LIC's Single Premium Endowment Plan is a participating non-linked savings 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 lumpsum at the end of the selected policy term in case of his/her survival.
Income Tax Benefit
Premium paid under this plan is eligible for TAX rebate under section 80c up to 10% of Sum Assured.
Basic Sum Assured + Vested Bonus + FAB if any.
Upon death after commencement of risk Sum Assured + Vested Bonus + FAB if any.
Upon death before commencement of risk Return of Single Premium excluding taxes and Extra Premium.
Policy Term 10 to 25 Years
Minimum Basic Sum Assured Rs. 50,000/-
Maximum Basic Sum Assured No Limit
Minimum Policy Term 10 years
Maximum Policy Term 25 years
Premium Paying Term Single Premium
Minimum Entry Age 90 Days (completed)
Maximum Entry Age 65 years (nearest birthday)
Maximum Age at Maturity for Life Assured 75 years
Mode of Premium Payment Single Premium