When the Dhan Rekha policy completes 15 years, Varun will get 15% of the sum assured i.e. Rs 1.50 lakh as money back. If the plan turns 20 years old, then the second money back will be available in which 15% of the sum assured i.e. Rs 1.5 lakh will be available.
Today we will talk about LIC’s new plan Dhan Rekha. Till now, this plan is different from all the plans of LIC in the market. LIC’s new Dhan Rekha plan has become available for purchase from 13th December. The most important thing about this plan is the guaranteed addition on Sum Assured, which will be given from Rs 50 per thousand to Rs 60 per thousand. The next special thing is that the coverage of sum assured up to 125%. That is, coverage of up to 125% of the amount of policy you take will continue to be available during the entire policy.
LIC’s Dhan Rekha Plan gives women a special discount in special premiums. If a woman takes this policy in her own name, then she will be given a plan at a low premium. This is a money back policy under which you are given some part of the chosen sum assured in the middle of the policy. The rule of the general policy is that the money given in the money back during the policy is given to the customer after deducting the sum assured at the time of maturity. But in this policy, the money back money is not given after deducting it. Money back is also available in this and full payment is also available at the time of maturity.
Special feature of Dhan Rekha Plan
Dhan Rekha plan is such a plan which is not linked to the risk of share market. The ups and downs of the stock market do not affect the money back or maturity amount of the policy. No bonus is also available in this policy. The benefit of the policy is determined at the time of taking the policy and is paid till the end or at the time of maturity. This is a limited premium plan in which the premium will have to be paid only for half the time period for which the plan is taken. There is also an option to pay the entire premium in one go in this policy.
This policy is available for tenures of 20, 30 and 40 years. The minimum age for taking a 20-year policy is 8 years, for a 30-year policy, the minimum age is 3 years and for a 40-year policy, the minimum age limit has been kept at 90 days. A person of maximum 55 years can take this policy. The minimum sum assured of the policy is Rs 2 lakh. There is no limit on Maximum Sum Assured. For 20 years policy, 10 years premium has to be paid, 30 years policy will have to pay 15 years and 40 years policy will have to pay 20 years premium. The facility of single premium is also available in which the entire premium amount has to be paid at the time of taking the policy.
What is death benefit
If the subscriber dies during the policy, then 125% of the sum assured will be paid to the nominee. Along with this, the amount of Guaranteed Edition will also be paid. Let us understand this with an example. Suppose 30 year old Varun has taken a policy of 10 lakh sum assured, so Varun will have to pay premium only for 15 years. If Varun pays the premium annually, then he will have to pay Rs 73,342 annually. In this way, Varun will pay around Rs 11 lakh during the entire policy period.
How much will you get in the end
When the Dhan Rekha policy completes 15 years, Varun will get 15% of the sum assured i.e. Rs 1.50 lakh as money back. If the plan turns 20 years old, then the second money back will be available in which 15% of the sum assured i.e. Rs 1.5 lakh will be available. When the policy completes 25 years, you will get Rs 1.5 again as the third money back. In this way, Varun will get Rs 4.50 lakh as total money back. When the policy completes 30 years, then it will get maturity. The entire sum assured i.e. Rs 10 lakh, Rs 7.50 lakh as guaranteed addition from 6 years to 20 years and Rs 5.50 lakh as guaranteed addition from 21 years to 30 years. In this way, Varun will get Rs 13 lakh as a guaranteed edition. The total amount on maturity will be Rs 23 lakh. Earlier, Rs 4.5 lakh is already available as money back. In this way Varun gets a total return of Rs 27.50 lakh.
If Varun dies during the policy, then the nominee will get 125% of the sum assured i.e. Rs.12.50 lakh. Also, according to the number of years the policy has run, you will also get a guaranteed addition. The guaranteed addition will depend on the number of years the policy has run.
