LIC's Single Premium Endowment Plan (Plan No. 917, UIN: 512N283V02)

LIC's Single Premium Endowment Plan (Plan No. 917) is a non-linked, participating endowment plan that combines life insurance and savings into a single package. Here are some key features of the plan:


  • Life Cover: The plan provides life cover throughout the policy term. If the policyholder dies during the term, the sum assured along with any accrued bonuses is paid to the nominee.
  • Maturity Benefit: Upon surviving the policy term, the policyholder receives the sum assured along with accumulated bonuses.
  • Participation in Profits: The plan participates in the profits of LIC and earns bonuses, declared annually and added to the policy.
  • Tax Benefits: Premiums paid are eligible for tax deductions under Section 80C of the Income Tax Act, 1961. Premiums are paid as a single lump sum, so the entire amount can be claimed as deduction in the first year.
  • Maturity and Death Benefits are tax-free: The sum assured and bonuses received on maturity or death are exempt from income tax under Section 10(10D) of the Income Tax Act, 1961.
  • Flexibility: You can choose a policy term between 10 and 25 years, and the minimum age at entry is 90 days and the maximum is 65 years.

Things to Keep in Mind:

  • Single Premium Payment: This plan requires a one-time lump sum payment as the premium.
  • No Guaranteed Rate of Return: While bonuses are declared annually, there is no guaranteed rate of return. Actual returns depend on the performance of LIC.
  • UIN Number: You mentioned your policy's UIN number (512N283V02). It's essential to keep this information confidential and refrain from sharing it publicly.

Alternatives to Consider:

  • If you're looking for a plan with guaranteed returns, you might consider LIC's Jeevan Lakshya, a guaranteed endowment plan.
  • If you have a longer investment horizon and are comfortable with market fluctuations, you might consider Unit Linked Insurance Plans (ULIPs) by LIC.


  • This is just a summary of the plan. For detailed information about terms and conditions, premium rates, and benefits, consult the LIC website or an LIC agent.
  • Make sure the plan aligns with your financial goals and risk appetite before making any decisions.

I hope this information helps! Let me know if you have any further questions about LIC's Single Premium Endowment Plan or any other LIC plans.