LIC Launches Dhan Sanchay Life Insurance Plan: Check Details

The () has launched a new scheme called Dhan Sanchay, which is an unlinked, non-participating individual savings life insurance scheme that offers both protection and savings.

This scheme provides financial assistance to the family in the event of the premature death of the insured during the term of the contract. It also offers a guaranteed income stream from the due date until the end of the payment period, said a press release from LIC.

Here is an overview of the details of the LIC Dhan Sanchay life insurance plan, according to the policy leaflet.

LIC Dhan Sanchay Benefit Options

The following perk options are available at the start:

In case of regular/limited payment of the premium:

  • Option A: Level Income Benefit
  • Option B: increase in income benefit

In case of single premium payment:

  • Option C: Single premium level income benefit
  • Option D: Single Premium Enhanced Coverage with Level Income Benefit The benefit option once selected cannot be changed.

Minimum Sum Insured

Options A and B have a minimum sum assured of Rs.3,30,000/-, Option C has a minimum sum assured of Rs.2,50,000 and Option D has a minimum sum assured of Rs.22,00,000 . The maximum bonus has no restrictions. Depending on the duration of insurance chosen, the minimum age for membership is 3 years (full).

Death benefit

“Sum insured at death” is the death benefit payable on the death of an insured person during the term of the policy after the date on which risk commences but before the stipulated maturity date; The “Sum insured at death” for various options is defined below.


Sum insured at maturity

According to the LIC brochure, “the sum insured at maturity is equal to the annualized premium or the single premium, as the case may be, multiplied by the multiplier of the benefit at maturity”.

The death benefit will be paid in a lump sum or in installments over a period of 5 years, depending on the preference of the policyholder/insured. The policy will expire when the death benefit is paid and no further benefits will be paid.

Maturity benefit

The Maturity Benefit will be paid if the Insured Person survives the specified Maturity Date in the form of a Guaranteed Income Benefit and a Guaranteed Terminal Benefit.

Loan option in Dhan Sanchay from LIC (Plan 865)

The strategy also includes a loan facility to meet liquidity needs. Optional riders are available under this plan for a fee and are subject to certain limitations. Under an in-force, paid-up policy, there is a settlement option to receive death benefits in installments over a 5-year period rather than a single payment.

During the payment period, the policyholder will have access to a loan facility.

The maximum loan amount that can be granted is as follows:

Option A and Option B: – For in-force policies: up to 90% of cash value – For paid-up policies: up to 80% of cash value • Option C and Option D: up to 75 % of cash value.

This plan is available both offline and online through agents/other intermediaries such as Point of Sales Persons-Life Insurance (POSP-LI) / Common Public Service Centers (CPSC-SPV) and the website


About Author

Comments are closed.