#LIC’s #DhanRekha 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. Periodic payments will also be made on survival of the policyholder at specified duration's during the policy term and guaranteed lump sum payments to the surviving policyholder at the time of maturity.This plan also takes care of liquidity needs through loan facility.
Eligibility Conditions and Other Restrictions:
a) Minimum Basic Sum Assured : Rs. 2,00,000
b) Maximum Basic Sum Assured (Basic Sum Assured shall be in multiples of : No limit Rs 25,000/- )
c) Policy Term : 20 years, 30 years and 40 years.
d) 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
e) 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
f) Maximum Age at Entry :
Single Premium 60 years (Age Nearer Birthday) for Policy Term 20 years
50 years (Age Nearer Birthday) for Policy Term 30 years
40 years (Age Nearer Birthday) for Policy Term 40 years
Limited Premium 55 years (Age Nearer Birthday) for Policy Term 20 years
45 years (Age Nearer Birthday) for Policy Term 30 years
35 years (Age Nearer Birthday) for Policy Term 40 years
g) Minimum Age at Maturity : 28 years (Completed) for Policy Term 20 years, 33 years (Completed) for Policy Term 30 years, 40 years (Completed) for Policy Term 40 years
h) Maximum Age at Maturity : Single Premium: 80 years (Age Nearer Birthday), Limited Premium: 75 years (Age Nearer Birthday) (65 years (Age Nearer Birthday)
Survival Benefit: 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:
Policy Term(in years) Payment of Survival Benefit
20 - 10% of the Basic Sum Assured at the end of each of 10th and 15th policy year.
30 - 15% of the Basic Sum Assured at the end of each of 15th, 20th and 25th policy year.
40 - 20% of the Basic Sum Assured at the end of each of 20th , 25th ,30th and 35th policy year.
Maturity Benefit:
On Life Assured surviving the stipulated Date of Maturity provided the policy is in-force, “Sum Assured on Maturity” along with accrued Guaranteed Additions, shall be payable. Where “Sum Assured on Maturity” is equal to Basic Sum Assured.
Guaranteed Additions:
Guaranteed Additions shall be payable, provided the policy is in-force by payment of due premiums.The Guaranteed Additions shall accrue at the end of the Policy Year from the 6th Policy Year to the end of the Policy Term. The rate of Guaranteed Additions shall increase in steps with the duration of the policy as specified below:
Policy Duration (in years) Guaranteed Additions (per Rs 1000 Basic Sum Assured)
From 6th to 20th - Rs 50
From 21st to 30th - Rs 55
From 31st to 40th - Rs 60
In case of death under in-force policy, the Guaranteed Addition in the year of death shall be for full policy year.
In case of limited premium policy, if the premiums are not duly paid, the Guaranteed Additions shall cease to accrue under a policy.
In case of a paid-up policy or on surrender of a policy, the Guaranteed Addition for the policy year in which the last premium is received will be added on proportionate basis in proportion to the premium received for that year
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