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|
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:
*Simple Reversionary bonuses
*Final additional bonus, if any,
*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)
|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|
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 facility is available under this plan, after completion of one policy year.
Income Tax Benefit:
U/s 80c up to 10% of SA