LIC SINGLE PREMIUM ENDOWMENT PLAN, as the name suggest in this plan entire premium is paid just once at the start of the policy term. If someone have a lump sum amount he/she can easily opt for this plan through investing one time as a single premium .
• No regular investment only invest whole premium at once as a single premium.
• It can be taken for any one between age of 90 days to 65 years.
• Loan Loan Facility is accessible under this plan, after fulfillment of one strategy year.
• Income Tax Benefit: u/s 80C up to 10% of SA.
On death of insured BEFORE COMMENCEMENT OF RISK , single premium will be return excluding all taxes and extra premium ,if any , without interest.
: On death of insured AFTER COMMENCEMENT OF RISK , sum assured along with vested simple reversionary bonuses and final additional bonus , if any , shall be payable.
: On survival of the policy , sum assured along with vested simple reversionary bonuses and final additional bonus , if any , shall be payable.
|Min. / Max. Entry Age||90 days (completed) / 65 years|
|Min. / Max. Maturity Age||18 years / 75 years|
|Min. / Max. Policy Term||10 TO 25 Years|
|Min. / Max. Sum Assured||50,000/- / NO Limit|
|Mode Of payment||YLY , HYLY , QTRLY , MTHLY|