LIC'S LIMITED PREMIUM ENDOWMENT PLAN T-830

LIC'S  LIMITED PREMIUM   ENDOWMENT PLAN T-830

Today LIC has launched new plan is LIMITED PREMIUM ENDOWMENT PALN, the payment of premiums is limited to a term shorter than the policy. The maturity amount is payable at the end of the policy term, or on the death of the policy holder whichever is earlier.

Type of plan : - Endowment plan with limited premium paying term.

• Minimum Entry Age : 18 years
• Maximum Entry Age : 62 years
• Maturity Age : 75 years ( Maturity age is, the date at which the face amount of a life insurance policy becomes payable by either death or other policy terms and conditions).
• Policy duration : Under this plan three types of durations are available – 12/16/21 years
• Premium Paying Term : 8 years (or) 9 years
• Minimum Sum Assured : Rs 3 Lakh
• Maximum Sum Assured : No limit.

LIC Plan 830 – Maximum Age at entry Vs PPT :-

Loan :- This Facility also available..

Optional Benefit :-

The Life Assured could opt for the subsequent Rider benefit(s):

1. LIC's Accidental Death and Disability Benefit Rider ( UIN: 512B209V01).

2. LIC's New Term Assurance Rider (UIN: 512B210V01 ).

Death Benefit :-
On death of policy holder during the policy period, his or her nominee will receive Sum Assured on Death+Accumulated Bonus and Final Additional Bonus if declared by LIC.

Sum Assured on Death will be higher of the below

(i) 10 times of annualized premium paid. (Or)

(ii) Absolute amount to be payable i.e 125% of Basic Sum Assured.

   This death benefit shall not be less than 105% of all the premiums paid as on date of death.

Maturity Benefit:-  If policy holder survives till the end of policy term then he/she will receive Sum Assured on Maturity+Bonus+Final Additional Bonus (if declared by LIC). Here Sum Assured on Maturity is equal to Basic Sum Assured.

Income tax Benefit :- Premiums paid under Life insurance policy are exempted from tax under Section 80 C Available limit Rs.1,50,000/-.

Documents Required:-

1.Proposal Form No 300 and 340.

2 1.Passport size Photograph (Proposer) * latest

3.Your ID Proof (Passport, Driving Licences, PAN, Voter ID)

4. Your Age Proof (Passport, School Certificate, Driving Licences, PAN, Voter ID)

5.Address Proof (Passport,Driving Licences, PAN, Voter ID Adhara Card)

6. Medical Requirement If any,