LIC’s Dhan Rekha is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan that offers both protection and savings benefits. It provides financial support to the policyholder’s family in the event of the policyholder’s unfortunate death during the policy term. Additionally, the plan offers periodic payments to the policyholder on survival at specified intervals during the policy term and a guaranteed lump sum payment at maturity. The plan also includes a loan facility to address liquidity needs. You can purchase this plan both offline through agents or other intermediaries and online directly through the website www.licindia.in.
Benefits
Death Benefit:
Death Benefit consists of “Sum Assured on Death” along with Guaranteed Additions:
- Single premium: 125% of Basic Sum Assured
- Limited premium: Higher of 125% of Basic Sum Assured or 7 times the annualized premium
- Not less than 105% of total premiums paid under Limited Premium, excluding extras, rider premiums, and taxes on the date of death.
For minor Life Assured under 8 years at entry who pass away before the Risk commencement, a return of premiums paid (excluding taxes, extra amounts, and rider premiums) is provided.
Survival Benets
Maturity Benefits
Guaranteed Additions
Guaranteed Additions are paid while the policy is active with timely premium payments, starting from the 6th year. The rate increases with the policy’s duration, as follows:
- 6th to 20th year: ₹50 per ₹1000 of Basic Sum Assured.
- 21st to 30th year: ₹55 per ₹1000 of Basic Sum Assured.
- 31st to 40th year: ₹60 per ₹1000 of Basic Sum Assured. In case of the policyholder’s death under an active policy, the Guaranteed Addition for the entire policy year of death is granted. If premiums aren’t paid for a limited premium policy, Guaranteed Additions stop accruing. For paid-up or surrendered policies, the addition is proportional to the last premium paid.
Eligibility Conditions
| Minimum Basic Sum Assured | Rs. 2,00,000 | |
| Maximum Basic Sum Assured | No Limit | |
| Policy Term | 20 years, 30 years and 40 years (20 years in case of policies procured through POSP-LI/CPSC- SPV l) | |
| Premium Paying Term |
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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:
Certainly, here’s a concise version:
a) Single Premium Payment Policy: In the event of the Life Assured’s suicide within 12 months from the risk commencement date, the nominee or beneficiary is entitled to receive 80% of the Single Premium paid, excluding taxes, extra premium, and rider premiums, except for the Term Assurance Rider. This does not apply if the Life Assured is below 8 years of age at entry.
b) Limited Premium Payment Policy: i. If the Life Assured commits suicide within 12 months from the risk commencement date, the nominee or beneficiary can claim 80% of the total premiums paid, excluding taxes, extra premium, and rider premiums, except for the Term Assurance Rider, provided the policy is in-force. This exception does not apply if the Life Assured is below 8 years of age at entry. ii. In the case of suicide within 12 months from the date of revival, the higher amount of either 80% of the total premiums paid (excluding taxes, extra premium, and rider premiums, except for the term assurance rider) or the surrender value as of the date of death shall be payable. No other claims are applicable in such situations. This exception does not apply if the Life Assured’s age is below 8 years at the time of revival, or for a policy that has lapsed without acquiring paid-up value.
