LIC Dhan Sanchay Plan 865 : Benefits, Eligibility, Maturity, Calculator

LIC Dhan Sanchay Plan 865 : Benefits, Eligibility, Maturity, Calculator

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Life Insurance Corporation of India (LIC) is not only the largest insurance company in the country but it is also considered the most trusted. This is the reason why LIC is the first choice for insurance for millions of people in the country. LIC keeps on introducing new policies from time to time for the policy holders. LIC has introduced the insurance policy last month. Whose name is LIC Dhan Sanchay Plan. Dhan Sanchay Plan is a non linked, participating insurance plan. It provides insurance protection as well as the convenience of savings.

What is LIC Dhan Sanchay Plan 865?

A non-linked, non-participating, individual savings life insurance plan from LIC, Dhan Sanchay combines savings with protection. In the terrible event that the life assured passes away during the period of the policy, this plan offers cash help to the family. Additionally, it offers a guaranteed income stream starting on the maturity date throughout the Payout Period.

LIC keeps on introducing new plans from time to time for the customers. Once again Life Insurance of India (LIC) has launched a new insurance policy called Dhan Sanchay Plan. The scheme has been opened for investors from June 14, 2022. This means that from June 14 you can invest in it.

Under LIC Dhan Sanchay Plan 865, the family of the holder will get financial assistance in case of death of the policy holder during the term of the policy. Apart from this, after maturity, this policy also gives guaranteed income during the payment term. During this policy, the policy holders are getting many great benefits.

LIC Dhan Sanchay Policy Key Highlights

article name
 LIC Dhan Sanchay Plan
launched
 by Life Insurance Corporation of India (LIC)
beneficiary
 citizens of the country
Objective
 Guaranteed benefits will be given to policy holders
policy term
 Can be taken for 5 to 15 years
Category
 Central Goverment Schemes
year
 2022
official website
 https://www.licindia.in/

Wealth accumulation plan can be taken for 5 to 15 years

Guaranteed benefits will be provided to policyholders during payments made beyond the Dhan Sanchay Plan’s maturity date, per the information provided by LIC for the LIC Dhan Sanchay Plan. The length of a wealth accumulation plan ranges from five to fifteen years. Additionally, Guaranteed Terminal Benefits will be given. The Dhan Sanchay plan would also include the ability to borrow money. Additionally, you can purchase the rights if you choose. Financial support is given to the family in such cases if the covered person passes away while the policy is still in effect.

Four plans in this policy

Plan A- Rs 3,30,000
Plan B- Rs 3,30,000
Plan C- Rs 22,00,000
Plan D- Rs 22,00,000

Death Benefit: “Sum Assured on Death” is the death benefit payable upon the death of a Life Assured during the policy term following the date of beginning of risk but prior to the specified date of maturity. “Sum Assured on Death” is defined as follows for various options:

Option

Sum Assured on Death

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 upto the date of death.

Total premiums paid means total of all the premiums received,

excluding any extra premium, any rider premium and taxes.

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

 

Benefits and Features of LIC Dhan Sanchay Plan

  • A non-linked, reasonable, and individual life insurance policy like the LIC Dhan Sanchay Policy provides you with the advantages of both protection and savings.
  • You can purchase the LIC Dhan Sanchay Plan for a duration of 5 to 15 years, and you will receive both a fixed income benefit and an income benefit that increases as your salary rises.
  • Financial aid is given to the family in this case if the covered person passes away within the term of the policy.
  • Customers who purchase this coverage also receive the single plan and single premium level income benefits.
  • Through this arrangement, you can also get a loan.
  • Additionally, you can exercise your rights by spending more money.
  • You can also visit the nearest branch of LIC or directly on the official website to buy this policy.

What is the eligibility for taking LIC Dhan Sanchay policy?

To take the policy of LIC Dhan Sanchay Yojana, the minimum age of the policy holder should be 3 years, while for Option A and Option B, the age should be 65 years. And to get the benefit of Option D, the age of the policy holder should be 40 years. That is, the age group can invest in LIC Dhan Sanchay policy from 3 years to 40 years.

How to apply for LIC Dhan Sanchay Plan 2023?

To get the benefit of LIC Dhan Sanchay Plan, any interested beneficiary wants to apply under this scheme. So they have to contact their nearest LIC office agent. And you have to go there and tell. That you want to invest in LIC Dhan Sanchay Policy. Then the agent will tell you the terms of the LIC Dhan Sanchay policy. You have to choose the policy as per your wish. Then you have to give all your information and documents to the LIC agent. After which your application form will be filled by the agent. In this way you will be connected to LIC Dhan Sanchay Plan. And will be able to get the benefit of LIC Dhan Sanchay Plan. If you want, to buy LIC Dhan Sanchay policy, you can buy online directly by visiting the official website www.licindia.in.

FAQ – LIC Dhan Sanchay Plan 2023

What is the Dhan Sanchay policy?

A non-participating, non-linked, individual savings life insurance plan called Dhan Sanchay has been developed by the Life Insurance Corporation of India (LIC). In the case of the insured’s untimely death during the policy term, this plan offers financial support to the insured’s family members.

Which insurance company has launched Dhan Sanchay life insurance plan?

Important Information About The LIC Plan 865 Dhan Sanchay Plan
Along with risk coverage, Dhan Sanchay also offers two types of guaranteed benefits: the GIB, or Guaranteed Income Benefit, and the GTB, or Guaranteed Terminal Benefit.

Is Sanchay tax free?

Under sections 10(10D) and 80C of the Income Tax Act of 1961, the maturity procedure and premium paid for the insurance up to a maximum of Rs. 1.5 lakh are exempt from taxation.

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