LIC Single Premium Endowment Plan
LIC Single Premium Endowment Plan - Table no 817 Features
LIC Single Premium Endowment is an Life Insurance policy in which You Have to Pay Premium Just Once. This plan not related to the market. You Have to pay premium at the starting of policy and Benefits you will get from LIC Single Premium Endowment Plan at end of policy Term or to the Nominee in case of Policy holder death.
LIC Single Premium Endowment Plan Details
- This is Single Premium Endowment Plan
- Maturity Benefit is Equal to Sum Assured Plus Accrued Bonus
- Death Benefit during the Policy Term is Equal to Sum Assured Plus Bonus
- In this Plan You will also Get Simple Reversionary Bonus on maturity or earlier death
- You Can Take Large Sum Assured in this plan.
LIC Single Premium Endowment Plan Benefits
Death Benefit - If Person Dies during the Policy Term, the Nominee will get the Benefits. If Person Dies Before the commencement of risk, Return of single Premium Excluding Service Tax and Extra Premium , If Any, Without Interest , would be returned as Death Benefit and the policy will Close But After the commencement of Risk, Nominee will Get Sum Assured Plus accrued Bonuses as Death Benefit and the policy will Close.
Maturity Benefit - LIC Single Premium Endowment Plan maturity Benefits is Equal to Sum Assured + accrued Reversionary Bonus + Final Addition Bonus (if any).
Income Tax Benefit - Income Tax Benefits available on Paid Life Insurance Premium under Section 80C & Maturity Benefit will also be tax free under section 10(10)D.
Eligibility conditions and other restrictions in LIC Single Premium Endowment Plan
- Sum Assured Minimum Rs. 50,000 in multiples of 5000 & Maximum Unlimited
- Policy Term Minimum 10 Years & Maximum 25 Years
- Premium Payment Term Minimum & Maximum Single Premium
- Entry Age of Policyholder Minimum 90 Days & Maximum 65 Years
- Age at Maturity Minimum 18 Years & Maximum 75 Years
- Payment modes is Only Single