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LIC Single Premium Endowment Plan -817

 LIC Single Premium Endowment Plan Table no. 817

LIC Single Premium Endowment Plan Table no. 817 is a single premium endowment plan,non-linked with profits Endowment Plan. This plan introduced with effect of 1st Jan 2014.

Conditions and restrictions or Eligibility

Min. Age 90days (completed)
Max. Age 65 years (nearest birthday
Mini. Policy Term 10 Years
Max. Policy Term 25 Years
Min. age at Maturity 18 Years (Completed)
Max. age at Maturity 75 Years (Completed)
Mode Single Premium Only
Minimum .S.A Rs.50,000
Max.S.A No.Limit

 

Age at entry life assured is to be taken as age near birthday except for the minimum age at entry i.e.90 days.

Risk  under this plan will commence 2 years from the date of commencement of from the policy .

 

Benefits of the LIC Single Premium Endowment Plan Table no. 817:

*Sum assured

*Simple Reversionary bonuses

*Final additional bonus, if any,

 

Death benefit

*Before commencement of risk

Return of single premium excluding taxes and extra premiums, if any.

 

Loan on LIC Single Premium Endowment Plan Table no. 817

 

Available after completion of 1 year.

Loan will depend on year of policy and policy term.

Maximum loan shall be granted as a percentage of Surrencer value.

 

Benefits of the high sum assured (per thousand sum assured)

 

Rebate (Rs.)
50,000 to 95,000 Nill
1,00,000 to 1,95,000 18% Sum Assured
2.00,000 to 2,95,000 25% Sum Assured
3,00,000 and above 30% Sum Assured

 

 

Surrender Value:

 

This  policy can be surrender any time during the policy term

Guaranteed Surrender Value:

Guaranteed Surrender Value  as under:

 

1st– Year : 70% of the single premium excluding taxes and extra premium, if any

 

Thereafter: 90% of the single premium excluding taxes and extra premium, if any

 

The surrender value of vested simple reversionary bonuses, if any , shall also be payable, which is equal to vested bonus multiplied by surrender value factor applicable to vested bonuses

 

Loan:

Loan facility is available under this plan, after completion of one policy year.

Income Tax Benefit:

U/s 80c up to 10% of SA

 

 

 



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