LIC Dhan Rekha Plan 863: All You Wanted to Know

LIC Dhan Rekha Plan 863: All You Wanted to Know - Sakshi Post

The Life Insurance Corporation of India has introduced a new plan, Dhan Rekha, with effect from December 13th, 2021, which is a Non-Linked, Non-Participating, Individual Savings Life Insurance Plan. The product has various benefits and unique features. There are special premium rates for females only. A third gender plan is allowed. All benefits under the plan are fully guaranteed.

The plan provides a percentage of the basic sum assured as a survival benefit at regular intervals starting from the end of the premium-paying term, provided the policy is in force. Guaranteed Additions will accrue at the end of each policy year beginning with the sixth policy year and continuing until the end of the policy term, assuming the policy is in force. The unique benefit of this plan is that on maturity, the policyholder receives the full sum assured without deduction of the money-back amount received along with accrued Guaranteed Additions. This plan provides financial support for the family in the event of the unfortunate death of the policyholder during the policy term. The Death Sum Assured for a Single Premium is 125% of the Basic Sum Assured plus Guaranteed Additions. For limited payment premiums, the death sum assured is 125% of the basic sum assured or 7 times the annualised premium, whichever is higher, but not less than 105% of all the premiums paid up to the date of death along with Guaranteed Additions. There is a provision to receive the maturity and death benefits in instalments for five years instead of a lump sum. The premium can be a single premium or limited premium payment term of 10 years, 15 years, or 20 years. This plan also takes care of liquidity needs through a loan facility. Optional riders are available under this plan on payment of an additional premium, subject to conditions.

The minimum sum assured under this plan is Rs. 2 lakhs and there is no limit for the maximum sum assured. The minimum age at entry ranges from 90 days to 8 years, as per the chosen policy term. The maximum age at entry ranges from 35 years to 55 years, depending upon the chosen policy term. The plan is available for purchase in offline mode through agents/intermediaries including POSPLI/Common Public Service Centres (CPSC-SPV) or by visiting the LIC official website.

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