Limited Premium Endowment Plan(830)
Limited premium endowment plan is a limited premium paying conventional with-Profits endowment Assurance plan.
PREMIUM PAYING MODE:-
Yearly, Half yearly, Quarterly, Monthly(ECS)
PREMIUM PAYING TERM
MINIMUM ENTRY AGE:-
18 years completed
MAXIMUM ENTRY AGE:-
62 years(nearest birthday)
MAXIMUM MATURITY AGE:-
MINIMUM SUM ASSURED:-
MAXIMUM SUM ASSURED
No Limit (Depending upon the income)
125% of basic sum assured ,OR 10 times of Annualized premium, OR 105%of all premiums paid as on death, WHICHEVER IS HIGHER.
On survival Basic sum-assured + Revisionary Bonus+ Final Additional Bonus.
The policy can be surrendered at any time during the policy term provided atleat two full years premiums have been paid.
Loan facility is available under this plan, after payment of premiums for at least two full years.
INCOME TAX BENEFIT :-
*Premium paid under this plan is eligible for TAX Rebate under section 80c.
*Maturity under this plan is free under sec10(10D).