Single Premium Endowment Plan is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy. This combination provides financial protection against death during the policy term with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility
Single Premium Endowment Policy is an endowment policy where sum assured along with Bonus and Final additional bonus will be paid to the policyholder, at the end of the policy term. Sum Assured will be paid to the nominee in case of death of the policyholder, during the policy year. In this Lic Single Premium Endowment Plan 817, premium needs to be paid by the policyholder, as a lump sum just once at the start of the policy.
At V Insure, we try to simplify things for you. We compare the premiums and features of each plan so that you can select the plans without too much of a fuss. Let us help you out in understanding what exactly a Single Premium Endowment is and the need to go for the best one.