• • • This LIC single premium policy requires a lump sum payment of the premium at the beginning of the period.
    • This LIC one-time investment plan offers profits while also providing insurance against untimely death.
      The age range for this coverage is from 90 days to 65 years.
    • The entire sum assured, along with earned bonuses, would be paid upon survival through the policy tenure or upon earlier death, and the policy would expire.
    • This insurance shares in the LIC’s profits and offers a straightforward reversionary bonus and a final additional bonus if any of the sums insured start at less than Rs. 50,000 and have no maximum.
      
      
    • The minimum sum assured will be in multiples of Rs. 5,000 for any additional sum assured.
      This LIC single premium endowment insurance has an entry age minimum of 90 days and an entry age maximum of 65 years. If the insured is under the age of eight, the risk coverage under this plan will begin no later than two years from the policy’s beginning, or on the policy anniversary that falls on or immediately after the insured’s eighth birthday.

• Maturity Benefit: If the Life Insured survives until the end of the policy term, the Sum Assured will be paid to the policyholder as a Maturity Benefit along with any applicable simple reversionary bonus and final addition bonus.

Under this LIC single premium endowment policy, a Simple Reversionary Bonus is typically declared each year as a proportion of the Sum Assured. The sum assured is not increased by the bonus amounts in this plan (being a simple reversionary bonus and not a compound reversionary bonus)

If a policyholder has paid all of his or her premiums on time, a final addition bonus may be declared at the conclusion of the insurance term. It is a perk that the company offers to policyholders.

• Death Benefit: If the Life Insured passes away within the term of the policy:
  • If the Life Insured passes away prior to the start of risk, the nominee would only get the Single Premium paid.
  • The Sum Assured, along with earned bonuses, if any, would be paid as the Death Benefit after the risk started.

Grace Period: Inapplicable because a LIC single premium endowment insurance does not require subsequent premium payments.

Policy Benefit of termination or surrender under the single-premium LIC policy:
Under this plan, the Surrender Benefit is available:
    70% of the single premium paid within the first year, minus taxes and any additional premiums that may have been paid. 90% of the single premium paid, less taxes, any additional premiums, and any earlier-paid survivor benefits, starting in the second year.

Bonuses under this LIC one-time investment Plan may be redeemed:                          A surrender value of any vested simple reversionary bonuses under the policy will also be given to policyholders.