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About LIC's Single Premium Endowment (817)

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LIC’s Single Premium Endowment Plan is a partcipatng non-linked savings cum protecton plan, where premium is paid in lump sum at the outset of the policy. This combinaton provides fnancial protecton against death during the policy term with the provision of payment of lumpsum 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.

At a glance

Benefits & Other Features

Death Benefit:

  • On death during the policy term before the date of commencement of risk: Return of single premium excluding service tax and extra premium, if any, without interest.
  • On death during the policy term afer the date of commencement of risk: Sum Assured along with vested Simple Reversionary Bonuses and Final Additonal Bonus, if any.

Maturity Benefit:
Sum Assured, along with vested Simple Reversionary Bonuses and Final Additonal Bonus, if any, shall be payable.

Participation in profits:
The policy shall partcipate in profts of the Corporaton and shall be enttled to receive Simple Reversionary Bonuses declared as per the experience of the Corporaton. Final (Additonal) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity on such terms and conditons as may be declared by the Corporaton from time to time.

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