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Mr.Pradeep Diwan
LIC Agent
7C / 8C, Parekh Nagar Indl. Estate, S. V. Road, Kandivli (West), Mumbai - 400067
Maharashtra, India.
Tel: 28050377/ 28055576
Fax: 28056748
Cell: 9324422924
pradeep@licinsurance.com

LIMITED PAYMENT ENDOWMENT

Suitability

  • This is a modified version of Endowment Assurance plan with regard to payment of premium. It provides family protection as well as old age provision at an affordable premium. This policy is suitable for all categories of people.

Salient Features

  • Sum assured is payable either on survival till the end of the term or on death happening within the term.
  • The policy is available for three terms : 15 , 20 and 25 years.
  • Payment of premiums are limited to shorter terms.
  • Both With-Profit and Without-Profit plans are available.
  • Bonus for the full term is payable on the date of maturity or in the event of death, whichever is earlier.
  • Premiums cease on death or on expiry of term whichever is earlier.

Premium Paying terms

S.No

Policy term (in yrs)

Premium paying term (in yrs)

1

15

5, 10

2

20

5,10,15

3

25

5,10,15,20

Benefits

On Survival

  • Basic Sum Assured + bonus under the With-profit plan
  • Basic Sum Assured only under Without-Profit plan

On Death

  • Basic Sum Assured + bonus under the With-profit plan
  • Basic Sum Assured only under Without-Profit plan

Other Conditions

  • Minimum Sum Assured :
    • Rs 30,000 for a with profit plan
    • Rs 50,000 for a without profit plan
    • Rs 50,000 for a single premium plan
  • Minimum premium must be Rs.800 per annum
  • Minimum age at entry : 12 years
  • Maximum age at entry :
    • 15 year term - 55 yrs
    • 20 year term - 50 yrs
    • 25 year term - 45 yrs
 
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