LIC Single Premium Plan V/S Fixed Deposit

LIC'S Single Premium Endowment Plan ( table no.817) :
LIC's Single Premium Endowment Plan is a participating non-linked saving cum protection plan, where the premium is paid in a lump sum at the outset of the policy. This combination provides financial protection against death during the policy term with the provision of payment of lump sum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.
Features:
1. Sum Assured - this is the amount of coverage that you want. You have to choose a minimum of Rs. 50,000. There is no upper limit.
2. Policy Term - this is the period for which you wish to have the cover. You can choose a policy term between 10 to 25 years.
3. In case of death of the policyholder at any time during the policy term, the nominee will receive the sum of the following:
Sum Assured
Simple Reversionary Bonus which has been declared will date
Final Addition Bonus if declared in that year
4. In case the policyholder is less than 8 years of age, the death coverage will start either 2 years from the date of commencement or from the policy anniversary coinciding with or immediately following the attainment of 8 years of age, whichever is earlier. For those aged 8 years or more at the time of taking the policy, death cover will start immediately. In case of death of the policyholder, before the death coverage has started, the single premium minus the taxes would be paid to the nominee.
Fixed Deposit Video link:
https://youtu.be/0sbNCaibZY4
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