LIC Dhan Vridhi
The Life Insurance Corporation of India (LIC) has launched a new policy known as Dhan Vridhhi. This policy is a single premium plan and assures policyholders guaranteed returns.
Designed to offer both financial security and avenues for growth, the plan allows individuals to make a one-time premium payment and reap the benefits of a guaranteed maturity amount.
As a single premium plan, it eliminates the need for future premium obligations, ensuring the policy remains in force without the risk of lapsing due to non-payment of premiums.
Features and Benefits of LIC Dhan Vridhi Policy
The features and benefits of LIC Dhan Vridhi Policy are as follows:
- Single Premium Payment: The LIC Dhan Vridhi is a one-time premium payment plan, providing a hassle-free and convenient investment option. This also means that the policy will not lapse due to non-payment of premium on time.
- Guaranteed Returns: The policyholder gets an assured return with this plan, offering a secure avenue for wealth accumulation over the policy tenure.
- Loan benefits: The policyholder can avail themselves of a loan against the LIC Dhan Vriddhi plan, subject to policy conditions.
- Tax benefits: The policyholder can avail themselves of tax deductions with this scheme.
- Surrender value: If the policyholder decides to terminate the policy before its scheduled term expires, they will receive a surrender value, contingent upon specific terms and conditions.
- Benefits on death: In the case of unfortunate events, like policyholder’s demise, the nominee will receive the death benefit.
Eligibility Criteria for LIC Dhan Vridhi
The eligibility criteria for LIC Dhan Vridhi is as follows:
Entry Age | Minimum:
Maximum:
|
Tenure of the policy | 10 years/ 15 years/ 18 years |
Sum Assured | Minimum: Rs.1,25,000. Maximum: No limit. |
Documents Required for LIC Dhan Vridhi Plan
The below-listed documents are required for LIC Dhan Vridhi Plan:
- Proof of address
- Proof of age
- Properly completed application or proposal form
- Medical history
- Reports on medical diagnosis as necessary
- Aadhaar card, PAN card, tax information, and additional KYC documents, etc.
FAQs on LIC Dhan Vridhi
- Can I surrender the LIC policy before its term ends?
Yes, you can surrender an LIC policy before its term ends, subject to specific terms and conditions. Surrender value will be paid based on the policy type and duration.
- Can I avail myself of a loan against my LIC policy?
Yes, policyholders can avail themselves of loans against certain LIC policies. The loan amount is determined based on the policy type, its duration, and the surrender value.
- How can I check the status of my LIC policy?
Policyholders can check their LIC policy status through the official website, mobile app, or by contacting the LIC customer care helpline. Online portals provide convenient access to policy details and updates.
- What types of policies does LIC offer?
LIC provides a diverse range of policies, including term insurance, endowment plans, money-back policies, ULIPs (Unit Linked Insurance Plans), and pension plans.
- How can I purchase an LIC policy?
To purchase an LIC policy, you can visit the official LIC website, contact an LIC agent, or visit the nearest LIC branch. Online and offline modes are available for policy acquisition.
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