Contents
- 1 Lic Single Premium Endowment Plan 817 Review
- 2 Key Features of Lic Single Premium Endowment Plan
- 3 Lic Single Premium Endowment Plan 817 Conditions
- 4 Lic Single Premium Endowment Policy Rebates
- 5 Lic Single Premium Endowment Benefits
- 6 Additional Information about Lic Single Premium Endowment Policy
- 7 Lic Single Premium Endowment Policy Example
- 8 Related Lic Endowment Plans
Lic Single Premium Endowment Plan 817 Review
Lic Single Premium Endowment Plan 817 was introduced on 1st January 2014. Lic Single Premium Endowment Policy is an endowment policy where sum assured along with Bonus and Final additional bonus will be paid to the policyholder, at the end of the policy term. Sum Assured will be paid to the nominee in case of death of the policyholder, during the policy year. In this Lic Single Premium Endowment Plan 817, premium needs to be paid by the policyholder, as a lump sum just once at the start of the policy.
Information about Lic Single Premium Endowment Policy benefits, conditions, etc. are given below. Here, you can also calculate the Premiums and all benefits using Lic Single Premium Endowment Plan Calculator.
Key Features of Lic Single Premium Endowment Plan
- Single premium endowment policy with profit plan.
- Policy can be taken as early as at 90 days of age.
- On maturity, policyholder will get sum assured along with bonus and Final Additional bonus.
- You can opt for Accident Benefit Rider and Critical Illness Rider by paying small amount along with the Premium.
- High Bonus, High liquidity and saving point.
Lic Single Premium Endowment Plan 817 Conditions
| Entry age: |
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| Maturity age: |
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| Policy term: |
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| Premium Payment mode: |
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| Sum Assured: |
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Lic Single Premium Endowment Policy Rebates
Sum Assured Rebate:
| Sum Assured | Rebate |
| Rs. 50,000/- to Rs. 95,000/- | NIL |
| Rs. 1,00,000/- to Rs. 1,95,000/- | 18.00 % Basic Sum Assured |
| Rs. 2,00,000/- to Rs. 2,95,000/- | 25.00 % Basic Sum Assured |
| Rs. 3,00,000/- and above | 30.00 % Basic Sum Assured |
Lic Single Premium Endowment Benefits
Maturity Benefits:
On survival of the Life Assured to the end of policy term,
Maturity benefit = Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.
Death Benefits:
On death of the Life Assured on or after the commencement of risk during the policy term,
Death Benefit = Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.
On death of the Life Assured before the commencement of risk during the policy term,
Death Benefit = Return of single premium – service tax and extra premium, if any, without interest.
Example:
Suppose if Raju of age 3 years taken Lic Single Premium Endowment plan for Sum Assured of Rs. 20,00,000/- and for policy term of 20 years then, if he dies in the age of 4 then he will be paid back by the amount 20,00,000 – taxes – any riders he opted or other charges.
Additional Information about Lic Single Premium Endowment Policy
Date of Commencement of risk:
In case the entry age of Life Assured is less than 8 years, risk will commence either 2 years from the date of commencement or from the policy anniversary coinciding with or immediately following the attainment of 8 years of age, whichever is earlier. For those aged 8 years or more, risk will commence immediately.
Surrender Value:
Single Premium Endowment Lic policy can be surrendered at any time during the policy term.
Guaranteed Surrender Value (GSV):
- First year: 70% of the Single premium – service tax and extra premium, if any
- Thereafter: 90% of the Single premium – service tax and extra premium, if any.
In addition, the surrender value of vested Simple Reversionary Bonuses, if any shall also be payable.
Special surrender value (SSV):
Special surrender Value is the discounted value of sum assured and vested simple reversionary bonuses.
Loan:
Loan facility is available under Single Premium Endowment Lic plan.
Suicide clause:
If the life assured commits suicide before 12 months from the date of commencement of risk, he/she will be returned back with 90% of single premium paid excluding any taxes and extra premium, if any.
Taxes:
Taxes, if any, shall be as per the Tax laws and the rate of tax as applicable from time to time.
Cooling-Off Period:
If the policyholder is not satisfied with the “Terms and Conditions” of the Lic Single Premium Endowment policy, the policy may be returned to the company within 15 days from the date of receipt of the policy stating the reason of objections.
Backdating Interest:
The policies can be dated back with in the same financial year.
Policy Stamping:
Under Lic Single Premium Endowment Policy plan 817, stamping charges will be 20 paise per thousand sum assured.
Assignments/Nominations:
Assignments and Nominations is possible under this Lic Single Premium Endowment plan no 817.
Lic Single Premium Endowment Policy Example
Suppose if Raju of age 25 years has opted for Lic Single Premium Endowment plan for Sum Assured of Rs. 25,00,000/- and for policy term of 15 years then,
the first year premium will be as shown below,
| First year Premium | |||
| Single premium | without tax | Tax | With Tax |
| 1529750 | 47269 | 1577019 | |
Maturity benefit will be, Rs. 3,975,000/-.
For more details please refer below given official link,
Click here for LIC Single Premium Endowment Plan
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what will be premium for Rs.2,00,000/- sum assumed by DOB is 12-05-1964 under single premium endowment 817
what will be premium for Rs.2,00,000/- sum assumed, my DOB is 12-05-1964 under single premium endowment 817
i will give you plan details and amount of premium so text me your number my number is +91 9712375704
kindly suggest the best policy for my daughter(married)- 37 y age. For 10-20 year plan. I am a retired – 67 y age.
Please also guide for best policy for her 8 y son.
Thanks.
i will give you plan details and amount of premium so text me your number my number is +91 9712375704
what will be premium for sum insured RS 2 lak for my son &daughter DOB.04./06/1989
17/01/1992 &17/12/1996 under single premium end Tab 817 pls reply
I want to know what ll b the premium for 2,00,000 lacs for 10yrs term under single premium endowment plan, my age is 30.
what will be premium for Rs.20,00000/- sum assumed my Daughter DOB is 09-20-2004 under single premium endowment 817
My daughter 2 years old I want to invest single premium about 500000 rupees for 23 years in table no 817 new endowment. How much maturity will be after 23 years
Kindly suggest the best policy for me, my age is 30 year , for 10-20 year plan.
Please also guide for best policy for her 6 y son
can I surrender the policy within one year from the date of purchasing. mean same year
what will be premium Rs.2,00,000/- sum assured for policy term of 20 years , my DOB is 11-01-1964 under single premium endowment 817.
Please Reply
13/01/1974 witch single plan good for me?2016
lic premium for 100000 what amount will get after 10years my DOB is16/02/1955
pse intimate to surrender value in r/o my single premium policy no.513895574 on due date
Dear Sir,
I’m planning to pay single premium upto 100000 lakh. What are the final benefits amount after 16 years. Under table plan 817. my dob 25.12.1980
what will be maturity amount after 16 years
Please let me know the details
Sir, My grand daughter born on 18/01/2016.I want pic policy single premium of Rs 100000/_for 20 years period.what will be approx. maturity value
My daughter born 24/3/1992 If invested in this policy Rs.200000. for 10 year or 15 then let me know what benefit she will get I pay only one time
PLEASE SUGGEST ME ONE TIME PREMIUM POLICY FOR 21 YR.OLD WHO EARN 5000P.M AND WHOOSE FATHER IS NO MORE
PL SUGGEST ONE TIME PREMIUM POLICY 21YR OLD FATHER IS NO MORE
My age is 36 years now. if i take 100,000 single premium policy. for 15 years plan so what would be sum assure and after 15 years what i will get amount. if i died then what would be my family get?
My age is 36 years now. if i take 100,000 single premium policy. for 15 years plan so what would be sum assure and after 15 years what i will get amount. if i died then what would be my family get? what r the benefit i get?
what will be premium to pay for 50,00,000/- sum assured. My DOB is 28-04-1954 under single premium endowment plan for Table 817.or any other plan.
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