Showing posts with label Single Premium Endowment Plan. Show all posts
Showing posts with label Single Premium Endowment Plan. Show all posts

Eligibility condition and Benefits of plan 817 Single Premium Endowment Plan

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Eligibility condition and Benefits of Single Premium Endowment Plan 817 

Maturity benefit: Sum assured Simple reversionary bonuses Final additional bonus, if any.

Death benefit:
After commencement of risk - Sum assured plus vested simple reversionary bonuses and final additional bonus, if any.
Before commencement of risk- In case the age at entry of life assured is less than 8 years, risk will commence either 2 years from the doc or policy anniversary after completion of 8 years of age whichever is earlier, for others risk shall commence immediately. -

Eligibility conditions and restrictions:
Age at entry 90 days (completed) to 65 years (nearest birthday)
Age at maturity 18 to 75 years
Policy term 10 to 25 years
Premium mode Single premium only
Basic Sum Assured 50000 and above ( in multiples of 5000) – no upper limit

Calculate premium for Single premium endowment plan

Why single premium endowment plan you should take?

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Why single premium endowment plan you should take?

Lic’s New single premium endowment plan ( Table Number 817)

Benefits of single premium endowment plan

  1. Single premium – one time investment.
  2. Protection -risk cover# for full sum assured.
  3. excellent for meeting educational needs of young ones.
  4. Children from the age of 90 days can be covered.
  5. Ideal for investment planning-wide range of policy term.
  6. Attractive – participates in profits.
  7. Liquidity through loan.

Single Premium Endowment Plan Table No. 817

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Lic’s new single premium endowment plan – Table no – 817

Single Premium Endowment Plan Highlights

  1. Single premium
  2. With profit endowment plan
  3. Minimum age at entry is 90 days
  4. Loan available after completion of one year
  5. Back dating is allowed

Maturity benefit

  1. Sum assured
  2. Simple reversionary bonuses
  3. Final additional bonus, if any.

Death benefit

  1. After commencement of risk – Sum assured plus vested simple reversionary bonuses and final additional bonus, if any.
  2. Before commencement of risk# – Return of single premium excluding taxes and extra premiums, if any.

# in case the age at entry of life assured is less than 8 years, risk will commence either 2 years from the doc or policy anniversary after completion of 8 years of age whichever is earlier, for others risk shall commence immediately.

Loan on single premium endowment plan

  1. Available after completion of 1 policy year.
  2. Amount of loan will depend on year of policy and policy term.
  3. The maximum loan shall be granted as a percentage of surrender value (sv).

Eligibility conditions and restrictions:

Particulars
Description
Age at entry90 days (completed) to 65 years (nearest birthday)
age at maturity18 to 75 years
Policy
term
10 to 25 years
Premium modeSingle premium only
basic sum
assured
50000 and above ( in multiples of 5000)
– no upper limit

Calculate Premium / Check out the premium for Single Premium Endowment Plan

Surrender ValueHigher of guaranteed surrender value or special value shall be payable.the policy can be surrendered at any time during the policy term.

Guaranteed surrender value (GSV): 1st year ~ 70% of single premium excluding taxes and extra premium, if any. Thereafter ~ 90% of single premium excluding taxes and extra premium, if any. plus surrender value of vested bonuses.

Special surrender value (SSV): Discounted value of sum assured and vested simple reversionary bonuses

Surrender value factors applicable to Vested bonuses

Why should I take single premium endowment plan – Table No 817

S~ Single premium – One time investment.
P~Protection – Risk cover for full sum assured.
E~ Excellent for meeting educational needs of young ones.
C~ Children from the age of 90 days can be covered.
I~ Ideal for investment planning-wide range of policy term.
A~ Attractive – Participates in profits.
L~ Liquidity through loan.

LIC launches New Single Premium Endowment Plan - Table No. 817

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LIC launches New Single Premium Endowment Plan - Table No. 817

Lic’s New single premium endowment plan (Table No 817)

About the plan:
  1. Single premium
  2. With profit endowment plan
  3. Minimum age at entry is 90 days
  4. Loan available after completion of one year
  5. Back dating is allowed
Maturity benefit:

  1. Sum assured
  2. Simple reversionary bonuses
  3. Final additional bonus, if any.

Death benefit:
After commencement of risk
Before commencement of risk#
Sum assured plus vested simple  reversionary bonuses and final additional bonus, if any. Return of single premium excluding taxes and extra premiums, if any.
# in case the age at entry of life assured is less than 8 years, risk will commence either 2 years from the doc or policy anniversary after completion of 8 years of age whichever is earlier,for others risk shall commence immediately.

Loan
  1. Available after completion of 1 policy year.
  2. Amount of loan will depend on year of policy and policy term
  3. The maximum loan shall be granted as a percentage of surrender value(sv).
Examples of loan as a percentage of surrender value are given below-
Policy year→
Term↓
2
3
6
9
12
13 and above
Upto15 yrs
55%
60%
80%
90%
90%
90%
16 to 20 yrs
40%
45%
60%
80%
90%
90%
21 yrs and above
30%
30%
45%
60%
80%
90%

Eligibility conditions and restrictions:
Particulars
Description
Age at entry 90 days (completed) to 65 years (nearest birthday)
age at maturity 18 to 75 years
Policy
term
10 to 25 years
Premium mode Single premium only


basic sum
assured
50000 and above ( in multiples of 5000)
– no upper limit

Surrender Value:
Higher of guaranteed surrender value or special value shall be payable.the policy can be surrendered at any time during the policy term.

Guaranteed surrender value(gsv):
1st year ~ 70% of single premium excluding taxes and extra premium, if any.
Thereafter ~ 90% of single premium excluding taxes and extra premium, if any.
plus surrender value of vested bonuses.

Special surrender value (ssv):
Discounted value of sum assured and vested simple reversionary bonuses

Why lic’s single premium endowment plan Table No 817
S~single premium -one time investment.
P~protection -risk cover#for full sum assured.
E~excellent for meeting educational needs of young ones.
C~children from the age of 90 days can be covered.
I~ideal for investment planning-wide range of policy term.
A~attractive - participates in profits.
L~liquidity through loan.

Single Premium Endowment Plan (Table No 817)

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Know more about LIC’s  New Single Premium Endowment Plan (Table No 817).

Single Premium Endowment Plan (Table No 817)

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