LIC Dhan Rekha is a life insurance coverage plan, and non-equity-linked coverage, which is providing safety and financial savings to the policyholders and their relations. The Dhan Rekha plan pays a proportion of the fundamental sum assured as a survival profit at common intervals of the premium-paying time period. All advantages underneath the LIC Dhan Rekha plan are totally assured. Whereas there are particular premium charges for ladies, the coverage can be allowed for the third gender.
LIC Dhan Rekha Plan: Who’s Eligible?
Relying on the coverage time period, the minimal age to enter ranges from 90 days to eight years. Relying on the coverage time period, the utmost age on the entrance can vary from 35 to 55 years previous.
LIC Dhan Rekha Plan: Minimal Sum Assured
Beneath the LIC Dhan Rekha plan, the minimal sum assured is Rs 2 lakh, with no higher restriction on the utmost sum assured. The fundamental sum assured will probably be in multiples of Rs 25,000, of the stated quantity.
LIC Dhan Rekha Plan: Maturity Profit
On the life assured surviving to every coverage time period, a hard and fast proportion of the fundamental sum assured will probably be paid. For 20 years of the coverage time period, the survival profit will probably be 10 per cent of the fundamental sum assured on the finish of every of the 10th and 15th coverage years.
For 30 years of the coverage time period, the survival profit will probably be 15 per cent of the fundamental sum assured on the finish of every of the 15th, 20th, and 25th coverage years.
For 40 years of the coverage time period, the survival profit will probably be 20 per cent of the fundamental sum assured on the finish of every of the 20th, 25th, 30th, and 35th coverage years. On maturity, the sum assured on maturity together with the accrued assured additions, will probably be paid, the place will probably be equal to the fundamental sum assured.
Dying Good thing about LIC Dhan Rekha Plan
As per LIC, the demise profit will probably be paid by the company on demise through the coverage time period, would be the Sum Assured on Dying together with Accrued Assured Additions. Moreover, for Single premium funds, the Sum Assured on Dying will probably be 125 per cent of the Fundamental Sum Assured. Nonetheless, for the restricted premium fee, the Sum Assured on Dying will probably be larger of 125 per cent of Fundamental Sum Assured or 7 instances of annualized premium. The Dying Profit underneath Restricted Premium fee won’t be lower than 105 per cent of whole premiums paid. For the minor policyholders, whose age at entry is under eight years, on demise earlier than the graduation of Threat, return of premium(s) paid excluding taxes.
A policyholder’s household can apply for the demise profit in installments over a selected interval of 5 years as an alternative of a lump sum quantity. The month-to-month installment will probably be Rs 5,000, the quarterly installment will probably be Rs 15,000, the half-yearly installment will probably be Rs 25,000, and the yearly installment will probably be Rs 50,000.
LIC Dhan Rekha Plan: Mortgage Facility
This plan additionally features a mortgage facility to fulfill liquidity necessities. Optionally available riders can be found underneath this plan for an additional value, nonetheless, there will probably be some restrictions, acknowledged LIC. The plan might be bought each offline and on-line via brokers/intermediaries similar to POSPLI/Widespread Public Service Centres (CPSC-SPV) and the web site www.licindia.in.