LIC Dhan Varsha Plan-866 Policy is a life insurance and savings plan from the Life Insurance Corporation of India (LIC) that offers both life coverage and wealth growth.
It’s perfect for those who want financial security along with guaranteed returns, thanks to its non-linked and non-participating nature. This policy isn’t affected by the stock market, so you enjoy predictable benefits. With flexible single-payment options, assured additions, and a substantial maturity payout, LIC Dhan Varsha is designed to offer peace of mind and steady savings growth.
What is LIC Dhan Varsha Plan-866 Policy?
LIC Dhan Varsha Plan-866 is a single-premium life insurance plan, meaning you pay the premium just once, and your policy remains active throughout its term. This plan offers life cover and a guaranteed payout, making it a reliable tool for wealth creation and family security. At the end of the term, it provides a maturity benefit that includes the sum assured along with guaranteed additions, which makes it ideal for long-term financial goals.
Key Features of LIC Dhan Varsha Plan-866 Policy
- Single Premium Payment: You only need to pay once at the beginning, which makes the plan convenient and simple to maintain.
- Guaranteed Additions: LIC Dhan Varsha offers guaranteed additions that accumulate every year, increasing the maturity benefit significantly.
- Life Cover Protection: The policy provides comprehensive life cover, ensuring your family’s financial security in the event of an untimely incident.
- Flexible Policy Terms: You can choose between two policy terms (10 or 15 years), allowing you to pick a duration that suits your financial needs.
- Maturity Benefit: At the end of the policy term, you receive the maturity sum assured, which includes the guaranteed additions and provides a solid lump-sum payout.
Why Choose LIC Dhan Varsha?
- Convenient One-Time Premium: Since you pay the premium just once, LIC Dhan Varsha is easy to manage without worrying about recurring payments.
- Assured Additions for Wealth Growth: The guaranteed additions each year boost your savings, giving you a higher payout at maturity.
- Family Financial Protection: In case of any unfortunate event, the policy offers a death benefit, ensuring your family’s future is secure.
- Reliable Maturity Payout: With the sum assured and guaranteed additions, you get a substantial maturity payout, perfect for achieving long-term goals.
Eligibility for LIC Dhan Varsha Policy
| Feature | Details |
|---|---|
| Minimum Entry Age | 3 years |
| Maximum Entry Age | 60 years (for 10-year term), 40 years (for 15-year term) |
| Policy Terms | 10 years, 15 years |
| Premium Payment Mode | Single premium |
| Minimum Sum Assured | ₹1,25,000 |
Benefits of LIC Dhan Varsha Policy
LIC Dhan Varsha provides various benefits, combining life cover with wealth accumulation:
- Guaranteed Additions: The policy offers guaranteed yearly additions, adding value to your sum assured and maximizing your maturity benefit.
- Death Benefit: In the unfortunate event of the policyholder’s passing, the nominee receives a death benefit, offering financial support to the family.
- Maturity Benefit: At the end of the term, you receive a lump sum that includes the guaranteed additions, helping you meet future financial needs.
- Tax Benefits: Premium payments qualify for tax deductions under Section 80C, and the maturity payout is tax-free under Section 10(10D), making this plan a tax-efficient investment.
How to Apply for LIC Dhan Varsha?
To apply for LIC Dhan Varsha Plan-866, you can visit your nearest LIC branch, consult an LIC agent, or apply through the LIC official website. Ensure you have all required documents and review the policy terms and benefits before applying.
FAQs
1. What are the guaranteed additions under LIC Dhan Varsha?
- LIC Dhan Varsha offers guaranteed yearly additions that accumulate over the policy term, increasing the maturity benefit significantly.
2. Is it possible to take a loan against the LIC Dhan Varsha Policy?
- Yes, once the policy acquires a surrender value, you can take a loan against it, providing financial flexibility when needed.
3. What happens if I survive the entire policy term?
- If you survive the term, you’ll receive a maturity benefit, which includes the sum assured and all guaranteed additions, providing a significant final payout.
4. Does LIC Dhan Varsha offer tax benefits?
- Yes, the premium payments are tax-deductible under Section 80C, and the maturity benefits are tax-free under Section 10(10D), making it a tax-efficient option.
5. Who is eligible for the LIC Dhan Varsha Policy?
- Individuals between the ages of 3 and 60 (for a 10-year term) and up to 40 years (for a 15-year term) can apply, making it suitable for a broad range of people looking for wealth growth and life cover.
Conclusion
LIC Dhan Varsha Plan-866 is a valuable life insurance policy that offers guaranteed returns, life cover, and a one-time premium payment option, making it simple and convenient to manage. With its assured yearly additions and significant maturity benefit, it’s a reliable choice for anyone looking to secure their family’s future and grow their wealth.
Whether you’re saving for long-term goals or seeking a plan with financial security, LIC Dhan Varsha provides peace of mind and dependable growth.
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