LIC Single Premium Endowment Plan

Features:

This plan is participating non linked saving cum protection plan where premium is paid in lump sum at the outset of the policy. This combination provides financial protection against death during the policy term with the provision of payment of lump sum 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.

 

Death Benefit

 

• On death during a 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 after the date of commencement of risk: (Sum Assured along with vested simple reversionary bonus & final additional bonus; if any)

Maturity Benefit

Sum Assured along with vested simple reversionary bonus and final additional bonus; if any, shall be payable to the policy holder.

 

The policy shall participate in profits of the Corporation and shall be entitled to receive  simple reversionary bonus declared as per the experience of the corporation. Final or Additional 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 conditions as may be  declared by the corporation from time to time

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