India’s largest insurance company Life Insurance Corporation of India LIC is just like an exclusive store when it comes to securing your future with a targeted insurance policy. LIC’s portfolio is extremely wide to serve every individual belonging to any age group. Policies are highly effective as the company along with the products are all backed by the Government. Well, whatever LIC offers Indians love it because they know the schemes are risk-free while offering high returns than too with low investments. After Bank FDs and Post office schemes, LIC policies are favoured by us the most. That’s why we have decided to enlighten our readers about a new LIC launched policy which ensures the welfare of the holder’s family in case of sudden death.
About LIC DHAN SANCHAY POLICY
LIC’s Dhan Sanchay Policy is a featured, two-way benefit offering scheme which serves both as a protection and savings. It is an individual savings life insurance program scheme. This new scheme offers a major benefit to the family of the insured in case of his or her sudden death during the active term. It will also serve as an assisting income stream till the date of maturity.
LIC Dhan Sanchay Policy ensures the terminal benefit as well as income benefits till the maturity date during the payout period.
Moreover, “Annualized Premium shall be the premium amount payable in a year chosen by the policyholder excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. Single-Premium shall be the premium amount chosen by the policyholder excluding the taxes, rider premiums, and underwriting extra premiums if any. You can choose the Annualized Premium / Single Premium in multiples of `Rs 1,000.”
Benefits Of Latest DHAN SANCHAY POLICY
“ In case of Regular/ Limited premium payment:
- Option A: Level Income Benefit
- Option B: Increasing Income Benefit
In case of Single premium payment:
- Option C: Single Premium Level Income Benefit
- Option D: Single Premium enhanced cover with Level Income Benefit”.
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As per LIC’s policy documents, “In cases of Options A and B, the minimum sum assured on death of the policyholder under the LIC Dhan Sanchay Policy is Rs `3.30 lakh, while for Option C, it is Rs 2.50 lakh. For option D, which is the Single Premium enhanced cover with Level Income Benefit, the minimum sum assured on death is as much as Rs 22 lakh. “Death benefit payable on the death of Life Assured during the policy term after the date of commencement of risk but before the stipulated date of maturity shall be Sum Assured on Death.”