Life Insurance Corporation of India (LIC) has come up with a new plan for the customers. This scheme provides financial assistance to the family of the person in case of his unfortunate death. LIC informed that this plan is a non-linked non-participating individual savings and single premium life plan. Settlement option of the scheme Settlement option is available at monthly/quarterly/half-yearly/yearly intervals. Know from when you can invest.
Government Insurance Company Life Insurance Corporation of India (LIC) today launched a new close-ended scheme Dhan Vridhi (Dhan Vridhhi). LI issued a statement saying that this new plan will be on sale for customers from June 23 to September 30.
This scheme provides financial assistance
LIC said Dhan Vriddhi plan is a non-linked, non-participating, individual, savings, single premium life plan, which offers a combination of protection and savings.
This plan provides financial support to the family in the event of unfortunate death of the life assured during the policy term. It also provides a guaranteed lump sum amount to the life assured on the date of maturity.
Sum insured can be up to 10 times
This plan of LIC comes with two options. In which the Sum Assured on Death can be either 1.25 times or in the second option 10 times. If you want to take advantage of this scheme then your maximum age should be from 32 to 60 years depends on the period selected.
The minimum age for this plan is available for 10, 15 and 18 years and the minimum age at entry ranges from 90 days to 8 years, depending on the tenure chosen.
What will be the minimum amount?
The plan offers a minimum basic sum assured of Rs 1,25,000 and can be opted for in multiples of Rs 5,000.
Guaranteed additional amount will be available at the end of each policy year, during the entire policy term, and will range from Rs.60 to Rs.75 in Option I and Rs.25 to Rs.40 for every Rs.1,000 of Basic Sum Assured in Option II . For higher sum assured, higher is the guaranteed additional amount.
What is settlement option?
Settlement option available at monthly/quarterly/half-yearly/yearly intervals for five years on maturity/death. The plan also provides liquidity through loan facility, which is available anytime after three months from the completion of the policy.
