LIC Presents Savings Life Insurance Plan, Dhan Rekha (863 Plan)


Life Insurance Corporation of India (LIC) introduced a new Dhan Rekha plan with effect from December 13, 2021, which is an unrelated, non-participating individual savings life insurance plan.

According to the press release from LIC, the product has various advantages and unique features. There are special premium rates for women. The plan is authorized for the third sex. All the benefits of the plan are fully guaranteed.

Plan features

The plan provides a percentage of the base sum insured as a survivor benefit at regular intervals from the end of the premium payment period, provided the policy is in force.

According to the press release, the guaranteed additions will accumulate at the end of each insurance year from the 6th insurance year until the end of the policy term, provided the policy is in force. . The unique advantage of this plan is that at maturity, the policyholder receives the entire sum insured without deduction of the reimbursement amount received as well as any accumulated guaranteed additions. This plan provides financial support to the family in the event of the unfortunate death of the policyholder during the term of the policy. For single premiums, the insured death benefit is 125% of the basic insured capital plus the guaranteed supplements. For limited payment premiums, the insured death benefit is 125% of the base face amount or 7 times the annualized premium, whichever is greater, not less than 105% of all premiums paid to date. of death with guaranteed additions. There is a provision to receive the Maturity and Death Benefit in installments over a period of 5 years instead of a lump sum. The premium can be a single premium or a limited premium with payment terms of 10 years, 15 years and 20 years.

Plan coverage

This plan also supports liquidity needs through a credit facility. Optional endorsements are available under this plan upon payment of an additional premium subject to conditions.

The minimum amount insured under this plan is ??2 lakh and no limit for the maximum sum insured. The minimum age at entry varies from 90 days to 8 years depending on the length of the chosen policy. The maximum age at entry varies from 35 to 55 depending on the length of the policy chosen, according to the LIC press release.

How to buy

The plan is available for purchase in offline mode through agents / intermediaries, including POSPLI / Common Public Service Centers (CPSC-SPV) as well as online directly through the website, according to the LIC press release.

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