LIC, India’s Insurance behemoth, offers a chance to secure his or her future to every citizen of India while providing numerous insurance and investment products like term insurance plans, whole life insurance, money-back policies, retirement plans, child care plans etc. From a new born to an 80-year-old elder, LIC makes sure to benefit people of every age group with its highly profitable policy schemes. So, in this blog, we are going to discuss one very beneficial scheme named LIC Dhan Rekha Plan.
Details About LIC Dhan Rekha Plan
LIC Dhan Rekha Plan is a non-linked and non-participating individual life insurance plan that also offers savings benefits. This scheme has two in one offer which not only provides protection but also enables you to create wealth with savings. However, the major advantage of this plan focuses on offering financial support to the family of a policyholder after untimely death during the policy term.
Policyholders if get’s survive then will be eligible to receive periodic payments during the term plan. Moreover, they will also receive lump sum payments at the time of maturity. Whereas for liquidity problems you can always rely on getting a loan against the policy.
“LIC’s Dhan Rekha is available with payment of Single Premium and Limited Premium Payment terms of 10 years, 15 years and 20 years. Along with this, special premium rates have been fixed for women in this policy. If these policies are taken in the name of women, then the premium rates are less,” mentioned News18.
Death Benefits of LIC Dhan Rekha Plan
“Death Benefit payable on death during the policy term after the date of commencement of risk will be “Sum Assured on Death” along with Accrued Guaranteed Additions; where:”
-For Single Premium, “Sum Assured on Death” is defined as 125% of Basic Sum Assured.
-For Limited Premium, “Sum Assured on Death” is defined as the higher of 125% of Basic Sum Assured or 7 times of annualised premium.
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Survival Benefits of LIC Dhan Rekha Plan
| Policy Term (IN YEARS) | Survival Benefit Payments |
| 20 | “10% of the Basic Sum Assured at the end of each of 10th and 15th policy year.” |
| 30 | “15% of the Basic Sum Assured at the end of each of 15th, 20th and 25th policy year.” |
| 40 | “20% of the Basic Sum Assured at the end of each of 20th, 25th, 30th and 35th policy year.” |
My birthday is 1/1/1960.i am family pension holder.can I have this plan?