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