Tuesday 31 December 2013

HIGH LIGHTS OF NEW PLAN (PLAN NO.817)

Tuesday, 31 December 2013

LIC’s Single Premium Endowment Plan(Plan No. 817 UIN 512N283V01)

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


Maturity Benefit

Sum Assured Plus

Simple Reversionary Bonuses Plus
Final Additional Bonus, if any.


Death  Benefit

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.


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).


Some Examples of Loan as a  percentage of Surrender Value are given below -

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%


Eligibility Conditions and Restrictions

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

Basic Sum
Assured
Single Premium only




50000 and above ( In multiples of 5000)
– No upper Limit



Rebate for High Sum Assured


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


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


Why

LIC’s  SINGLE  PREMIUM  ENDOWMENT  PLAN
                      
                                        

…………Because it is SPECIAL

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.


Thank You !
LIAFI
COIMBATORE DIVISIO
 
 
 
 

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