Brochure
LIC’s Dhan Sanchay is a Non-linked, Non-participating, Individual, Savings, Life Insurance Plan. This plan provides financial support to the family in case of unfortunate death of the life assured during the policy term. It also provides guaranteed income stream from the date of maturity during the Payout Period in the form of Guaranteed Income Benefit (GIB) and a lumpsum payment along with the last installment of Guaranteed Income Benefit (GIB) in the form of Guaranteed Terminal Benefit (GTB).

Guaranteed Income Benefit

Guaranteed Income Benefit shall remain constant during the Payout Period under Option A, C & D. Under Option D, It shall be increased yearly by a simple rate of 5% per annum on completion of each year of Payout Period and shall remain same during the year.

Guaranteed Terminal Benefit

Guaranteed Terminal Benefit as a lumpsum payment shall be payable along with the last installment of Guaranteed Income Benefit.

Insurance Cover during the Policy Term

Death Benefit payable on death of Policy Holder during the policy term after the Date of Commencement of Risk but before the Date of Maturity.

Option to take Death Benefits in installments in case of Death during the Policy Term

Option to receive Death Benefit in Installments over a period of 5 years instead of lump sum amount.

Protection of GIB & GTB to Nominee, in case of death of the Policyholder during Pay Out Period

On death of the Life Assured during the Payout Period (i.e. on or after the date of maturity but before the payment of last installment of Guaranteed
Income Benefit), the Guaranteed Income Benefit shall continue to be paid to the nominee as per the applicable Payout Mode for the outstanding Payout Period and Guaranteed Terminal Benefit shall also be payable along with the last instalment of Guaranteed Income Benefit.

Income Tax Benefits

Tax Benefit under section 80C on Premium Paid

Advantages  

Premium Waiver Benefit Rider is available Under Regular / Limited Premium Payment (Option A & B)
Payout Modes for Guaranteed Income Benefit are Yearly, Half-yearly, Quarterly and Monthly
Benefit Options Available:

Benefit Options under Regular & Limited Premium Payment
Option ALevel Income Benefit
Option BIncreasing Income Benefit @ 5% p.a.
Benefit Options under Regular & Limited Premium Payment
Option CLevel Income Benefit
Option DEnhanced Cover with Level Income Benefit

Eligibility Criteria:

Minimum Entry AgePolicy  Term 5 Years - 13 Years (Completed)
Policy  Term 10 Years - 8 Years (Completed)
Policy  Term 15 Years - 3 Years (Completed)
Maximum Entry AgeOption A & B : 50 Years (nearer Birthday)
Option C : 65 Years (nearer Birthday)
Option D : 40 Years (nearer Birthday)
Minimum Maturity Age18 Years (completed)
Maximum Maturity AgeOption A & B : 65 Years (nearer Birthday)
Option C : 80 Years (nearer Birthday)
Option D : 55 Years (nearer Birthday)
Minimum Annualized /  Single PremiumOption A & B: Rs. 30,000
Option C & D: Rs. 2,00,000
Maximum PremiumNo Limit (Annualized Premium / Single Premium in multiples of Rs 1,000)
Minimum Sum Assured on DeathOption A & B : Rs. 3,30,000
Option C : Rs. 2,50,000
Option D : Rs. 22,00,000
Maximum Sum Assured on DeathNo Limit
Under Regular/Limited Premium payment (Option A & Option B), the premium can be paid Yearly, Half Yearly, Quarterly, and Monthly (NACH only) or through Salary Deductions (SSS).

Policy Term & Payout Period:

Benefit OptionsPolicy TermPremium Paying TermPayout Period
Option - A & B105, 105, 10
155, 10, 155, 10, 15
Option - C515
10110
15115
Option - D515
10110
15115
Payout Period will start at the end of the policy term i.e. from the Date of Maturity.
Payout Modes for payment of Guaranteed Income Benefit are Yearly, Half-yearly, Quarterly and Monthly.

Riders Available:
Under Regular / Limited Premium Payment (Option A & B),
  • Accidental Death and Disability Benefit Rider
  • Accident Benefit Rider
  • New Term Insurance Rider
  • New Critical Illness Benefit Rider
  • Premium Waiver Benefit Rider
Under Single Premium Payment (Option C & D),
  • Accidental Death and Disability Benefit Rider
  • New Term Insurance Rider
Death Benefit:
1. Under Option A & B for Regular / Limited Premium Payment:
Sum Assured on death shall be higher of...
11 times of Annualized Premium
or
Sum Assured on Maturity
or
105% of Total Premiums paid upto the date of death

2. Under Option C for Single Premium Payment:
Sum Assured on death shall be higher of...
1.25 times of Single Premium
or
Sum Assured on Maturity

3. Under Option D for Single Premium Payment:
Sum Assured on death shall be 11 times of Single Premium

Maturity Benefit:
It shall be payable during the Payout Period in the form of Guaranteed Income Benefit and Guaranteed Terminal Benefit.

Guaranteed Income Benefit shall remain constant during the Payout Period under Option A, C & D. Under Option D, Guaranteed Income Benefit shall be increased yearly by a simple rate of 5% per annum on completion of each year of Payout Period and shall remain same during the year.

Guaranteed Terminal Benefit as a lumpsum payment shall be payable along with the last installment of Guaranteed Income Benefit.