Life Insurance Company (LIC) has launched the ‘LIC Dhan Varsha’ scheme. The ‘LIC Dhan Varsha scheme is a non-linked, non-participating, individual, savings life insurance plan which offers a combination of protection and savings. The savings insurance plan provides financial support for the family in case of unfortunate death of the life assured during the policy terms.
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Key Points related to the LIC Dhan Varsha scheme
- LIC Dhan Varsha scheme provides a guaranteed amount on the date of maturity for the surviving life assured.
- The death benefits are payable on the death of the life assured during the policy term after the date of commencement of risk.
- On the life-assured surviving date of maturity of the savings insurance plan, a basic sum assured along with accrued guaranteed additions will be payable.
- The guaranteed additions will occur at the end of each policy year throughout the policy term and shall depend on the option chosen.
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