Single Premium Endowment
One-Time Investment • Long-Term Financial Security
LIC Single Premium Endowment Plan 717 is a participating non-linked endowment policy designed for people who prefer making a single premium payment instead of paying premiums every year. With one-time investment, you receive life insurance protection, bonus participation and an attractive maturity benefit at the end of the policy term.
Plan Overview
| Feature | Details |
|---|---|
| Plan Name | Single Premium Endowment – 717 |
| Entry Age | 90 Days – 65 Years |
| Policy Term | 10 – 25 Years |
| Premium Mode | Single Premium |
| Minimum Sum Assured | ₹1,00,000 |
Example Illustration
| Item | Value |
|---|---|
| Age | 18 Years |
| Policy Term | 25 Years |
| AD & DB | ₹10,00,000 |
| Basic Sum Assured | ₹10,00,000 |
| Single Premium | ₹4,76,400 |
Total Approximate Paid Premium
Only one payment for the entire policy term.
Approximate Return at Maturity
| Benefit | Amount |
|---|---|
| Basic Sum Assured | ₹10,00,000 |
| Bonus | ₹12,00,000 |
| Final Additional Bonus (FAB) | ₹4,50,000 |
| Total Approximate Return | ₹26,50,000 |
Why Choose LIC Plan 717?
Unlike regular premium policies, LIC Single Premium Endowment Plan 717 requires only one premium payment. This makes it ideal for investors who have a lump sum amount and want guaranteed life insurance with wealth creation.
- One-time premium payment
- Guaranteed life insurance protection
- Participating bonus benefits
- Final Additional Bonus eligibility
- Loan facility available
- Tax benefits as per applicable laws
Who Should Buy This Policy?
This policy is suitable for salaried employees, business owners, parents, NRIs (subject to LIC rules) and anyone looking for a one-time investment with long-term financial benefits. It is especially useful for people who do not want the burden of yearly premium payments.
Key Advantages
| Benefit | Available |
|---|---|
| Single Premium | Yes |
| Bonus | Yes |
| Final Additional Bonus | Yes |
| Life Insurance | Yes |
| Loan Facility | Available |
| Tax Benefit | Applicable* |
Frequently Asked Questions
1. What is LIC Single Premium Endowment Plan 717?
It is a participating endowment plan where the premium is paid only once and the policy provides life insurance plus maturity benefits.
2. What is the entry age?
The minimum entry age is 90 days and the maximum entry age is 65 years.
3. What is the policy term?
The available policy term ranges from 10 years to 25 years.
4. What is the minimum Sum Assured?
The minimum Basic Sum Assured starts from ₹1,00,000.
5. Is bonus guaranteed?
Bonus and Final Additional Bonus depend on LIC declaration and are not guaranteed.
Conclusion
LIC Single Premium Endowment Plan 717 is an excellent choice for investors seeking a one-time premium policy with attractive maturity returns and life insurance protection. It combines security, disciplined wealth creation and bonus participation in a single traditional LIC policy.
Disclaimer: The above premium, bonus, FAB and maturity values are approximate illustrations for educational purposes only. Actual benefits depend on LIC rules and bonus declaration.
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