The Whole Life Policy-Limited Payment

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This policy is for all those people who need to purchase whole life policy because of it low premium rates but paying Premium for entire life is a big no.

This plan provides flexibility of choosing PPT, so one need to pay premium only till certain period of time and enjoy benefit of whole life policy.

Limited premium paying term.

One can select most productive years of his career to pay premium and build large amount as with the Minimum PPT of 5 years and maximum PPT of 55 years it provides greater level of flexibility in choosing PPT.

Maturity and Death Benefits

Maturity Benefit is paid only when person attains age of 80 years.

However there is option to take Maturity amount on the later date or paid to nominee on death.

Maturity Benefit would be S.A + Bonus + F.A.B.

Like in any other Limited PPT products policy continue to participate for Bonus even after PPT ceases.

Also if one opts for maturity benefit withdrawal on later date, policy continues to participate for the bonus.

If person dies any time during the policy term nominee would receives

  • S.A + Bonus + F.A.B.
  • 2 * S.A + Bonus + F.A.B (If accidental death benefit is taken).

For eg: if person dies due to accident on 20th years of policy term nominee would receive for a S.A of 1,00,00

Double of S.A which is 2,00,000

Bonus of 19 years which is 1,33,000 (@ 70/1000)

F.A.B as declared for that year.

*As far as LIC is concerned, Bonus rates for whole life policies are highest.

Other plan parameter and benefits.

Minimum entry age is 12 years and maximum is 60 years.

Minimum PPT is 5 and maximum is 55 years.

Minimum SA is 50,000 and max is No Limit.

Premium payment all Qly/Yly/H-ly/Mthly.

Loan benefit.

Eg: Following table illustrate maturity benefit for a person of age 30 taking policy with PPT of 25 years with double accidental death benefit.Term of policy would be 50 years as he would reach age of 80 after 50 years.

He needs to pay premium till he attain age of 55 years.




Yearly prm



Total Prm



Maturity Benefit on 80th year




Bonus @ 70/1000



FAB @ 1850/1000



Total amount(apx.)



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