LIC’s Single Premium Endowment Plan Table No. 817

LIC’s Single Premium Endowment Table No. 817 is a Single premium plan, with Profit, non-linked Endowment Plan.

Sum Assured: Minimum limit for the sum assured is Rs. 50,000/- and there is no maximum limit.

Policy Term:  10 Years to 25 Years.

Premium Paying Term: Single Premium Policy.

Entry Age: 90 days Completed to Age 65 Year (It is also applicable to child)

Maximum Maturity Age: 75 Years.

Premium Payment Mode: Single Premium.

Maturity Benefits: Basic sum assured along with vested simple reversionary bonus and the final additional bonus is paid to the policy holder.

Death Benefits: 

If the Death happens before the commencement of risk, the nominee will get an amount equal to total amount of paid premium’s excluding taxes and rider premium, if any.

If the Death happens after the commencement of risk, the nominee will get:
Base Sum Assured + Simple Reversionary Bonus (every year) + Final Additional Bonus (applicable in the year of death)

Income Tax Benefit: 10 % of Sum Assured in this policy is exempted under section 80C of Income Tax Act.

Liquidity Benefit: Policy holder can take a loan under this policy after completion of 1 years of the Policy.

Surrender: Policy can be surrendered at any time

For simplicity study following table

PlanSingle Premium Endowment
Min Age90 Days
Max Age65 Year
Max Maturity Age75 Year
Policy Term10 to 25 Year
Premium Paying TermSingle
Min Sum AssuredRs. 50,000/-
Max Sum AssuredAny
Payment ModeSingle Premium
LoanYes -1 Year
SurrenderAny time

An example of LIC’s Single Premium Endowment Plan Table No. 817

This plan is available for 90 days completed child to 65-year-old persons. Here we have taken an example for Rs. 10, 00, 000/ Basic Sum Assured for 1 Year, 15 Year and 30 years age of Insured Person at the time of application. 

From this, it can be concluded the effect on Premium according to the age of the applicant.

“Single Premium Endowment” Table 817

Basic Sum Assured: Rs. 10,00,000/-

PlanSingle Premium EndowmentSingle Premium EndowmentSingle Premium Endowment
Age1 Year15 Year30 Year
Premium Paying Term111
Policy Term25 Year25 Year25 Year
Basic Sum AssuredRs. 10,00,000/-Rs. 10,00,000/-Rs. 10,00,000/-
Double Accidental BenefitNANANA
Premium First YearRs. 4,51,701/-Rs. 4,54,157-Rs. 4,60,742/-
Premium second Year Onwards000
Total Premium PaidRs. 4,51,701/-Rs. 4,54,157-Rs. 4,60,742/-
Money Back At the YearNANANA
Money back %NANANA
Total Money BackNANANA
Maturity ReturnRs. 27,25,000/-Rs. 27,25,000/-Rs. 27,25,000/-
Total ReturnRs. 27,25,000/-Rs. 27,25,000/-Rs. 27,25,000/-
Life Time CoverNANANA

Above Calculations are approximate and according to current bonus rate. It may vary according to the rate of bonus and taxes.

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