The Life Insurance Company of India (LIC) offers the Dhan Rekha term assurance plan, which is non-linked and non-participating. In the tragic case of the policyholder's passing, the plan intends to offer financial security to the family.
Benefits and Advantages:
This term plan offers different types of benefits and advantages, making it a flexible and attractive choice for all people on the hunt for a term insurance plan. We have lined up some of the benefits that this scheme offers to people:
High life cover: For those worried about their families' financial security in their absence, the plan offers affordable premiums which will greatly alleviate your worry.
Flexibility: It has multiple premium payment options. Now, policyholders will be able to choose between a single premium payment and regular premium payments.
Add-on riders: The plan also provides the option of add-on riders that the policyholders can use to increase and enhance their coverage. The add-ons include: Accidental Death Benefit Rider, Critical Illness Rider, and Disability Benefit Rider.
Tax benefits: The eligibility for tax benefits is provided as given under Section 80C of the Income Tax Act, 1961 with regard to premium payments made towards the plan.
Eligible applicants
The LIC's Dhan Rekha plan is accessible and available for anyone between 18 and 60 years old. The maximum age at maturity stands at 70 years. The minimum sum policyholders can expect under the plan is Rs. 1,00,000.
Application Process
Interested parties can visit their nearest LIC branch or submit an online application through the LIC website to enrol in LIC's Dhan Rekha plan. The application process entails completing the necessary forms, providing the necessary documentation, and paying the application fee. After LIC has reviewed and accepted the application, the policy will be issued.
