LIC rolls out Dhan Rekha plan: Know features, sum assured, maturity and other benefit details here

LIC Dhan Rekha Plan: The individuals, who are looking for an insurance, must note that the Life Insurance Corporation of India (LIC) has introduced the new Dhan Rekha plan with effect from December 13, 2021. All the benefits are fully guaranteed under this plan. The interested individuals can login to the official website of LIC at licindia.in.

See Zee Business Live TV Streaming Below:

LIC has recently tweeted about the details of the plan from its official Twitter handle.

pic.twitter.com/3n69NCVIjE

— LIC India Forever (@LICIndiaForever) December 14, 2021

Dhan Rekha Plan
LIC’s Dhan Rekha is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan which offers an attractive combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder during the policy term.

The customers must also note that the periodic payments will also be made on survival of the policyholder at specified durations during the policy term and guaranteed lumpsum payments to the surviving policyholder at the time of maturity. This plan also takes care of liquidity needs through loan facility.

Sum assured
The interested individuals must note that the minimum basic sum assured under the plan is Rs 2,00,000. There is no limit to the maximum amount.

Maturity benefits
The interested individuals must know that on life assured surviving the stipulated date of maturity provided the policy is in-force, “Sum Assured on Maturity” along with accrued guaranteed additions, will be payable where “Sum Assured on Maturity” is equal to Basic Sum Assured.

Survival benefits
On the life assured surviving to each of the specified duration during the policy term, provided policy is in-force, a fixed percentage of Basic Sum Assured shall be payable. The fixed percentage for various policy terms is as below:

20 years - 10% of the Basic Sum Assured at the end of each of 10th and 15th policy year.

30 years - 15% of the Basic Sum Assured at the end of each of 15th, 20th and 25th policy year.

40 years - 20% of the Basic Sum Assured at the end of each of 20th , 25th ,30th and 35th policy year.

Death benefits
The 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.

Now, for single premium payment, “Sum Assured on Death” is defined as 125% of Basic Sum Assured. For limited premium payment, “Sum Assured on Death” is defined as the higher of 125% of Basic Sum Assured or 7 times of annualized premium.

The Death Benefit under Limited Premium payment will not be less than 105% of total premiums paid excluding any extra premium, any rider premium(s), if any, and taxes as on date of death.

In case of further queries and details, the interested individuals can login to the official website of LIC at licindia.in.