Lic Single Premium Endowment in delhi | LIC's Single Premium Endowment Plan - Review | Details | Benefits and eligibility in delhi

lic single premium endowment plan, benefits of lic single premium endowment plan,LIC's Single Premium Endowment Plan - Review, Details, Benefits and eligibility


LIC Single Premium Endowment


It is basically traditional endowment with death and maturity benefits to the policyholder. Even bonus facility is given along. In this plan, the premium is paid in the starting which is paid in a lump sum amount. It serves the investment purpose and even secures you if one faces an untimely demise. There is a sure short return on them this means these plans are secure and provides people with financial benefits. These plans including the LIC'S single premium plan provides insurance cover of the policyholder which means that if any unfortunate incident takes place to the insured than a lump sum amount will be given to the family. So if the person is the bread earner of the family, there might not be a problem if this plan is availed. Even rebates are offered by LIC single premium policy. One can even avail loan on these plans. Under the Income-tax Act, tax benefits are there for the people who take these policies.

Key features of LIC Single Premium Endowment Plan

This policy can be taken for anyone between 90 days to 65 years of age.

If the person survives till the end of the policy tenure or an earlier death takes place.

The entire sum quoted along with accrued bonus would be given to the policy terminates.

The policy has participation in the profits of LIC and offers Reversionary Bonus and Final Addition Bonus if there are any.

Sum assured in this policy starts from a minimum of Rs 50,000.

These are no maximum limit for quoting the amount but the sum has to be in multiples of 5000.

Minimum age for this plan is 90 days and can go up to 65 years.

Maturity age for this plan is minimum 18 years and maximum could be 75 years. If the person insured is less than 8 years of age than the risk cover under this plan will commence from 2 years after the start of the policy or from the anniversary of the LIC single premium policy coinciding with or immediately following the date of the person turning 8 years of age.

Policy term may be from ten to twenty years.

Benefit of LIC'S Single Premium Endowment Policy

If the policyholder survives till the end of the policy tenure then the sum quoted along with the simple reversionary bonus and final addition bonus if any will be given to the insured person as the benefits of maturity of the policy. Each year simple reversionary bonus is declared as a percentage of the quoted sum under this policy. The sum assured is not increased because of the bonus amount. At the end of this policy, the final additional bonus may be declared if the person insured has paid all the premiums on time. It is a kind of appreciation given by the company to the policyholder.

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Lic Single Premium Endowment, LIC's Single Premium Endowment Plan - Review, Details, Benefits and eligibility
lic single premium endowment plan, benefits of lic single premium endowment plan