LIC's Single Premium Endowment Plan is a non-linked savings cum insurance plan.Under this plan no. 817, the entire premium can be paid just once at the start of the policy. Lic Single Premium Endowment Policy plan no. 817 is an endowment policy where Sum assured along with Bonus and Final additional bonus will be paid to the policyholder, at the end of the policy term or policy period.
- Single Premium Policy with Profit plan.
- Minimum age at entry is 90 days.
- Large Sum Assured is available under this plan.
- Loan available after completion of one year.
- High Bonus, High Liquidity, and Saving point.
On survival of the Life Assured to the end of policy term,
Maturity benefit = Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.
- On death during the policy term before the date of commencement of risk:
If the insured dies before the date of commencement of risk, the single premium shall be refunded without interest, Service tax and extra premium will be excluded.
2. On death during the policy term after the date of commencement of risk:
If the policyholder dies after the date of commencement of risk, the Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any shall be payable.