This policy states that only a single premium payment is to be made and the bonus will be paid throughout the term of the policy. LIC Single Premium Endowment Plan (T-917) is a savings cum protection plan, where premium is paid in lump sum at the outset of the policy. This combination provides financial protection against death during the policy term with the provision of payment of lump-sum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.
Why Single Endowment Plan
This plan gives you an option to pay your insurance premium once and for all to enjoy bonuses throughout the term of the policy.
There is no upper limit for the amount to be paid at the first premium and the time of maturity is from 10 years to 25 years.
- Cover wide age group from 90 Days to 65 years.
- Single Premium Plan Means No Future Premium Burden.
- Best Gift to Child from Parents / Grand Parents to Ensure His / Her Education and Marriage Expenses.
- Eligible for Bonuses and Final Addition Bonuses declared by LIC.
- The Policy Can Be Surrendered At Any Time During The Policy Term.
- Loan Facility Is Available Under This Plan After Completion Of One Policy Year.
In the event of the unfortunate death of the policy holder, the sum assured will be paid to the nominee. On Death After Commencement Of Risk: Sum Assured + Vested Bonus + FAB if any, On Death Before Commencement Of Risk: Return Of Single Premium.
The policy holder continues to receive bonuses throughout the term and at the end gets the sum assured. On completion of policy term, Sum Assured + Bonus + Final Addition Bonus will be paid as maturity.
|Minimum Age to Apply||90 Days (Completed)|
|Maximum Age to Apply||65 Years (Nearest Birthday)|
|Policy Term (Premium Payment Term)||10 to 25 Years|
|Maximum Maturity Age||75 Years|
|Premium Paying Mode||Single Premium Plan|
|Basic Sum Assured||50000 and above|
|Loan||After 1 year|
|Surrender||At Any Time|