LIC's Limited Payment Endowment is limited premium endowment plan which means the premium as to be paid for a term which is lesser than the policy term.
LIC's Limited Payment Endowment is limited premium endowment plan which means the premium as to be paid for a term which is lesser than the policy term.
It is a non-linked life insurance plan which offers guaranteed returns in the form of Guaranteed Sum Assured and vested reversionary bonuses with Final Additional Bonus. Policy can be availed with duration of 12 years, 16 Years and 21 years and can be taken any person between the ages of 18 years to 62 years with premium payment term as 8 Years and 9 Years only. Minimum available sum assured is Rs. 300000 only.
It gives a lump sum amount at the end of term, to take care of important milestones in your life like retirement needs, children’s education, and children’s marriage. In case of unfortunate demise, family needs are taken care.
With a commitment of shorter premium term as 8 Years or 9 years, you can have insurance benefits over a Period of 12, 16 or 21 Years. You can restrict payment term.
Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.
By paying small extra premium amount, you can secure your life for high insurance protection on natural or accidental death by opting DAB and Term Rider.
Minimum Age at entry for Life Assured : 18 years Completed
Maximum Age at entry for Life Assured
| Maximum Age at entry | ||
|---|---|---|
| Term | PPT = 8 | PPT = 9 |
| (in Years) | Years | Years |
| 12 | 57 | 62 |
| 16 | 59 | 59 |
| 21 | 54 | 54 |
Policy Term: 12, 16, and 21 Years
Premium Paying Term (PPT): 8 and 9 years
Minimum Basic Sum Assured : ₹ 3,00,000/-
Maximum Sum Assured : No Limit
Mode of Payment : Yearly, Half-Yearly, Quarterly, and Monthly (ECS only through salary deductions)
Minimum Sum Assured : ₹ 10,000/-
Maximum Sum Assured : ₹ 100 Lakh not exceed to the basic sum assured
Minimum Entry Age : 18 years completed
Maximum Entry Age : not exceed 65 years (nearest birthday).
Maximum Maturity Age : 69 years (nearest birthday) for 12 year Term and 8 year PPT & 70 years (nearest birthday) in all other cases The Accident Benefit Sum Assured shall be in multiples of ₹ 10,000 only.
Minimum Age at entry for Life Assured : 18 years Completed
Maximum Age at entry for Life Assured
| Maximum Age at entry | ||
|---|---|---|
| Term | PPT = 8 | PPT = 9 |
| (in Years) | Years | Years |
| 12 | 57 | 60 |
| 16 | 59 | 59 |
| 21 | 54 | 54 |
Minimum Basic Sum Assured : ₹ 1,00,000/-
Maximum Sum Assured : ₹ 25 Lakh not exceed to the basic sum assured
Term Assurance Rider Sum Assured can be taken in multiples of ₹ 10,000/- only
