LIC’s Dhan Varsha is an individual savings life insurance plan that offers a combination of protection and savings. This plan is non-linked and non-participating, providing financial support to the family in the unfortunate event of the life assured’s death during the policy term. Additionally, it guarantees a lump sum amount for the surviving life assured on the maturity date.
You can purchase this plan both offline through agents and other intermediaries, including Point of Sales Persons-Life Insurance (POSP-LI) and Common Public Service Centers (CPSC-SPV), as well as online directly through the website www.licindia.in.
Dhan Varsha Benefits
A Single Premium Plan
In case of the life assured’s death during the policy term after the risk starts but before maturity, the death benefit comprises the “Sum Assured on Death” and Guaranteed Additions. The “Sum Assured on Death” varies: 1.25 times the Tabular Premium for Option 1, or 10 times for Option 2. The Tabular Premium depends on entry age, policy term, and option, excluding discounts, taxes, extra premiums, or rider premiums. If a minor Life Assured under 8 years passes away before the risk starts, the Death Benefit is a premium refund, excluding taxes, extra premiums, and rider premiums, without any interest.
Guaranteed Additions Every Year
Guaranteed Annual Additions provide a reliable way to watch your investments grow steadily, offering regular and predictable additions to your savings. This ensures a solid and stable financial future, making it a smart choice for building wealth with confidence.
Option to choose Policy Term and Sum Assured
Our policy gives you the flexibility to customize your insurance to meet your unique requirements. You can select the policy term and sum assured, empowering you to create a plan that perfectly matches your financial objectives. This personalization ensures that you receive the coverage that best suits your needs, offering peace of mind for both you and your loved ones.
Eligibility Conditions
| Minimum Entry Age |
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| Maximum Age at Entry |
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| Minimum Age at Maturity | 18 years (completed) | |
| Maximum Age at Maturity |
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| Policy Term | 10 & 15 years | |
| Mode of Premium payment | Single premium | |
| Minimum Basic Sum Assured | Rs 1,25,000/- | |
| Maximum Basic Sum Assured | No Limit | |
Payment Options Available
| Mode of Instalment payment | Minimum instalment amount | |
| Monthly | Rs 5,000/- | |
| Quarterly | Rs 15,000/- | |
| Half-Yearly | Rs 25,000/- | |
| Yearly | Rs 50,000/- | |
Exclusion:
If the Life Assured, whether sane or insane, commits suicide within 12 months from the risk commencement date, the nominee or beneficiary is entitled to 80% of the Single Premium paid (excluding taxes, extra premiums, and rider premiums other than Term Assurance rider). No other claims are permissible under the Policy. This clause does not apply if the Life Assured is below 8 years of age at entry.
