LIC

LIC’s Single Premium Endowment Plan

Popular Saving Plan Popular Saving Plan

Combines protection + savings with lump sum payout at maturity or death benefit during the term.

The essentials

Your plan at a glance

Min. sum assured
100000
Policy term
25 Years
Entry age
30 Days to 65 Years
Premium payment
Single Premium

Plan Overview

LIC’s Single Premium Endowment Plan is a Par, Non-Linked, Individual Savings Life Insurance Plan that combines life protection with long-term savings. With a single one-time premium, the policy provides financial protection during the policy term and an opportunity to participate in LIC’s profits through bonuses, if declared.

Life Protection
Single Premium
Bonus Participation
Flexible Policy Term

Features & Benefits

Protection + Savings
Combines life insurance protection with long-term savings in one plan.
One-Time Premium
The entire premium is paid at the beginning of the policy, with no recurring premium payments.
Participation in Profits
The policy participates in LIC’s profits and may receive Simple Reversionary Bonuses and Final Additional Bonus, as declared.
Settlement Option
Maturity and death benefits can be received in instalments over 5, 10 or 15 years, subject to applicable conditions.

Coverage Details

Parameter Details
Plan Type Par, Non-Linked, Individual Savings Life Insurance Plan
Plan Number 717
Maturity Benefit Basic Sum Assured + applicable vested bonuses and Final Additional Bonus, if any
Bonus Eligibility Simple Reversionary Bonus and Final Additional Bonus, if declared
Premium Payment Modes Single payment only
Minimum Basic Sum Assured 1,00,000
Maximum Basic Sum Assured No limit, subject to LIC conditions

Eligibility Criteria

Minimum Entry Age 30 days (completed)
Maximum Entry Age 65 years (nearer birthday)
Minimum Age at Maturity 18 years (completed)
Maximum Age at Maturity 75 years (nearer birthday)
Minimum Policy Term 10 years
Maximum Policy Term 25 years

Required Documents

Identity Proof
AADHAAR CARD
Address Proof
VOTER ID
Financial Documents
INCOME CERTIFICATE, PAN CARD, BANK PASSBOOK
Other Documents
PASSPORT SIZE PHOTO, BIRTH CERTIFICATE

Frequently Asked Questions

It is a participating, non-linked life insurance savings plan that provides life cover and maturity benefits through a single premium payment.

Individuals who meet LIC's prescribed age, policy term and underwriting requirements can apply.

The plan requires a single premium payment at the time of purchasing the policy.

If the life assured survives until maturity, the policyholder receives the Basic Sum Assured along with applicable bonuses, if any.

A loan facility may be available after the policy acquires the required surrender value, subject to LIC's conditions.

The minimum policy term is 10 years.
The maximum policy term is 25 years.
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