LIC Single Premium Endowment

LIC Single Premium Endowment

LIC Single Premium Endowment

LIC Single Premium Endowment Plan (817)

LIC Single Premium Endowment plan (LIC Table No 817) is an endowment insurance policy with savings plan where the single premium paid once at the start of the policy. LIC Single Premium Endowment policy offers bonus and isहिंदी में जानें traditional plan. In this plan the premium is paid in lump sum at the beginning of the policy and the returns are given to the policyholder at the end of policy term or to the nominee in case of death of the policyholder.



Key Features

LIC single premium endowment plan 817 is a combination of Endowment plus Term insurance by paying single premium amount. Single premium endowment plan participates in Profits.

In this plan if person lives till end of Term of the policy,policy holder will be given Maturity Benefit which is SUM ASSURED + BONUS +FAB (if any).

If policy holder dies within the term of the Policy Death Benefit paid to Nominee i.e. SUM ASSURED + BONUS acquired till that Year.

There is High Bonus and High liquidity and saving under this LIC Bima plan 817.

Plan Parameters

Age Min. age –  90 days (completed).Max. age – 65 years.
Policy Term Min. Term -10 years.Max. Term – 25 years.
 Sum Assured Min. : Rs. 50,000.Max. : No Limit.
Premium payment Premium Paying Mode – One time Premium Payment.

LIC Single Premium Endowment Policy Benefits

Maturity Benefit

Sum Assured + Simple Reversionary Bonus +final additional bonus (if any).

Death Benefit

After Commencement of Risk : If the Insured person dies within the Policy Term after the commencement of Risk, then death benefit will be given to Nominee of the Policy. Death Benefit = Sum Assured + Simple Reversionary Bonus + final additional bonus (if any).

Before Commencement of Risk : If the  Insured person dies within the Policy Term before the commencement of Risk, then Single Premium that he paid excluding taxes and extra premium if any, without interest will be given to the Nominee of the Policy.

Read Also This –  LIC New Plan 917 launched single premium payment Only

Single Premium LIC Policy 817 Rebates

Sum Assured Rebate
Rs. 50,000/- to Rs. 95,000/- NIL
Rs. 1,00,000/- to Rs. 1,95,000/- 18.00 % Basic Sum Assured
Rs. 2,00,000/- to Rs. 2,95,000/- 25.00 % Basic Sum Assured
Rs. 3,00,000/- and above 30.00 % Basic Sum Assured

LIC Single Premium Endowment (817) Plan wiht an Example

An example of suresh is purchasing this Plan with following details.

Sum Assured Rs.8,00,000
Policy Term 25 Years
Policy Purchase Year 2016
Age 25 Years
Single Premium Rs. 362688/-

Maturity Details

If policy holder suresh survives the policy term 25 years then Maturity will be as under.

Maturity Year Maturity Age Maturity Amount(approx)
2041 50 21,80,000/-

Year-wise Death Claims

Year Age Risk Cover Normal Premium Amount Received
2016 25 840800 362688 0
2017 26 881600 0 0
2018 27 922400 0 0
2019 28 963200 0 0
2020 29 1004000 0 0
2021 30 1044800 0 0
2022 31 1085600 0 0
2023 32 1126400 0 0
2024 33 1167200 0 0
2025 34 1208000 0 0
2026 35 1248800 0 0
2027 36 1289600 0 0
2028 37 1330400 0 0
2029 38 1371200 0 0
2030 39 1428000 0 0
2031 40 1472800 0 0
2032 41 1517600 0 0
2033 42 1562400 0 0
2034 43 1615200 0 0
2035 44 1672000 0 0
2036 45 1736800 0 0
2037 46 1817600 0 0
2038 47 1938400 0 0
2039 48 2059200 0 0
2040 49 2180000 0 0
2041 50 0 0 2180000




Additional Information

Risk Coverage: Till end of Term of the Policy.

Date of Commencement of Risk: In case of children whose age is less than 8 years risk commencement  starts  either from 2 years of taking the policy or 8 years old which is earlier.

Locking period : 1 years.

Loan Facility: Loan facilities is available after one year under this policy.

Income Tax Deduction: Available under Section 80C for premiums paid only.

Riders available: No.

Suicide Clause: If insured commit suicide before 1 year he will be returned back 80% of premium what he paid.

Proposal Forms: Proposal Form no. 300, 340 and 360 will be used under this plan.

Cooling-off Period: If a policyholder is not satisfied with the ‘Terms and Conditions” of the policy, he/she may return the policy within 15 days from the date of receipt of the policy.

Backdating interest: The policies can be back date within the same financial year.

Assignments/Nominations: Assignment and nominations is possible under this plan.

Services that I offer

  • New LIC Policy Quotes and Completion
  • Complete guidance
  • Doorstep Premium Collection Service
  • Personalized Policy Recommendations
  • Renewal / Revival of Lapsed Policies
  • Human Life Value Calculation
  • Life Time Services

FOR MORE INFORMATION PLEASE CONTACT -:

BASPA NAND PANCHOLI

Call 9891009400

Emailbasupancholi@gmail.com

Office Address:- 25,KG,Marg, Jeevan Prakash Building.

LIC of India,Branch Unit-117

3rd floor,C.P. New Delhi-110001

OTHER SINGLE PREMIUM PLAN

LIC Jeevan Shikhar Plan

LIC Single Premium Endowment

LIC New Bima Bachat


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