LIC’s Dhan Rekha is a non- linked, non- participating term assurance policy preferred by the LIC. This policy aims to provide monetary support to the policy holder’s family in case of the policyholder’s unfortunate passing.
Advantages of this Policy –
The policy proffers many advantages and benefits to its member that make it a right option for the people who are seeking for a term insurance plan. Here Check some Benefits –
- High life cover – It proffers a high life cover at low- cost premiums.
- Flexibility – This policy proffers flexibility in terms of premium payment options, with members getting the option to choose either single premium payment or regular premium payments.
- Add- on riders – This policy also provides Add- on rider’s facility that policyholders can select to increase their coverage such as, Accidental Death Benefit Rider, Disability Benefit Rider and Critical Illness Rider.
- Tax benefits – Their members can also opt for tax benefits under section 80C of the Income Tax Act, 1961 for premium pricings made concerning LIC’s Dhan Rekha Plan.
Also Read :-EPFO Member can apply for Enhanced Pension Benefits till 3th May – Here Check 5 Reasons to Apply
Eligibility to Apply for this Policy
- Interested people should visit the nearby LIC branch or apply online via LIC website.
- An Individuals needs to fill the relevant forms, submit required document and paying the premium amount.
- After its issue once the application is processed and accepted by LIC.
Here is How to Receive a Sum Assured of 1 Crore
To Understand the plan better let us take a look at this example, suppose Mr. a 35 year old man living with his family and he is the only Income producer of his family and looking for a financial security in his absence. He opted for LIC’s Dhan Rekha plan to help his absence with a high live cover at affordable premiums. He decided to pay the premium amount of Rs 10,000 per year for a sum assured of Rs 50 lakhs and to increase his coverage he also opted for the Accidental Death Accidental Benefit Rider.
Unfortunately, Mr. ABC meets with an accident and dies as the age of 40. His family under this plan will receive the sum assured of Rs 50 lakhs and also they will get the Accidental Death Benefits of another 50 lakhs, as Mr. ABC has opted for the rider benefits.
