LIC of India new plan launched 23, june 2023 which name is LIC’s Dhan Vriddhi plan 869 is a Non-Linked, Non-Participating, Individual, Savings, Single Premium Life Insurance plan which offers a combination of protection and savings.
This plan provides financial support for the family in case of unfortunate death of the life assured during the policy term. It also provides guaranteed lumpsum amount on the date of maturity for the surviving life assured.
In this plan the premium is paid in lump sum at the beginning of the policy and the returns are given to the policyholder at the end of policy term or to the nominee in case of death of the policyholder. This Plan can be purchased Offline through agent/POSP-LI as well as Online directly through website www.licindia.in.
This plan is available for a limited period only and will be closed on 30th, September 2023.
Key Features
Eligibility/Parameter of LIC’s Dhan Vriddhi Policy 869
Minimum age | 90 years (completed) - for a period of 18 years 3 years (completed) - for a period of 15 years 8 years (completed) - for a period of 10 years |
Maximum age | 60 years - for option 1 40 years - for option 2 (for a period of 10 years) 35 years - for option 2 (for a period of 15 years) 32 years - for option 2 (for a period of 18 years) |
Premium payment | Single |
Policy Term | 10, 15 and 18 years |
Minimum Basic Sum Assured | 1,25,000 रु. in multiple of Rs. 5,000 |
Maximum investment amount | No limit |
Minimum Maturity Age | 18 years (completed) |
Maximum Maturity Age | Option 1: 78 years (nearer birthday) Option 2: 50 years (nearer birthday) |
Loan | Loan is available |
On Life Assured surviving the stipulated Date of Maturity, “Basic Sum Assured” along with accrued Guaranteed Additions shall be payable.
Death benefit payable, on death of the Life Assured, during the policy term after the date of commencement of risk but before the stipulated date of maturity shall be “Sum Assured on Death” along with accrued Guaranteed Additions.
“Sum Assured on Death” for both options is defined as under:
Option 1: 1.25 times of Tabular Premium for the chosen Basic Sum Assured
Option 2: 10 times of Tabular Premium for the chosen Basic Sum Assured
where Tabular Premium shall be based on the age at entry of the life assured, policy term and the option chosen but before allowing for any rebate. It does not include taxes, extra premiums and rider premium(s), if any.
However, in case of minor Life Assured, whose age at entry is below 8 years, on death before the commencement of Risk (as specified in Para 3 above), the death benefit payable shall be refund of premium(s) paid (excluding taxes and extra premium(s), if any) without interest.
Risk Coverage: Till end of Term of the Policy.
Date of Commencement of Risk: In case of children whose age is less than 8 years risk commencement starts either from 2 years of taking the policy or 8 years old which is earlier.
Surrender : Any time.
Loan Facility: Loan facilities is available after 3 month under this policy.
Income Tax Deduction: Available under Section 80-C for premiums paid only.
Proposal Forms: Proposal Form no. 300 and 360 will be used under this plan.
Cooling-off Period: If a policyholder is not satisfied with the ‘Terms and Conditions” of the policy, he/she may return the policy within 15 days from the date of receipt of the policy.
Joseph Manuel Bravi Wrote:
2024-03-22 02:34:50
LIC policies are similar to Live poor die rich Returns are similar to SBI FD returns People should look for Life Assurance and not Life Insurance If you have free money you can invest in LIC. Investment in Gold is best risk free
ASHISH VORA Wrote:
2024-03-11 06:30:21
Hi, I would like to know the actual maturiy amount if invested Rs500000/-
Aezhuvath Balachandran Wrote:
2024-03-03 00:54:53
I am running 73 years .I would like to know whether I can take DHAN VRIDDHI PLAN NO 869 POLICY for say 10 years.If eligible kindly intimate as to if I invest say a sum of Rs 500000/ at the end of the said how much would I get and how is the bonus calculated
Pravin kumar Wrote:
2024-03-09 16:09:37
70 yrs
R. K. Maurya Wrote:
2023-12-26 13:17:05
I pay single time 1,03032/_ for 18years Pl provide details maturity
Joshna Wrote:
2023-11-07 02:38:51
Is this policy still available?
Anoop Wrote:
2023-09-09 00:14:00
How much will 10 lakhs single premium for 10 years return me?
BN Wrote:
2023-09-17 00:07:55
To, Mr/Mrs/Ms : ABC Plan : Dhan vriddhi - 869 Age :30 Term :10 Death Sum Assured :1167750 Basic Sum Assured :1000000 Option 1: 1.25 times of Tabular Premium for the chosen Basic Sum Assured Single Premium With TAX 4.5% : 976239 (934200 + 42039) Total Approximate Paid Premium : 976239 Approximate Return at Maturity Time : B.S.A. : 1000000 Guaranteed Additions : 700000 Total Return at Maturity Time : 1700000
meharban singh Wrote:
2023-09-04 00:32:24
what will be the maturity value of lic plan 869 single premium 1.25 lac after 10 year term
Nirad Alok Wrote:
2023-08-28 06:18:53
If i pay dingle time 1,25,000/_ for 15years Pl provide details maturity
Shreya Pankaj Narkhedkar Wrote:
2023-08-26 03:36:37
Minimums fd plan
Abhishek goyal Wrote:
2023-08-08 11:31:15
Call us.dhann vriddi regarding
VED PRAKASH AGRAWAL Wrote:
2023-07-12 08:04:41
1. If policy holder dies within the term of the Policy Death Benefit paid to Nominee i.e. Option 1 = 1.25 times of Basic Sum Assured + Accrued Guaranteed Bonus. Option 2 = 10 times of Basic Sum Assured + Accrued Guaranteed Bonus. 2. “Sum Assured on Death” for both options is defined as under: Option 1: 1.25 times of Tabular Premium for the chosen Basic Sum Assured Option 2: 10 times of Tabular Premium for the chosen Basic Sum Assured There are above two statements which seems confusing. Under Option 2, the death benefit will be 10 times of "Basic Sum Assured" or 10 times of Tabular premium. Please clarify. Regards, V. P. Agrawal -9643408846