liquidity - You have the option to partially withdraw the funds from the 1st year. Note that full withdrawal is allowed only after 3 years.
  • Financial Discipline - When you pay regular premiums and do top-up investments, you save more and ensure higher returns on investment. 
  • Transparency - This LIC ULIP plan has a simple and clear charges’ structure, investment value, and a pre-defined expected rate of return. 
  • Risk Diversification - You can spread the risk by switching assets from time to time. 

Who Can Opt for the Systematic Wealth Creation Plan?

If you are someone who wants a plan to create long-term wealth, you can opt for the Systematic Wealth Creation Plan. You can apply for this LIC ULIP plan in the following situations -

  • For Your Child’s Education - You can use this LIC investment plan to create a corpus by regular savings and also by paying top-up premiums. The eligible age for this plan is 0 years.
  • For Retirement - With this LIC ULIP plan, you can create a retirement corpus via Systematic Investment early on in life and start Systematic Withdrawal as a pension at an older age. Since this is a whole-life plan, it allows you to make systematic withdrawals up to the age of 99 years.

LIC International Systematic Wealth Creation Plan Charges

Here are the charges associated with LIC International Systematic Wealth Creation Plan -

  • Establishment Fees - From the start of the regular premium payment period (10 years, 15 years, or 20 years), a fee of 5.9% will be added to the regular premium. The extra investment or top-up premium will be charged 2.5% upfront.
  • Policy Administration Fees - An amount equal to USD 17 USD will be charged each month.
  • Policy Management Fee - There will be a monthly fee equivalent to 0.125 % of the fund valuation.
  • Switching Fees - No fee is applicable for any amount of switches throughout the year.
  • Surrender Fee - The proportion of the premium paid at the time of the surrender date is how the surrender charges are calculated.


Q1. What can this ULIP plan be used for?

Ans: You can use this LIC ULIP plan for creating a corpus for retirement or for your children’s further education.

Q2. What are the asset class and funds options under this LIC ULIP plan?

Ans: The asset classes offered here include multi-asset funds, total funds, equity funds, and fixed-income funds.

Q3. What are the surrender charges under the LIC International Systematic Wealth Creation Plan?

Ans: At the date of surrender, the surrender charges are calculated as a percentage of the premium paid. After four, five, or six years for ten, fifteen, or twenty years, there are no surrender fees.

Q4. What are the four major benefits of this LIC ULIP plan?

Ans: The 4 major benefits of the LIC International Systematic Wealth Creation Plan are partial withdrawal, full withdrawal, maturity benefit, and death benefit.

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