Life Insurance Corporation of India (LIC) has launched a new plan for the people. Announcing this plan, the insurance company has said that it will be considered effective from the day it is launched. It is a non-linked, non-participating, individual, savings life insurance plan that combines protection and savings. LIC has named this plan as Dhan Sanchay Policy.
The corporation said that the scheme gives guaranteed income benefit during the payout period from the date of maturity and guaranteed terminal benefit payable along with the last installment of GIB. Dhan Sanchay Yojana is available for a minimum tenure of 5 years to a maximum of 15 years. This plan offers Level Income Benefit, Increasing Income Benefit, Single Premium Level Income Benefit and Single Benefit.
guaranteed return
Guaranteed returns will be given to the policyholder under this policy. Also, this amount will be payable as Guaranteed Terminal Benefit, which will be given on the completion of the maturity period of the policy holder.
death benefit
In case of unfortunate death of a policyholder, the plan will provide financial assistance to the family during the term of the policy after the commencement of the policy. The death benefit will be paid in lump sum or as installments over a period of 5 years, as per your choice.
loan facility
In this policy, loan facility is given to the policyholder. The scheme takes care of liquidity through credit facilities. Optional with additional payment available.
how much will be the sum insured
The minimum Sum Assured for options A and B is Rs.3,30,000. Whereas option C is Rs 2,50,000 and option D is Rs 22,00,000. There is no maximum premium limit. The minimum age of admission is 3 years depending on the option chosen.
How to buy this insurance plan
If you want to buy this insurance plan, then you can buy it by visiting LIC website, offline – through LIC branch and agent.