LIC’s Dhan Sanchay is a non-linked, non-participating, individual savings and life insurance plan. It offers both protection and savings elements. This plan provides financial support to the family in case of the life assured’s unfortunate death during the policy term. Additionally, it ensures a guaranteed income stream during the payout period from the date of maturity.

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.

Benefits

At the start of the policy, you have the following benefit options:

For Regular/Limited premium payment: Option A: Level Income Benefit Option B: Increasing Income Benefit

For Single premium payment: Option C: Single Premium Level Income Benefit Option D: Single Premium enhanced cover with Level Income Benefit

Please note that once you choose a benefit option at the beginning, it cannot be changed during the policy term.

Eligibility Conditions

Minimum Entry Age 3 years (completed)
Maximum Entry Age
  • Option A & Option B : 50 Years (nearer birthday)
  • Option C: 65 Years (nearer birthday)
  • Option D: 40 Years (nearer birthday)
  • Minimum Maturity Age 18 years (completed)
    Maximum Maturity Age
  • Option A & Option B :65 Years (nearer birthday)
  • Option C: 80 Years (nearer birthday)
  • Option D: 55 Years (nearer birthday)
  • Policy Term
  • Option A & Option B :10 & 15 years
  • Option C & Option D : 5, 10 & 15 years
  • Premium Paying Term (For Regular/ Limited premium)
  • 5 & 10 years for 10 Year Policy Term.
  • 5, 10 & 15 years for 15 Year Policy Term.
  • Payout Period
  • Option A & Option B : Equal to Premium Paying Term
  • Option C & Option D : Equal to Policy Term
  • Minimum Annualized / Single Premium*
  • Option A & Option B : Rs 30,000
  • Option C & Option D : Rs 2,00,000
  • Maximum Premium** No limit
    Minimum Sum Assured on Death
  • Option A & Option B : Rs 3,30,000
  • Option C: Rs 2,50,000
  • Option D: Rs 22,00,000
  • 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 the policy’s suicide clause explained:

    a) For Single Premium payment (Option C & Option D):
    If the Life Assured (whether sane or insane) commits suicide within 12 months from the commencement of the policy, the nominee or beneficiary is entitled to 80% of the Single Premium paid, excluding taxes, extra premium, and rider premiums (except the Term Assurance Rider), provided the Life Assured’s age at entry is 8 years or older.

    b) For Regular/Limited Premium payment (Option A & Option B):
    i. If the Life Assured (whether sane or insane) commits suicide within 12 months from the commencement of the policy, the nominee or beneficiary is entitled to 80% of the total premiums paid, excluding taxes, extra premium, and rider premiums (except the Term Assurance Rider), provided the policy is in-force, and the Life Assured’s age at entry is 8 years or older.
    ii. If the Life Assured (whether sane or insane) commits suicide within 12 months from the date of revival, an amount that is higher of 80% of the total premiums paid until the date of death (excluding taxes, extra premium, and rider premiums other than term assurance rider, if any), or the surrender value available as of the date of death, shall be payable. No other claims are admissible under this policy.
    These clauses are not applicable if the Life Assured is below 8 years of age at the time of revival or for a policy that has lapsed without acquiring a paid-up value, in which case nothing shall be payable.

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