LIC Dhan Rekha YojanaImage Credit source: File Photo
If you like to invest in LIC’s schemes, then you can make a fat fund of up to 1 crore by investing in LIC’s money line scheme with small savings every month. Life Insurance Corporation of India is one of the largest insurance companies in India. LIC offers several insurance plans that cater to the needs of common people. LIC offers term insurance, endowment plans, money-back policies, life plans and more. Apart from this it offers special plans like your family, retirement and group insurance plans.
LIC’s Dhan Rekha policy is a money-back scheme that pays Recurring Deposit amount to the policyholders. Also provides the final amount to be increased towards the Guaranteed Enhancement that you are entitled to, along with death and maturity benefits. The plan provides financial support to the family of the subscriber in case of his/her demise during the term of the policy.
During the policy term, periodic payments can also be made at predetermined intervals on the survival of the policyholder, and a guaranteed lump sum payment at maturity can be given to the surviving policyholder.
Eligibility for LIC Money Line Policy
- The customer must be at least 26 years old to invest in this policy.
- The limit of basic sum assured of this policy is Rs.10 lakh.
- This policy can be taken for a maximum of 20 years.
- The premium paying term in this policy is only 10 years.
- Guaranteed Addition Bonus of Rs 55 per Rs 1000 Sum Assured from 6th year onwards.
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Understand calculation like this
Suppose you start investing in the scheme at the age of 30 and pay a premium of Rs 9996 annually and Rs 833 every month for a sum assured of Rs 50 lakh. In addition, you also opt for the Accidental Death Benefit rider. Unfortunately, should something happen to you at the age of 40 years, your family will receive a sum assured of Rs.50 lakhs under the plan and they will also receive an accidental death benefit of Rs.50 lakhs. Accordingly, the family members of the customer will get Rs 1 crore.
