Lic Single Premium Endowment
vs
Lic Siip
- Choose your coverage tenure
- Multiple sum assured options
- Enhance coverage with add-ons
| PLAN DETAILS |
 Lic Single Premium Endowment |
 Lic Siip |
| Premium Including GST | ||
| Key Features (Key features of the plan) |
|
|
| Plan Uniqueness |
|
|
| Plan Maturity age | Maximum Maturity Age - 75 years | Maximum Maturity Age - 85 years |
| Premium payment term | Single Premium | 10 to 25 years |
| Plan Entry Age | Minimum Age - 90 days Maximum Age - 65 years | Minimum Age - 90 days Maximum Age - 65 years |
| Sum assured | Rs 50,000 to No limit | Rs 10 lakhs to No limit |
| Premium payment frequency | Annual, half-yearly, quarterly & monthly | Annual, half-yearly, quarterly & monthly |
| Plan Sample Premium | - | - |
| Plan Brochure | Brochure URL | Brochure URL |
| Policy tenure | Minimum- 10 years Maximum-25 years | Minimum term - 10 years Maximum term - 25 years |
| Claim Settlement Ratio (2023-24) | 98.62 | 98.62 |
It is a traditional endowment with death and maturity benefits to the policyholder. Even a bonus facility is given along. In this plan, the premium is paid in the starting which is paid in a lump sum amount. It serves the investment purpose and even secures you if you face an untimely demise. There is a sure short return on them which means these plans are secure and provide people with financial benefits. These plans including the LIC'S single premium plan provide insurance cover for the policyholder which means that if any unfortunate incident takes place to the insured then a lump sum amount will be given to the family. So if the person is the breadwinner of the family, there might not be a problem if this plan is availed. Even rebates are offered by LIC's single premium policy. One can even avail loan on these plans. Under the Income-tax Act, tax benefits are there for the people who take these policies.
LIC Single Premium Endowment Plan offers you a range of benefits including:
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