Dhan Sanchay: A new life insurance product from LIC India

 KEY POINTS:

• The first two alternatives require a minimum Sum Assured of Rs.3,30,000/-, the third option requires a minimum Sum Assured of Rs.2,50,000, and the fourth option requires a minimum Sum Assured of Rs.22,00,000.
• There are no limitations on the maximum Premium. The minimum age for entrance varies depending on the Policy term selected.
• The death benefit payable on the death of a Life Assured during the policy term after the date of starting of risk but before the stipulated date of maturity is known as the Sum Assured on Death.
• According to the Policyholder’s/Life Assured’s option, the Death Benefit will be paid in a lump sum or in instalments over a 5-year term. After the Death Benefit is paid, the policy will expire, and no further payments will be paid.
• If the life guaranteed survives the stated date of maturity, a maturity benefit will be given in the form of Guaranteed Income Benefit and Guaranteed Terminal Benefit.