LIC Limited Premium Endowment

LIC Limited Premium Endowment Policy 830

LIC Limited Premium Endowment  (LIC TABLE NO 830) is a traditional plan which means not a market based. This policy provides risk cover and Returns both.This plan has an option of Limited Period premium payment. Limited Premium Endowment Policy will be declared Bonus every year.

LIC Limited Premium Endowment 830
LIC Limited Premium Endowment 830

Limited Premium Endowment is also a Conventional Endowment Plan which means it is a combination of saving and insurance coverage policy. Customers are provided to choose optional term of the policy like 12, 16 and 21 years and premium paying term like 8 or 9 years only.


Minimum age at Entry – 18 years (Completed).

Maximum age at Entry

Term of the PolicyPremium Payment Term 8 Years     Premium Payment Term 9 Years
12Max. age is 57 yearsMax. age is 62 years
16Max. age is 59 yearsMax. age is 59 years
21Max. age is 54 yearsMax. age is 54 years
Policy Term12, 16, 21 years.
Premium Payment Term8, 9 years.
Min. Sum AssuredRs. 3,00,000.
Max. Sum AssuredNo Limit.
Premium payment modeSSS, ECS, Quarterly, Half Yearly and Yearly.
Max. Accident Death Benefit1 Crore.

LIC Limited Endowment Plan Rebates

There are 2 rebates in this policy one is Mode Rebate and another is Sum Assured Rebate given below.

Mode Rebate:

Premium Payment ModePercentage
Yearly Mode2% of Tabular Premium
Half yearly Mode1% of Tabular Premium
Quarterly and MonthlyNil

High Sum Assured Rebate: High Sum assured Rebate Based on Sum assured as under.

Basic Sum Assured (BSA) or Policy ValueRebate per Rs. 1000 /- Sum Assured
3,00,000 to 4,90,000NIL
5,00,000 to 9,90,0000.50 %of B.S.A
10,00,000 and Above0.75% of B.S.A

LIC Limited Premium Endowment Policy Maturity  Benefits

LIC Bima Plan 830  provides two types of benefits. One is Maturity Benefit and other is Death Benefit.

Maturity Benefit: Sum assured + Bonus + Final Additional Bonus.

LIC Limited Premium Endowment Plan Death Benefits

Death Benefit:Sum assured on death+ Bonus + Final Additional Bonus(FAB) if any.

“Sum assured on Death” Means higher amount among 10 times of yearly premium and 125 % of sum assured.

LIC Limited Period Endowment Policy Surrender Value

If policy surrendered with-in first 2 years from the date of purchasing the policy then person will not get anything even paid premium also not given back. After 2 years Policy can be surrender the policy.

After 2 years, if premium is not paid then policy becomes reduced paid up means policy value will be changed based on premium paid till that time. No Bonus will be added. But policy will not become inactive fully. Sum assured on death becomes reduced paid up sum assured amount and maturity sum assured becomes reduced paid up sum assured.

Riders Available

LIC of India Accidental Death and Disability Benefit Rider.

LIC New Term Assurance Rider.

LIC Limited Premium Endowment Policy Loan Facility

Loan is available in this policy.

Minimum 2 years premium should be paid to get eligible for taking loan.

Maximum Loan amount granted will be,

90% for in force policy

80% for paid up policy

Benefit Example for LIC plan 830

An example of VINOD who is purchasing this Plan with following details.
Sum Assured: Rs. 600000
Premium Paying term: 9 Years
Policy Term: 21 Years
Policy Purchase Year: 2016
Age: 25 Years
Premium: Rs. 44709(Yearly)

Maturity Details

Maturity YearMaturity AgeMaturity Amount

For each year during the term of policy, LIC declares Bonus (Per Thousand of Sum Assured) for that particular year. This policy is also eligible for Final Addition bonus after certain number of years. As the policy term progresses, these benefits in the form of Bonuses keep accumulating and at the time of maturity, policy holder gets lump sum amount i.e. Sum Assured + Bonus. In case of death during the policy term, nominee gets sum assured + bonus accumulated up to that period. Year-wise and Age-wise benefits in case of death is mention below.

YearAgeRisk Cover NormalRisk Cover AccidentalPremiumTax SavedNet PremiumAmount Received

Additional Information

Above example illustrates that premium paying stops after 9 years and maturity receives after completion of 12th year. This example also includes double accidental benefit which gives the nominee an extra amount equal to sum assured in case of accidental death.

Revival: Policy should be revived before 2 years from last unpaid premium.

Loan Facility: Loan Facilities are available.

Riders Facility: Available.

Suicide Clause: If Policy Holder Committed Suicide within 12 month from date of taking the policy 80% of paid premium will be returned back. If committed suicide after 12 month. Full Sum assured + Bonus will be paid to the nominee.

Cooling off Period: Policy holder can return back policy within 15 days from date of receiving the policy.

Date Backing Facility: Possible.

Proposal Form : Form No 300 only.

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




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

LIC of India,Branch Unit-117.

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


LIC New Endowment

LIC New Jeevan Anand

LIC Jeevan Lakshya

LIC New Jeevan Labh Endowment

LIC Jeevan Pragati

LIC’s Jeevan Rakshak Plan Table no 827


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