Review of LIC Dhan Varsha

Mrs. Jahnvi bought the LIC Dhan Varsha plan in the month of November. She was looking for a plan wherein she can secure the future of her family after her demise, and offer them financial stability. After much consideration, and doing her research, she realized that LIC Dhan Varsha is an ideal plan for her.

LIC Dhan Varsha is a single premium plan that provides life protection as well as allows the policyholder to avail of the advantages of a savings plan. By paying the premiums for a single plan, a policyholder can ensure dual benefits for their loved ones.

Let us explore more about the LIC Dhan Varsha that convinced Mrs. Jahnvi to purchase this plan:

Benefits of LIC Dhan Varsha

1. Death Benefit

   If the policyholder dies during the policy term, the nominee will receive the Sum assured on Death along with guaranteed additions. The amount of the Sum Assured on Death will depend on the option chosen by the policyholder:

   • Option 1: 1.25 times the premium amount charged against the basic sum assured

   • Option 2: 10 times the premium amount charged against the basic sum assured

2. Maturity Benefit

   In case the policyholder survives till the end of the policy term, he/she will be eligible to receive maturity benefits. The maturity benefit paid under the plan will be Basic Sum Assured along with accrued Guaranteed Additions.

3. Guaranteed Additions

   Depending on the chosen policy term, option and sum assured, a certain amount will accumulate at the end of each policy year. The total sum will be added to the maturity or death benefit.

4. Riders for enhanced protection

   LIC Dhan Varsha allows the policyholder to enhance their protection by providing them with two rider options:

   • LIC’s Accidental Death and Disability Benefit Rider

   • LIC’s New Term Assurance Rider

5. Option to take Death & Maturity Benefit in Installments

   Under this option, the policyholder has the option to receive Death or Maturity Benefit in installments over a period of 5 years instead of lump sum amount under the policy.

6. Policy Loan Facility

    The policyholders can apply for a policy loan at any point of the policy term after the completion of 3 months from the day of policy purchase. 

7. Tax Benefits

   Premiums paid for LIC Dhan Varsha plan are eligible for tax deductions under the Income Tax Act.

Summing it up

Not just Mrs. Jahnvi, but the other customers who have bought LIC Dhan Varsha Plan have given 10 on 10 to the plan. The plan’s ability to secure the financial future of your loved ones as well as offer you the benefit of savings makes it one of the ideal LIC plans.

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