The Whole Life Policy Single Premium :

LIC’s Whole Life Policy – Single Premium, as the name goes offers life cover throughout your life and you need to make your payment in a single lump sum only. With that you will be given strong financial security throughout your life.

This plan allows you to pay your premiums according to your convenience, monthly, quarterly, half yearly, or annually.  Or you can pay it as a single premium. 

You can also opt to pay your premium for a time span of thirty five years or until you reach the age of eighty years.

You are eligible to involve yourself in the profits from this investment cum business plan.  Whatever gains are got from this business, we are also given a part of it in the form of bonuses.  You will also be given a terminal bonus.

By buying the LIC’s Whole Life Policy – Single Premium,
If you die by some unfortunate incident, your nominee will receive the sum assured as well as any bonuses that have been added up to your account by the insurance company.

Because this is a whole life plan, it does not have a date of maturity.  But if you wish to receive your money, you can do so after forty policy years are over and you must be at least eighty years by then.

There is something called the supplementary benefit by which you will be given extra benefits and security.  If you want to enjoy this benefit, you are required to pay an additional premium.

If at any time during the policy term, you have a change of mind and wish to discontinue the policy, you are permitted to do so only after you have completed three years of the policy term.  Then you will be given the guaranteed surrender value.

You should buy LIC’s Whole Life Policy – Single Premium since it a plan which offers life long life cover with added benefits. Those of you who buy this policy can spend the rest of their lives in peace and tranquility in the knowledge that their lives are well insured.