LIMITED PREMIUM ENDOWMENT PLAN
Lic’s limited premium endowment plan is non linked participating plan which offers you saving and protection at the time of death as well as at the time of maturity of the policy.
Min Basic Amount Assured: Rs 3,00,000
Max Basic Amount Assured: No Limit
Policy Time: 12 Years or 16, 21 years
Time of premium payment: 8,9 Years
Min Entry Age: 18 Years
Max Entry Age: 62 Years
Max Age at Maturity for Life Assured: 75 years
Premium Payment Mode: Monthly, Quarterly, Half-yearly, Yearly
The benefit of Accidental Death and Disability Rider is applicable on payment of additional premium.
LIC’S LIMITED PREMIUM ENDOWMENT PLAN BENEFITS
1 Survival Benefit: Basic Sum Assured + Vested Bonus +FAB if any
2 Death Benefit: Sum Assured + Vested Bonus + FAB if any
Sum Assured is higher of 10 times of Annualized Premium or 105% of all Premiums paid on death or 125% of basic sum assured
3 Surrendered Value Benefit: the Policyholder can surrender his policy at any time during his policy term but the condition is that two full years premium is paid.
4 Loan Benefit: After payment of premium for two full years than you can use loan facility.
5 Income Tax Benefit: Tax Rebate is available when you pay the premium under this plan section is 80c and under sec10(10D) maturity is free for this plan.