LIC Policy is popular among many Indians. Even today one or the other person is seen in every household taking advantage of its policy. Let’s know about its money line policy…
Life Insurance Corporation (LIC) is one of the largest insurance companies in India. LIC offers a number of insurance plans that cater to the needs of individuals. LIC offers term insurance, endowment plans, money-back policies, life plans and more. Additionally, it offers special plans like family, retired and group insurance plans. Here we are telling about LIC’s Dhan Rekha Policy, let’s know.
What is LIC money line policy?
LIC Dhan Rekha Policy is a money-back plan that pays recurring amounts to policyholders. Provides benefits such as the final amount to which you are entitled as increased by the guaranteed enhancements included with the death and maturity benefits.
The plan provides financial assistance to the family in case the policyholder passes away during the term of the policy.
During the policy term, periodic payments can also be made at pre-determined intervals on the survival of the policyholder, and a guaranteed lump sum payment at maturity can be given to the surviving policyholder. It also addresses the issue through credit facilities.
What is the eligibility for LIC money line policy?
Basic Sum Assured – Rs 10 Lakh
Policy Term – 20 Years
Premium Paying Term – 10 Years
Guaranteed Addition from 6th Year – Rs 50 per Rs 1000 Sum Assured
How to Calculate LIC Money Line
For example, you invest in the plan at the age of 30 and pay a premium of Rs 8,754 annually for the sum assured. Additionally, you opt for the Accidental Death Benefit rider. Unfortunately you meet with an accident at the age of 40. In this case, under this plan, your family will get a sum assured of Rs.50 lakh and they will also get an accidental death benefit of Rs.50 lakh.
