Comparison between LIMITED PREMIUM PLAN of LIC

Poster for Limited Premium Plan of LIC of India

Limited Premium plan is a type of plan in which customer need to pay their premium for limited years. Example: If customer is taking an insurance plan for 21 years than under this plan he need to pay premium for 16 years only. The mode of premium may be Yearly, Half Yearly, Quarterly or Monthly. Under this category there are two plan of LIC i.e. Limited Premium Endowment Plan (830) and Jeevan Labh (836). A comparison between these limited premium plan of LIC for age-18, term-16 and sum assured-10,00,000 has been given in figure-1.

For 10,00,000 Insurance, Jeevan Labh has lowest premium while Limited Premium Endowment has highest maturity and highest profit ratio. Note: These type of plans are suitable for those who can pay premium for some years and wants insurance for more years.