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).

Single and Limited Premium payment options are also available.

Guaranteed Income Benefit during Payout Period

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:
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.

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.