LIC LIC Dhan Varsha Plan 866 Details, Example, Features and Benefits with Example
LIC of India new plan launched on 17th. October 2022 which name is LIC Dhan Varsha Plan (Table No 866) is a Guaranteed returns an endowment insurance policy with savings where the single premium paid once at the start of the policy.
‘LIC’s Dhan Varsha policy 866’ is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance single premium policy which offers a combination of protection and savings during the policy term. Dhanvarsha plan offers up to Rs.75 per Rs.1,000 sum assured as guaranteed addition.
In this plan the premium is paid in lump sum at the beginning of the policy and the returns are given to the policyholder at the end of policy term or to the nominee in case of death of the policyholder.
Also Read this : Invest 10K per month & Get Rs 1 Cr returns
Key Features
- In this plan if person lives till end of Term of the policy, policy holder will be given Maturity Benefit which is SUM ASSURED + Guaranteed Bonus.
- If policy holder dies within the term of the Policy Death Benefit paid to Nominee i.e. SUM ASSURED + Guaranteed Bonus acquired till that Year.
- There is High Bonus and High liquidity and saving under this LIC Plan No 866.
- Two optional riders are available under this plan:
- (a) LIC’s Accidental Death and Disability Benefit Rider, and
- (b) LIC’s New Term Assurance Rider.
- The policy holder will also be eligible for tax benefits under Section 80-C.
- Facility of Surrender – The policy can be surrendered by the policyholder at any point of time during the the policy term.
Eligibility/Parameter of LIC Dhan Varsha Policy 866
| Minimum age | 3 years (completed) – for a period of 15 years 8 years (completed) – for a period of 10 years |
| Maximum age | 60 years – for option 1 40 years – for option 2 (for a period of 10 years) 35 years – for option 2 (for a period of 15 years) |
| Premium payment | Single |
| Policy Term | 10 and 15 years |
| Minimum investment amount | 1,25,000 रु. |
| Maximum investment amount | No limit |
| Loan | Loan is available |
Read Also This – LIC Nivesh Plus 849 One Time Investment Plan
LIC Dhan Varsha Plan 866 Benefits
Maturity Benefit
Maturity Benefit: If the policy holder survives till the date of maturity, “Basic Sum Assured” along with accrued Guaranteed Bonus” Additions will be payable.
Death Benefit
After Commencement of Risk : If the Insured person dies within the Policy Term after the commencement of Risk, then death benefit will be given to Nominee of the Policy. Death Benefit = Sum Assured + Accrued Guaranteed Bonus.
Before Commencement of Risk : If the Insured person dies within the Policy Term before the commencement of Risk, then Single Premium that he paid excluding taxes and extra premium if any, without interest will be given to the Nominee of the Policy.
Read Also This – LIC SIIP Plan 852 » Great scheme for people who’s invest in Share market
LIC Dhan Varsha Plan 866 with an Example
An example of Ramesh is purchasing this Plan with following details:
| Sum Assured | Rs.10,00,000 |
| Policy Term | 15 Years |
| Policy Purchase Year | 2022 |
| Age | 30 Years |
| Single Premium | Rs. 9,26,654/- |
Maturity Details
If policy holder Ramesh survives the policy term 15 years then Maturity will be as under:
| Maturity Year | Maturity Age | Maturity Amount (approx) |
|---|---|---|
| 2037 | 45 | 21,50,000/- |
Year-wise Death Claims
| Year | Age | Premium | GA | Maturity |
|---|---|---|---|---|
| 2022 | 30 | 9,26,654 | 75000 | 0 |
| 2023 | 31 | 0 | 75000 | 0 |
| 2024 | 32 | 0 | 75000 | 0 |
| 2025 | 33 | 0 | 75000 | 0 |
| 2026 | 34 | 0 | 75000 | 0 |
| 2027 | 35 | 0 | 75000 | 0 |
| 2028 | 36 | 0 | 75000 | 0 |
| 2029 | 37 | 0 | 75000 | 0 |
| 2030 | 38 | 0 | 75000 | 0 |
| 2031 | 39 | 0 | 75000 | 0 |
| 2032 | 40 | 0 | 75000 | 0 |
| 2033 | 41 | 0 | 75000 | 0 |
| 2034 | 42 | 0 | 75000 | 0 |
| 2035 | 43 | 0 | 75000 | 0 |
| 2036 | 44 | 0 | 75000 | 0 |
| 2037 | 45 | 0 | 75000 | Maturity 21,50,000/- |
Also Read this : Invest 10K per month & Get Rs 1 Cr returns
Also Read this – LIC’s full family protection plan
LIC Dhan Varsha Plan 866 Additional Information
Risk Coverage: Till end of Term of the Policy.
Date of Commencement of Risk: In case of children whose age is less than 8 years risk commencement starts either from 2 years of taking the policy or 8 years old which is earlier.
Locking period : 1 years.
Loan Facility: Loan facilities is available after 3 month under this policy.
Income Tax Deduction: Available under Section 80-C for premiums paid only.
Proposal Forms: Proposal Form no. 300 and 360 will be used under this plan.
Cooling-off Period: If a policyholder is not satisfied with the ‘Terms and Conditions” of the policy, he/she may return the policy within 15 days from the date of receipt of the policy.
LIC’s Latest Plans 2020
- LIC New Bima Bachat 916
LIC New Bima Bachat Plan 916 Details, Example, Features and Benefits with Example LIC New Bima Bachat Plan 916 (Table… - LIC New Money Back 920
LIC New Money Back 920, Benefits, Features, parameter and Review. LIC of India new plan launched on 1st. february 2020… - LIC Jeevan Labh Plan 936
LIC Jeevan Labh Plan 936, Benefits, Features, parameter and Review LIC of India new plan launched on 1st. february 2020… - LIC new endowment 914
LIC New Endowment 914 के फायदे, विशेषताएं, उदाहरण पूरी जानकारी हिंदी में LIC of India ने 1 फ़रवरी 2020 से…
I hope “LIC Dhan Varsha Plan 866” के बारे में ये जानकारी अच्छी लगी होगी, अगर हाँ तो इसे अपने सभी Friends के साथ Social media पर Share जरुर करें ताकी आपकी मदद से दुसरे लोग भी इस योजना की जानकारी को पढ़ सकें, और वो इसका लाभ ले सके, कोई ऐसी जानकारी रह गयी हो और आप जानना चाहते हो तो आपके सुझाव व प्रस्ताव स्वीकार्य हैं और नीचे दिए गए comment box में टिप्पणी भी अवश्य दें! धन्यवाद…….