Single Premium Endowment Plan - 817
LIC's Single Premium Endowment Plan is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy. This combination provides financial protection against death during the policy term with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.
Benefits
Death Benefit:
a) On death during the policy term before the date of commencement of risk: Return of single premium excluding service tax and extra premium, if any, without interest.b) On death during the policy term after the date of commencement of risk: Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any.
Maturity Benefit:
Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.Participation in profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation.
Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity on such terms and conditions as may be declared by the Corporation from time to time.
Eligibility Conditions and Restrictions:
| Particulars | Description |
|---|---|
| Entry Age | 90 days (completed) to 65 years (nearest birthday) |
| Maturity Age | 18 to 75 |
| Policy Term | 10 to 25 years |
| Premium mode | Single Premium only |
| Basic Sum Assured | 50000 and above (no upper limit) |
Contact me 9899551897 or send your detail on satishkumar.licofindia@gmail.com to get your insurance plan.
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