Single Payment Endowment
LIC’s Single Payment Endowment plan combines Protection, Savings, and Life Cover.
- This plan provides a guaranteed risk cover of 125% of the Sum Assured from Day 1, which increases every year with the yearly bonus declared by LIC.
- Upon maturity, you will receive the Sum Assured along with yearly bonuses and a final bonus.
- This plan offers optional features such as Accidental Life cover and Disability Benefit.
- Policyholders have the flexibility to receive the maturity proceeds in installments, choosing a duration of 5, 10, or 15 years.
- Similarly, the policyholder can opt for death benefits to be paid in installments.
- LIC provides premium discounts for policies with a high Sum Assured.
- After the completion of 1 year of the policy, the policyholder becomes eligible for a loan.
| Eligibility Criteria | ||
| Minimum | Maximum | |
| Age | 90 Days | 65 Years (Near Birthday) |
| Policy Term | 10 Years | 25 Years |
| Premium Payment Term | 10 Years | 25 Years |
| Basic Sum Assured | Rs.50,000 | No Limit |
| Maximum Maturity Age | 18 Years Completed | 75 Years (Near Birthday |