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LIC's Single Premium Endowment Plan is a non-linked, participating savings-cum-protection plan offered by Life Insurance Corporation of India. You will have to pay a lump sum amount in premium initially. This plan offers life cover during the policy term and a maturity benefit at the end of the policy term. You can also avail a loan against this plan to meet your urgent financial needs.
|Entry Age||Minimum 90 days to maximum 65 years|
|Maturity Age||18 to 75 years|
|Policy Term||10 to 25 years|
|Sum Assured||Minimum Rs.50,000 to maximum no limit|
|Premium Payment Mode||Single Premium|
Premiums may vary depending upon factors like age, location, term of the plan and prevailing GST.
The LIC's Single Premium Endowment Plan doesn't cover death by suicide of the life insured in the first policy year. In the case of death by suicide within 1 year from the date of commencement of risk, 90% of the single premium, excluding GST and extra premium, is payable.
Under the LIC's Single Premium Endowment Plan, you can get tax benefits on:
There are several other benefits of purchasing the savings-cum-protection plans from Life Insurance Corporation of India such as:
With LIC's Single Premium Endowment Plan, you can get life cover as well as maturity benefits. You can also avail a loan against this policy for liquidity. Life Insurance Corporation of India has been successfully operating for almost 6 decades in the insurance industry catering to over 250 million customers across India. From individual and group term insurance plans to health and pension plans, LIC offers a wide range of insurance solutions to meet the varying needs of its customers. It also won India's Most Trusted Brand 2015 and the Indian Insurance Award 2015.
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