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.
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.