LIC Single Premium Endowment Plan No. 917

Single Premium Endowment Plan | Plan No. 917 is a single premium, non-linked, with profits Endowment Plan

Single Premium Endowment Plan No. 917 Features & Conditions:

Eligibility

Minimum age at entry: 90 days (Completed)

Maximum age at entry: 65 years (Nearer Birthday)

Minimum age at Maturity: 18 years (Completed)

Maximum age at Maturity: 75 years (Completed)

Minimum Term: 10 years

Maximum Term: 25 years

Minimum Sum Assured 50,000/-

Maximum Sum Assured: No limit

Available Riders:

LIC’s Accidental Death and Disability Benefit Rider and Term Rider for full Policy Term.

Mode of Payment:

Single Premium Payment (One time)

Policy Loan :

After one policy year.

Surrender:

First Year: 75% of Single premium.

2nd Year Onwards: 90% of SP + Surrender value of bonus

Income Tax Benefits:

On Basic Premium : U/s 80C up to 10% of Sum Assured

Maturity Amount : Taxable as per Income Tax rules

Death Claim : Exempt u/s 10 (10D) as per Income Tax rules

All Single Premium Endowment Plan | Plan No. 917 Details with example are available in Video. Please check the video given below.

DATE OF COMMENCEMENT OF RISK:

For age at entry less than 8 years: One day before completion of 2 years from Date of Commencement (DOC) or one day before Policy Anniversary after completion of the age of 8 years, whichever is earlier.

For age at entry 8 years (Last Birthday) or more: Risk will commence immediately.

SUM ASSURED ON DEATH: Basic Sum assured

DEATH BENEFIT:

Before Risk Commencement: Refund of Premiums paid Excluding GST

After Risk Commencement: Sum Assured on Death + Vested Bonus + Final Additional Bonus(FAB) if any.

MATURITY BENEFIT:

Basic Sum Assured + Vested Bonus + Final Additional Bonus(FAB) if any.

Maturity/Death Claim in Installments for 5/10/15 years for Full or Part of Maturity/Death Claim Amount: Option to be exercised – 3 months before Maturity and for Death Claim during lifetime by Life Assured.

Non-Medical Schemes: All Allowed, incl. Exclusive Single Premium NM Scheme.

Age Proofs: All Allowed.

Female Lives : All Allowed.