LIC Dhan Sanchay Policy is a wealth accumulation policy offered by Life Insurance Corporation of India (LIC), the largest and oldest insurance company in the country. This non-linked, participating, individual, savings plan life insurance policy offers guaranteed income benefits to investors during the policy term before maturity.
The policy is available for a period of 5 to 15 years and provides loan facility to the policy holder. The family of the policy holder is also eligible for death benefit in case of death of the policy holders during the policy term.
Some of the benefits of LIC Dhan Sanchay policy include: Death benefit options include lump sum or 5 year installments, maturity benefit includes guaranteed income and terminal benefit. If the policyholder passes away during the payout period, the nominee continues to receive the income.
This policy offers four investment options namely A, B, C and D. In Option A and B, the minimum sum assured is Rs 3,30,000, in Option C it is Rs 2,50,000, and in Option D, it is Rs 22,00,000. The minimum age to invest in this policy is 3 years, and the maximum age limit varies according to the option, in which A and B have a maximum age limit of 50 years, C has a limit of 65 years, and D has a limit of 40 years.
Investors can choose a policy term of 5, 10 or 15 years and will receive returns for the same number of years. The minimum premium for this policy is Rs 30,000 annually. In case of death of the policy holders, the minimum death benefit is Rs 2.50 lakh and the maximum is Rs 22 lakh.
Disclaimer: This post has been auto-published from an agency/news feed without any modifications to the text and has not been reviewed by an editor.