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 |