LIC’s Single Premium Endowment Plan Plan 917 UIN 512N283V02

The endowment plan 917 has death benefits, maturity benefits, and participation benefits. It assures a good amount of money in case of premature death or when the policy reaches maturity. As it is a participating policy, it participates in the profits of the Corporation, and bonuses are acquired throughout the policy term. These bonuses are paid to the insured at the end of maturity, along with the Sum Assured on maturity. 

Details of the Plan

• Anyone between the age of 90 days and 65 years of age can buy this plan. 
• The policy term can be anywhere between 10-25 years. 
• The minimum age required at the maturity of the plan is 18 years, and the maximum age required is 75 years. 
• The minimum Sum Assured under this plan is Rs. 50,000, and there is no upper limit to the maximum amount. 
• Premium can only be paid as a one-time investment at the commencement of the policy.
• The Sum assured on death is affected by another factor – risk commencement. It means that if the insured dies before the risk commencement of the policy, then the Sum Assured on death would be the premium, excluding taxes and bonuses. However, if the insured dies after the risk commencement of the policy, then the Sum Assured on death would include the additional bonuses.
• The risk commencement works for anyone of 8 years of age or above.