LIC Dhan Sanchay Saving Plan: LIC keeps on coming up with new plans from time to time. Recently a new plan named Dhan Sanchay Saving Plan has been introduced. With this scheme you can get 22 lakh rupees. Know full details..
Life Insurance Corporation of India (LIC) is the largest and most trusted insurance company in the country. LIC keeps on coming up with new benefit plans for its customers from time to time. LIC has recently introduced a non-linked, individual savings life insurance plan named Dhan Sanchay Saving Plan. This plan offers both protection and savings.
Five things to know about the policy
1. The plan offers Guaranteed Income Benefit during the payout period from the date of maturity and Guaranteed Terminal Benefit payable along with the last installment of the Guaranteed Income Benefit.
2. This plan is available for a minimum period of five years to a maximum of 15 years. It offers Single Premium Enhanced Cover with Level Income Benefit, Increasing Income Benefit, Single Premium Level Income Benefit and Level Income Benefit as per the choice of the customer. The minimum sum assured under this plan for option A and B is Rs 3,30,000, option C is Rs 2,50,000. Option D is Rs 22,00,000. There is no maximum premium limit. The minimum age of entry is three years (completed) depending on the policy term chosen.
Know About Maturity benefit
3. Maturity Benefit is payable through Guaranteed Income Benefit and Guaranteed Terminal Benefit. The plan provides financial assistance to the family in case of unfortunate death of the policyholder during the policy term after the commencement of risk.
4. The insurer shall pay the death benefit in lump sum or, at the option exercised by the policyholder, may take the death benefit in installments for up to five years.
Know About Loan facility
5. The scheme also provides liquidity requirement through loan facility. Optional riders are available under this plan on payment of additional premium subject to conditions. Under a current and paid-up policy, a settlement option is available to receive the death benefit in installments for five years instead of lump sum.
