Limited Premium Endowment (830)

Limited Premium Endowment Plan (830) – LIC of India Advisor

LIC’s Limited Premium Endowment Plan is a participating non-linked plan which offers a combination of protection and savings.

lic Limited Premium Endowment

• Policy Term: 12 year or 16 years or 21 year

• Premium Paying Term: 8 year or 9 year

• Minimum Basic Sum Assured: Rs. 3,00,000/-

• Maximum Basic Sum Assured: No Limit

• Maximum Entry Age: 62 years (nearer birthday)

• Maximum Age at Maturity for Life Assured: 75 years

• Minimum Entry Age: 18 years (completed)

• Accidental Death & Disability Benefit Rider is available on payment of additional premium.

• Mode of Premium Payment: Yearly, half-yearly, quarterly & monthly

Benefits:

• Surrendered Value: The Policy can be surrendered at any time during the policy term provided at least 2 full years premiums have been paid.

• On Death: Sum Assured + Vested Bonus + FAB if any.

• On Survival: On survival Basic Sum Assured + Vested Bonus + FAB if any.

• Where ‘S.A. on Death’ is defined as the higher of

i. 10 times of Annualised Premium, OR

ii. 105%of all Premiums paid on death OR

iii. 125%of Basic Sum-Assured.

• Loan: Loan Facility is available under this plan, after payment of premiums for at least 2 full years.

• Maturity under this plan is free under sec 10(10D).

• Income Tax Benefit: Premium paid under this plan is eligible for TAX rebate under section 80c.

source: licindia, licallinonecalc

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