lic whole endowment plan

lic whole endowment plan

Single Premium Endowment Plan (Table No. 817)

LIC's Single Premium Endowment Plan is a non-linked savings cum insurance plan.Under this plan no. 817, the entire premium can be paid just once at the start of the policy. Lic Single Premium Endowment Policy plan no. 817 is an endowment policy where Sum assured along with Bonus and Final additional bonus will be paid to the policyholder, at the end of the policy term or policy period.

  Key Benefits:

• Single Premium Policy with Profit plan.
• Minimum age at entry is 90 days.
• Large Sum Assured is available under this plan.
• Loan available after completion of one year.
• High Bonus, High Liquidity, and Saving point.

Eligibility Criteria For Plan:   Minimum Age at Entry 90 Days (Completed) Maximum Age at Entry 65 Years(Nearest Birthday)  Maturity Age 18 Years to 75 Years Policy Term 10 Years to 25 Years Minimum Sum Assured 50000/-  Maximum Sum Assured No Limit (sum assured multiple in 5000/-) Policy Mode Single Premium High Sum Assured Rebate (per thousand) 50,000 to 95,000 -- Nil 1,00,000 to 1,95,000 -- 18% on B.S.A. 2,00,000 to 2,95,000 -- 25% on B.S.A. 3,00,000 and Above-- 30% on B.S.A. Loan After payment of premiums for at least 3 full years Surrender Allowed after 3 year

 Maturity Benefits:

       On survival of the Life Assured to the end of policy term,

       Maturity benefit = Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.

Death Benefits:

1. On death during the policy term before the date of commencement of risk:

     If the insured dies before the date of commencement of risk, the single premium shall be refunded without interest, Service tax and extra premium will be excluded.

    2. On death during the policy term after the date of commencement of risk:

     If the policyholder dies after the date of commencement of risk, the Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any shall be payable.