LIC Dhan Rekha
A savings insurance policy that is offered by the Life Insurance Corporation (LIC) of India is Dhan Rekha. The policy comes with unique features and several benefits.
Any benefits that are availed under the policy are completely guaranteed. The process to purchase the Dhan Rekha policy is simple and can be completed both online and offline.
Eligibility Criteria for LIC Dhan Rekha
The eligibility criteria that must be met to purchase the Dhan Rekha policy are mentioned below:
- The minimum age at the time of entry ranges between 90 days and 8 years. The minimum age depends on the policy term that has been chosen.
- The maximum age at the time of entry ranges between 35 years and 55 years. The maximum age depends on the policy term that has been chosen.
- The sum assured must be at least Rs.2 lakh.
- No upper limit to the sum assured.
LIC Dhan Rekha Policy Term Options
The three different policy terms that are offered are mentioned below:
- 20 Years: In case you opt for a 20-year policy term, the premium must be paid for 10 years.
- 30 Years: In case you opt for a 30-year policy term, the premium must be paid for 15 years.
- 40 Years: In case you opt for a 40-year policy term, the premium must be paid for 20 years.
Apart from the options that are provided above, a single premium can also be paid.
Features of LIC Dhan Rekha
Basic Sum Assured (Minimum) | Rs.2 lakh |
Basic Sum Assured (Maximum) | No limit |
Policy Term |
In case the policy is purchased at a CPSC-SPVI/ POSP-LI, the policy term is 20 years |
Entry Age (Minimum) |
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Maturity - Minimum Age |
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Maturity - Maximum Age |
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Process to Purchase the Dhan Rekha Policy
You can purchase the Dhan Rekha policy by visiting the official website of LIC. Apart from online, the policy can also be purchased offline via Intermediaries/ Agents as well as by visiting Common Public Service Centres.
Maturity Benefits under LIC Dhan Rekha Plan
At the time of maturity, the entire sum assured will be provided to the policyholder. Apart from the sum assured, the accrued guaranteed amount will be paid back as well. In case the policyholder passes away during the term of the policy, financial assistance is provided to his/her family.
FAQs of LIC Dhan Rekha
- What policy terms and premium payment options does Dhan Rekha offer?
Policy terms are 20, 30, and 40 years. Premium payment can be single or limited (half the policy term) and paid annually, semi-annually, quarterly, or monthly.
- What are the key benefits of the Dhan Rekha plan?
Main benefits include guaranteed returns, death benefit (sum assured plus accrued guaranteed additions), survival benefit at regular intervals, and a maturity benefit which includes accrued guaranteed additions.
- What is the death benefit and how is it calculated?
In case of death during the policy term, the nominee receives the sum assured on death plus accrued guaranteed additions. For single premium, death benefit is 125% of basic sum assured, and for limited premium, it is higher of 125% of sum assured or 7 times annualized premium.
- Can additional riders enhance the coverage under Dhan Rekha?
Riders available include Accidental Death & Disability Benefit, Accident Benefit, Critical Illness Benefit, Premium Waiver, and New Term Assurance Rider. These can be chosen at policy inception or with additional premium.
- Is there a loan facility under the Dhan Rekha plan?
Yes, the plan allows a loan facility based on surrender value, helping meet liquidity needs.
- What happens if the premium payment is missed?
A grace period of 30 days (for quarterly, half-yearly, and annual premiums) and 15 days (for monthly premiums) is allowed before the policy lapses.
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