LIC Dhan Varsha Policy: LIC is the country’s biggest and oldest insurance company. LIC keeps bringing new schemes for its customers from time to time. But, this time LIC has not brought any new scheme but an update for an ongoing scheme.
Let us tell you, LIC’s Dhan Varsha policy, which gives the strongest returns, is going to close soon. Yes, you read it right, actually LIC has informed that it is discontinuing its Dhan Varsha policy. In such a situation, if you have invested in this policy, then it is very important to know that what is the last date of this scheme? So let us tell you when the LIC Dhan Varsha policy will be closed.
What is the last date of Dhan Varsha Yojana?
Let us tell you, this policy will run till this quarter i.e. March 31, 2023. After that it will end. The special thing about this policy is that it is a single premium policy. To know more about its features, read this article completely.
How LIC Dhan Varsha Plan Works
LIC Dhan Varsha Plan is a non-linked, individual, savings and single premium insurance plan that offers both savings and protection. The plan provides death benefit in case of untimely death of the policyholder. The plan also eliminates the need to pay premiums again and again. There are two investment options in this scheme.
Investment options
Under LIC Dhan Varsha plan, the investor can invest in two ways. The first option is investment can get the benefit of 1.25 times the premium amount. During this, his nominee will get Rs 10 lakh as death benefit on a single premium deposit of Rs 12.5. In the second option, investors get returns of up to ten times the premium amount. With a single premium deposit of Rs 10 lakh, the investor can get a return of Rs 1 crore on death.
Return on maturity
If the policyholder survives till the maturity of the plan, he gets the benefit of Guaranteed Additions along with the Basic Sum Assured. These guaranteed returns are credited to the policy at the end of every year and are given to the policyholder at maturity.
Policy Specification
LIC Dhan Varsha plan can be bought for ten or fifteen years. The policy can be purchased both online and offline, and the minimum age requirement to purchase the policy is three years, with a maximum age of 60 years for a term of 15 years. While the minimum age to buy a policy for ten years is eight years, the maximum age is 40 years.
