LIC Dhan Varsha
Don't wait to protect your loved ones and secure their financial future. Contact a LIC agent today and take the first step toward purchasing a life insurance policy.
The majority of endowment policies are offered with lengthier terms since they contribute to raising the total returns that an individual would get at the conclusion of the policy tenure. Additionally, if an investor chooses a bigger sum assured, policies like the LIC single premium endowment insurance give sizeable premium rebates.
Endowment plans are a well-liked financial strategy since they simultaneously offer an investor guaranteed profits and insurance coverage. Under the Indian Income Tax Act, endowment insurance offers tax advantages. By shielding a policyholder from risks that are not covered by the primary policy, riders under an endowment plan can improve the amount of coverage that a policyholder has.
Choose this plan to Avail Tax Benefit on premium paid Tax saving under Sec 80C & 10(10D) Guaranteed maturity with life cover for securing family's future Sovereign guarantee as per Sec 37 of LIC Act
- 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.
|
Minimum |
Maximum |
Entry Age (Last Birthday) |
90 days |
65 years |
Maturity Age (Last Birthday) |
18 years |
75 years |
Policy Term (PT) in years |
10 years |
25 years |
Premium Paying Term (PPT) in years |
Single |
|
Premium Paying Frequency |
Single |
|
Sum Assured |
Rs. 50,000 |
No Limit |
Age |
Rs 50,000 Sum Assured |
Rs 1 Lac Sum Assured |
Rs 2 Lacs Sum Assured |
30 Years |
27368 |
52935 |
104470 |
40 Years |
27888 |
53975 |
106550 |
50 Years |
29168 |
56535 |
111670 |
Age (Nearest birthday) |
Term |
||
10 Years |
15 Years |
25 Years |
|
10 |
756.90 |
640.30 |
463.10 |
20 |
757.60 |
641.55 |
465.85 |
30 |
757.95 |
642.60 |
470.90 |
40 |
759.75 |
647.65 |
488.35 |
50 |
766.05 |
662.25 |
527.35 |
60 |
777.50 |
688.60 |
– |
Sum Assured (Rs.) |
Rebate (in the percentage of Sum Assured) |
Rs. 50,000 to Rs. 95,000 |
Nil |
Rs. 1,00,000 to Rs. 1,95,000 |
18% of Sum Assured |
Rs. 2,00,000 to Rs. 2,95,000 |
25% of Sum Assured |
Rs. 3,00,000 and above |
30% of Sum Assured |
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.
So, What you are waiting for ? Fill your details to select the Plan.