LIC Single Premium Endowment Plan Calculator
Calculate the one-time premium for LIC Single Premium Endowment Plan (UIN: 512N283V03). Pay once and the policy runs for the full term with no further obligations. See the net premium after the High Sum Assured rebate, your maturity amount, and death cover.
Regular endowment plans ask you to pay every year, every quarter, or every month. Miss one payment and the policy lapses. LIC's Single Premium Endowment Plan asks for one lump sum at the start and nothing after that. The policy is fully paid-up from day one. From 22 September 2025, that single premium is also fully GST-exempt.
High Sum Assured Rebate (auto-applied)
Premium Summary
Single Premium · No GST · HSA Rebate AppliedPolicy at a Glance
Year-wise Policy Growth
Bonus · Death Benefit · Surrender ValueYear-wise Benefit Illustration
| Year | Cumulative Bonus | Death Benefit | Surrender Value (GSV) | Maturity Value |
|---|
What is LIC's Single Premium Endowment Plan?
Regular LIC endowment plans ask you to commit to years of annual premium payments. The Single Premium Endowment Plan asks for one payment and that is the end of your financial obligation. The policy stays active for the full term, earning bonuses each year and providing death cover throughout. This works well for people who receive a lump sum, such as a maturity payout from another policy, a bonus, or an inheritance, and want to put it into a guaranteed savings product with life cover. From 22 September 2025, the single premium is fully GST-exempt.
Key Features
Pay Once, Done
One payment at inception and no further obligation ever. The policy is paid-up from day one. There is no lapse risk because there are no future premiums to miss.
Cover and Savings Together
Death cover runs throughout the full policy term. Survive to the end and you collect the BSA plus all accumulated bonuses as a maturity payout.
High Sum Assured Rebate
The HSA rebate is deducted directly from your single premium. At the highest tier, BSA of Rs.5 lakh and above earns a rebate of 40 per mille of the BSA. On Rs.10 lakh BSA, that is Rs.40,000 off the premium before you pay.
Death Cover Floor Based on Age
For entry ages below 50, the death benefit will not be less than 1.25 times the single premium paid. For ages 50 and above, the floor is 1.10 times the premium. In most cases the BSA is the larger figure and applies as the death cover, but the floor protects buyers where the BSA is small relative to the premium.
Annual Bonus Participation
SRBs accrue every year for the full policy term and are paid at maturity or on death. The Final Additional Bonus is paid when the policy results in a claim. Once declared, each year's SRB is guaranteed.
Zero GST from September 2025
All individual life insurance premiums are GST-exempt from 22 September 2025. The single premium shown in this calculator is what you pay, nothing added.
Loan from 3 Months After Issuance
Most LIC regular endowment plans require a full year of premiums before a loan is available. This plan allows a loan from 3 months after issuance. The limit scales from 50% in the first 5 years up to 80% from year 10 onward.
Entry from 30 Days of Age
The plan accepts a life assured as young as 30 days old. For children below 8 at entry, life cover starts at whichever comes first: 2 years from the policy start date, or the child's 8th birthday. Before that point, the death benefit is a refund of the single premium.
Eligibility Conditions
- Minimum Entry Age: 30 days (completed)
- Maximum Entry Age: 65 years (nearer birthday)
- Maximum Maturity Age: 75 years (nearer birthday)
- Minimum Policy Term: 10 years
- Maximum Policy Term: 25 years
- Minimum Age at Maturity: 18 years (completed)
- Minimum Sum Assured: ₹1,00,000 (multiples of ₹10,000 up to ₹2.5L, then ₹25,000)
- Maximum Sum Assured: No upper limit
- Premium Mode: Single Premium only
Benefits in Detail
Death Benefit (During Policy Term)
When a death claim occurs after risk has commenced, the nominee receives the Sum Assured on Death plus all vested SRBs and FAB. The Sum Assured on Death is whichever is higher:
- Age at entry < 50 years: Higher of BSA or 1.25 times the single premium paid (excl. taxes)
- Age at entry ≥ 50 years: Higher of BSA or 1.10 times the single premium paid (excl. taxes)
For policies taken on a child below age 8, full life cover does not apply immediately. Risk starts at whichever comes first: 2 years from the policy start date, or the child's 8th birthday. Before risk commencement, the death benefit is a return of the single premium with no additions.
Maturity Benefit
Survive to the maturity date and you receive the Basic Sum Assured plus all accumulated SRBs and the Final Additional Bonus. The structure is the same as a regular endowment plan. The entire difference from a regular plan is that you already settled the cost years earlier with a single payment.
High Sum Assured Rebate: How It Works
The HSA rebate is subtracted directly from the calculated single premium before you pay. The larger the BSA, the bigger the rebate both in rate and in rupee terms. Choosing a Rs.5 lakh BSA over Rs.4.9 lakh BSA, for instance, shifts you into the 40 per mille tier from 30 per mille.
| 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) |
Worked example: BSA Rs.5,00,000, Age 30, Term 25 years. Tabular premium = 5 x Rs.50,695 = Rs.2,53,475. HSA Rebate = 40 per mille of Rs.5,00,000 = Rs.20,000. Net single premium: Rs.2,33,475. That Rs.20,000 saving requires no action from you. The calculator applies it automatically.
Sample Single Premiums (per ₹1 Lakh BSA, Standard Lives)
| 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.
Policy Loan: Tiered Structure
A loan against the surrender value is available from 3 months after the policy is issued. Most regular endowment plans require a full year of premiums first. The maximum loan percentage scales upward the longer the policy has been running:
| Policy Year | Maximum Loan (% of Surrender Value) |
|---|---|
| 1st to 5th Year | 50% |
| 6th to 9th Year | 60% |
| 10th Year and above | 80% |
Interest for 2024-25 is 9.5% per annum compounding half-yearly. The loan stays outstanding against the policy and is recovered from the claim proceeds at maturity or death.
Surrender Value
Surrender is allowed at any time from the start of the policy. The payout is whichever is higher: the Guaranteed Surrender Value or the Special Surrender Value.
- First 3 policy years: GSV = 75% of single premium paid (excl. taxes, extra premium, rider premiums)
- Year 4 onwards: GSV = 90% of single premium paid
The surrender value of any accrued SRBs is also payable, multiplied by the applicable GSV factor for bonuses from LIC's brochure table. Riders do not carry any surrender value.
GST on LIC Single Premium Endowment Plan: 2025 Update
From 22 September 2025, all individual life insurance premiums are GST-exempt, including single premium plans. The 1.8% GST that previously applied to this plan is now zero. The net premium shown in this calculator is what you pay, with nothing added.
Single Premium Endowment vs Regular Endowment Plan
| 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) |
Optional Riders
- Accidental Death and Disability Benefit Rider (512B209V02): Must be attached at inception. Pays a lump sum on accidental death. On accidental disability, pays monthly instalments over 10 years. The rider SA cannot exceed the BSA and all rider premiums combined cannot exceed 30% of the base single premium.
- New Term Assurance Rider (512B210V02): Must be attached at inception. Adds a layer of pure death cover on top of the base plan for the full policy term. The rider SA cannot exceed the BSA.
Frequently Asked Questions
What is LIC's Single Premium Endowment Plan (UIN 512N283V03)?
You pay once at inception and the policy runs for the chosen term of 10 to 25 years with no further payments. There are no future premium obligations, no lapse risk, and no annual reminders. At maturity you receive the BSA plus all accumulated SRBs and FAB. If you die during the term, your nominee receives the death benefit plus bonuses.
What is the High Sum Assured Rebate and how does it reduce my premium?
The HSA rebate is deducted directly from the calculated single premium before you pay. Below Rs.2 lakh BSA: no rebate. Rs.2 lakh to below Rs.3 lakh: 20 per mille of BSA. Rs.3 lakh to below Rs.5 lakh: 30 per mille. Rs.5 lakh and above: 40 per mille. On a Rs.10 lakh BSA the rebate is 40 per mille of Rs.10,00,000 which is Rs.40,000 off the single premium.
How is the death benefit calculated — what does 1.25× single premium mean?
The Sum Assured on Death is whichever is higher: the BSA or a multiple of the single premium paid. For entry ages below 50, the multiple is 1.25 times the net single premium. For ages 50 and above it is 1.10 times. In most real-world cases the BSA is the larger number and becomes the death cover. All vested SRBs and FAB are added on top of the death cover at the time of claim.
Is GST applicable on LIC Single Premium Endowment Plan?
No GST from 22 September 2025. The 1.8% GST that previously applied to single premium plans is now zero. The net premium shown in this calculator is the final amount you pay. Nothing is added on top.
Can infants and minors be covered under this plan?
The minimum entry age is 30 days. For a child below 8 years at entry, full life cover does not start immediately. Risk commences at whichever comes first: 2 years from the policy start date, or the child's 8th birthday. Before risk commencement, the death benefit is a refund of the single premium with no additions or interest.
When can I take a loan against this policy?
Three months after the policy is issued, a loan against the surrender value is available. Most LIC regular plans require a full year of premiums before allowing a loan. The maximum here is 50% of surrender value in years 1 to 5, rising to 60% in years 6 to 9, and reaching 80% from year 10 onward. Interest is 9.5% per annum compounding half-yearly for 2024-25. Outstanding loan and interest is recovered from claim proceeds.
What is the surrender value if I exit early?
Surrender is allowed at any time. The GSV is 75% of the single premium in the first 3 years and 90% from year 4 onward. The payout is whichever is higher: the GSV or the Special Surrender Value. Accrued SRBs also carry a surrender value based on LIC's GSV factor table for bonuses.
Can I receive maturity or death benefits in instalments?
Both maturity and death benefits are receivable in instalments instead of a lump sum. LIC's Settlement Option allows the maturity benefit in monthly, quarterly, half-yearly, or annual instalments over 5, 10, or 15 years. The same instalment structure applies to death benefits. Minimum amounts are Rs.5,000 per month, Rs.15,000 per quarter, Rs.25,000 per half-year, and Rs.50,000 per year.
What are the income tax benefits?
The single premium qualifies for Section 80C deduction up to Rs.1.5 lakh per year. For Section 10(10D) tax exemption on maturity proceeds, the test is whether the annual premium equivalent, which is the single premium divided by the policy term, exceeds 10% of BSA. If it stays within that threshold, the maturity proceeds are fully tax-free. With GST now at zero, the full premium amount qualifies for the 80C deduction.
Why is the premium higher for older entry ages?
A single premium covers all mortality costs in one payment rather than spreading them over years. Older policyholders carry higher mortality risk, so their upfront cost is higher. At age 50 and above, the death benefit floor also steps down from 1.25 times to 1.10 times the single premium. A 60-year-old pays Rs.79,965 per Rs.1 lakh BSA for a 10-year term, versus Rs.77,910 for a 10-year-old on the same term.
Is the policy available online directly from LIC?
Not available online. LIC's Single Premium Endowment Plan is sold only offline through licensed LIC agents, corporate agents, insurance brokers, and Insurance Marketing Firms.
How accurate is this calculator?
This calculator uses LIC's officially published premium table and HSA rebate structure from the 2024 brochure. The 1.25 times and 1.10 times death benefit floors are applied correctly based on entry age. GST is shown as Rs.0, which is correct from 22 September 2025. Bonus projections are illustrative per IRDAI guidelines. Actual premiums at policy issue sometimes differ slightly due to age rounding. Verify with a licensed LIC agent for a precise quote.