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| LIC launches single premium endowment plan | | | Early Times Report
Jammu, Jan 2: Life Insurance Corporation (LIC) today launched 'Single Premium Endowment Plan' with profit non-linked savings cum protection plan.
While addressing on the occasion, AP Singh Zonal Manager North Zone said that this is a with profit non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy. He said that the policyholder is entitled to full risk coverage for the term of the policy. At the end of the policy term sum assured along with simple reversionary bonus and Final Additional Bonus (if any) is payable.
He further said that the policy can be taken for a child of age 90 days upto the age of 65 years for maximum of 25 years term.
He further added that Minimum Sum Assured is Rs 50000/- and can be taken in multiples of Rs. 5000/- with no limit for maximum Sum Assured. It also takes care of liquidity through its loan facility.
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