LIC Dhan Sanchay Plan details

A non-linked, non-participating insurance plan is the Dhan Sanchay Plan. In addition to savings convenience, it offers security. It offers a guaranteed income benefit starting on the maturity date and continuing through the payout period.

Highlights:

·        It provides guaranteed income benefit for the payout period from the date of maturity.

·        The Dhan Sanchay plan from LIC is for five to fifteen years.

·        The income will keep accruing for as much number of years as for number of years the premium is paid.

 

Life Insurance Corporation of India (LIC) is not only the largest insurance firm in the country, but it is also considered to be the most trustworthy. Millions of people all over the country choose LIC as their first choice for insurance due to this. From time to time, LIC introduces new policies. LIC established a new policy Dhan Sanchay Plan.

 

Dhan Sanchay Plan is a non-linked, non-participating insurance plan. It provides security as well as the convenience of saving. It provides guaranteed income benefit for the payout period from the date of maturity and guaranteed terminal benefit along with the last tranche of guaranteed income benefit.

 

Policy term can be 5 to 15 years:-

LIC's Dhan Sanchay plan is for 5 years to a maximum of 15 years. This policy provides fixed income benefits. Loan lane facility is also accessible in LIC Dhan Sanchay plan. You can also get riders by paying extra money. This plan also provides financial assistance to the family in the event of the death of the life insured during the continuance of the policy.

 

There are 4 types of plans in the policy

There are a total of four types of plans have been introduced by LIC under the LIC Dhan Sanjay Plan.

Under A and B plans, a payment assured of Rs 3,30,000 is given.

Under Plan C, a minimum sum assured cover of Rs 2,50,000 will be given.

In Plan D there will be sum assured cover of Rs 22,00,000.

The maximum premium limit has not been determined for these plans. The age requirement to purchase the policy should be three years. Four options are available for this.

The maximum age

·        50 years in Option A and Option B,

·        65 years in Option C and

·        40 years in Option D.

 

The more years you pay the fee, the more years you will earn

 

This policy has a premium payment period of 5 years to 10 years and 15 years. The income will keep accruing for the following number of years for the number of years the premium is paid.

If you take a premium paying plan for 10 years, then you will continue to get regular income for 10 years in the future. There is no maximum premium cap for this policy; the minimum premium is Rs 30,000 annually.

On the death of the account holder during the policy, a minimum sum assured of Rs 2.50 lakh will be available while the maximum amount can be received is Rs 22 lakh.