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PLAN FEATURES
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Minimum Age
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3 years (completed)
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Maximum Age
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Option A &Option B : 50 Years (nearer birthday)
Option C: 65 Years (nearer birthday)
Option D: 40 Years (nearer birthday)
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Maximum Maturity Age
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Option A &Option B :65 Years (nearer birthday)
Option C: 80 Years (nearer birthday)
Option D: 55 Years (nearer birthday)
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Plan Term
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Option A &Option B :10 &15 years
Option C &Option D : 5, 10 &15 years
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Premium Term
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5 & 10 years for 10 Year Policy Term.
5, 10 &15 years for 15 Year Policy Term.
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Option A &Option B :30,000
Option C &Option D : 2,00,000
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Minimum Premium
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No Limit
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Rider Available
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Accidental Death &Disability / Accidental Death, Term
Rider, Critical Illness Rider, Premium Waiver Benefit
Rider
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Maturity benefit shall be payable in the form of
Guaranteed Income Benefit and Guaranteed Terminal
Benefit.
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Policy Surrender
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Single Premium – Allowed any time during the policy
term
Limited Premium -Allowed after 2 full year premium
payment
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Loan On Policy
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Single Premium – After 3 months from completion of
the policy or after expiry of the free-look period
whichever later
Limited Premium – Available After 2 full year
premium payment
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Tax Benefit
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Option A &Option B: "Sum Assured on Death” shall
be higher of 11 times of “Annualized Premium”; or
“Sum Assured on Maturity”; or 105% of total
premiums paid up to the date of death.
Option C:“Sum Assured on Death” shall be higher of
1.25 times of “Single Premium".
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Who can buy LIC Dhan Sanchay ?
It is a savings cum insurance product created by the LIC of India to offer a regular income stream to the policyholders for a specific period. The insurance aspect takes care of the financial needs of dependents if the life assured passes away during the policy term.
Benefits of Dhan Sanchay ?
Riders can help you enhance the coverage under the policy so that your family gets a bigger corpus. These come at nominal extra premiums. Some riders available with Dhan Sanchay are –
LIC’s Accidental Death and Disability Benefit Rider – If death occurs due to an accident, nominees can claim the rider benefit amount along with the original sum assured. If the accident leads to a disability, LIC will pay the rider benefits in installments over 10 years.
LIC’s Accident Benefit Rider – As the name suggests, this rider offers a lump sum extra amount if the life assured dies as a result of an accident.
LIC’s New Term Assurance Rider – During the rider term, if the life assured dies, your family can claim the additional sum assured under this rider along with the promised death benefit amount.
LIC’s New Critical Illness Benefit Rider – Diagnosis and treatment of critical illnesses can be damaging for your savings. With this rider, you get an extra sum assured if you are diagnosed with any of the specified critical illnesses.
LIC’s Premium Waiver Benefit Rider – This rider is particularly helpful if the policy is in the name of a child. This way, on your death, all the remaining premiums will be waived off without affecting the financial support for the family.