LIC’s Single Premium Endowment Plan (Plan No. 717) allows you to pay a single lump-sum premium and receive protection plus savings benefits over a defined term. Designed for those who prefer to make one payment and want future financial security without further premium commitments, it offers simplicity, disciplined savings, and a clear benefit payout at maturity or death.
After paying a one-time premium, the policy stays active for the chosen term. In the event of the life assured’s death during the policy term, the nominee receives the Sum Assured on Death plus bonuses (if any). If the life assured survives to maturity, the maturity benefit (Sum Assured plus bonuses) is paid out—providing a lump sum at the end of the term.
• **Single Premium Payment:** Simplifies premium management—no periodic payments required.
• **Life Cover & Savings Combined:** Offers financial protection and savings benefit in one plan.
• **Defined Term End Benefit:** Receive a lump sum at maturity, aligning with financial goals such as children’s education, marriage or legacy planning.
• **Bonus Eligibility:** As a participating plan, it may credit reversionary bonuses and final additional bonus, increasing your value over time.
• Individuals with a lump sum ready for investment and who want no further premium obligations.
• Conservative savers seeking capital accumulation with protection rather than market-linked volatility.
• Parents or elders planning for a future payout after a fixed tenure for a dependent’s goal.
• Confirm the **Sum Assured** is adequate relative to your lump-sum premium and goal horizon.
• Review the **term** of the policy—longer terms may yield higher bonuses but mean longer wait.
• Check bonus history and pattern—while bonuses are not guaranteed, earlier patterns help estimate outcomes.
• Understand surrender values and liquidity—early surrender may reduce benefit; plan to hold till term ends.
• You have a lump sum (like legacy, inheritance or mature investment) and want to put it to work for future payout.
• You prefer set-and-forget products rather than periodic premiums or market monitoring.
• You seek an insurance-savings hybrid with guaranteed payout rather than pure investment risk.
LIC’s Single Premium Endowment Plan (Plan No. 717) offers an elegant solution: one-time payment, long-term benefit and protection for your dependents.
If you’re ready to invest a lump sum now, want minimal hassle later and value a guaranteed end-benefit, this plan is worth considering.
Pay once, wait for term end, and secure your future benefit today.