Single Premium Endowment Plan (T-817)
LIC Single Premium Endowment Plan is a onetime payment Endowment Plan which provides maturity to the client at the end of the term. This plan provides easy liquidity to the policyholder.
LIC Single Premium Endowment Plan – USP’s
Let’s check some unique selling points of Single Premium Endowment Plan
- Covers wide age group of child aged 90 days to 65 years young guys.
- Policy term from 10 years to 25 years is allowed.
- Can be gifted to a child from their parents or grandparents.
- Surrender of this policy is allowed at any time during the policy term.
- Loan can be availed after completion of 1 year.
- On completion of policy term, Sum Assured + Bonus + Final Addition Bonus will be paid as maturity.
Death Claim Benefit:
- On Death After Commencement Of Risk: Sum Assured + Vested Bonus + FAB if any, On Death Before Commencement Of Risk: Return Of Single Premium.
|Minimum Age to Apply||90 Days (Completed)|
|Maximum Age to Apply||65 Years (Nearest Birthday)|
|Policy Term||10 to 25 Years|
|Premium Paying Term||Single Premium Plan|
|Maximum Maturity Age||75 Years|
|Basic Sum Assured||₹ 50,000 & Above|
|Loan||After 1 Year|