Policyholders of LIC beware! Check the end date and plan information since LIC will shortly discontinue this insurance.

 

LIC Policy: LIC will shortly end one of its well-liked policies. This is your last opportunity to invest in such a situation if you also wish to do so. Give us the policy's specifics.


LIC Plan: Life Insurance Corporation of India, the biggest and most established company in the Indian insurance industry, frequently introduces new varieties of plans (LIC Policy) for its clients. These plans were created to meet the requirements of various classes. Recently, LIC Chairman MR Kumar said that one of the company's specific policies would shortly be discontinued.

The LIC Dhanvarsha Yojana is the name of this policy. This policy is valid through the end of this quarter, or March 31, 2023. Then, the event will be over. This policy's unique feature is that it has a single premium. Come, we'll explain the specifics of this plan to you (Dhan Varsha Yojana).

Understanding the LIC Dhan Varsha insurance

The Dhan Varsha Yojana is a non-linked, single-premium insurance plan with individual savings components. You gain the advantages of security and savings by investing in it. The nominee receives the death benefit in the event of the untimely death of another policyholder. The unique feature of this strategy is that it eliminates the burden of making repeated premium deposits. There are two ways you can invest in it. Let's discuss it:

learn about both possibilities

You have the choice to invest in a total of two possibilities according to the LIC Dhan Varsha plan specifics. In the first, you can receive up to 1.25 times your premium back. If you only pay a single of premium of Rs. 10 lakh in this situation, the nominee will receive a death benefit of Rs. 12.5 lakh. In addition, you may receive a return of up to 10 times the original amount upon the death of the policyholder. In this instance, your investment of Rs. 10 lakh will provide a return of Rs. 1 crore.

What rate of return will be offered upon maturity?

On the other hand, a policy holder receives the benefit of Guaranteed Additions in addition to the Basic Sum Assured if they live to the plan's maturity.

At the conclusion of each year, the policy is credited with these assured returns, which the policyholder will receive upon maturity.

Understanding the unique elements of the policy

• You can purchase this insurance for ten or fifteen years.

• Both offline and online purchasing options are available for this coverage. Go to www.licindia.in to purchase a policy online.

• The minimum and maximum ages to purchase a policy for a term of 15 years are 3 and 60 years, respectively. Contrarily, for a period of ten years, the minimum age is eight and the maximum age is 40 years.