Calculate the one-time premium for LIC's Single Premium Endowment Plan (UIN: 512N283V03) — a Par, Non-Linked, Life, Individual, Savings Plan. Pay once, stay covered for the full term.
Unlike regular endowment plans with annual/monthly premiums, LIC's Single Premium Endowment Plan requires just one lump-sum payment at inception. There are no future premium obligations — the policy is fully paid-up immediately and cannot lapse. Effective 22 September 2025, all individual life insurance premiums including single premium plans are fully exempt from GST.
| Year | Cumulative Bonus | Death Benefit | Surrender Value (GSV) | Maturity Value |
|---|
LIC's Single Premium Endowment Plan (UIN: 512N283V03) is a Par, Non-Linked, Life, Individual, Savings Plan that combines life protection with savings through a single one-time payment. Unlike regular endowment plans that require annual, half-yearly, quarterly, or monthly premiums, this plan is fully paid-up with just one lump-sum premium at inception. This makes it ideal for individuals who have a corpus available upfront and want guaranteed savings with life insurance protection — without any ongoing premium obligations. From 22 September 2025, the single premium is fully exempt from GST.
One lump-sum payment at inception. No future premiums, no lapse risk. Policy is fully paid-up immediately.
Life cover throughout the policy term plus a maturity payout (BSA + bonuses) on survival.
High Sum Assured Rebate directly reduces your single premium: up to 40‰ of BSA for SA ≥ ₹5 Lakh.
For age <50: death cover ≥ 125% of single premium. For age ≥50: death cover ≥ 110% of single premium.
Earns Simple Reversionary Bonuses annually and Final Additional Bonus at maturity or death claim.
All individual life insurance premiums including single premium plans are now fully exempt from GST.
Policy loan available from 3 months after issuance — earlier than regular plans. Tiered limits up to 80% of SV.
Minimum entry age is just 30 days (completed). Risk commences at age 8 or 2 years from issuance, whichever is earlier.
On death during the policy term, after commencement of risk, the nominee receives the Sum Assured on Death plus all vested Simple Reversionary Bonuses and Final Additional Bonus (if any). The Sum Assured on Death is defined as:
For minors below 8 years of age, risk commences after 2 years from policy date or attainment of age 8, whichever is earlier. Before commencement of risk, death benefit is a refund of the single premium paid (excl. taxes and rider premiums).
On surviving the policy term, the policyholder receives the Basic Sum Assured (Sum Assured on Maturity) plus all vested Simple Reversionary Bonuses and Final Additional Bonus, if any. This is identical in structure to regular endowment plans — the difference is that you paid for it all upfront.
This plan offers a per-thousand rebate directly on the single premium based on the Basic Sum Assured chosen. This rebate is deducted from your calculated single premium, making larger policies more cost-efficient.
| Basic Sum Assured (BSA) | Rebate on Premium | Example (BSA = ₹5L) |
|---|---|---|
| ₹1,00,000 to < ₹2,00,000 | NIL | ₹0 |
| ₹2,00,000 to < ₹3,00,000 | 20‰ of BSA | ₹4,000 (for ₹2L BSA) |
| ₹3,00,000 to < ₹5,00,000 | 30‰ of BSA | ₹9,000 (for ₹3L BSA) |
| ₹5,00,000 and above | 40‰ of BSA | ₹20,000 (for ₹5L BSA) |
Example: For BSA ₹5,00,000, Age 30, Term 25: Tabular premium = 5 × ₹50,695 = ₹2,53,475. HSA Rebate = 40‰ × ₹5,00,000 = ₹20,000. Net Single Premium = ₹2,33,475.
| Age (nbd) | 10-Year Term | 15-Year Term | 25-Year Term |
|---|---|---|---|
| 10 years | ₹77,910 | ₹66,650 | ₹50,005 |
| 20 years | ₹77,985 | ₹66,775 | ₹50,255 |
| 30 years | ₹78,010 | ₹66,865 | ₹50,695 |
| 40 years | ₹78,180 | ₹67,335 | ₹52,340 |
| 50 years | ₹78,800 | ₹68,800 | ₹56,160 |
| 60 years | ₹79,965 | ₹71,405 | N/A (maturity age would exceed 75) |
Source: LIC official brochure Section 4. Premiums exclusive of taxes. No GST applicable from Sept 2025. Rebates apply for BSA ≥ ₹2L.
Loan is available from just 3 months after issuance (earlier than most plans). The maximum loan as a percentage of surrender value varies by policy year — rewarding longer-held policies:
| Policy Year | Maximum Loan (% of Surrender Value) |
|---|---|
| 1st to 5th Year | 50% |
| 6th to 9th Year | 60% |
| 10th Year and above | 80% |
Loan interest for 2024–25: 9.5% p.a. compounding half-yearly. Outstanding loan with interest is recovered from claim proceeds at exit.
The policy can be surrendered at any time. Surrender value is the higher of Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV):
In addition, the surrender value of vested Simple Reversionary Bonuses (if any) is also payable, multiplied by the applicable GSV factor for bonuses (per the table in the brochure). No surrender value is available on riders.
Effective 22 September 2025, under GST Reforms 2.0 (Notification No. 16/2025 Central Tax), all individual life insurance premiums — including single premium plans — are fully exempt from GST. The premium you see in this calculator is the net amount you pay, with zero tax added on top. LIC has confirmed the full GST benefit has been passed on to customers.
| Feature | Single Premium Endowment | New Endowment Plan (NEP) |
|---|---|---|
| Premium Payment | One-time lump sum | Annual / Half-yearly / Quarterly / Monthly |
| Min Entry Age | 30 days | 8 years |
| Max Entry Age | 65 years | 50 years |
| Min Policy Term | 10 years | 12 years |
| Max Policy Term | 25 years | 35 years |
| Min Sum Assured | ₹1,00,000 | ₹2,00,000 |
| Death Benefit Floor | 1.25× or 1.10× Single Premium (age-based) | Higher of BSA or 7× annualised premium |
| Lapse Risk | None — fully paid-up at inception | Yes — if premiums not paid |
| Loan Available From | 3 months after policy date | After 1 full year's premium |
| HSA Rebate | ‰ of BSA (starts from ₹2L BSA) | ₹ per ₹1,000 (starts from ₹5L BSA) |
A participating, non-linked individual savings plan where the entire premium is paid once at inception. The policy stays active for the chosen term (10–25 years) with no further payments. At maturity you receive the Basic Sum Assured plus all accumulated bonuses; on death during the term the nominee receives the death benefit plus bonuses.
The HSA Rebate is deducted directly from the single premium in per mille (‰) of BSA: NIL below ₹2L, 20‰ for ₹2L–₹3L, 30‰ for ₹3L–₹5L, and 40‰ for ₹5L and above. For example, at BSA ₹10,00,000 the rebate is 40‰ × ₹10,00,000 = ₹40,000 off the single premium.
The death benefit is the higher of BSA or a multiple of the net single premium: 1.25× for entry ages below 50, and 1.10× for ages 50 and above. If the BSA is large relative to the premium (the usual case), the BSA applies as the death cover, plus all vested bonuses.
No. Effective 22 September 2025 under GST Reforms 2.0, all individual life insurance premiums including single premium plans are fully exempt from GST. Previously this plan attracted 1.8% GST. The premium shown in this calculator is the final net amount you pay.
Yes. The minimum entry age is 30 days, making it one of LIC's most accessible plans. For life assured below 8 years, risk commences either 2 years from the policy date or when the child turns 8, whichever is earlier. Before risk commencement, the death benefit is a refund of the single premium.
Loan is available from just 3 months after policy issuance. Maximum loan is 50% of surrender value in years 1–5, 60% in years 6–9, and 80% from year 10 onwards. Interest for 2024–25 is 9.5% p.a. compounding half-yearly. Outstanding loan and interest is recovered from claim proceeds at exit.
Surrender is permitted at any time. The Guaranteed Surrender Value (GSV) is 75% of the single premium in the first 3 years and 90% from year 4 onwards. The higher of GSV or Special Surrender Value (SSV) is paid. Vested bonuses also carry a surrender value per LIC's GSV factor table.
Yes. Both maturity and death benefits can be received as instalments over 5, 10, or 15 years via the Settlement Option (maturity) or Instalment Option (death). Minimum instalment amounts are ₹5,000/month, ₹15,000/quarter, ₹25,000/half-year, and ₹50,000/year.
The single premium qualifies for Section 80C deduction up to ₹1.5L per year. Maturity proceeds are tax-free under Section 10(10D) if the annual premium equivalent (single premium ÷ policy term) does not exceed 10% of BSA. With GST now 0%, the full premium qualifies for the 80C deduction.
The single premium covers all mortality costs upfront, so older policyholders with higher mortality risk pay more. From age 50 onwards the death benefit floor also drops from 1.25× to 1.10× the single premium. For example, a 60-year-old pays ₹79,965 per ₹1L BSA for a 10-year term versus ₹77,910 for a 10-year-old.
No. LIC's Single Premium Endowment Plan is available only offline through licensed agents, corporate agents, brokers, or Insurance Marketing Firms. It is not available for direct online purchase on LIC's website.
This calculator uses LIC's official published premium table and HSA rebate structure from the 2024 brochure. The 1.25×/1.10× death benefit floor is correctly applied by age. GST is ₹0. Bonus projections are illustrative per IRDAI regulations. Actual premiums may vary slightly due to age rounding. Verify with a licensed LIC agent for a precise quote.
