Limited Premium Endowment Plan (T-830)

Limited Premium Endowment Plan (T-830)

LIC Limited Premium Payment Plan is a short term Endowment Plan in which client have to pay the premium for only 8 or 9 years and have the maturity options of 12 years, 16 years & 21 years according to their needs. This plan is most suitable for those who don’t want to invest their money for a longer term and want a huge corpus to accumulate for their future needs.

 

LIC Limited Premium Payment Plan – USP’s

Let’s check some unique selling points of Limited Premium Endowment Plan

  • Cover wide age group from 18 years to 62 years of clients.
  • Risk cover up to 125% of sum assured from day 1.
  • Shorter premium paying term reduces long term burden.
  • Medium and long term of the policy helps to accumulate huge corpus for their specific purposes.
  • High bonus rates provide better returns.
  • This Plan is available with helpful add-on riders like accidental rider and term rider for extra benefits to the policyholder.
  • Double tax benefit of section 80C and 10(10D).
  • Policyholders can avail loan facility on this plan after completing 3 years.

Policy Benefits Of LIC Limited Premium Endowment Plan:

ON DEATH:

Sum Assured on Death (125% of Basic Sum Assured) + Vested Bonus + FAB if any,

ON SURVIVAL:

Basic Sum Assured + Vested Bonus + FAB.

 

Eligibility Criteria:

       Minimum Age to Apply                          18 Years(Completed)
       Maximum Age to Apply                     62 Years (Nearest Birthday)
                 Policy Term                               12, 16 & 21 Years
        Premium Paying Term                                   8 or 9 Years
       Maximum Maturity Age                                      75 Years
       Premium Paying Mode  Yearely, Half Yearly, Quaterly, Monthly (NACH)
          Basic Sum Assured   ₹ 3,00,000 & Above (In Multiple of  ₹ 10,000)
                       Loan                                 After 2 Years

 

LIC Limited Premium Endowment Plan

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