Have you heard about LIC’s LIMITED PREMIUM ENDOWMENT plan? It’s a great way to protect your loved ones and save money at the same time. With this lic LIMITED PREMIUM ENDOWMENT policy (UIN: 512N293V01), you can feel secure knowing your family will be taken care of if something happens to you. Plus, you’ll be putting aside funds for your future goals. Let’s take a closer look at how lic Plan No. 830 works and how it can benefit you and your family.


Have you been looking for a life insurance plan that lets you pay for a shorter time but still get coverage for many years? LIC’s LIMITED PREMIUM ENDOWMENT plan is perfect for you! With this special lic policy (UIN: 512N293V01), you only need to pay premiums for a small part of the total policy term. This means you can have the security of life insurance for a long time without having to worry about paying for the entire duration.

This plan is like a financial guardian angel for your loved ones. If something unfortunate happens to you during the policy term, your family will be taken care of. And if you live until the end of the term, you’ll get a guaranteed amount of money to help you reach your long-term dreams and goals. It’s a win-win situation with lic LIMITED PREMIUM ENDOWMENT No. 830!

Advantages of LIMITED PREMIUM ENDOWMENT (Plan No. 830)

  • You get the double benefit of life protection and saving money in one simple plan
  • You can choose to pay premiums for just 8 or 9 years, which is very convenient
  • You have the flexibility to pick a policy term of 12, 16, or 21 years based on what works best for you
  • If you ever need extra money for an emergency, you can take a loan against your policy

Eligibility Criteria

To enjoy the benefits of LIC’s LIMITED PREMIUM ENDOWMENT plan, there are a few simple rules you need to follow. You must be at least 18 years old to apply, and the oldest you can be depends on the policy term you choose, which can be between 54 and 62 years old. You can select a sum assured starting from Rs. 3,00,000, and there is no maximum limit. The policy terms available are 12, 16, and 21 years, and you’ll pay premiums for either 8 or 9 years. Depending on your chosen policy term, you can be up to 69 to 75 years old when the policy matures.

Entry Age18 years54-62 years (based on term)
Sum AssuredRs. 3,00,000No limit
Policy Term12 years21 years
Premium Paying Term8 years9 years
Maturity Age69-75 years (based on term)


Death Benefit

If something unfortunate happens to you during the policy term, your loved ones will receive a significant amount of money from your lic LIMITED PREMIUM ENDOWMENT policy. This is called the death benefit, and it includes the Sum Assured on Death, any Simple Reversionary Bonuses that have built up, and a Final Additional Bonus if LIC declares one. The Sum Assured on Death is calculated as the highest of three things: 10 times your yearly premium, the Basic Sum Assured, or 125% of the Basic Sum Assured. This way, your family will have strong financial support during a difficult time.

Maturity Benefit

If you live until the end of your policy term, you’ll get a guaranteed maturity benefit. This includes your Basic Sum Assured plus all the Simple Reversionary Bonuses that have been added to your policy over the years. You might also get a Final Additional Bonus if lic decides to give one. This maturity benefit is like a reward for your smart financial planning. You can use it to make your long-time dreams come true or to have a more secure retirement.

Participation in Profits

When you choose LIC’s LIMITED PREMIUM ENDOWMENT plan, you get to share in the profits that the company makes. Every year, Simple Reversionary Bonuses are announced and added to your policy. Plus, there might be a Final Additional Bonus at the end of your policy term, which makes your maturity benefit even bigger. It’s a great way to benefit from LIC’s financial success and give your savings an extra boost.

Optional Benefits

You can tailor your LIMITED PREMIUM ENDOWMENT No. 830 insurance coverage by adding two optional rider benefits. The LIC’s Accidental Death and Disability Benefit Rider (UIN: 512B209V01) gives you extra financial protection if you die or become disabled due to an accident. The LIC’s New Term Assurance Rider (UIN: 512B210V01) provides additional term insurance coverage. You can choose these riders based on your specific needs and situation.

Keep in mind that the sum assured under the rider you pick can’t be more than the basic sum assured of your main plan. If you want to learn more about these riders, their benefits, and the rules, you can check out the special rider brochure or visit your nearest LIC branch office. The friendly staff there will be happy to help you make the best decision.


Although LIC’s LIMITED PREMIUM ENDOWMENT plan provides wide-ranging coverage, it’s important to know about the suicide exclusion clause. If the Life Assured commits suicide within 12 months from the start of the policy or its revival, the death benefit paid will be either 80% of the premiums paid (not including taxes and rider premiums) or the surrender value, whichever is more. No other claim will be considered in this situation. This exclusion clause helps keep the plan financially stable and protects the interests of all policyholders.

Frequently Asked Questions

What is the minimum and maximum sum assured under this plan?

With LIC’s LIMITED PREMIUM ENDOWMENT plan, you have the freedom to choose a sum assured that works for your financial goals. The minimum sum assured is Rs. 3,00,000, and you can increase it by Rs. 10,000 at a time to find the perfect amount for your needs. The best part? There’s no maximum limit on the sum assured, so you can pick a coverage amount that fits your budget and gives you the protection you want.

What is the benefit payable on surrender of the policy?

If you’ve paid your premiums for at least two full years and then decide to surrender your lic LIMITED PREMIUM ENDOWMENT policy, you’ll get a surrender benefit. The Guaranteed Surrender Value is a percentage of all the premiums you’ve paid, not including taxes and rider premiums. Plus, if your policy has earned any vested bonuses, you’ll get the surrender value of those bonuses too. It’s a nice way to get some money back if you need to end your policy early.

Can I take a loan against my LIC Limited Premium Endowment policy?

Yes, you can! One of the great features of LIC’s LIMITED PREMIUM ENDOWMENT plan No. 830 is the loan facility. If you have an urgent financial need and your policy has a surrender value, you can take out a loan against it. The rules and conditions for getting the loan will depend on LIC’s guidelines at the time you apply. It’s like a financial safety net built right into your insurance policy.

How can I revive my policy if it lapses due to non-payment of premium?

Don’t worry if you miss paying your premiums and your policy lapses. LIC’s LIMITED PREMIUM ENDOWMENT plan gives you the option to revive it. You have 2 years from the date of the first missed premium to bring your policy back to life. All you need to do is pay all the premiums you missed, along with some interest. You’ll also have to prove to lic that you’re still insurable. It’s a simple process to get your policy back on track and make sure you and your loved ones stay protected.

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