LIC’s Limited Premium Endowment Plan (TABLE NO. 830)

LIC LIMITED PREMIUM ENDOWMENT PLAN is a combined benefit of saving and protection,you can call a short term plan also. Because in this plan insured have 3 terms (12 , 16 , and 21 years) but premium paying terms are ( 8 and 9 years) that’s why we called a limited premium .Those who planned for short term, this plan is a best option for them.

 

WHY CHOOSE THIS PLAN :

  Plan for short term .

 Policy terms are 12 , 16 & 21 yrs But premium paying terms are 8 & 9 yrs.

  Accidental death & Disability benefit rider facility available.

  Plan for 80c & 10(10D) tax benefit.

 

BENEFITS OF PLAN :

ON DEATH : If insured dies during the policy term , then nominee will get  SUM ASSURED on death . simple reversionary bonus and final additional bonus , if any , shall be payable. The sum assured on death equals 125% of basic sum assured OR 10 times the annualized premium OR 105 % of all premium. The death benefits would not be less than 105% of all the premiums paid as on the date of insured death.

ON MATURITY : On maturity insured will get , sum assured along with vested simple reversionary bonuses and final additional , if any , shall be payable . where sum assured on maturity is equal to basic sum assured.

PLAN PARAMETERS

Age of Entry 18 to 62 years
Premium Paying Mode Yearly, Half Yearly, Quarterly, Monthly (ECS Only)
Premium Payment Term 8 or 9 Years (Fixed)
Policy Term 12, 16 and 21 Years (Fixed)
Basic Sum Assured 300000 and above ( in multiple of 10000)
Policy Revival within 2 year
Rebate Premiums 2% on yearly, 1% on Half Yearly, Nil on Quarterly
Loan After 2 years
Surrender After 2 years of full premium payment
Guaranteed Surrender Value From 30% to Maximum 80% of total premium paid

 

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