This document summarizes the features of LIC's Single Premium Endowment Plan, a participating non-linked savings plan. Key details include: premium is paid as a lump sum upfront; death benefit equals sum assured plus bonuses if death occurs during the policy term; sum assured plus bonuses is paid if surviving at end of term; bonuses may be earned annually based on corporation's profits; loan and surrender benefits are provided. The plan provides savings, protection, and liquidity for individuals aged 90 days to 65 years for 10-25 year terms.

1. SINGLE PREMIUM ENDOWMENT
Plan No. 817
Presented by:-
Sumeet Pawar
Insurance Advisor
Call (+91) 7738546484
License No: 10149681
Agency Code: 02187929

2. Features
LIC's 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.

3. Benefits
Death Benefit:
a) On death during the policy term before the
date of commencement of risk: Return of
single premium excluding service tax and extra
premium, if any, without interest.
b) On death during the policy term after the
date of commencement of risk: Sum Assured
along with vested Simple Reversionary
Bonuses and Final Additional Bonus, if any.

4. Benefits
Maturity Benefit:
Sum Assured, along with vested Simple Reversionary Bonuses
and Final Additional Bonus, if any, shall be payable.
Participation in profits: The policy shall participate in profits of
the Corporation and shall be entitled to receive Simple
Reversionary Bonuses declared as per the experience of the
Corporation.
Final (Additional) Bonus may also be declared under the policy
in the year when the policy results into a claim either by death
or maturity on such terms and conditions as may be declared
by the Corporation from time to time.

5. Benefit Illustration
Basic Details-
Sum Assured: Rs 1,00,000
Age at Entry: 30 yrs
Term: 25 yrs
Single Premium: Rs 46,689 (Rs 45,290 + Rs 1,390)
Approximate Maturity Returns-
Interim Bonus: Rs 1,20,000
Final Bonus: Rs 33,000
Maturity (SA + IB + FB): Rs 2,53,000

6. Eligibility Conditions & Other
Restrictions
Minimum entry age : 90 days (completed)
Maximum entry age : 65 years (nearest birthday)
Maximum maturity age: : 75 years (nearest birthday)
Minimum policy term : 10 years
Minimum age at maturity : 18 years (completed)
Maximum policy term : 25 years
Minimum Sum Assured : Rs.50,000
Maximum Sum assured : No limit
(Sum Assured will be in multiples of Rs.5,000 /- only)
Premium payment mode : Single Premium only

7. Date of Commencement of Risk
In case the age of Life Assured at entry is less
than 8 years, risk under this plan will commence
either 2 years from the date of commencement
or from the policy anniversary coinciding with or
immediately following the attainment of 8 years
of age, whichever is earlier. For those aged 8
years or more, risk will commence immediately.

8. High Sum Assured Rebate
Sum Assured (S.A) Rebate (Rs.)
50,000 to 95,000 Nil
1,00,000 to 1,95,000 Rs 18 per 1000 on S.A.
2,00,000 to 2,95,000 Rs 25 per 1000 on S.A.
3,00,000 and above Rs 30 per 1000 on S.A.

9. Loan Facility
Loan can be availed under this plan any time
after completion of first policy year and subject
to terms and conditions as the company may
specify from time to time.

10. Surrender Value
Buying a life insurance contract is a long term commitment.
However, surrender value is available under the plan on earlier
termination of the contract.
The Guaranteed Surrender Value allowable shall be as under:
First year: 70% of the Single premium excluding service tax and
extra premium, if any
Thereafter: 90% of the Single premium excluding service tax and
extra premium, if any.
In addition, the surrender value of vested simple reversionary
bonuses, if any, shall also be payable, which is equal to vested
bonuses multiplied by the surrender value factor applicable to
vested bonuses. These factors will depend on the policy term
and policy year in which the policy is surrendered.

11. Cooling-off Period
If the policyholder is not satisfied with the “Terms and
Conditions” of the policy, the policy may be returned to
the Corporation within 15 days from the date of receipt
of the policy stating the reason of objections. On
receipt of the same the Corporation shall cancel the
policy and return the amount of single premium
deposited after deducting the proportionate risk
premium for the period on cover, charges for medical
examination, special reports, if any, and stamp duty.