LIC Dhan Rekha: Life Insurance coverage Company of India (LIC) has a number of plans in its kitty and certainly one of them is LIC Dhan Rekha Plan 863. It is a non-linked, non-participating, particular person, financial savings and life insurance coverage plan which comes with both a one-time funding possibility or a yearly premium fee alternative. LIC says that the Dhan Rekha plan presents a most assured addition of Rs 60 per thousand primary sum-assured. This plan supplies monetary help for the household in case of the unlucky demise of the policyholder through the coverage time period. “Periodic funds may even be made on survival of the policyholder at specified durations through the coverage time period and assured lump sum funds to the surviving policyholder on the time of maturity,” reads the coverage brochure.
On the life assured surviving to every of the required period through the coverage time period, supplied coverage is in power, a hard and fast proportion of the Primary Sum Assured shall be payable. If the coverage time period is 20 years, the investor will get 10% of the Primary Sum Assured on the finish of every of the tenth and fifteenth coverage years. If the coverage time period is 30 years, the investor will get 15% of the Primary Sum Assured on the finish of every of the fifteenth, twentieth and twenty fifth coverage years. Within the case of a 40-year coverage, 20% of the Primary Sum is Assured on the finish of every of the twentieth, twenty fifth, thirtieth and thirty fifth coverage years.
Different rider advantages like LIC’s Unintended Loss of life and Incapacity Profit Rider and LIC’s New Time period Assurance Rider shall be out there beneath this plan and the policyholder can go for these riders on the inception provided that the mode of subscription is single premium fee.
LIC Dhan Rekha Funding and Maturity Calculator
Suppose you’re investing on this plan on the age of 30 years and the coverage premium time period can also be 30 years, you’ll have to pay a single premium of Rs 6,70,650 for a primary sum assured of Rs 10,00,000 and a demise sum assured of Rs 12,50,000. Nevertheless, the maturity profit for the survivor on the finish of the thirtieth 12 months will probably be Rs 23 lakhs. If the policyholder dies within the thirtieth 12 months, the nominee will get Rs 25,50,000.
Nevertheless, within the case of a yearly premium for an individual of the identical age and similar coverage time period, the premium fee time period will probably be for 15 years and the annual premium will probably be Rs 73,342. The return stays the identical – Rs 23 lakh for survivors and Rs 25,50,000 for nominees on the finish of the thirtieth 12 months.