The Dhan Sanchay LIC plan provides coverage for life and is a self-sustaining life insurance plan. The plan features a minimum sum assured of Rs 3,30,000, maximum sum assured of Rs 2,50,000, and flexible maturity options. The plan can be purchased either through an agent or online.
The LIC Dhan Sanchay has a 10 year premium payment term. It will pay out a lump sum to the policyholder at the maturity date. This plan also provides for a guarantee income benefit for the policy term. This means that if you die, you will receive a guaranteed income benefit that will remain constant during your payout period.
Dhan Sanchay LIC plans are easy to pay for and offer a variety of benefits. Premiums can be paid annually, half yearly, quarterly, or monthly. If you choose monthly payment, you will have to pay your premiums via ECS or Demand Draft. Accidental death riders can be paid up to ten thousand rupees. These riders should be purchased if you plan to die unexpectedly, but don’t exceed these amounts if possible.
You can surrender your policy if you don’t need the coverage. You can choose to pay Regular or Limited Premiums, but you will need to pay for at least two years before you can withdraw the money. Or you can choose to pay a single premium and surrender the policy at any time during the policy term.