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Thinking about pausing your LIC Mutual Fund SIP? Here's a summary of the key rules and guidelines:
Pausing:
- Purpose: Temporarily stop your SIP installments for a specific period.
- Frequency: Pause can be used twice during the entire SIP tenure.
- Duration: Pause can be applied for a minimum of 1 installment and a maximum of 6 installments.
- Eligibility:
- Only applies to SIPs that have completed 6 months.
- Not available for Unit Linked Insurance Plans (ULIPs).
- Not available for SIPs initiated through stock exchange platforms.
- Only applicable to monthly SIPs.
- Submission:
- Submit the completed "SIP Pause" section of the LIC SIP Pause Form at least 10 days before the next installment date.
- Submit the form to a nearby LIC Mutual Fund office or KFIN Tech office.
Alternative:
- If you only need to skip 3 installments, consider redeeming equivalent units from the same fund instead of pausing.
FAQs (Frequently Asked Questions):
- Maximum Pause Duration: 6 installments per use, limited to two uses during the entire SIP tenure.
- Pause Frequency: Twice during the entire SIP tenure.
- Skipping Installments: Use the LIC SIP Pause Form to skip a maximum of 6 installments.
Remember:
- Only fill out the "SIP Pause" section of the form.
- Submit the form well in advance of the next installment date.
We hope this information helps you make informed decisions about your LIC Mutual Fund SIP.
The pause facility allows investors to temporarily stop their LIC SIP installments for a certain period of time and resume them after the pause-period.
