This document summarizes LIC's Single Premium Endowment Plan. The plan is a single premium endowment plan with profit that provides a death benefit equal to the sum assured plus bonuses. A maturity benefit equal to the sum assured plus bonuses is provided. Loans are available after one year up to a percentage of the surrender value. The plan has flexible options for ages, premium amounts, policy terms, and surrenders values. It is designed to provide protection, investment for children's education, and participation in profits.
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LIC's New Jeevan Anand Plan, a participating non-linked plan that offers attractive combination of protection and savings. All you need to know about LIC New Jeevan Anand Plan (Table no 815).
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LIC's New Endowment Plan is a participating non-linked plan which offers an attractive combination of protection and saving features. This combination provides financial support for the family of the deceased policyholder any time before maturity and good lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.
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LIC’s New Jeevan Nidhi Plan is a conventional with profits pension plan with a combination of protection and saving features. This plan provides for death cover during the deferment period and offers annuity on survival to the date of vesting.
LIC's New Bima Bachat is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy. It is a money-back plan which provides financial protection against death during the policy term with the provision of payment of survival benefits at specified durations during the policy term. In addition, on maturity, the single premium shall be returned along with Loyalty Addition, if any. This plan also takes care of liquidity needs through its loan facility.
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LIC's New Endowment Plan is a participating non-linked plan which offers an attractive combination of protection and saving features. This combination provides financial support for the family of the deceased policyholder any time before maturity and good lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.
LIC's New Jeevan Anand Plan is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.
LIC’s New Jeevan Nidhi Plan is a conventional with profits pension plan with a combination of protection and saving features. This plan provides for death cover during the deferment period and offers annuity on survival to the date of vesting.
LIC's New Bima Bachat is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy. It is a money-back plan which provides financial protection against death during the policy term with the provision of payment of survival benefits at specified durations during the policy term. In addition, on maturity, the single premium shall be returned along with Loyalty Addition, if any. This plan also takes care of liquidity needs through its loan facility.
LIC's Jeevan Shagun is a participating, non-linked, savings cum protection single premium plan wherein the risk cover is a multiple of single premium.
The proposer will have an option to choose the Maturity Sum Assured. The single premium payable (exclusive of service tax) shall depend on the chosen amount of Maturity Sum Assured and age of the life assured.
A percentage of Maturity Sum Assured shall be payable on surviving to the end of the specified durations and on maturity. This plan also takes care of liquidity need through its loan facility. The plan will be open for sale for a maximum period of 90 days from the date of launch.
LIC's Single Premium Endowment Plan is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy. This combination provides financial protection against death during the policy term with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.
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Bajaj Allianz Invest Assure is a plan that gives you assured protection with financial benefits It takes only a moment to make promises and a lifetime to keep them. When you promise to see your family through thick and thin, you need to make sure that you have planned for all the eventualities that may befall on them.
LIC's New Money Back Plan-25 years is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.
2. LIC’s SINGLE PREMIUM ENDOWMENT
PLAN –
Highlights
Single Premium
With Profit Endowment Plan
Minimum Age at entry is 90 days
Loan available after completion of one year
Back dating is allowed
3. Death Benefit
Maturity Benefit
Sum Assured Plus
Simple Reversionary Bonuses Plus
Final Additional
Bonus, if any.
After Commencement of Risk
Before Commencement of
Risk#
Sum Assured plus vested Simple
Reversionary bonuses and final
additional bonus, if any.
Return of Single Premium
excluding taxes and extra
premiums, if any.
# In case the age at entry of Life Assured is less than 8 years, risk will
commence either 2 years from the DOC OR policy anniversary after
completion of 8 years of age whichever is earlier, for others risk shall
commence immediately.
LIC’s SINGLE PREMIUM ENDOWMENT
PLAN
4. Loan
Available after completion of 1 policy year.
Amount of loan will depend on year of Policy and Policy Term.
The maximum loan shall be granted as a percentage of
Surrender Value(SV).
Policy Year →
Term ↓
2 3 6 9 12
13 and
above
Upto 15 yrs 55% 60% 80% 90% 90% 90%
16 to 20 yrs 40% 45% 60% 80% 90% 90%
21 yrs and
above
30% 30% 45% 60% 80% 90%
Some Examples of Loan as a percentage of Surrender Value are given below -
LIC’s SINGLE PREMIUM ENDOWMENT
PLAN
5. Particulars Description
Age at entry
90 days (completed) to 65 years (nearest
birthday)
Age at Maturity 18 to 75 years
Policy Term 10 to 25 years
Premium mode Single Premium only
Basic Sum
Assured
50000 and above ( In multiples of 5000) –
No upper Limit.
Sum
Assured
3,00,000 and
above
2,00,000
to
2,95,000
1,00,000 to
1,95,000
50,000
to
95,000
Rebate (Rs.) 30‰ SA 25‰SA 18‰SA Nil
Rebate for High Sum Assured
Eligibility Conditions and Restrictions
LIC’s SINGLE PREMIUM ENDOWMENT
PLAN
6. The policy can be surrendered at any time during the policy term.
Higher of Guaranteed Surrender Value or Special Value shall be
payable.
Guaranteed Surrender Value(GSV):
1st
Year ~ 70% of Single Premium excluding taxes and extra premium,
if any.
Thereafter ~ 90% of Single Premium excluding taxes and extra
premium, if any.
Plus Surrender Value of vested bonuses.
Special Surrender Value (SSV):
Discounted value of Sum Assured and vested simple reversionary
bonuses
LIC’s SINGLE PREMIUM ENDOWMENT
PLAN
7. S~ Single Premium -One time investment.
P~ Protection -Risk Cover#
for full Sum Assured.
E~ Excellent for meeting educational needs of young ones.
C~ Children from the age of 90 days can be covered.
I~ Ideal for investment planning-Wide range of policy term.
A~ Attractive - participates in profits.
L~ Liquidity through Loan.
Why
LIC’s SINGLE PREMIUM ENDOWMENT PLAN
…………Because it
is SPECIAL