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DHAN REKHA PLAN

LIC's DHAN REKHA PLAN (PLAN NO. 863)

LIC’s Dhan Rekha is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan which offers an attractive combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder during the policy term.

KEY FEATURES OF DHAN REKHA PLAN

  • Death Benefit payable on death during the policy term after the date of commencement of risk shall be “Sum Assured on Death” along with Accrued Guaranteed Additions.
  • For Single premium payment, “Sum Assured on Death” is defined as 125% of Basic Sum Assured.
  • For Limited premium payment, “Sum Assured on Death” is defined as the higher of 125% of Basic Sum Assured or 7 times of annualized premium.
  • The Death Benefit under Limited Premium payment shall not be less than 105% of total premiums paid excluding any extra premium, any rider premium(s), if any, and taxes as on date of death.
  • However, in case of minor Life Assured, whose age at entry is below 8 years, on death before the commencement of Risk (as specified in Para 2 below), return of premium(s) paid excluding taxes, any extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any, shall be payable.

DEATH CLAIM BENEFITS

The death benefit payable on death during the policy term after the date of commencement of risk will be “Sum Assured on Death” along with Accrued Guaranteed Additions.

SURVIVAL BENEFITS

On the life assured surviving to each of the specified duration during the policy term, provided policy is in-force, a fixed percentage of Basic Sum Assured shall be payable. The fixed percentage for various policy terms is as below:

20 years – 10% of the Basic Sum Assured at the end of each of 10th and 15th policy year.

30 years – 15% of the Basic Sum Assured at the end of each of 15th, 20th and 25th policy year.

40 years – 20% of the Basic Sum Assured at the end of each of 20th , 25th ,30th and 35th policy year.

MATURITY BENEFITS

The interested individuals must know that on life assured surviving the stipulated date of maturity provided the policy is in-force, “Sum Assured on Maturity” along with accrued guaranteed additions, will be payable where “Sum Assured on Maturity” is equal to Basic Sum Assured.

ELIGIBILITY CRITERIA OF DHAN REKHA

  • Minimum Basic Sum Assured: Rs 2,00,000
  • Maximum Basic Sum Assured: No limit
  • (Basic Sum Assured shall be in multiples of Rs 25,000)
  • Policy Term: 20 years, 30 years and 40 years (20 years in case of policies procured through POSP-LI/CPSC- SPV l)
  • Premium Paying Term: Single Premium: Not Applicable Limited Premium, 10 years for Policy Term 20 years, 15 years for Policy Term 30 years, 20 years for Policy term 40 years
  • Minimum Age at Entry: 8 years (Completed) for Policy Term 20 years, 3 years (Completed) for Policy Term 30 years, 90 days (Completed) for Policy Term 40 years.