LIC's Dhan Sanchay (Table No. 865)
INTRODUCTION :- LIC’s Dhan Sanchay Plan (Table no. 865) is a Non-linked, Non-participating, Individual, Savings, Life Insurance Plan. This is an attractive combination of savings and protection. This plan provides financial support to the family in case of unfortunate death of the life assured during the policy term. The benefits and other basic features of the plan are given below.
Basic Eligibility Conditions and Features of LIC’s Dhan Sanchay (Table no. 865): –
A) Minimum Entry Age:- 3 years (completed) for Policy Term 15 years
8 years (completed) for Policy Term 10 years
13 years (completed) for Policy Term 5 years
B)Maximum Entry Age
Option A & Option B:- 50 years (nearer birthday)
Option C:- 65 years (nearer birthday)
Option D:- 40 years (nearer birthday)
C) Minimum Maturity Age:- 18 years (completed)
D) Maximum Maturity Age:-
Option A & Option B:- 65 years (nearer birthday)
Option C:- 80 years (nearer birthday)
Option D:- 55 years (nearer birthday)
E) Policy Term Option A & Option B:- 10 & 15 years
Option C & Option D:- 5, 10 & 15 years
F) Premium Paying Term:-
(For Regular / Limited premium) – 5 & 10 years for 10-year Policy Term.
5, 10 & 15 years for 15-year Policy Term.
G) Payout Period Option A & Option B:- Equal to Premium Paying Term
Option C & Option D:- Equal to Policy Term
H) Minimum Annualized / Single
Premium Option A & Option B:- Rs. 30,000
Option C & Option D:- Rs. 2,00,000
I) Maximum Premium:- No limit
J) Minimum Sum Assured on Death:-
Option A & Option B:- Rs. 3,30,000
Option C:- Rs. 2,50,000
Option D:- Rs. 22,00,000
K) Maximum Sum Assured on Death:- No limit (Policyholder can choose the Annualized Premium / Single Premium in multiples of Rs 1,000)* L) Death Benefit:-
Option A & B:- Risk cover will be higher of 11 times of Annualized Premium OR “Sum Assured on Maturity” OR 105% of total premium paid.
Option C:- “Sum Assured on Death” shall be higher of 1.25 times of “Single Premium” or “Sum Assured on Maturity”.
Option D:- “Sum Assured on Death” shall be 11 times of “Single Premium”
M) Maturity Benefit:-
➢ Guaranteed Payout Stream during the payout period from the Date of Maturity in the form of GIB
➢ Guaranteed Terminal Benefit on the last payout